Deadline: October 30th 2017
“The Chivas Venture” is a global competition being run by Chivas Brothers Limited, a company incorporated in Scotland with company number SC268758 (the ” Promoter”) to find businesses that wish to have a positive impact on society (the “ Competition ”).
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 each country 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 Competition has two phases:
a. Phase 1 (the “ Local Competition ”) will find winners in participating countries including Nigeria. Applications for the Local Competition will be accepted from 25 September 2017 until 30 October 2017 with a local winner being selected by 15 December 2017. Phase 1 shall be governed by the Local Terms & Conditions (the “ Local Terms ”) and administered by the local promoter.
b. Phase 2 (the “Global Competition”) will have the country winners competing against each other and comprises three stages:
- participation in a mentorship programme (the “ Mentorship Programme”) in March/April 2018 (which may be held in person or remotely via online resources – see paragraph 29 for further information);
- the Consumer Directed Competition which involves the allocation of US$200,000 of the Fund on a periodic basis based on consumer voting; and
- attendance at a live event to take place between May and July 2018.
Eligible Countries:
Argentina, Australia, Belgium, Brazil, Bulgaria, China, Colombia, Czech Republic, Dominican Republic, Germany, Greece, Gulf, Hong Kong, Hungary, Israel, Japan, Kenya, Malaysia, Mexico, Nigeria, Netherlands, Poland, Portugal, Romania, Slovakia, South Africa, Spain, Thailand, UK, US.
Eligibility:
a. Any for-profit legal entity (an “ Entrant”) that is duly established under the laws of [country]; and
b. is seeking, through its business operations, to make a positive impact or benefit to society or the environment; and
c. generated no more than US$1.5 million (or local currency equivalent) in revenues between 1st September 2016 and 1st September 2017 (excluding grants, prizes, and investments such as debt and equity); and
d. is either at the Seed, Start-up or Growth Stage as such terms are detailed below:
e. The Entrant must be either at Seed, Start-up or Growth Stage. Entrants shall be required to self-certify which stage they are at in the entry process and may be required to provide evidence of this upon request by the Local Promoter.
- Seed Stage: means that the product is still in prototype stage and the business isn’t generating revenue from customers/users yet;
- Start-up Stage: means the Entrant has a working prototype or minimum viable product and is either ready for market entry or already has some paying customers, ideally with some demonstrable user traction;
- Growth Stage: means the Entrant is focusing on scaling an already validated proposition (i.e. shows significant user traction and sales).
f. Entries shall be submitted by a founder or employee of the Entrant who is aged 25 years or older (the ” Representative “).
Prizes/Awards:
- $1MILLION FUNDING
If you are selected to take part in the global final, you’ll 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.MENTORED BY THE BEST IN THE BUSINESS:
- 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.LOCAL PRIZES:
- The Venture is an international project with some of the participating countries offering additional prizes. Check your local Terms & Conditions to discover what else The Venture could offer your business.
Note
- The Venture is an international project with some of the participating countries offering additional prizes. Check your local Terms & Conditions to discover what else The Venture could offer your business.
- For Nigerian Participants, In Nigeria the Local Competition is being run by Pernod Ricard Nigeria,RC 1953346 , 7th Floor, CBC Towers, Plot 11 Olubunmi Owa Street, Lekki Phase 1 . The Local Promoter is legally responsible for all aspects of the Local Competition.
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