1. "The Chivas Venture" is a global competition being run by Chivas Brothers International Limited, a company incorporated in Scotland with company number SC268758 (the "Promoter") to find businesses that wish to have a positive impact on society (the “Competition”).

2. The Competition has two phases:

Phase 1 (the “Local Competition”) will find winners in participating countries including Hungary. Applications for the Local Competition will be accepted from 4 September 2017 until 13 November 2017 with a local winner being selected by 7th December 2017. Phase 1 shall be governed by the Local Terms & Conditions (the “Local Terms”) and administered by the local promoter under Hungarian law.

Phase 2 (the “Global Competition”) will have the country winners competing against each other and comprises three stages:

participation in a mentorship programme (the “Mentorship Programme”) in March/April 2018 (which may be held in person or remotely via online resources – see paragraph 29 for further information);

the Consumer Directed Competition which involves the allocation of US$200,000 of the Fund on a periodic basis based on consumer voting; and

attendance at a live event to take place between May and July 2018.

Dates, formats/mediums of participation and/or locations for the Global Competition are to be finalised and communicated to shortlisted applicants by the end of December 2017. Phase 2 shall be governed by the Global Terms and Conditions (the “Global Terms”). All applicants in the Local Competition agree to the Global Terms when they enter the Competition. The Global Terms are subject to the laws of England and Wales and the exclusive jurisdiction of the English courts.

3. In Hungary the Local Competition is being run by by Pernod Ricard Hungary registry 01-09-466-108 number, 1027 Budapest Kapás u. 6-12 (the “Local Promoter”). The Local Promoter is legally responsible for all aspects of the Local Competition.


4. No purchase is necessary to enter or win the Local Competition.

5. By entering the Hungary Local Competition you agree to these Local Terms. If you do not agree, you must not enter the Competition.

6. The Hungary Local Competition is open to:

any for-profit legal entity (an “Entrant”) that is duly established under the laws of Hungary; and

is seeking, through its business operations, to make a positive impact or benefit to society or the environment; and

generated no more than US$1.5 million (or local currency equivalent) in revenues between 1st September 2016 and 1st September 2017 (excluding grants, prizes, and investments such as debt and equity); and

is either at the Seed, Start-up or Growth Stage as such terms are detailed paragraph 7 below.

7. The Entrant must be either at Seed, Start-up or Growth Stage. Entrants shall be required to self-certify which stage they are at in the entry process and may be required to provide evidence of this upon request by the Local Promoter.

Seed Stage: means that the product is still in prototype stage and the business isn’t generating revenue from customers/users yet;

Start-up Stage: means the Entrant has a working prototype or minimum viable product and is either ready for market entry or already has some paying customers, ideally with some demonstrable user traction;

Growth Stage: means the Entrant is focusing on scaling an already validated proposition (i.e. shows significant user traction and sales).

8. Please note because the Local Promoter and the Promoter are alcohol companies, the Competition is not open for applications from businesses which:

solely or primarily involve the marketing or selling of products or services to those under the age of 18; or

relate solely or primarily to the provision of or promotion of alcohol, addiction services or related products (eg: smoking).

9. Entries shall be submitted by a founder or employee of the Entrant who is aged 25 years or older (the "Representative"). The Representative shall, for purposes of the Competition, be (i) the sole representative of the Entrant (including in relation to any submissions, presentations, interviews etc) for the entire duration of the Competition unless agreed otherwise in the sole discretion of the Promoter and Local Promoter; and (ii) deemed to be a legally authorised representative of the Entrant. The Representative must be fully proficient in English, as the Mentorship Programme and The Chivas Venture Final Pitch will be conducted entirely in the English language. No translators or translations will be provided or permitted. The term “Entrant” shall include both the company and the Representative, unless the context otherwise requires. For the avoidance of doubt, the Promoter and Local Promoter shall only consider a request to change the Representative in exceptional circumstances and shall not be obliged to agree to do so. The Promoter and Local Promoter reserve the right to disqualify any Entrant whose Representative is not available to represent the Entrant in any phase of the Competition.

10. The Competition is not open for entry by the following:

the immediate families (which includes parents, children, spouses or siblings and their respective spouses, regardless of where they reside); and

those living in their same households, whether or not related,

of the employees or workers of the Local Promoter or the Promoter, nor of the Promoter‘s or the Local Promoter’s parent, affiliates, subsidiaries and advertising and promotion agencies, whether on behalf of themselves or any legal entity in which they have any ownership interest.

11. If at any stage in the Competition the Local Promoter or the Promoter is informed or discovers that the Entrant or Representative does not meet the criteria in paragraphs 6 to 10 above, the Local Promoter or the Promoter may disqualify the Entrant with immediate effect.

12. By entering the Local Competition the Entrant is agreeing, should it win the Local Competition, to be bound by the Global Terms which govern the next phase of the Competition. The Representative may be required to provide a signed copy of the Global Terms upon request.


