Three African Startups Selected for The Venture’s Global Final

 

 

Chivas Regal has announced the 30 startups selected for the global final of the third installment of The Venture, with the list including three African startups.

Launched in 2014, The Venture is a US$1million annual fund and global search to reward entrepreneurs with businesses that are creating positive changes. The Venture seeks to inspire, discover and reward those who believe that business can be a force for good.

Last year, Nigeria’s agricultural production and processing company Fresh Direct made it to the global final of the competition, going on to raise US$1,700 through public votes.

Also at the global final, Kenya based peer-to-peer farming information startup, WeFarm came second, securing US$200,000 in the process.

This year’s edition was announced last year and followed same pattern as previous ones. After the applications period in each of the participating countries, a few entrepreneurs were selected for the national finals with winners emerging.

Now, the global finalists have been announced and it includes Nigeria’s Recycle Points, which won the local contest, Kenya’s Sanivation and South Africa’s I-Drop Water.

The three startups, alongside the other finalists, participated in The Venture’s Accelerator Week at University of Oxford, where they received world-class mentorship and support.

This will be followed by a voting period, from May 1 – June 4, to determine how US$250,000 of the US$1 million prize money would be distributed among the finalists.

Thereafter, the finalists will pitch to an expert judging panel and a live audience of influencers and change makers at the global finals of the competition on July 13 in Los Angeles for a share of the remaining US$750,000.

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