CHIVAS THE VENTURE
2015 IMPACT REPORT
Evaluating the impact
of Chivas The Venture 2015
Contents
Chivas The Venture
1
Chivas The Venture
2
Our 2015 Impact Report
Introduction by
Richard Black
Brand Director Chivas Regal
3
About The Venture
4
How We Support Social Entrepreneurs Across the Globe
5
Overview of the 2015 Programme
6
The Venture 2015 Finalists
8
Overall Finalist Impact
10
The Venture 2015 Winners
18
Looking to the Future
20
With Thanks to Our Partners
In October 2014, Chivas Regal launched
a global search to find and support the world’s
most promising social entrepreneurs.
Using business as a force for good has always been
core to our values – dating back to 1801, when
James and John Chivas founded our company
with the belief that generosity and success go
hand in hand. Today, we are excited to celebrate
this spirit as it continues to grow in a new
generation of impact-focused entrepreneurs.
We are pleased to present our first impact report
for Chivas The Venture and invite you to read the
next pages to discover what was achieved in Year 1.
The Venture Finalists, 2015
B
theventure.com
#theventure
1
Our 2015 Impact Report
About The Venture
Outlined in our first impact report you will find our
vision for Chivas The Venture, reflections on what
was achieved in Year 1, an analysis of the impact our
investment has had on the five winning ventures, and an
overview of where we are headed in 2016 and beyond.
At Chivas Regal, we believe in action –
and we believe it is what we do today that
changes tomorrow.
We believe that this impact assessment will play an
integral role in supporting Chivas The Venture to
maximise our social benefit and tailor the effectiveness
of our programme and funding over time.
In 2014, Chivas Regal launched The Venture,
our global search to reward those who believe
business can be a force for good – those
who are committed to winning the right way.
In Year 1 of The Venture more than 1,000 social
entrepreneurs applied, and 16 of the best were
selected to compete for $1Million in funding.
Our
Vision
Our
Objectives
Anticipated
Outcomes
Business as a force
for good becomes
business as usual
Find and connect
social entrepreneurs
The Venture
Alumni Network
grows globally and
alumni are active
in supporting
one another
Businesses with
positive social impact
are accelerated and
connected, and gain
visibility for their work
Support high
potential,
high‑impact
businesses around
the globe
Inspire others to
use business as a
force for good
2
theventure.com
#theventure
The Venture brings together
the most inspiring change‑makers
at the forefront of a growing
movement that is using business
to transform our future for the
better. In launching The Venture,
we aimed to amplify that change.
As we continue to build a
vibrant ecosystem for the social
entrepreneurs we support, we hope
that their stories will inspire more
and more innovative thinkers to
take action. Ultimately, we believe
this will accelerate a movement
where business as a force for good
becomes business as usual.
The Venture 2015 Winners at the
Final Event, San Francisco
Social impact
businesses have
access to the
resources they need
to grow their business
and scale their impact
Chivas is a hub
within a vibrant
ecosystem of social
entrepreneurship
3
How We Support Social Entrepreneurs Across the Globe
Overview of the 2015 Programme
Chivas The Venture seeks to find and connect innovative thinkers.
We are focused on supporting high potential social businesses
to accelerate and scale their impact.
Our programme is made up of four key pillars...
16
1000
16
5
$1m
16
Markets
Applicants
Acceleration
through Learning
Media
Exposure
Financial
Support
Impact
Community
Finalists
We provide inspiring
workshops and
intensive coaching
from industry
experts during a
global Accelerator
Week to support
business growth and
help scale impact
We help
entrepreneurs
to gain exposure
through various
media channels as
well as our dedicated
website and social
media channels
We provide
substantial grant
funding to the
winning ventures
in our competition
to enable
entrepreneurs
to invest in their
businesses’ future
Through the
programme,
entrepreneurs are
connected with
a global, likeminded community
to support and
challenge them
as they grow
Winners
in Funding
In 2014 we launched Year 1 of Chivas The Venture,
working with our teams across 16 countries to
find the most promising social entrepreneurs.
COUNTRY-LEVEL COMPETITION
KEY WORKSHOP TOPICS
From September through December
2014, local competitions were
held in 16 countries across five
continents – Africa, Asia, Europe,
North America, and Latin America.
Representing 16 extraordinary
start-ups, the strongest applicants
in each geography won a trip to our
Accelerator Week in Silicon Valley
and the chance to pitch for a share
of The Venture’s $1Million Fund.
