A group of five alumni from the Indian School of Business (ISB) has won the prestigious Hult Prize and a $ 1 million funding support from the Clinton Global Initiative (CGI). The prize was given away by Bill Clinton, former president of the USA and Muhammad Yunus, founder of the Grameen Bank, at an event held in New York city last evening.
The winning team, which had set up NanoHealth, a social enterprise specialising in chronic disease management that provides holistic managed care services to slum dwellers, comprised of Aditi Vaish, Ashish Bondia, Manish Ranjan, Pranav Kumar Maranganty, and Ramanathan Lakshmanan. They have participated in this competition earlier this year, as students of the Class of 2014 at the ISB.
“It’s a proud moment for all of us at ISB, as our alumni team was the first ever entrant from India into the global finals. This is a culmination of the efforts of the students, supported by the faculty, the Max Institute of Healthcare Management at the ISB, and everybody associated with the team”, ISB dean Ajit Rangnekar, Dean , who was present at the global event, stated in a press release
The team studied healthcare courses, designed and offered by the Max Institute of Healthcare Management at the ISB. They also received assistance from the institute, faculty, and the D-Labs accelerator.
The objective of the Hult Prize, the largest student business plan competition in the world, is for teams to design a social enterprise – an annual challenge set by former US President Bill Clinton. “Solving Non-Communicable Diseases in the Urban Slums” was the challenge for participants this year. All teams had to propose solutions which would impact at least 25 million people in urban and semi urban areas. The ISB group competed against teams from the USA, Latin America, the Middle East and China.
Nano Health has received support from industry and the Telangana government to implement their business plan. They have recently partnered with GVK Biosciences’ proprietary HEART (Health Emphasized Analytical and Reporting Tool).