Startups from Kenya, Nigeria and South Africa have been named as finalists for the third edition of the US$1 million Chivas Regal The Venture competition.
The Venture is a global competition aimed at identifying the world’s most promising social entrepreneurs.
African startups have been awarded cash previously at The Venture, with Kenya’s WeFarm a winner last year and South Africa’s Lumkani recognised in 2015.
Over 6,000 applications were received for this year’s competition, with three African companies amongst the 30 chosen finalists.
They are Kenya’s Sanivation, which installs container-based toilets that use waste as a resource, Nigeria’s RecyclePoints, which rewards customers for recycling waste, and South Africa’s iDrop Water, which purifies and dispenses water.
The 30 finalists will now attend a five-day Accelerator Week programme where they will take part in practical training and meet experts, while a public vote will take place in May. This vote will determine how an initial US$250,000 is split amongst the companies.0
The final event on July 13 in Los Angeles will see the remaining US$750,000 awarded to the overall winner.
“We were blown away by the calibre of entries for this year’s Chivas Venture competition. The businesses are a great example of the ingenuity and passion of entrepreneurs across the world who are committed to creating a better world for generations to come,” said Richard Black, Chivas Regal global brand director.
