FREQUENTLY ASKED QUESTIONS
WHAT IS THE CHIVAS VENTURE?
The Chivas Venture is an annual competition to find and support the most promising social entrepreneurs, who use business to solve social and/or environmental issues.
Candidates must apply to the competition in one of the participating countries, for a chance to join the global final and win a share of $1million.
WHICH COUNTRIES ARE PARTICIPATING IN THE CHIVAS VENTURE 2019-20?
To enter the competition, your business must be registered in one of the following countries:
- South Africa
WHO CAN APPLY FOR THE CHIVAS VENTURE?
The founder, co-founder or a key decision maker must apply on behalf of the business and represent it throughout the phases of the competition. The business representative must be aged 21 years old or over (as over 31 October 2019) and speak fluent English to attend the Accelerator Programme and pitch in English.
Your start-up must be registered as a for-profit entity in the country you’re located. We accept entries from Seed stage (pre-revenue), Start-up stage and Growth stage, earning up to $1.5 million in annual revenue (measured from 1st September 2018 to 1st September 2019).
Make sure you read through your local Terms & Conditions for full eligibility requirements.
WHAT IS THE PRIZE?
1. 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 first $100,000 of the fund will be allocated by the public, via a 3-week online vote. The Finalist with the most votes will receive $50,000. The 5 Finalists with the next 5 highest numbers of votes will receive $10,000 each.
The remaining $900,000 of the fund will be allocated by the judges at the Global Final: $750,000 will be distributed amongst the top 5 finalists at the Grand Final, and $150,000 will be shared amongst the 5 Semi-Finalists and 10 Quarter-Finalists who didn’t make it to the Grand Final – see Terms & Conditions for full details.
2. The Accelerator Programme
We are excited to be partnering with The Conduit in London, UK, to deliver a mentorship programme for those who make it to the global final. This will take place in March 2019, and will feature opportunities for the finalists to sharpen their business and pitching skills, and learn from world-class experts.
3. Global exposure
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 to your business.
4. Local Prizes
The Chivas Venture is an international competition and some of the participating countries may offer additional prizes. Check your local Terms & Conditions for further details.
DO YOU TAKE ANY EQUITY FROM MY BUSINESS?
Chivas takes no equity from the start-ups. We want to give entrepreneurs an opportunity to succeed and we see this project as championing those who blend profit with purpose. We hope that the stories of these start-ups will inspire more and more innovative thinkers to get involved in this movement.
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.
HOW WILL YOU JUDGE THE APPLICATIONS?
We’re looking for candidates with a strong vision, a compelling idea and a solid business plan. You'll need to showcase how your business has a positive impact and articulate how funding would help to take your business to the next level.
Every submission will be assessed across the following criteria:
- Market opportunity & Need (Is there a big social or environmental problem to solve, and clear gap in the market?)
- Business model & Team (Do you have the right solution & team in place to make money while doing good?)
- Measurable Social impact (Do you drive transformational impact and do you measure it?)
- Scalability potential (Can you scale, and could you ever transform a million lives, or end the problem you’re solving?)
- Financials (Do you have sound financial projections and will Chivas Venture funding be catalytic of growth & impact?)
- Quality of the pitch & passion of the representative (in final stages only)
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.
WHY ARE YOU NOT OPEN TO ENTREPRENEURS UNDER 21 YEARS OF AGE?
As part of the competition, we will be offering PR & online exposure to the social entrepreneurs we support. As an alcohol company, we take responsible drinking very seriously and must be careful not to associate our name with anyone who may be perceived to be under the legal drinking age. Please read the Pernod Ricard Code for Commercial Communications for more details.
WHY IS CHIVAS REGAL WHISKY DOING THIS?
We firmly believe the best way to succeed as a business is to engage with our consumers in ways that are meaningful for them. Chivas’ belief in the blend of generosity and success was instilled by founding brothers, James and John Chivas, who shared their success with the local community as their business grew. Like us, our consumers increasingly believe that business can change the world for the better; they see potential opportunities to have a positive impact on the world and we want to collaborate with them to make those opportunities a reality – which, we believe, will reinforce our success around the world in a virtuous circle. We want to practice what we preach: doing well by doing good.
I’M HAVING TECHNICAL ISSUES WITH MY APPLICATION. WHO CAN I CONTACT?
If you are experiencing any technical issues on the website, please get in touch with the team at firstname.lastname@example.org and we will do our best to advise.