Chivas Regal has extended its The Venture competition to Nigeria, offering startups from the country the chance to compete for a share of the US$1 million fund.
The Venture looks to support social entrepreneurs, and was already open to startups in Angola and South Africa, as well as Argentina, Australia, Brazil, Bulgaria, Chile, Costa Rica, Dominican Republic, Estonia, Germany, Guatemala, Hong Kong, Japan, Mexico, Panama, Peru, Poland, Portugal, Romania, Singapore, Spain, Thailand and the United Kingdom (UK).
In this year’s competition, South African fire detection startup Lumkani – which sells early warning fire detection systems for informal settlements – won US$75,000 from Chivas Regal.
Applications are now open for the 2016 competition, and to herald its launch in Nigeria Chivas Regal has partnered Co-Creation Hub to reach out to social entrepreneurs across all fields and identify exciting business ideas.
Three main stages of the competition will take place, with a shortlist of 15 expected to make it to the Semifinal Boot-Camp after an open assessment process. Five startups will make it to the finals with the winner named in December. This winner will then proceed to the international stage of the competition, to engage with finalists from other parts of the world.
“We’re excited to announce the launch of The Venture and can’t wait to discover aspiring entrepreneurs across Nigeria. Whether your business focuses on technology, agriculture, healthcare, food or the environment, we want to hear about it,” said Pernod Ricard Nigeria marketing director Sola Oke.