−− Building a powerful brand
GENERATING MEDIA MOMENTUM
−− Designing an impact thesis
−− Communicating results
−− Transforming insights into
actionable ideas through
rapid prototyping and
empathetic design-thinking
−− Using digital technology
for consumer insights and
start-up marketing
−− Raising funds from investors
Over five weeks in May through
as well as the crowd
June 2015, the 16 finalists launched
their campaigns to win votes from the
public through inspirational stories
of hard-hitting impact. With $50,000
given out by The Venture each week,
in proportion to the votes received,
the finalists received much deserved
support for their social missions.
GLOBAL ACCELERATOR WEEK
From July 18-25, 2015, the 16
finalists gathered in Silicon Valley
for The Venture’s Accelerator Week,
which offered four days of motivation,
inspiration and mentorship from
some of the world’s foremost
entrepreneurial minds. To develop
our finalists’ business-building skills,
we provided group and individual
coaching sessions. To help them
with their pitch presentations,
we provided individualised
pitching practice and feedback
sessions, from industry leaders.
Partners
The Venture Accelerator Week 2015,
San Francisco
4
theventure.com
#theventure
5
WINNING FINALIST
The Venture 2015 Finalists
Selected from over 1,000 applications, our 16 finalists represent
the best in aspiration and potential to effect positive change.
DOMINICAN REPUBLIC
UK
UKRAINE
Vendedy
Conuco Solar
Line 24
Coolpeds
SenSprout
$5,210 in funding
Creating an online
market place for
street vendors
$3,445 in funding
A solar farm that will
reduce CO2 and the
national energy
Two Fingers
Brewing Co.
$27,621 in funding
24 hour medical
alarm services for the
elderly and disabled
$17,082 in funding
Environmental
Transportation for a
Technological Age
$151,524 in funding
Low-cost water sensor
technology that helps
farmers manage their
crops and fields
UNITED STATES
JAPAN
MEXICO
BRAZIL
BULGARIA
HONG KONG
!Échale!
MGov
Arthesis
Diamond Cab
$27,621 in funding
Helping families
build a future, one
house at a time
$8,161 in funding
Public policy
management and social
impact consultancy
$17,487 in funding
Helping amputees
regain their confidence
through extraordinary
prosthetics
$5,159 in funding
Hong Kong’s first ever
barrier-free taxi service
COLOMBIA
6
$3,907 in funding
A brewing company that
donates all profits to
Prostate Cancer UK
CHINA
CHILE
URUGUAY
SOUTH AFRICA
GULF
THAILAND
Diseclar
Algramo
Chipsafer
Lumkani
Dumyé
Socialgiver
$112,226 in funding
Turning waste
materials into stylish,
in-demand furniture
$327,523 in funding
Providing a
revolutionary
affordable food
distribution system for
low-income families
in Latin America
$163,323 in funding
Transforming the
way farmers care
for their livestock
with technologically
advanced tagging
$81,581 in funding
Innovative fire
detectors that
mitigate the loss
of life and property
in low-income areas
$4,986 in funding
Hand-crafting
personalized and
purposeful cloth
dolls for marginalized
children
$17,269 in funding
Tapping into consumer
spending power to fund
critical social projects
theventure.com
#theventure
7
Overall Finalist Impact
A year on from the 2015 programme, we collected
feedback from our 16 finalists through questionnaires
and interviews, to report on the impact The Venture
has had on their enterprises and to use the information
to refine the future plans for The Venture.
Our 16 finalists have been hard at work since
The Venture and it has been an exciting journey for
them all. A few have pivoted, but nine of the 16 report
increased revenue, ten have hired more people and five
have invested in software and technology developments
launching new and exciting platforms. Our finalists
have expanded from 16 countries into over 50 (at last
count in 2016), positively impacting the lives of over
200,000 people – and continue to grow beyond this.
