The Chivas Venture is a global search to find and support the most promising start-ups with the potential to succeed financially and make a positive impact on the lives of others.
One social entrepreneur from each participating country will make it to the global final and have a chance to win a share of $1 million in funding.
WHO CAN APPLY FOR THE CHIVAS VENTURE?
We are looking for social entrepreneurs who have a registered, for-profit business, and who are seeking through their business to make a positive impact on society and/or the environment.
To be eligible, your business should generate no more than US$ 1.5 million in annual revenues (measured from 1st September 2016 to 1st September 2017). We accept entries at Seed stage (which means that the product is still in prototype stage and the business isn’t generating revenue yet), Start-up stage (which means that you have a working prototype or minimum viable product, either ready for market entry or already having some early user traction) or Growth stage (which means you are scaling an already validated proposition, demonstrating significant user traction and sales).
One employee, ideally the founder or co-founder, must apply on behalf of the start-up and represent it throughout the phases of the competition. The business representative must be over 25 years old to enter the Chivas Venture.
You will have a strong vision, a compelling idea and a solid business plan. You'll also need to showcase how your business has a positive impact and articulate how funding would help to take your business to the next level.
Below is the list of countries participating in the Chivas Venture 2018. In order to enter, your business must be registered in one of the following countries:
Argentina (combined competition with Uruguay)
Belgium (combined competition with Luxembourg)
Luxembourg (combined competition with Belgium)
Uruguay (combined competition with Argentina)
WHAT IS THE PRIZE?
A SHARE OF THE $1MILLION FUND
If you are selected to take part in the global final, you will have the opportunity to win a share of $1 Million in funding. Each finalist will have the chance to tell us how much funding they seek and how they believe this will make a difference for their business.
THE ACCELERATOR PROGRAMME
We are excited to be partnering once again with the Skoll Centre for Social Entrepreneurship at Oxford University to deliver a mentorship programme for those who make it to the global final. The exact dates and details of the programme are still being confirmed, but it will feature opportunities for the finalists to sharpen their business and pitching skills, receiving mentorship from world-class experts.
The global finalists will feature on the Chivas Venture website, and our international campaign will reach millions of people around the world via PR & social media, offering incredible exposure for your business.
The Chivas Venture is an international project with some of the participating countries offering additional prizes. Check your local Terms & Conditions to discover what else the Chivas Venture may offer your business.
HOW WILL THE $1MILLION FUND BE DISTRIBUTED?
After announcing the global finalists on this website in March/April 2018, the public will be invited to vote for their favourite start-up. The first $200,000 of the fund will be distributed based on the number of votes received during a three-week online voting period. The finalist obtaining the most votes will receive $50k, the next 4 runners-up will each receive $20k, and the remaining $70k (of the original $200,000) will be split equally amongst the remaining finalists.
Then, at the Chivas Venture Final pitch event (between May and July 2018), each finalist will have a chance to pitch for a share of the remaining $800,000 in front of an expert judging panel.
Remember, the Chivas Venture is about more than just financial support. We have recruited world-class experts to mentor our finalists and our international campaign will reach millions of people around the world, offering incredible exposure for your business.
DO YOU TAKE ANY EQUITY FROM MY BUSINESS?
Chivas takes no equity from the start-ups. We want to give aspiring entrepreneurs an opportunity to succeed and we see this project as an accelerator for a movement where business is recognised as a force for good. We hope that the stories of these start-ups will inspire more and more innovative thinkers to get involved.
HOW DO I BECOME A FINALIST?
Each country participating in the Chivas Venture will select one winner to go to the global final. The selection process may vary between countries so please be sure to check your local Terms & Conditions to find out more.
In order to become a global finalist, you will also need to agree to the Global Terms & Conditions, so please make sure to also read through these.
DOES MY START-UP HAVE TO BE TECHNOLOGY-DRIVEN IN ORDER TO BE SELECTED?
Winning entries will not need to be technology focused, but should tackle a social or environmental issue with an innovative, market based solution.
HOW WILL YOU JUDGE THE APPLICATIONS?
Every submission will be assessed across the following criteria:
Market opportunity and size
Measurable social / environmental impact
Sound business model and organizational strategy
Financial feasibility and sustainability (i.e. the ability to earn revenue)
Skills, experience and commitment of management team
In short - we are looking for businesses that not only have the potential to succeed and turn a profit, but also can demonstrate that having a positive impact is at the heart of their business venture.
HOW DOES THE CHIVAS VENTURE RELATE TO CHIVAS REGAL WHISKY?
The fit between social entrepreneurship, our heritage as a brand, and the expectations of today’s consumers around the world is remarkable. Our founding brothers, James and John Chivas, were already committed to using their personal business success to support their local community in Scotland. Since then, Chivas has supported a range of entrepreneurial initiatives in various countries around the world.
Today, we see a new generation of entrepreneurs who believe the world can be better, and use business as a force for good. Championing start-ups who combine profit with purpose, is an opportunity for us to demonstrate what it truly means to Win the Right Way, but also to make an important contribution to this global movement.
Keep checking our blog and sign up to our newsletter for more information and updates on the Chivas Venture competition.
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