SOCIAL ENTERPRISES

Businesses are increasingly operating in a way that goes beyond maximising profits and obeying laws and regulations. Corporate social responsibility, which includes topics such as climate action, human rights, health and safety, environmental effects, and economic development, has become a critical component of the modern day business. Therefore, it is essential that students learn and gain exposure to its potential to revolutionise the way we live. This is the main focus of the Social Enterprises division.

 
HULT PRIZE

The Hult Prize was established in 2010 by Bertil Hult, and is an annual, year-long competition that crowd-sources ideas from university students around the world by challenging them to solve a pressing social issue.

AIMS & OBJECTIVES

The division aims to promote initiatives that deepen students’ understanding of the impact businesses have on society. We plan to organise events with prominent global corporations aimed at analysing how different businesses implement their CSR and how this helps their bottom line.

Our objectives include:

  • Engaging with local voluntary and charitable organisations

  • Expanding members’ career opportunities and supporting students who wish to pursue careers in business with a social impact slant

  • Developing income-based solutions into social, economic, and environmental challenges

  • Transforming these ideas into investment-ready startups with management teams, business plans, and prototypes

 

This will be done via events such as:

  • Hult Prize that unlocks the desire of young people to change the world through business

  • Sustainable business to combat climate change: a collaboration with the UCL Climate Action Society

  • Sustainable Investing Insight Week

  • Impact Investment Challenge

PREVIOUS ACHIEVEMENTS

The new Social Enterprises Division, founded in the 2017/2018 academic year, acted as the main source of attracting an increasing number of non-finance students to the UCL Society. The division successfully held the Hult Prize competition, which is the biggest global student competition for social entrepreneurship, inspiring more than 50,000 students to become social entrepreneurs. The 2017 Hult Prize challenge was “Refugees-Reawakening Human Potential” and included participants from a multitude of fields including medicine, literature, geography, finance, economics, and population health sciences.

Our successes include:

  • Acting as an ambassador to businesses’ modern day approach of including sustainable practices and social responsibilities

  • Refining startup ideas from UCL students to sustainably solve the world refugee crisis

  • Mentoring students to compete against fellow teams, refining their pitches, and improving their business models, thereby effectively creating the world's largest crowdsourced arena for social and business innovation

  • Generating ideas for the successful integration of refugees through profit-minded and impact-driven ideas

©2018 by UCL Business Society

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