COLLECTIVE IMPACT
Supporting over 200,000 beneficiaries
in over 50 countries
$2.5m in revenue
Serving 189,116 customers
BUSINESS GROWTH
+55%
in Employees
+145%
in Revenue Growth
9 of 16 ventures have
+44%
in Customers
+71%
in Online Followers
grown their team
+49%
in Beneficiaries
reported higher revenue than
the year before The Venture
10 of 16 ventures have
7 of 16 ventures have
launched in new markets
5 of 16 ventures invested in
their technology platform
5 of 16 ventures expanded
their production capacity
ACCELERATOR WEEK FEEDBACK
93% 73% 73%
of our finalists agree that
The Venture Accelerator Week
accelerated their social impact
of our finalists agree that
The Venture Accelerator Week
gave their business valuable publicity
of our finalists agree that
The Venture Accelerator Week
motivated them to keep fighting
the good fight for social impact
80% 73% 67%
of our finalists agree that
The Venture Accelerator Week
significantly impacted their
business for the better
8
theventure.com
#theventure
of our finalists agree that
The Venture Accelerator Week
gave them a social impact network
of our finalists agree that
The Venture Accelerator Week
improved their skills as a
social entrepreneur
9
CHILE
The Venture 2015 Winners
Algramo
The remainder of this report will focus on the
five winners of The Venture 2015, and the
impact that this experience – as well as the
grant funding – had on their businesses.
1
Achieving average revenue growth of 236% ,
the five 2015 winners have demonstrated remarkable
progress across a diversity of fields: safety,
environment, community development, water use
and livestock monitoring in agriculture. Since winning
The Venture, these five social entrepreneurs from
Chile, Uruguay, Japan, Colombia and South Africa
have expanded their teams by 43% on average. At the
same time, our winners collectively more than doubled
the number of beneficiaries they served in 2015,
and in 2016 are projected to impact the lives of over
100,000 individuals in communities across the world2.
Received $327,523 in The Venture funding
ALGRAMO
Providing affordable access to
staple foods in Latin America
IMPACT AREA
Nutrition
“We envision a future in which
everyone in Latin America
overcomes poverty.”
Jose Manuel
CEO, Algramo
OPERATING IN
Chile, Colombia
REVENUE GROWTH 2014/15
700%
TEAM SIZE
28
REACH
88,000 people
IMPACT
−− 22,000 families saving an
average of 15 dollars per
month on staple goods
−− Operating in 740
stores, up from 280
prior to The Venture
NEXT STEPS
Expand across Latin America
*As of May 2016
Affordable food is hard to come by
in the outskirts of Santiago, Chile,
where much of the population lives
on less than $4.00 USD per day.
Buying staple foods in small amounts,
low-income families save up to 40%
more than they would at larger stores.
Algramo is focused on solving this
access gap to affordable staple
foods in Latin America. Algramo has
innovated simply and disruptively,
purchasing staple foods such as rice,
beans, lentils and sugar in bulk and
distributing them at much lower
costs to families through a local
supply chain of convenience stores.
Since winning The Venture in July
2015, Algramo has more than doubled
the number of stores in which they
operate. Using their success to
fuel further growth, they invested
their winnings into expanding their
distribution team, launching a more
efficient vending machine model, and
testing new eco-friendly packaging.
Today, they are helping to reduce the
monthly cost of household purchases
for more than 80,000 people, with
the knock-on effects of enabling
families to access to proper health
care and better education for their
children. Splitting the profits evenly
with the shopkeepers, Algramo are
also uplifting local economies.
“The collaborative
ethos of entrepreneurs
when looking for social
solutions was inspiring.”
Jose Manuel
CEO, Algramo
1. Average of all five finalists’ year on year change from 2014 to 2015
2.Based on finalists’ reports of their projected beneficiaries for 2016
10
theventure.com
#theventure
11
URUGUAY
JAPAN
ChipSafer
SenSprout
Received $163,323 in The Venture funding
Received $151,524 in The Venture funding
CHIPSAFER
Monitoring livestock to
strengthen the value chain
across South America
IMPACT AREA
Environment
“I envision a future in which
farmers can increase their
production with no negative
impact on the environment.”
Victoria Alonsopérez
CEO, ChipSafer
OPERATING IN
Uruguay, Brazil
TEAM SIZE
5
FIELD TESTING
5 farms for initial testing
IMPACT
Work in progress
NEXT STEPS
Continued R&D, with plans
to have animals monitored
in Argentina, Paraguay
and Chile by 2017
*As of May 2016
In 2001, an outbreak of foot
and mouth disease devastated
Uruguay’s economy. With cattle
being Uruguay’s principle export,
this epidemic not only affected the
rural sector, but the whole country,
causing huge economic losses,
poverty and unemployment.
ChipSafer is developing new
technologies to control livestock
disease, reduce environmental
harm, and improve cattle farming
in the Amazon region.
