Chivas Regal has announced the 2016 edition of The Venture -- a $1 million annual fund and global search to reward those who are using business to create positive change.
Over the last two years, The Venture claims to have awarded $2 million to a new generation of extraordinary startups. The fund is made possible to empower extraordinary start-ups with a mission to inspire entrepreneurial thinkers.
The 2015/2016 edition of The Venture got more than 2,500 applications, but only 27 startups were selected. This year, Chivas Regal is looking for social enterprises from around the world that are using business to help create a better future.
Each application will be reviewed and the very best from each of the participating countries will be selected to take part in national finals. The selected startups will be given opportunities to pitch to a panel of business experts who will offer advice and decide which finalists have the most promise to continue to the global finals.
Startups that qualify for the global finals will head to The Venture Accelerator Week; an intensive five days of learning from world-class mentors. The Accelerator Week will involve expert trainers and inspirational mentors recruited by the Skoll Centre for Social Entrepreneurship.
The finalists will also receive support in preparation for the global finals in July, 2017. After the Accelerator Week, the finalists will have the chance to inspire the public to vote for their startup in order to receive funding. During the voting period, The Venture will allocate $250,000 of the $1 million fund by giving people the chance to vote for their favourite startup.
The final pitch session will take place at an exclusive event in front of a live audience of business experts, influencers and change makers. The qualifying startups will have the opportunity to pitch to The Venture's global panel of judges, who will decide where the remaining share of the $1 million fund will be awarded.
For more information about the last edition of The Venture, you can watch The Venture Final 2016 to see how $1 million was shared. To apply for The Venture by Chivas Regal, you will need to complete an online application form providing relevant details.