Hungary application process opens

09.00 GMT on 4th September 2017

Applications for Hungary close

09.00 GMT on 13th November 2017

Finalists confirmed

4th December 2017

Finalists attend final event in Budapest

7th December 2017

Hungary Local Winner selected and notified

7th December 2017


13. Entrants need to complete the application form at and supply the stated materials.

14. As part of the entry process, Entrants will be required to complete a set of questions on the application form and may be asked to provide two business referees. The Local Promoter may contact the referees as part of its assessment of the Entrant and its business, and the Entrant and Representative consent to this and shall sign any further documentation requested by the Local Promoter or Promoter in this regard.

15. Business Confidentiality. The Local Promoter does not solicit nor do they wish to receive any confidential or secret information or material from the Entrant through the Competition in any way. Any information or material submitted by the Entrant will be deemed not to be confidential or secret. The Local Promoter and the Promoter will not, however, publicly share financial information or other sensitive business information which is clearly indicated to be confidential when submitted by the Entrant without the consent of the Entrant.

16. The Local Promoter reserves the right to conduct further background checks on the Entrant, the Representative and their business idea. This may include without limitation, civil and criminal court records and police reports on the Entrants, Representatives and entity directors. By entering the Competition, Entrant’s give the Local Promoter permission to conduct such background and financial/criminal checks and if necessary shall provide such written authorisation as may be required to allow these to be carried out.

17. The Local Promoter reserves the right, at its sole discretion, to disqualify any Entrant that fails to authorise such background checks or if, based on the results of the checks, the Local Promoter determines in its sole discretion that the Entrant is not a suitable candidate to participate in the Competition, including, without limitation, because the Entrant’s participation in the Competition might reflect negatively on the Local Promoter and/or the Promoter or their related group companies.

18. Warranties by the Entrant. The Entrant warrants that:

its business (including the activities thereof) does not and will not violate the rights of any third party;

neither the Representative, the Entrant nor any of its directors or officers have ever been convicted of fraud, been bankrupt or disqualified from acting as a company director;

the Entrant and its directors has not and will not carry out any act or omission which may or does (in the sole discretion of the Local Promoter and Promoter) bring the Local Promoter or Promoter into disrepute;

the Entrant and its business has and will at all times comply with the Pernod Ricard Code for Commercial Communications.

19. Data Protection: The Local Promoter (and where applicable, the Promoter) will process (including, for the avoidance of doubt, sharing with specified third parties) any personal data collected as part of the entry process in accordance with the Local Promoter’s privacy policy available at and the Promoter’s global privacy policy (available at ) and the Entrant consents to all such personal data being processed in this regard (including confirming that it has obtained the consent of any individuals whose personal data it submits to the Promoter or Local Promoter for such processing as part of the entry to the Competition).

20. Entrants should not enter unless they can participate in and travel to (where applicable) the Global Competition events and are prepared and able to comply with the terms and restrictions of the Global Terms if they are the Hungary Local Winner. For the avoidance of doubt, the Representative must be eligible to travel to any country where any Competition event is scheduled to take place and Entrants shall take full responsibility for and bear all costs relating to arranging any travel documentation (including passports or visas) required to allow such travel by the Representative.


21. All valid entries received will be assessed against the details on the application form and other information requested and then shortlisted and judged by a panel of judges (which may include any professional advisors deemed necessary by such judges) (the “Judges”) containing at least one Judge who is not an employee of the Local Promoter or the Promoter and according to the following broad criteria and stages:

Market opportunity and size;

Demonstrable impact: measurable current or potential social or environmental impact and a model that can scale;

Sound business model and organizational strategy;

Financial feasibility and sustainability (i.e. the ability to earn revenue);

Skills, experience and commitment of management team.

22. Stage 1 Initial screening, moderation & application assessment process: The applications will be subject to an initial screening by the Promoter based on the above criteria. The applications of approximately the 10 - 20 Entrants based on rankings will be further assessed by the Judges and an independent Global Social Business Analyst selected by the Promoter.

23. Stage 2: Interview of top candidates: Up to 10 of the top candidates remaining will be interviewed by the selected representatives of the Local Promoter either by video, telephone or in person depending on their location.

24. Stage 3: Selection of “Local Finalists”: On the basis of the interview, together with all information and facts received prior the best Entrants will be selected as “Local Finalists”, of which there shall be approximately 3 - 5. The Local Finalists shall be contacted by post, telephone and/or email.

25. Stage 4: Confirmation of “Local Winner”: The Local Finalists will be invited to the Local Final event, where Finalists will get the opportunity to present their business to the Judges and local audience. All travel and accommodation expenses will be covered by the Promoter for maximum 2 representatives of the Local Winner.

26. If a Local Finalist does not respond to any notification by the Local Promoter within the time period specified by the Local Promoter or if a Local Finalist cannot be verified within the time required or if a Local Finalist is otherwise unable to accept their status as a Finalist or if their Representative cannot attend or participate in any required Competition event or is otherwise ineligible, their selection as Local Finalist will be forfeited and an alternative Finalist may be selected from reserves judged at the same time at the Local Promoter's sole discretion.

27. The above stages are referred to as the “Selection Process”. Any application that is found, at any time during the Selection Process, not to be in compliance with these Local Terms or that otherwise contain prohibited or inappropriate content as determined by the Local Promoter, in its sole discretion, may be disqualified. The Local Promoter shall have sole and final determination as to which applications are eligible to take part in the Competition and no correspondence will be entered into.


