On Christmas eve 2013, the spark of an inspiring idea was reverberating through the heads of the leaders of Hult SF Net Impact and Hult Venture Group.
Low and behold, just after Christmas the 2 clubs joined forces to launch the first Hult San Francisco Entrepreneurial challenge for the student community, and to get an idea of it’s ethos? Well, the name that speaks for itself – “Co-Creation Lab”.
It all kick-started with 110+ applicants meeting at the first event, where 18 teams were formed, and the hatchlings of business models were developed. These teams then completed a 3-months journey developing their models, and polishing their presentations for the finale.
Over these months, the teams were put through a pre-accelerator program which included workshops, speaker sessions and lots of practice tasks. Each team was assigned a mentor and, step by step, participants inched towards developing and reiterating their business idea as well as mastering the investor pitch.
In order to empower the winning team and truly support it with the launch of their venture, the Co-Creation lab team ran a crowd-funding campaign. This initiative started few days before the finals and results were truly astonishing. The Hult community – students, professors, partners and friends, supported the campaign actively and together made a huge impact on the success of the entire challenge.
The culmination, for both the teams and the organizers, was the final pitch event for the first edition of the Co-Creation Lab. The teams pitched their business idea in front of experienced professionals, entrepreneurs and peers.