When an entrepreneurial business model based around the making and selling of bamboo bicycles in poverty-stricken communities in Mexico City was entered for the 2016 Hult Prize Regionals in Dubai, it was impossible for the judges not to sit up and take notice.
Selected from over 25,000 entries to compete for the US$1million pot of seed-funding (backed in part by the Clinton Global Initiative), two of our Regional and Urban Planning Studies students – Luc Griaud and Alyssa Campbell – and two of our Local Economic Development students – Alice Mougin and Maxime Noell – gathered with hundreds of teams from around the world to present their innovative and exciting social enterprise initiative, The Boocycle.
Aimed at empowering the urban poor, the model was based around community hubs that would reach out to youths across Mexico City through a training programme that would teach its students how to build, fix and maintain the bikes – as well as provide them with basic entrepreneurial and business skills and the potential to access jobs upon completion of the course. As a result of The Boocycle’s potential, the LSE team was awarded an Honorary Commendation. Many, many congratulations!