Friday 29 Mar 2024
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Chivas Regal launched The Venture — a programme initiated by the whisky maker to support the world’s up-and-coming social entrepreneurs — in Malaysia this year.

The Venture gives promising start-ups in Malaysia an opportunity to compete in the international arena and win a share of US$1 million in funding.

Sebastien Mouquet, managing director of Pernod Ricard Malaysia Sdn Bhd, tells The Edge that it is the right time to launch the competition in Malaysia, which already has a robust and active engagement with social entrepreneurs and start-ups.

“We do not pretend to be the people launching social entrepreneurship initiatives. They already existed. The thing is, we believe we can also participate in this. In line with the Chivas’ philosophy, we believe we can win the right way and help support social entrepreneurship,” he says.

He adds that the Malaysian community is not new to social enterprise and the competition hopes to support the robust community that wants to “win the right way”.

“What I see in the social enterprise [space] in Malaysia is a community that is proactive and take initiatives to create rather than wait for help from the government or established institutions. We are not taking credit for these robust communities of entrepreneurs. What Chivas hopes to achieve is to be part of this progress, supporting and giving the opportunity for these start-ups to grow to the next level.”

The Venture gives social enterprises and start-ups more than just an opportunity to win a share of the US$1 million in funding.

“Through this competition, especially during the local stages, we hope to find and connect these social entrepreneurs. With these connections, they will be able to support and challenge one another to continue to innovate and grow,” Mouquet shares.

These entrepreneurs will also get exposure through various media channels, Chivas The Venture’s dedicated website and social media. This will help businesses with a positive social impact accelerate and gain visibility for their work, he says.

Besides that, The Venture will also help create stronger networking among social entrepreneurs and start-ups and the investment community.

For the local winners, Chivas will provide workshops and intensive coaching by industry experts during a Global Accelerator Week to support business growth and help scale up the impact.

The Venture was started in 2014 and is currently in its third year. In the first year, local competitions were held in 16 countries across five continents —Africa, Asia, Europe, North America and Latin America. This year, 32 countries, including Malaysia, from six continents will be taking part.

The Venture’s Accelerator Week

With the launch of Chivas The Venture in Malaysia, one promising local social enterprise will have a once-in-a-lifetime opportunity to participate in The Venture’s Accelerator Week programme.

Mouquet says inspiring workshops and intensive coaching by industry experts will be provided during a Global Accelerator Week to support business growth and help scale up impact.

“All the finalists will take part in a variety of intensive business programmes, which we hope will help them sharpen their skills. We have recruited a team of experts in partnership with Skoll centre at Oxford University to provide business and pitching support to the finalists,” he says.

Some of the world’s foremost entrepreneurial minds will provide motivation, inspiration and mentorship for the finalists during the Accelerator Week.

According to Mouquet, the workshops will provide a lot of insights into and practical ways of doing business. Topics discussed in the past include how to build a powerful brand, designing an impact thesis, communicating results, transforming ideas into actions, using digital technology for consumer insights and start-up marketing and raising funds from investors as well as the crowd.

Chivas The Venture’s 2015 impact report shows the feedback from the 16 finalists of the competition on Accelerator Week.

Mouquet thinks social entrepreneurship has to step up amid the global economic slowdown. Business as a force for good is not only a growing movement but a necessity in our changing world, he believes.

He is of the view that social entrepreneurship could be a key driver of the economy as it focuses on both the economic and social aspects of the community. The ability to balance both of these aspects will be beneficial to the country in view of the slower growth globally.

“If we balance the economic and social aspects of a business and manage to have people thinking about both these aspects — winning the right way, like how Chivas says — I think it can only be beneficial to the country,” he says.

He believes social entrepreneurship has a role to play in creating good initiatives that can make life better for the community while turning a profit.

He adds that social entrepreneurship is becoming an even more powerful platform for addressing global challenges.

“If we can encourage business to focus on 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.”

In Malaysia, social entrepreneurship has been gaining traction in the last few years with the establishment of various government-initiated as well as private organisations that provide support for those who aspire to use business as a force for good, Mouquet says.

Judging criteria

Winning entries should tackle a social or environmental issue with innovative and market-based solutions, and offer a sustainable and profitable business model.

“What is very important is that it has to be business. We are not talking about charity. It has to be something that is sustainable and can make money. Even if you have a fantastic social idea, if it is not profitable, it will not be able to stay for a long time.

“Second point:  It has to be innovative. We have to make sure that it’s not about copying an existing idea but to encourage new ideas. What is also important is the impact of these ideas on the communities — how to help people to have a better life,” Mouquet says.

He also highlights the importance of social entrepreneurs having the capacity to be a leader.

Leadership skills are important in order to convince people to choose their ideas. It is also important so that they can share their ideas as well as develop this business, he explains.

“It’s not only important to have a good idea but equally important to be able to defend it,” he says.

In Malaysia, the chairman of the jury is Ehon Chan, executive director of the Malaysian Global Innovation & Creative Centre. The members are Ho Kay Tat, publisher and group CEO of The Edge Communications Sdn Bhd; Freda Liu, producer and presenter at BFM 89.9 business radio station; and Mouquet.

Besides the points mentioned by Mouquet, every submission will be judged based on the five criteria as stated on its official website:

1) Market opportunity and size;

2) Demonstrable impact: measurable social or environmental impact and a model that can scale;

3) Sound business model and organisational strategy;

4) Financial feasibility and sustainability: can earn revenue; and

5) Skills, experience and commitment of management team.

 

PAST WINNERS

Jose Manuel


Victoria Alonsopérez


Yoshihiro Kawahara


Juan Nicholás Suárez


David Gluckman

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