Chivas Regal’ s The Venture has, over the past two years, offered $2 million to exceptional startups using business for positive change. They reward social businesses that do well by doing good and have $1 million fund set aside each year to that purpose
For the Nigerian leg of The Ventures, RecyclePoints emerged winner for her contributions towards better waste management and recycling in Nigeria. Having applied in October, 2016 with over 226 participants for the national finals, RecyclePoints, Mobicure and Ecofuture were the selected finalists.
In their own words, RecyclePoints is “a waste recycling and social benefit venture that operates an incentive-based scheme which collects recyclable materials from post consumers and in turn rewards them with “Points” which they can accumulate and use to redeem/shop for household items offered through our iRecycle store.”
They pitched on D-Day (15th December, 2016) at Intercontinetal Hotel to a panel that included Audu Maikori, Peace Hyde, Nnena Okekearu, Shola Ladoja, and Olivier Fages. Earning ₦1 million in the process, a spot to represent Nigeria and compete for the $1million prize money in Los Angeles.
Being successful at the national finals, they get to participate in The Ventures Acceleration Week; an intensive five-days of learning, mentoring and preparation for the high stakes pitch in July, 2017.