Is it possible for a business to be both profitable and enable positive change? That’s exactly what Scottish whiskey producer Chivas have set out to achieve with their million dollar fund for start-ups.
Their recent campaign entitled ‘Venture’ is giving entrepreneurs the opportunity to win a share of the $1 million fund with an innovative start-up idea that aims to use business as a force for good.
The most promising start-ups will have the chance to win a share of the $1 million fund and receive mentoring from some of the world’s most famous business experts. The most promising start-ups will be presented to the public who will also have the opportunity to vote for the business they believe should earn a share in the $1 million fund.
So what is the main aim of this campaign?
According to Chivas, and many successful entrepreneurs from around the world, it is possible for businesses to make profit while creating positive change. The Venture campaign aims to fund and support the most promising entrepreneurs that strive to achieve these two goals.
A recent report commissioned by Chivas explored the growing relevance of social entrepreneurship and found that social entrepreneurship is on the verge of hitting a tipping point into the mainstream. The movement underscores the opportunities and challenges facing a new generation of young professionals as they strive to use their energy and talent to build a better world.
Almost 95% of participants who took part in the report thought it was possible for a company to combine profit with having a positive social impact. The main obstacle to starting a social business was cited as a lack of access to funding by 68% of respondents.
The general findings from this report suggest that there is a growing recognition among a new generation of leaders that capitalism can be a force for good.