IMPACT REPORT2018

CONTENTS

Introduction 3

About the Chivas Venture 4

Our Impact 7

Alumni stories 12

Looking to the Future 18

This report was prepared in partnership with the Skoll Centre for Social Entrepreneurship, at the Said Business School, University of Oxford.

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INTRODUCTION

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Blending profit and purpose has always been core to our values.

At Chivas, we believe that blended is better – in life, in business and in Scotch – and that you don’t need to choose between making money and making the world a better place. This belief was instilled by our founding brothers, James & John Chivas, who supported their local community as their business grew in 19th century Scotland.

That's why every year, Chivas gives away $1million in no-strings funding to the most promising social entrepreneurs who are using business to have a positive impact on the world.

We are pleased to present our third impact report for the Chivas Venture and we invite you to read the next few pages to discover what has been achieved over the past 3 years.

Richard BlackChivas Regal Marketing Director

In 2014, Chivas Regal launched the Chivas Venture, our annual $1 million fund to support the most promising social

start-ups from around the world. In the first three years, the Chivas Venture expanded from 16 to 30 countries and

received close to 6000 applications.

As we continue to build a vibrant ecosystem for the social entrepreneurs we support, we hope that their stories will

inspire more innovative thinkers to take action. Ultimately, we believe that this will accelerate a movement where profit

meets purpose.

ABOUT THE

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THE KEY PILLARS OF OUR PROGRAMME

CHIVAS VENTURE CALENDAR 2016/2017

AUGOCT DEC FEB APR JUNE

NOV JAN MAY JULY

LOCAL COMPETITION Local finalists pitched in front of local experts, one candidate per country selected for the Global Final.

ONLINE APPLICATIONS Entries submitted on Chivas.com

ACCELERATOR PROGRAMME 3-day course in the UK, including one-to-one pitch coaching and inspiring workshops from leading experts.

ONLINE VOTINGThe public decided how the first $200,000 of the fund was distributed amongst finalists.

FINAL PITCH Global finalists pitched for a share of the remaining $800,000.

ALUMNI COMMUNITY On-going support (PR, networking) of past finalists.

MARSEPT

Acceleration through Learning

We provide inspiring workshops and

intensive coaching from industry experts

during a global Accelerator Programme

to support business growth and help

scale impact

Media Exposure

We help entrepreneurs to

gain exposure through various media channels

as well as our dedicated website

and social media channels

Financial Support

We provide $1 million 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, like-minded

community to support and challenge them

as they grow

Impact Community

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CHIVAS VENTURE FINALISTS AROUND THE WORLD

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ANGOLA HABITEC (2016)

ARGENTINA XINCA (2017) INCLUYEME (2016)

AUSTRALIA WORDS WITH HEART (2017) POLLINATE ENERGY (2016)

BELGIUM BEEODIVERSITY (2017)

BRAZIL LIVRE (2017) EPITRACK (2016) MGOV (2015)

BULGARIA SEA HARMONY (2017) BEE SMART (2016) ARTHESIS (2015)

CHILE DIAGNOCHIP (2016) ALGRAMO (2015)

CHINA FIRST RESPOND (2017) MOTIONECO (2016) COOLPEDS (2015)

COLOMBIA BIOESTIBAS (2017) CONCEPTOS PLASTICOS (2016) DISECLAR (2015)

CZECH REPUBLIC SENS FOODS (2017)

DOMINICAN REPUBLIC SOLOCOCO (2017) CONUCO SOLAR (2016) ECO MENSAJERÍA (2015)

ESTONIA SENTAB (2016)

GERMANY GREEN CITY SOLUTIONS (2017) COOLAR (2016)

GREECE LADDROLLER (2017)

GUATEMALA WAKAMI (2016)

HONG KONG BYT (2017) JOBDOH (2016) DIAMOND CAB (2015)

HUNGARY NOW TECHNOLOGIES (2017)

ISRAEL INTENDU (2017) EYE CONTROL (2016)

JAPAN FACTELIER (2017) MOLCURE (2016) SENSPROUT (2015)

KENYA SANIVATION (2017)

MALAYSIA FOLO FARMS (2017)

MEXICO WEAROBOT (2017) ICH (2016) ECHALE (2015)

NETHERLANDS AFRICAN CLEAN ENERGY (2017)

NIGERIA RECYCLEPOINTS (2017) FRESH DIRECT (2016)

PERU POWER MUNDO (2016)

POLAND NEXBIO (2017) MIGAM (2016)

PORTUGAL SUN CONCEPT (2017) COLORADD (2016)

ROMANIA SOWAT (2017) SAFE DRIVE (2016)

