The top five South African startups who will be competing to represent the country at the international Chivas Regal The Venture contest and stand the chance to win a R4.8million grand prize, have been announced.
Currently in its second year, The Venture is an annual entrepreneur contest and mentoring programme which scouts for outstanding social startups across the world’s continents to help develop their business and compete for funding.
Regional competitions are held in 16 countries and the top performing one from each nation is selected to represent its country at the global finals. The top five from the 16 finalists are awarded a cash prize between $75 000 for fifth place and $300 000 for first.
These are the top five South African finalists:
The local winner last year was Lumkani, whose CEO David Gluckman went on to represent South Africa and placed fourth in the global leg.
“Year two of The Venture has shown us that South Africa is home to innovative people who are ready to change the communities they live in and beyond. The number of entries received doubled from year one, making the selection process challenging,” said Sibusiso Shangase, head of marketing, Chivas Regal.
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