6th February 2025, Kathmandu
The Hult Prize at IOE, Pulchowk Campus successfully hosted the fifth session of its highly anticipated Entrepreneurship Talk Series, titled “Business Model and Market Testing,” on February 2nd.
IOE Hult Prize Workshop
Held at Embark College, this event provided a dynamic platform for aspiring changemakers, offering valuable insights on effectively testing business models in real-world markets and maximizing product impact based on core values.
The event featured two distinguished guest speakers: Vedika Murarka and Riya Shrestha, both of whom bring extensive knowledge and experience in entrepreneurship and marketing.
The session was hosted by Miss Aeva Acharya, the Chief Content Writer of the Organizing Committee of Hult at IOE, Pulchowk Campus, who welcomed participants and announced that the top 25 semi-finalist teams would be announced at the end of the session. This revelation had the participants buzzing with anticipation.
The program officially began at 1:00 PM with a traditional Khada presentation to the first guest by Miss Riyaj Nepal, the Campus Director of Hult at IOE, Pulchowk Campus. The host also provided an overview of the first guest speaker, Miss Vedika Murarka.
Vedika Murarka, co-founder of Educase, a groundbreaking women-led social enterprise, addressed educational challenges faced by students in marginalized communities across Nepal. Educase has developed an innovative product: a school bag that converts into a desk, designed to provide a comfortable study space for children both at home and school.
During her session, she shared how a three-month college project led her to create Educate and assist students in remote areas. She demonstrated product samples and discussed her journey of creating twelve different designs to arrive at one successful prototype.
Engaging with the participants, she prompted them to articulate their ideas by answering the “WHAT? WHO? HOW?” questions, focusing on the product’s purpose, target beneficiaries, and revenue generation. Vedika emphasized the importance of narrowing down target audiences and distinguishing between consumers and customers. She firmly believed that impactful ideas could also be monetized.
Her mentorship and advice captivated participants, inspiring them to present their business models and prototypes effectively. In appreciation of her contributions, Miss Murarka received a handcrafted wooden token from our gifting partner, CNC Kasthakala Nepal, as well as a plant from our in-kind sponsor, The Plant Room Nepal, and delicious food from our food sponsor, Kantipur Coffee.
Following her session, the second guest speaker, Miss Riya Shrestha, was welcomed with a Khada presentation from our Campus Director. Miss. Riya Shrestha is a seasoned marketing consultant with expertise in social media strategy and communication. She has dedicated her career to helping brands create compelling narratives, form meaningful connections, and establish a strong digital presence.
Riya began her session interactively by inviting participants to sell a pen. Participants presented their pitches, showcasing their unique approaches. She used this exercise to illustrate that the first step in marketing is understanding the audience and whether they genuinely need the product.
Riya delved into the basic principles of marketing and brand recognition, discussing how ambiance, quality, and cultural nuances contribute to effective content creation. She provided examples of how to increase brand awareness and emphasized that opportunities are abundant; it depends on individuals to recognize and seize them.
Riya also highlighted the various psychological techniques employed by influencers and content creators to connect emotionally with their audience. She encouraged participants to be specific and concise in their branding, products, and target audiences. She concluded her session by summarizing three key takeaways for the audience, providing them with a thorough understanding of effective branding strategies for their products.
To honor Miss Shrestha’s contributions, she was gifted a handcrafted wooden token of appreciation from our gifting partner, CNC Kasthakala Nepal, as well as a plant from The Plant Room Nepal and delicious food from Kantipur Coffee.
After both sessions concluded, the excitement in the room soared as the top 25 teams advancing to the semi-finals were announced. The semi-finalists eagerly looked forward to their next challenge, and the session reinforced the Hult Prize’s mission to nurture the next generation of impact-driven entrepreneurs.
These aspiring leaders are ready to transform their innovative ideas into meaningful actions that can address pressing global issues. The energy and commitment displayed by these teams inspire us all to make a difference.
For more: IOE Hult Prize Workshop