ChipSafer gained valuable exposure
through The Venture. Since winning,
ChipSafer have garnered connections
with many more farmers and the
enterprise has pivoted to focus
on traceability of livestock illness,
investing in staffing and software
development, and collecting data
across the supply chain. Through
a joint venture in Brazil, ChipSafer
is integrating user and field‑testing
improvements to develop a more
cost-effective platform that
generates accessible data for
stakeholders across the value chain.
SENSPROUT
Developing technologies
to produce more food
with fewer resources
IMPACT AREA
Environment
OPERATING IN
Japan
REVENUE GROWTH 2014/15
Launched 2015
TEAM SIZE
5
PILOT CLIENTS
10 farms
“2015 was a year of
learning for ChipSafer!
Without The Venture
I would have probably
closed my business last
year. Now I am confident
that ChipSafer will have a
huge impact in the world.”
IMPACT
−− 300 soil moisture sensors
deployed in one farm
−− Soil moisture technology
proven across diverse
soil environments
NEXT STEPS
Further research, expanding
production and deployment
*As of May 2016
Victoria Alonsopérez
CEO, ChipSafer
“Our vision is for SenSprout to
become the standard tool for
precision agriculture and a
game changer in the global
agricultural economy.”
Yoshihiro Kawahara
CEO, SenSprout
Environmental degradation is taking
its toll on local farmers across the
world, and is a self-perpetuating
problem, as soil water levels are
difficult to measure and change
more rapidly with climate shifts.
SenSprout makes farming more
efficient by empowering farmers
to produce more crops using
less water through low-cost,
wireless sensor technology.
SenSprout sensors are focussed
on addressing the complex and
interrelated challenges of climate
change, urbanisation, and the
vast quantities of fresh water
used in agriculture every day.
Since winning The Venture,
SenSprout have expanded their team
of engineers and delivered the first
generation of sensors. Focusing on
research and development through
ten pilot farms, SenSprout has
successfully developed two types
of low-cost soil moisture profile
sensors and have confirmed that their
sensors work in harsh environments,
both indoors and outdoors and
no matter the weather. Providing
real-time information on soil
conditions, SenSprout’s sensors
are enabling farmers to make
informed decisions about water
and fertiliser consumption, without
compromising crop quality.
“Drought is a global issue
affecting many people,
from California to Brazil
to India. We applied to
The Venture to get the
funding to commercialise
our research ideas and
make them a reality.”
Yoshihiro Kawahara
CEO, SenSprout
12
theventure.com
#theventure
13
COLOMBIA
SOUTH AFRICA
Diseclar
Lumkani
Received $113,226 in The Venture funding
Received $81,581 in The Venture funding
DISECLAR
Repurposing waste into
beautiful furniture
IMPACT AREA
Environment
“Our vision is to scale up our
social and environmental
impact across Latin America.”
Juan Nicholás Suárez
CEO, Diseclar
OPERATING IN
Colombia
REVENUE GROWTH 2014/15
400%
TEAM SIZE
5
REACH
150 recycler families
IMPACT
−− 20,000 kg of waste
recycled each month
−− 17,000 tons of CO2
emissions prevented in 2015
−− 2,000 trees saved in 2015
−− 120,750 tons of oil
saved in 2015
NEXT STEPS
Seeking investment
*As of May 2016 unless otherwise noted
14
In Colombia, 40,000 tons of
solid waste are produced per day,
yet only 5% of this is recycled. At
the same time, deforestation in
Latin America is affecting over
50,000 km2 per year, often for the
purpose of furniture production.
Where others see rubbish,
garbage and waste, Diseclar
sees opportunity. Through an
inventive manufacturing process,
Diseclar turns non-degradable
plastic and vegetable fibers from
agro‑industrial waste sites into
stylish, custom, eco-friendly pieces
of indoor and outdoor furniture.
The expert connections and
international exposure gained
through The Venture have supported
Diseclar to expand their sales
by five times (now serving over
180 customers) and to make headway
in new markets in Mexico, Ecuador
and the USA. As they continue
to develop new products to meet
customer demand, Diseclar say their
key challenge is building a culture
of recycling – which they are doing
through education and by example.
“The Accelerator Week
was a great opportunity
to improve our company
and to improve our pitch...
It was simply incredible
to share our experiences
and ideas with other
social entrepreneurs,
all around the world.”
Coming into The Venture with the
goal of recycling 5,000 kg of waste
per month, the company is now
Juan Nicholás Suárez
recycling more than 20,000 kg per
CEO, Diseclar
month. Investing their The Venture
funds into new machinery, Diseclar
have increased their production
capacity by 10 times – from processing
20kg/hour to 200kg/hour.
