South Africa startups can now submit applications for the 2019 edition of The Chivas Venture $1-million global innovation competition.
Chivas Regal announced the launch of this year’s edition on Monday (10 September). The innovation competition is aimed at innovative startups that are using business to solve social and environmental issues. The competition was first launched in 2014.
Chiva’s $1-million innovation competition is aimed at startups that blend profit and purpose
In a statement on Monday (10 September), Chivas Regal South Africa marketing manager Radley Connor said the competition is an “amazing platform” for SA social entrepreneurs to attract investment and gain global exposure.
“The competition rewards and celebrates individuals whose purpose is to make a positive difference to society. If you have a great idea, that meets the requirements, we encourage you to enter,” added Connor.
SA applicants will compete in a local heat that will culminate in the winner flying to the UK to take part, along with other global finalists, in an exclusive week-long accelerator programme hosted by London-based social change platform The Conduit.
Following the accelerator programme — which will give the global finalists a chance to hone their business and pitching skills — members of the public will over three weeks of online voting select the recipient of the first $100 000 of the $1-million fund.
Thereafter, The Chivas Venture 2019 will then culminate in a series of high-stake pitches at the global final in Europe, where the finalists will battle it out for the remainder of the $1 million.
Last year SA water startup I-Drop placed third in the global finals with founder James Steere walking away with close to R1-million in funding.