The Venture, Chivas Regal’s global search for the world’s most promising social entrepreneurs, has rewarded the remaining share of its $1m fund to five finalists at its final pitch event in San Fransico.
Algramo from Chile received the largest share of $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 $1m in funding – culminated at The Final Pitch event at The Herbst Pavilion, San Francisco.
The evening was hosted by the Late Late Show presenter, James Corden who applauded all five of the social entrepreneurs who pitched for their commitment to using business as a force for good.
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.
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Grenier said: “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.”
Speaking on behalf of the finalists Jose Manuel Moller Dominguez from Algramo added: “What a night! I can’t believe I’ve received $300,000 in funding from Chivas – it’s truly life changing for me.
“The money will enable me to scale the business and really take it to the next level. I’m truly grateful for this experience and can’t wait to apply everything I’ve learnt since being in San Francisco.”
Social entrepreneurs from across the world are invited to apply for $1 million in funding as The Venture Year 2 kicks off from 10th August 2015, visit www.theventure.com for further details.