The Venture is a global search to find and support the most promising start-ups with the potential to succeed financially and make a positive impact on the lives of others. The most promising start-ups – 1 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 Venture is about enabling a new breed of entrepreneurs to realise their potential and gain exposure for their businesses. With $1M in funding for the most promising and innovative start-ups – The Venture seeks to enable those that want do business differently.
Eligibility Requirements:
- Entrepreneurs who have an established, for-profit start-up or business.
- Businesses in start-up 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 3 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 3 years).
- You will have a strong vision, a compelling idea and a solid business plan.
- You’ll also need to showcase how your business has a positive impact.
- You must be over 25 to enter The Venture.
- In order to enter as a potential start up or start up idea, your resident country must be in the list below.
a list of the countries that are participating in The Venture Year 2. In order to enter as a potential start up or start up idea, your resident country must be in the list below.
- Angola, Argentina, Australia, Brazil, Bulgaria, Chile, China, Costa Rica, Dominican Republic
- Estonia, Germany, Guatemala, Gulf, Hong Kong. Israel, Japan, Mexico, Nigeria, Panama
- Peru, Poland, Romania, Singapore, South Africa,Spain, Thailand, UK, USA
Prize:
- The prize for the winner(s) of the Global Competition is a share of a fund of US$1,000,000 (the “Fund”), with the prize money available in two separate stages: the weekly consumer voting and also the final pitch and exposure for your business through participating in the Global Competition.
- The Global Competition consists of the following three stages:
- the Accelerator Week comprising a series of lectures, workshops and coaching sessions;
- the Consumer Directed Competition which involves the allocation of US$250,000 of the total Fund on a weekly basis based on consumer voting; and
- The Venture Final Pitch in front of a panel of Judges, which results in the allocation by the Judges of the remaining US$750,000 of the Fund;
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.
GLOBAL EXPOSURE
The global finalists will feature on The Venture website and crowd-funding 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.
Funding
- After announcing the global finalists, the public will be able to vote for their favourite to determine how $250,000 of the fund is distributed amongst the finalists.
- Then, at The Venture Final pitch event in June or July 2016, each finalist will have a chance to pitch for a share of the remaining $750,000 in front of an expert judging panel.
Judging Criteria
Every submission will be judged on five criteria. These criteria are:
- Market opportunity and size.
- Demonstrable impact: measurable social or environmental impact and a model that can scale.
- Sound business model and organizational strategy.
- Financial feasibility and sustainability: can earn revenue.
- Skills, experience and commitment of management team.
Timeline:
The Venture finalists will be announced in March, 2016.
The Accelerator Week – The Accelerator week will take place in March or April 2016.
The global final – The global final will take place in June or July 2016.
For More Information:
Visit the Official Webpage of the CHIVAS REGAL THE VENTURE 2016 COMPETITION
[…] 2014, Chivas Regal launched The Venture, a $1million annual fund and global search to reward those who are using business to create positive change. Over the last […]