Type of Funding
Social entrepreneurs around the world with innovative startups that blend profit with purpose to solve the world’s biggest social and environmental issues, are invited to apply for The Chivas Venture 2020 Competition. One national winner will be chosen from each country participating in The Chivas Venture to enter the global finals and have a chance at winning a share of US$1 million in funding. Each country participating in the Chivas Venture will select 1 winner to go to the global final.
The Global Competition consists of 3 stages:
- The Accelerator Programme, which will take place in March 2019, when 20 global finalists will be flown to the United Kingdom to take part in the Accelerator Programme in London. Hosted by The Conduit – a new London establishment that serves as a home for a diverse community of people who are passionate about social change – the intensive training programme will include one-to-one pitch coaching and a set of learning sessions tailored for social entrepreneurs.
- The Online Competition after the Accelerator Progrmme, which involves the allocation of US$100,000 of the Fund based on consumer online voting during a period of about 3 weeks; and
- The Chivas Venture Global Final, consisting of a series of pitches where finalists will battle it out in front of expert judges as well as a live audience of business experts, influencers and change-makers for the remainder of the US$1 million in funding.
Global finalists will have the opportunity to win a share of US$1 million in funding. Each finalist will stipulate how much funding they seek and how they believe this will make a difference to their business.
The first US$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 US$50,000. The 5 Finalists with the next 5 highest numbers of votes will receive US$10,000 each.
The remaining US$900,000 of the fund will be allocated by the judges at the Global Final: US$750,000 will be distributed amongst the top 5 finalists at the Grand Final, and US$150,000 will be shared amongst the 5 Semi-Finalists and 10 Quarter-Finalists who didn’t make it to the Grand Final.
Global finalists will also receive mentorship under the Accelerator Programme and receive global exposure as they will be featured on the Chivas Venture website. In addition, some of the participating countries may offer additional local prizes.
Applicants must be founders, co-founders or key decision makers of their registered, for-profit startups or businesses which are in the seed stage (pre-revenue generating); the startup stage or growth stage, where the company is earning up to US$1.5 million in annual revenue (measured from 1 September 2018 to 1 September 2019).
The business representative must be aged 21 years old or above and speaks fluent English to attend the Accelerator Programme and pitch in English.
The business must be registered in 1 of the following participating countries: Argentina, Australia, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, England, France, Greece, Israel, Italy, Japan, Kenya, Mexico, the Netherlands, Nigeria, Poland, Scotland, South Africa, Spain, Thailand, USA and Vietnam.
Entries will be assessed on:
- Market opportunity and need;
- Business model and team;
- Measurable social impact;
- Scalability potential;
- Financials; and
- Quality of the pitch and passion of the representative (in the final stages).
Applications are to be done online by 31 October 2019.