Diageo’s £10m for start-ups
Scotland’s biggest whisky distiller, Diageo, is pumping £10 million into a business accelerator programme aimed at entrepreneurs developing new spirits brands.
Distill Ventures, which claims to be the world’s first accelerator programme dedicated to supporting new and growing spirits businesses, will make the cash available to start-ups in its second year.
Set up by a group of entrepreneurs and backed by Diageo, it offers budding entrepreneurs a combination of cash investment and access to world-class industry expertise.
Distill’s chief executive Shilen Patel said: “The size of our investment fund this year reflects the success of last year’s candidates but also excitement about the future of our industry.
“We want to encourage entrepreneurs only just on the verge of getting started to apply – it’s never too early in the journey.”