Business Model & Market Testing: Insights from Hult Prize at IOE
Pulchowk, February 2 – The Hult Prize at IOE, Pulchowk Campus, hosted the fifth session of its Entrepreneurship Talk Series at Embark College, titled “Business Model and Market Testing.” This highly anticipated event provided aspiring entrepreneurs practical knowledge on testing business models in real-world markets and maximizing product impact.
Empowering Change Through Innovation
The session featured two renowned guest speakers, Vedika Murarka and Riya Shrestha, who shared their expertise on entrepreneurship and marketing. Their sessions focused on refining business ideas, understanding target audiences, and implementing effective branding strategies.
Vedika Murarka’s Insights on Product Innovation
Vedika Murarka, co-founder of Educase, a social enterprise addressing educational challenges, shared her entrepreneurial journey. She highlighted:
- The importance of defining the WHAT, WHO, and HOW of a business.
- The significance of target audience segmentation in business success.
- Prototyping—12 iterations before achieving a successful product.
Her inspiring story demonstrated how a simple idea can create meaningful social impact while being monetizable.
Riya Shrestha’s Masterclass on Marketing & Branding
Marketing expert Riya Shrestha engaged participants with an interactive sales pitch exercise to highlight:
- It is important to understand customer needs before selling.
- Effective brand positioning using quality, ambiance, and content creation.
- Psychological techniques are used by influencers to connect with audiences.
Her session provided invaluable strategies for startups to build strong brand identities in today’s competitive market.
Celebrating the Top 25 Semi-Finalist Teams
The event concluded with the announcement of the top 25 teams advancing to the semi-finals of the Hult Prize challenge. These young innovators are set to transform their business ideas into impactful solutions for global challenges.
Final Thoughts
The Business Model and Market Testing session reinforced the Hult Prize’s mission to nurture impact-driven entrepreneurs. With the knowledge gained, participants are now better equipped to refine their startups and create sustainable business models.