SLOVAKIA SMARTHEAD (2017)

SOUTH AFRICA I-DROP WATER (2017) CRASHDETECH (2016) LUMKANI (2015)

SPAIN SEA2SEE (2017) ALZHUP (2016)

THAILAND SIAM ORGANIC (2017) LOCAL ALIKE (2016) SOCIALGIVER (2015)

UAE NOW MONEY (2017) DUMYE (2016) TAKA SOLUTIONS (2015)

UKRAINE LINE24 (2015)

UNITED KINGDOM OLIO (2017) WEFARM (2016) TWO FINGERS BREWING (2015)

UNITED STATES DAYONE RESPONSE (2017) DISEASE DIAGNOSTIC (2016) VENDEDY (2015)

URUGUAY CHIPSAFER (2015)

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OUR IMPACT

In January 2018, we interviewed past finalists from the first three years of the Chivas Venture to analyse the impact that

the Chivas Venture had on their start-ups.

The impact assessment will play an integral role in helping us refine the Chivas Venture programme, to maximise the

effectiveness of our funding and our social benefit over time.

THE FIRST 3 YEARS OF THE CHIVAS VENTURE

IMPROVING OVER1 MILLION LIVESIN OVER 40 COUNTRIES ACROSS 6 CONTINENTS

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6,000

APPLIC

AN

TS $3mIN

FUN

DIN

G73

FINA

LISTS

Climate Change

Land & Oceans

Fighting Waste

Clean Energy

Water & Sanitation

Access to Jobs

Education Health & Well-being

AREAS OF IMPACT

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IN 2015 VS 2017

184%INCREASE IN

CLIENTS/CUSTOMERS

162%INCREASE IN

FULL-TIME EMPLOYEES

CHIVAS VENTURE FINALISTS ALMOST

TRIPLEDTHEIR COMBINED NET

REVENUE“The media exposure Bioestibas received through participating in the Chivas Venture has increased demand for our products both nationally and in neighbouring countries. As a result, we have expanded our production capacity by 11 times.”

ALVARO VASQUEZ, BIOESTIBAS (COLOMBIA FINALIST, 2017)

A few impact highlights reported by Chivas Venture finalists :

24 MILLION LITRES of safe drinking water provided

23 000 HOUSEHOLDS given access to safe energy

8 MILLION trees saved

60 MILLION TONNES of CO2 emissions abated

75 000 DAYS of education for women and girls

1,300 TONNES of waste recycled

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“The Chivas Venture was a great platform to meet like-minded social entrepreneurs, enabling us to share different perspectives and network at a global level.”

TRICIA COMPAS-MARKMAN, DAYONE RESPONSE (USA FINALIST, 2017)

“The competition has given me global validation as a social entrepreneur, it has made me more intentional and impact driven as a business woman.”

CHIOMA UKONU, RECYCLEPOINTS (NIGERIA FINALIST, 2017)

98%“Through the Chivas Venture

I have gained a network of social impact focused peers”

89%Have or intend to

collaborate with other Chivas Venture finalists.

96%“The Chivas Venture has improved my skills as a social entrepreneur”

During the competition, Chivas Venture creates a Whatsapp group for finalists to engage with one another. After the close of the competition, alumni continue to use this platform as a means to explore opportunities to collaborate. The format they anticipate this collaboration taking varies widely, although introductions, business advice and help with geographical expansion were the most prominent aspects.

“Chivas Venture drew great attention to our work, gave us valuable tools to further communicate those efforts, and introduced us to a world of social entrepreneurs and institutions that indicated our passion for business as a force for good. It gave us new perspective and created lasting friendships that continue to inspire us.”

PAUL WINKEL, POWER MUNDO (YEAR 2 FINALIST)11

“Chivas Venture drew great attention to our work, gave us valuable tools to further communicate those efforts, and introduced us to a world of social entrepreneurs andinstitutions that indicated our passion for business as a force for good. It gave us newperspective and created lasting friendships that continue to inspire us.”

PAUL WINKEL, POWER MUNDO (YEAR 2 FINALIST)

Over half of finalists reported using some of their Chivas Venture funding for marketing purposes, an area that can be a key barrier to growth for start-up businesses. This, and other ways in which the funding was used are detailed in the figure below.

Marketing

Salaries/Staffing

Increasing Production

Equipment

Technology

Prototype Testing

Other

53%

37%

29%

20%

20%

10%

15%

Over half of finalists reported using some of their Chivas Venture funding for marketing purposes, an area that can be a key barrier to growth for start-up businesses. This, and the other ways in which the funding was used are detailed in the figure below.

