Bill Clinton Rewards a Social Startup and Resolves a Minor Health Crisis in the Same Night
Thursday, September 25, 2014
A team of students from the Indian School of Business left a Times Square Sheraton Tuesday night with $1 million to help them improve access to health care in low-income neighborhoods and with this year’s Hult Prize, which former U.S. President Bill Clinton awards annually to a team of student social entrepreneurs.
The competition hopes it can help make socially conscious startups “the hottest thing among the youngest entrepreneurs in the world,” said Ahmad Ashkar, founder and chief executive of the Hult Prize Foundation, a startup accelerator backed by the Hult International Business School and the Clinton Global Initiative.
Despite the earnestness of Hult prize winners and their peers, the field of social entrepreneurship has its critics. Mistrust of big government and multinational companies drives much of the movement, wrote Charles Kenny, a senior fellow at the Center for Global Development, in Bloomberg Businessweek on Tuesday. That view isn’t entirely unwarranted, he said, but it ultimately misses the bigger picture.