28. Entrants and Representatives hereby agree to participate in any reasonable promotional and publicity activities to be determined by the Local Promoter and Promoter. Such activities could include the use of the Entrant’s business name, address, trademarks and logos, the Representative’s name, photographs, voice and/or other likeness for advertising, trade and promotional purposes without further compensation, in all media now known or hereafter discovered, worldwide in perpetuity, without notice, review or approval.


29. The Hungary Local Winner shall receive:

1 Million HUF prize a local winner on Edenred Mastercard.

The right for the Representative to participate on behalf of the Entrant in The Chivas Venture Mentorship Programme in March/April 2018. [The Mentorship Programme may, in the sole discretion of the Promoter, either be run remotely or in person at a location in Europe to be determined by the Promoter. The location and medium via which the Mentorship Programme will be run will be notified to any Local Finalists upon their selection as such. To the extent that the Mentorship Programme is run remotely, the Entrant must have access to an appropriate internet connection and device in order to participate in the Mentorship Programme via video conference. The Promoter reserves the right to disqualify any Entrants who are unable to participate as such. If the Mentorship Programme is conducted in person, the Promoter shall supply the Representative with return economy flights from Hungary to the location of the Mentorship Programme, accommodation at a hotel selected by Promoter, airport transfer from the destination airport to the relevant hotel as well as necessary transfers to Competition events during the Mentorship Programme and selected meals during the Mentorship Programme.

A trip for the Representative to attend The Chivas Venture Final Pitch in May/July 2018 comprising:

return economy flights from Hungary;

accommodation in a hotel as selected by the Promoter;

airport transfer at destination to relevant hotel as well as necessary transfers to Competition events during The Chivas Venture Final Pitch week;

breakfast, lunch and dinner during The Chivas Venture Final Pitch week.

30. The Local Competition winner must pay the cost of transport to and from his/her originating airport, travel insurance, any other travel related costs not specified above (including without limitation excess baggage charges, obtaining passports and visas), and for any other costs or expenses not specified above. Note, any room service, mini-bar or other charges at the hotel will be at the expense of the Representative.

31. All reservations and travel arrangements shall be with suppliers selected by the Local Promoter in its sole and absolute discretion. All arrangements will be made through a travel agent selected by the Local Promoter. Travel dates once arranged are not changeable and non-transferrable. Airline tickets are non-refundable, non-transferable, and are not valid for upgrades.

32. The prize may not be substituted, replaced or combined with any other offer and travel may not qualify for frequent flyer miles. The prize is not assignable, substitutable or transferable by the Local Competition Winner.


33. The Local Promoter is not responsible for:

entries or other communications which are misdirected, lost, delayed, damaged or corrupted during delivery to or from the Local Promoter due to any computer malfunction, virus, bug, delay, erroneous or any other reason whatsoever;

lost, interrupted or unavailable network, server, telecommunications, Internet Service Provider (ISP), website, or other connections;

computer hardware or software malfunctions, failures or difficulties;

any incorrect or inaccurate information, whether caused by human error, site users, tampering, hacking, or by any equipment or programming associated with or utilised in the Competition;

injury or damage to Entrants' or to any other person's computer related to or resulting from participating in the Competition or downloading materials from or use of the Competition website; or

other errors or difficulties of any kind, whether human, mechanical, electronic, computer, network, typographical, printing or otherwise, relating to or in connection with the Local Competition including, without limitation, errors or difficulties which may occur in connection with the administration of the processing of applications, the judging process, the announcement of the Local Competition semi-finalists, winner or in any related materials.

34. Persons who tamper with or abuse any aspect of the Competition or any linked website or who are in violation of these Local Terms, as solely determined by the Local Promoter, are liable to be disqualified and all associated entries will be void.

35. The Local Promoter reserves the right (i) at its sole discretion to suspend, modify or terminate the Selection Process at any time and for any reason, (ii) at its sole discretion to amend these Local Terms at any time, and (iii) to withdraw part or all of the Local Competition if it cannot be operated as envisaged, or cannot be operated as envisaged without disproportionate expense.

36. Entrants, by participating, agree that, to the extent permissible under applicable law, the Local Promoter, the Promoter, their parent, affiliates, subsidiaries and advertising and promotion agencies and all of their respective officers, directors, employees, representatives and agents (collectively, "Released Parties") will have no liability whatsoever for, and shall be held harmless by Entrants against, any liability, for any injuries, losses or damages of any kind, including death, to persons, or property resulting in whole or in part, directly or indirectly, from acceptance, possession, misuse or use of the prize or participation in the Competition including the Selection Process.

37. The Entrant shall indemnify the Local Promoter and the Promoter from any and all claims, liabilities, costs and expenses arising in any way from a breach of the Entrant's obligations, warranties or representations under these Local Terms or in any way given as part of the Competition.

38. Legal Jurisdiction: The first phase of this Competition shall be governed by the laws Hungary and the jurisdiction of the courts of Hungary.

39. The name of the Hungary Winner will be announced by no later than 8th December 2017.

L e t ’ s

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