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The next part of this report takes a closer look at the global winners of the Chivas Venture 2017 (Year 3),

and the impact that this experience had on their business.

ALUMNI STORIES

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SUMMARYSiam Organic has created the Jasberry rice brand to address Thai farmers’ poverty. They train farmers to adopt rigorous organic farming methods, which unlocks higher profit margins, whilst ensuring more sustainable and healthy food production practices

LOOKING BACK The funding was used to implement a new IT system to work closer to our beneficiaries – a decision that was largely influenced by the impact measurement advice at the Chivas Venture Accelerator Programme. Once operational, this platform will enable all field staff to conduct site visits with a tablet and capture feedback regardless of farmer literacy levels. Improved farming data will improve agricultural yields and more data around livelihoods will improve the overall impact.

As a consumer product, there is great value in having a platform such as the Chivas Venture to promote

our brand internationally. We have partnered with a US company to allow for capacity expansion, and this launch will be a stepping stone for growth. In addition, we have already received interest from companies in various other markets including New Zealand, Hong Kong and Singapore.

A STORY FROM THE FIELDMs. Ma was a farmer in one of the cooperatives Siam Organic worked with in the north eastern part of Thailand. Just 3 years ago she had 6 acres of land, used chemicals in her farm and had US$10,000 of debt. After working with Siam Organic, growing Jasberry rice for 3 years, she's now debt-free, all her land is certified organic and she now owns 13 acres of land. Most importantly all her 3 children that were working at a factory in the city are now back working on the farm with her as it is a more sustainable source of income for them.

THAILAND

“The truth is, there are lots of places to source funding - but the Chivas Venture is so much more than that: the coaching, training and friends are all invaluable and unrivalled. Being coached at the Accelerator Programme

was one of the best experiences of my life and taught me so much about leadership required to take my social enterprise to the next level.”

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SIAM ORGANIC - NEIL DEJKRAISAK

Business StageGrowth

EstablishedApril 2011

Funding$404,000

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SUMMARYRecycle Points is a waste recycling social enterprise which provides incentives – financial or otherwise – for collecting recyclable waste. The goal is to promote a culture change towards environmentally-friendly waste disposal.

LOOKING BACK The Chivas Venture funding enabled Recycle Points to improve our collection model and expand in zones outside Lagos. We introduced the Waste Pickers Initiative, providing cash incentives for waste pickers, which created over 220 jobs within the first 3 months. We partnered with a leading bank in Nigeria to open bank accounts for waste pickers, thus providing financial inclusion to a section of the population who previously didn’t have access. We carry out community rallies, where hundreds of volunteers join us to clean-up and educate others on the benefits of waste recycling. A culture change is starting to happen in Nigeria!

As an entrepreneur, the Accelerator Programme coaching has improved my story-telling skills for impact, and has made me more impact-driven and ambitious in my business decisions. The media exposure gave us international recognition and opened up new business opportunities.

A STORY FROM THE FIELDThe inspiration for the Waste Pickers Initiative came from listening to our beneficiaries – specifically hearing feedback from women and youth in one of the communities with the highest number of recyclers. They highlighted the desire to pick waste as full-time jobs so they can earn money instead of the original points system. This model can be scaled to other communities and has been recognised by key government officials as a valuable opportunity to help address unemployment in Nigeria.

NIGERIA

“My experience with the Chivas Venture has made me more intentional in running a social enterprise – ensuring we maintain the valuable impact while earning profit which in turn contributes towards growing the economy –

often in impoverished areas”

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RECYCLEPOINTS - CHIOMA UKONU

Business StageGrowth

EstablishedAugust 2012

Funding$205,000

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SUMMARYBioestibas designs and produces cargo pallets made from hydrangea cut-offs instead of wood. This reduces deforestation – both legal and illegal - while also preventing the flower waste from being burnt or dumped into landfill. Additionally, the cost of removing this waste is generally the responsibility of the growers – primarily impoverished women living in rural Colombia. This cost is now alleviated by Bioestibas who collects the waste for free.

LOOKING BACK Bioestibas used the funding received from the Chivas Venture to increase our pallet production and expand the premises to accommodate this growth. “Before the Chivas Venture we could make 2,000 to 3,000 pallets a month. Now we can make over 30,000!”

In addition to funding, Bioestibas also received valuable media exposure, which unlocked new business opportunities.

There is now government interest in the pallets – that largely came through the exposure received from the Chivas Venture. Following the competition, Bioestibas adapted our production line to ensure that all components are internationally compliant. This will open up further opportunities for expansion and impact.

