Chivas Venture divides this year's $1m Venture Fund between 26 global Startups

by Startacus Admin

26 Social Enterprise startups share the $1m No-Strings Chivas Venture Fund 

Some good news with the announcement that due to the global COVID-19 outbreak, leading blended Scotch whisky, Chivas, will be distributing this year’s Chivas Venture $1 million fund evenly amongst the 26 global finalists.

The Chivas Venture has been in operation for six years and it provides $1m in no-strings funding to startups who blend profit with purpose to have a positive impact on the world.

To date, the Chivas Venture has given away $5 million in no-strings funding to social startups who have positively impacted over 2 million lives across 50 countries.

This year, 26 social enterprises have been selected from 26 countries, across five continents.

The finalists who were due to pitch for a share of the fund at the Global Final in June will now instead each receive $40,000 in funding which they can use towards creating positive change at what is such a testing time for people all across the world.

This year’s finalists have found unique and creative ways to tackle a wide range of social, environmental and economic challenges, many of which have been exacerbated by the global pandemic, especially in at risk, or isolated communities.

Pernod Ricard Chairman and CEO Alexandre Ricard commented:

“It is with great sadness that we have decided to cut short this year’s Chivas Venture competition due to the impact COVID-19 is having across the world. Now more than ever, our world needs the passion and dedication of those who want to bring about positive change. That’s why we have decided that each of our finalists should be provided with secure funding now, so they can continue their important work and continue to positively impact their communities in spite of these volatile conditions, which will be particularly challenging for fledgling businesses and the communities they serve.”

To find out more about Chivas Venture and the finalists who will be sharing this year’s fund, visit Chivas Venture or follow them on Twitter @ChivasVenture. Kudos to the team at Chivas Venture for this decision.

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Published on: 23rd March 2020