Team 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). Also Read - Inspiring! Meerut Woman Who Left Home To Avoid Forced Marriage Returns As PCS Officer 7 Years Later

The prize was given away by former US president Bill Clinton and Grameen Bank founder Muhammad Yunus in New York Tuesday. Also Read - Before Reporting For Duty, This Bengaluru Cop Teaches Children of Migrant Workers Everyday For An Hour

The winning team – Nano Health- comprised of Aditi Vaish, Ashish Bondia, Manish Ranjan, Pranav Kumar Maranganty and Ramanathan Lakshmanan who participated in the competition earlier this year as students of the class of 2014 at the ISB, said a statement here Wednesday. Also Read - Ready to Send Children Back to School? 78% Parents Say No, Willing to Let Kids Repeat An Academic Year

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 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.

“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,” said Ajit Rangnekar, Dean, ISBA, who was present at the event.