$1m Fund: Chivas Regal in Search of Techpreneurs with Revolutionary Ideas

Technology entrepreneurs, “start-ups”, in Nigeria stand the chance to grab one million dollars ($1M) in funding as Chivas Regal, The Venture initiative, has been commenced for the second time in the country.

Chivas The Venture 2016/2017 was induced by a global report that 95% of young professionals are looking for businesses to take more responsibility in solving global problems.

Part of Chivas The Venture initiative plans are to provide start-ups with revolutionary ideas the opportunity to compete for a share of $1 million in financial investment, invaluable contacts and global exposure of their company as well as mentorship from world-famous business leaders.

This year, 32 countries across 6 continents will be taking part and applications will be accepted from any for-profit-startup that creates both financial value and a positive impact on the lives of others.

According to Craig Van Niekerk, marketing director, Pernod Ricard Nigeria, the initiative will lead to the emergence of new techpreneurs in Nigeria.

He said, “A new breed of entrepreneur is emerging in Nigeria; one that uses business ideas to succeed whilst making a positive impact on the lives of others. Chivas Regal launched The Venture to offer significant resources to help drive and support the social entrepreneurship movement worldwide and in Nigeria.

“We are thrilled to be back again this year to connect with local social enterprises and give them the opportunity to develop and grow their businesses.”

Chivas Regal has partnered with E.D.C (Enterprise Development Centre) – for this years’ initiative, to find and support promising local social entrepreneurs across all sectors.

According to Nneka Okekaro from E.D.C, the top three participants will pitch their business plans at a finale session to a panel of industry experts chaired by Audu Maikori.

“The entry has started. There are no limitations to any registered enterprise with its return on investment (ROI) not more than 1.5million dollars is eligible to put it,” Okekaro said.

According to Audu Maikori, “chief” head (Nigeria), what the judges will be looking for from the techpreneurs that will pitch at the national level, are those with revolutionary ideas on transforming wastes to wealth, adding that, aside the global competition, “the initiative is encouraging us as a Nigerian to be solution of our common problems with our business ideas”.

On his successful relationship with the brand, Maikori stated “Chivas and I share the same values – the belief that businesses must have a purpose beyond profit. It is therefore an absolute honour to be back again as a judge, to find like-minded individuals who are not only successful within their own rights but sharing their success with their communities. This is profit with purpose” he added.

The winner will join the other 32 participants across the world in an Accelerator Week programme in Oxford, UKand will represent Nigeria at The Venture final event in the USA, July 2017.