Nigeria, Kenya and South Africa have been listed among the 29 countries that can apply for the 2018 Chivas Venture competition for innovative startups that use business to solve global social or environmental challenges.
The Venture is a global search to find and support the most promising startups with the potential to succeed financially and make a positive impact on the lives of others. The most promising startups; one from the 29 countries participating in the Venture will make it to the global final and have a chance to win a share of $1 million in funding.
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 who will get the most votes will receive $50,000, the next 4 runners-up will each receive $20,000, and the remaining $70,000k will be split equally amongst the remaining finalists. At the Chivas Venture Final pitch event, each finalist will have a chance to pitch for a share of the remaining $800,000 in front of an expert judging panel.
The global finalists will feature on The Venture website and crowd funding site IndieGoGo.
Eligibility
Chivas Venture is for businesses in:
- Seed stage (which means the product is still in prototype stage and the business is not yet generating revenue from customers or users yet).
- Startup stage (which means the business has a working prototype of its concept, ideally with some demonstrable user traction, generating a maximum of US $500,000 or local currency equivalent; in annual revenues and has been incorporated for no more than three years) or
- Growth stage (which means the business is beyond the working prototype stage, and can show significant user traction and sales, generating a maximum of US $1 million or local currency equivalent; in annual revenues and has been incorporated for more than three years).
- You will have a strong vision, a compelling idea and a solid business plan.
- You will 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.
- You must be over 25 to enter The Venture.
Benefits
A share of the $1 million 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 Venture Accelerator week
Over the course of a week, all the finalists will take part in a variety of intensive business master-classes at some of the world’s leading businesses to help them sharpen their skills.
Mentorship
We have recruited a team of experts in partnership with the Skoll Centre at Oxford University to provide business and pitching support to The Venture’s global finalists.
Global exposure
The global finalists will feature on The Venture website and crowdfunding site IndieGoGo. Our international campaign will reach millions of people around the world, offering incredible exposure for your business.
Interested startups from these countries have between 4th September 2017 and 30th October 2017. Click here to apply.
