The Hult Prize annually donates $1 million in seed capital to a startup idea deemed by judges to be the most profitable and sustainable.
A previous version of this article mistakenly referred to Ahmad Ashkar as the co-founder of the Hult Prize Foundation; he is the founder. The Daily Star apologizes for the error.
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The first edition of Hult Prize Lebanon Saturday awarded a seed grant of $250,000 to a team from Rafik Hariri University that proposed mattresses to keep refugees in tents warm at night.Heatechs' technology is now patented after three phases of calculations, software simulation and prototype testing, according to the team's Chief Technological Officer Jawad Haidar.Its co-founder, Palestinian-American social entrepreneur Ahmad Ashkar, introduced the program to Lebanon this year in partnership with BLOM Bank and the Lebanese Central Bank.Among the competing startups in Lebanon were Full-fill, which proposed renting power banks to charge phones; an eco-friendly group-cycling project Electrofit; and the bus-tracking application Yallabus.Ashkar promised he would bring his "entire asset pool to Lebanon" and praised the government's receptiveness to his ideas.
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