LUMKANI
Technology-enabled
early fire detection in
informal settlements
IMPACT AREA
Safety
OPERATING IN
South Africa, Namibia
REVENUE GROWTH
25%
TEAM SIZE
4
BENEFICIARIES
28,000 people
protected from fire
IMPACT
−− Fire alarms and
sensors deployed in
7,000 households
−− 100 fires detected,
including 10 major fires
NEXT STEPS
Expanding through an
insurance model and
developing a social
impact bond
*As of May 2016
“We envision a future where smart
sensors and technology increase
the safety, security and comfort of
billions of people living in informal
settlements around the world.”
David Gluckman
Co-Founder, Lumkani
In informal settlements in South
Africa, India and beyond, fires can be
utterly devastating. Loss of life and
property due to fire can entrench
poor families in cycles of poverty,
while leaving governments to beat
the huge cost of disaster relief.
Lumkani has created wirelesslynetworked, real-time fire
detection technology to
mitigate the devastating loss
that results from shack fires.
Investing their The Venture winnings
into developing a new mobile app and
launching a second, more advanced
version of their fire detector, Lumkani
have acquired new customers ranging
from NGOs and international
donors, to local and international
corporations, to governments and
individuals. They have nearly doubled
the number of units deployed
since they entered The Venture,
protecting the safety, financial
security and well-being of nearly
30,000 people. In the 100 fires
detected by Lumkani’s technology
so far, zero lives have been lost.
Lumkani report that The Venture
exposed them to valuable new
connections, including licensing
and manufacturing opportunities
in India. As a result, they are now
entering “a rapid growth stage.”
“The Accelerator Week
was a great opportunity to
hear about the landscape
of social enterprise and
see where we all fit into
the bigger ecosystem.”
David Gluckman
Co-Founder, Lumkani
theventure.com
#theventure
15
16
theventure.com
#theventure
17
Looking to the Future
Business as a force for good is not only a
growing movement, but a necessity in our
changing world. As articulated by Morgan
Clendaniel, Editor of Fast Company’s Co.Exist
and judge at our 2015 Venture Final...
Globally, we are engaging with the entrepreneurial
“It becomes more and
eco-system and are building a broad network
more apparent that we all
of social entrepreneurs, whilst continually
share in one economy.”
improving The Venture experience. We are
Adrian Grenier
shining a spotlight on our finalists, and sharing
Actor and social entrepreneur
their stories of businesses transforming
communities and tackling global challenges.
“Making an investment
“Business – for better, but often for worse –
is the most powerful force on Earth today.
If we can refocus all that energy into making
a profit while making people’s lives better,
instead of pursuing profit at all cost, it could
drastically reshape the world we live in.”
Amongst our target consumer we see increased
demand for brands and companies that, through
their business activities, help to transform their
communities. Social entrepreneurship is becoming
an ever more powerful platform for addressing
global challenges. Now in the second year of
The Venture, we at Chivas Regal remain committed
to investing in the social businesses that are creating
a better future – who are winning the right way.
As we welcome new rounds of inspiring
applications, we build an even stronger network
of innovators working to create a more sustainable
future. In its second year, The Venture fielded
over 2,500 applications from 29 countries,
and a new batch of extraordinary entrepreneurs
have embarked on their The Venture journey.
We invite you to follow their progress through
theventure.com and to join us in accelerating
this global movement for change.
18
theventure.com
#theventure
in social entrepreneurs
who are devoted to
mitigating social and
environmental challenges
produces shared value
across all sectors.”
Sonal Shah
Director, Beeck Center for
Social Impact and Innovation
The Venture Finalists, 2016
19
With Thanks to Our Partners
The future begins with all of us and the decisions
we make today to change the world for the better.
It has been our honor to get to know these amazing
entrepreneurs, to support them in their journey
and to witness the expansion of their goals and
impact. We could not have done it without the
support of a strong and growing network:
Andreessen Horowitz
Beeck Center for Social Impact and Innovation
Duarte
Evernote
ExperiencePoint
Fast Company
FuseProject
Google
IDEO
Indiegogo
Moving Brands
Mulago Foundation
Renee Freedman & Company
Skoll Centre for Social Entrepreneurship
TechShop
TriBeCa
20
theventure.com
#theventure
C
Chivas The Venture
theventure.com
#theventure
Investing in social entrepreneurs
from around the world to
catalyse a movement for
business as a force for good.