Kilifi Moringa Estates is the Kenyan finalist of the Chivas Venture 2018. They will now represent Kenya at the Chivas Venture 2018 Global Final in May 2018 in Amsterdam.
Kilifi Moringa uplifts small-scale farmers in Kilifi by incentivizing and supporting them in growing Moringa. The plant is widely grown in the area and has a strong demand for both its oil and other properties, notably by the cosmetic industry.
The Chivas Venture is an initiative of Chivas Regal, one of the world’s leading Scotch whiskies. It awards $1 million to social start-ups that take part in the competition every year. Since its launch in 2014, 6,000 entrepreneurs have applied to take part in the competition. Last year, Kenyan startup Sanivation was named as a finalist in Kenya and represented Kenya in the global finals.
The Chivas Venture 2018 final will be hosted in conjunction with The Next Web (TNW) in Amsterdam on May 24th, 2018. Ahead of the final, the 27 entrepreneurs will take part in a three-day Accelerator Programme hosted at The Skoll Centre for Social Entrepreneurship at Oxford.
This is how the $1 Million will be shared out.
- The first $200,000 of the fund will be distributed based on the number of votes received during a three-week online voting period which will be from April 4th 2018.
- The finalist who will get the most votes will receive $50k, the next 4 runners-up will each receive $20k, and the remaining $70k (of the original $200,000) will be split equally amongst the remaining finalists.
- At the pitch event, each finalist will have a chance to pitch for a share of the remaining $800,000 in front of an expert judging panel.