A STORY FROM THE FIELDAside from the environmental benefit for all, the people who most benefit from Bioestibas are the flower growers. Our solution not only saves them the cost of shipping the stems to landfill, but also avoids them getting fined for burning the stems. One of our beneficiaries commented on national television: "Every day we pray for Bioestibas because if they do well, we will also do great."

“The media exposure Bioestibas received through participation in the Chivas Venture has increased demand for our products both nationally and in neighbouring countries. As a result, we have

expanded our production capacity by 11 times!”

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BIOESTIBAS - ALVARO VASQUEZ

Business StageGrowth

EstablishedJuly 2015

Funding$86,000

COLOMBIA

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SUMMARYIntendu is a brain-body cognitive training software for people with brain impairments. Designed by an interdisciplinary team of medical experts, this unique “video game” is designed to be used at home or in the hospital, to continue and improve brain rehabilitation.

LOOKING BACK The biggest impact for Intendu was the PR coverage, helping us to become internationally recognised and credible. The competition brought significant exposure to our business including TV broadcast and multiple articles in leading Israeli and international media.

The funding received was used to develop new software and purchase equipment to extend our impact. This included purchasing 3D cameras to make the Intendu Brain Trainer for Acquired Brain Injury accessible to home users. We also developed a module to enable therapists to care remotely for patients training at

home. While these had been a priority for some time, the funding received from the Chivas Venture helped accelerate their development.

A STORY FROM THE FIELDCognitive functioning is a massive part of who we are. As such, when this is impaired either through injury or aging, it has a huge impact on people’s lives and those of their families.

“Intendu is changing my husband’s recovery and life for the better. His ability to move, to speak and to reason are improving before my eyes!” Wife of Intendu User

“We consider Intendu an integral part of our daughter’s daily therapy. We incorporate it into our day along with her physical therapy and occupational therapy to help her get closer to her goals. The game remains an activity that she looks forward to.” Mother of Intendu user

“The Chivas Venture, and specifically meeting like-minded social entrepreneurs, has given me perspective, strengthened my vision and enhanced my motivation and sense of purpose.”

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INTENDU - SON PREMINGER

Business StageStart-Up

EstablishedAugust 2012

Funding$54,000

ISRAEL

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SUMMARYI-Drop Water installs water purification and dispensing units in retail outlets, to sell safe drinking water at a price that is affordable to anyone. Shoppers refill water containers, thus reducing plastic waste, and support local shop owners who receive half of the revenue from water sales.

LOOKING BACK The Chivas Venture exposure and network enabled I-Drop to secure one of our largest retail clients to date. The funding received ensured that our business could remain operational for the remainder of 2017, giving us more time to find the right, mission-aligned investor. In January 2018, we signed an investment agreement with a global leader in water purification systems. Through this partnership, we seek to expand further in South Africa and elsewhere on the continent, improving access to safe drinking water.

Participating in the Chivas Venture also helped us improve how we communicate about our social mission. The marketing video created by Chivas is still a useful communication tool that we have been using beyond the competition, and which we couldn’t have afforded to produce by ourselves.

A STORY FROM THE FIELDIn November 2017, I-Drop installed a water purification and dispensing unit in a shop in Manenberg township, an underserved area of Cape Town. During a visit to the shop in January 2018, James saw two girls walking out with 5-litre refills that they had just purchased from the I-Drop unit. These two refills cost this family ZAR 10.00 compared to around ZAR 50.00 for the same amount in bottled water.

“From the moment of applying, to now, the effect the Chivas Venture has had on I-Drop Water is unquantifiable. I can’t imagine what the business and team would look like without the Chivas Venture”.

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I-DROP WATER - JAMES STEERE

Business StageStart-Up

EstablishedJune 2015

Funding$52,000

SOUTH AFRICA

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LOOKING TO THE FUTUREAs this report is being published, the Chivas Venture has now completed it’s

fourth year, having received over 8,000 applications and accelerated 100 startups since its launch.

In May 2018, we hosted the biggest ever Chivas Venture Global Final at The Next Web Conference in Amsterdam. Finalists pitched in front of over

2,000 attendees and our expert panel of judges, including will.i.am.

As we kick of the fifth edition, we will continue to follow the progress of past finalists and seek innovative ways to put social entrepreneurs on the global

stage. We could not have done it without the support of a strong and growing network of partners around the world, in particular the Skoll Centre for

Social Entrepreneurship at the University of Oxford.

The Chivas Venture is not just a $1 million fund, it is a global ecosystem of social entrepreneurs who share learnings & experiences to grow collectively.

It is a global movement, and a call to action for all of us.

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