NORTH BRUNSWICK — A young man from North Brunswick organized a competition that has a global impact.
Umair Masood, a sophomore at Rutgers University, served as campus director for the seventh annual Hult Prize competition at Rutgers on Dec. 5, when 10 teams competed to solve former President Bill Clinton’s challenge for 2015: How to end poverty in urban spaces and encourage students to build sustainable, scalable and fast-growing social enterprises that double the income of 10 million people resided in crowded urban spaces by better connecting people, goods, services and capital.
“This creates a community platform for social entrepreneurs on campus who are trying to get their name out there,” Masood said.
“The one thing I learned as director is that there is a huge entrepreneurial community at Rutgers and there is a new wave of social entrepreneurship [that is] creating an idea or a project that is profitable while solving the world’s problems at the same time, which is very powerful.”
Masood was able to pull the event together in just a month’s time, having to find teams and judges, obtain sponsors and partners and secure prize money.
His experience was rooted in a five-year internship at the American Muslim Consumer Consortium, founded by his parents, Faisal Masood and Sabiha Ansari, to understand and address the needs of American Muslim consumers and to empower companies developing products for the market.
“I’ve seen them run an event, build a network and brand themselves,” he said.
The winning team members from Rutgers University were Daniel Reji of Holmdel, David Shah of Edison, Chisa Egbelu of Louisiana and Myles Jackson of Pennsylvania. They were awarded $500 and will represent Rutgers at Regionals in Boston in March.
Following the regional finals, one winning team from each host city will move into a summer business accelerator program, where participants will receive mentorship, advisory and strategic planning as they create prototypes and set-up to launch their new social business.
The final round of competition will be hosted at the Clinton Global Initiative Annual Meeting in September, when one team will be selected as the Hult Prize recipient. Clinton himself will award the $1,000,000 prize to the winning team.
“The Hult Prize is a wonderful example of the creative cooperation needed to build a world with shared opportunity, shared responsibility, and shared prosperity, and each year I look forward to seeing the many outstanding ideas the competition produces,” Clinton said in a statement.
For more information on the event, visit hultprizeat.com/rutgers.
Contact Jennifer Amato at email@example.com.