Diageo Launches Technology Funding Program

Diageo-logoDiageo has created a new global innovation programme – Diageo Technology Ventures – designed to solve existing business challenges and unlock new opportunities for growth by working with emerging technology companies and entrepreneurs.

Through the programme, Diageo will partner with companies across the globe to rapidly develop and pilot technology solutions in response to a series of focused business briefs. Successful applicants will work with some of Diageo’s leading talent to develop their solution and a US$100,000 fund will be committed by Diageo to support each pilot project.

Syl Saller, Chief Marketing Officer, said: “Tech start-ups and entrepreneurs are truly defining disruptive innovation, driven by an irrepressible appetite to experiment and a willingness to take risks. Diageo Technology Ventures allows us to access this world as we look to solve some of our biggest business challenges.

“This programme will also further build our internal ability to move with pace and provoke a genuine entrepreneurial mind-set in our pursuit of breakthrough innovation. It underlines our fundamental belief that through partnerships with forward-thinking start-ups and entrepreneurs we will deliver competitive advantage for our business.”

Cementing Diageo’s ongoing commitment to tackling irresponsible drinking, the programme will launch with a brief which seeks out technologies and platforms that can be used to help consumers to drink responsibly. The brief will challenge applicants to tap into existing digital behaviours or utilise platforms already widely used by young adults above the legal purchase age.

The second brief developed for launch will look for solutions to support retailers and distributors in countering retail theft.

Diageo plans to issue a number of briefs during the first year of the programme and will fund multiple pilots per brief. All funding decisions will be made by a steering group of senior leaders including Syl Saller, Chief Marketing Officer.

Applicants are invited to apply via the diageo.com website http://www.diageo.com/en-row/ourbusiness/diageo-technology-ventures/Pages/default.aspx. Decisions on who will be invited into the scheme will take place by December.

About Diageo

Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits, beer and wine categories.  These brands include Johnnie Walker, Crown Royal, JεB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in more than 180 countries around the world.  The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).  For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com.  Visit Diageo’s global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice.

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