The Hult Prize at IOE, Pulchowk Campus successfully hosted the fifth session of its Entrepreneurship Talk Series, "Business Model and Market Testing," on February 2nd at Embark College. The event gave aspiring changemakers valuable insights into testing business models and maximizing product impact.
Two distinguished guest speakers, Vedika Murarka and Riya Shrestha, shared their expertise in entrepreneurship and marketing. The session, hosted by Aeva Acharya, Chief Content Writer of the Hult at IOE Organizing Committee, also included the highly anticipated announcement of the top 25 semi-finalist teams.
Vedika Murarka, co-founder of Educase, a women-led social enterprise that addresses educational challenges in marginalized Nepali communities, presented her innovative product: a school bag that converts into a desk. She shared her journey developing the product, emphasizing the importance of understanding a business's "WHAT? WHO? HOW?" and focusing on purpose, target beneficiaries, and revenue generation. She stressed the need for a clearly defined target audience and the potential for monetizing impactful ideas.
The second speaker, Riya Shrestha, a marketing consultant specializing in social media strategy and communication, led an interactive session on marketing principles and brand recognition. Through an exercise where participants pitched the sale of a pen, Shrestha highlighted the importance of understanding the audience and their needs. She discussed the role of ambiance, quality, and cultural nuances in content creation, providing examples of increasing brand awareness. Shrestha also explored psychological techniques used by influencers and content creators to connect with audiences, encouraging participants to be specific and concise in their branding, products, and target audiences.
Both Vedika Murarka and Riya Shrestha received tokens of appreciation from CNC Kasthakala Nepal, plants from The Plant Room Nepal, and refreshments from Kantipur Coffee.
Following the speaker sessions, the top 25 semi-finalist teams were announced, generating excitement and anticipation for the next stage of the competition. The event reinforced the Hult Prize’s commitment to fostering the next generation of impact-driven entrepreneurs, empowering them to transform innovative ideas into solutions for global challenges.
