The idea that one business opportunity is better than another is not a new concept, but when the justification of a business by its impact on the environment, this idea suddenly becomes far more pertinent.
Would it be better for our environment if this business existed?
Working on a combined social entrepreneurial formula of: the idea viability, its social return on investment and the number of people that could benefit from this solution, The Venture 1 apportions a $1m fund across a field of 16 social entrepreneurs hailing from all over the globe, each with their own potentially global solution to a problem. The Venture came to a climax in the final where the remaining entrepreneurs – whittled down from 16 to 5 – pitched the potential of their start-up to create transformative social change to an expert judging panel that included actor & social entrepreneur Adrian Grenier, and hosted by the Late Late Show presenter, James Corden. The winner of Chivas Regal’s global search was Algramo from Chile, who was fittingly awarded the largest share of the fund, receiving $300,000 to further develop the pioneering food distribution enterprise.
Other finalists to come away with funding on the night included Chipsafer ($150,000) from Uruguay who use innovative tracking devices to transform the way farmers look after their livestock; SenSprout ($150,000) from Japan who aim to make farming more efficient using a wireless field-monitoring system; Lumkani ($75,000) from South Africa, a company that uses technology to decrease the risk of devastating fires in informal settlements, and Diseclar ($75,000) from Colombia who turn waste materials into stylish furniture.
The Venture – which saw more than a thousand social entrepreneurs apply for $1million in funding – culminated at The Final Pitch event at The Herbst Pavilion, San Francisco in front of a large audience. The evening featured the final five social entrepreneurs who pitched for their commitment to using business as a force for good.
The Final Pitch event was attended by a range of high profile entrepreneurs and business leaders from Silicon Valley and beyond. Also in the audience was Golden Globe nominated actor Oscar Isaac who starred in Chivas Regal’s Win The Right Way film, which helped launch The Venture by issuing a challenge to aspiring social entrepreneurs and the world at large to re-frame their meaning of success.
The judging panel which included Adrian Grenier, Sonal Shah, Alex Ricard and Morgan Clendaniel, assessed each business based on their ability to create sustainable change through a viable business model and potential to scale.
“Social entrepreneurship challenges society to reimagine what is possible and inspires us to create a better future and a better world. All of The Venture finalists tonight challenged us to imagine how business could transform a problem into an opportunity. They are all very deserving of support and show why it’s important for initiatives like The Venture to exist, to inspire as many brilliant minds from around the world as possible and to contribute to using business as a force for good.” – ADRIAN GRENIER
To find out more about the winners and the other finalists who took part in The Venture visit www.theventure.com.
- The Venture is Chivas Regal’s global search to find and support the most promising aspiring social entrepreneurs who want to succeed whilst making a positive impact on the lives of others. With over $1 million in funding and resources, The Venture will enable social entrepreneurs from around the world realise their potential and gain exposure for their business. ↩
