Since 2014, Chivas Regal has set aside $1m each year to give to startups that are driving positive change in the world. The whisky brand is now gearing up for its third annual contest, which has been dubbed The Venture, and is asking social good startups across the globe to submit their applications.
The Venture is open to startups in 33 countries, with winning entrants in each country progressing to the global finals. The global finals kick off in March of 2017 with an Accelerator Week in the UK, where finalists will convene for five days of learning, mentorship and support ahead of the final pitch in July. After the Accelerator Week, the public will be given the chance to vote for their favorite startup. Chivas Regal is dedicating $250,000 of the $1m fund to startups that receive the most votes.
The final pitch will take place in July of next year (location to be determined) in front of The Venture’s global panel of judges. During the final pitch, judges will determine how the remaining share of the $1m will be divvied up, with the winning startup receiving the largest sum of money.
Last year, Colombia-based Conceptos Plásticos took home the gold, winning $300,000 for working to transform plastic and rubber waste into an alternative construction foundation for permanent housing. The other four winners were WeFarm, EyeControl, Wakami and Coolar.