Terms and Conditions | vcapprentice

Terms and Conditions

Tyro.VC (The “Competition”) Terms and Conditions

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY.

By participating in the Competition through submitting a Competition entry form, the Participant/Team shall be deemed to have accepted and agreed to be bound by all the terms and conditions set out herein.

1. The Competition is organised by INFOCOMM INVESTMENTS PTE LTD (“the Organiser).

2. To enter the Competition, each Participant shall submit their entry (“Competition entry”) online via http://Tyro.VC (the "Website").

Competition Period

3. Competition entry submission ends on 14th November 2014. The Organiser reserves the right to extend the deadline for entry submission if required.

4. The Competition ends on 23rd January 2015. The Organiser may at its discretion extend the duration of the Competition, which shall not be extended beyond 28th February 2015.

Eligibility

5a. The Competition is open to Singaporeans and Permanent Residents. Participants must be at least 18 years old or above at the time of registration; and

5b. Participants must have at least a diploma, or are currently studying for a diploma; or are currently undergraduates; and

5c. Participants must be proficient in written and spoken English.

Entry Submission

6a. All Competition entries submitted must be in compliance with the Conditions of Application at http://Tyro.VC

6b. The Organiser is not responsible for Competition entry forms which are lost, misdirected, fail to enter into the processing system, or are processed, reported, or transmitted late or incorrectly or are lost for any reason including any electronic, computer or communication malfunction or error, or the inability to access the Website or any website associated with this Competition.

6c. All Participants are required to fill in their personal particulars accurately in the Competition entry form. Competition entry forms with incomplete or invalid details will be disqualified immediately.

6d. Submitted Competition entries with content deemed as irrelevant or offensive by the Organiser will be disqualified at the Organiser’s sole discretion. Further, the Organiser reserves the right to disqualify submitted Competition entries which (a) are considered to be spam; (b) contain vulgar language or violence; (c) contain pornography, obscenity; and/or (d) are, in the Organiser’s view, of inappropriate nature to be published on the internet.

Judging Criteria and Format

7a. All eligible Participants will be shortlisted to undergo an interview on 29th November 2014. Shortlisted Participants shall make themselves available and render all reasonable assistance to the Organiser:

to participate in the recording of the competition at the times and locations required by the Organiser, including without limitation, staying and/or residing at such locations, premises and/or places for such duration of time as may be required by the Organiser and the Participants shall abide by the rules, regulations, fire and safety regulations and security arrangements, these Terms and Conditions, and the competition rules as may be imposed or devised.

to attend any training and recording sessions or other events, activities, and time schedules related to the competition; Participants failing to do so may be disqualified at the Organiser’s sole discretion.

7b. Shortlisted Participants shall be required to source for start-ups based on the following criteria:

Less than 2 years old;
Received not more than S$500,000 external investments. For avoidance of doubts, this is excluding the founders’ capital;
Annual sales not more than S$2,000,000;
must have Infocomm Technology (ICT) as key differentiator; and
must be a Singapore registered company with its core functions and operations, including core management team, engineering and product development, sales and marketing, business development, regional or global management located in Singapore, and that Singapore shall be the centre of the start-up’s growth plans.

7c. All eligible start-ups sourced by the Participants will be shortlisted to enter the competition at the discretion of the Organiser and third parties it nominates, including but not limited to venture capitalists, mentors and judges. No enquiries, appeals, verbal or written, shall be entertained. Each Participant and the eventual sourced start-up shall, for the purposes of this Competition, be defined as a ‘Team’.

7d. All eligible Teams will be shortlisted and judged at a live judging event held by the Organiser based on the following criteria:

7e. Each Team agrees to present in person to the panel of judges at a live judging event held by the Organiser. If, any shortlisted Participant and start-up is absent from the live judging event, that Participant and start-up will be deemed to have withdrawn from the Competition.

Prizes

8a.The Team with the eventual best pitch (“The Winning Team”) will be awarded:

For the Participant: S$5,000 cash prize and a one year contract from the Organiser at the Organiser’s sole discretion.

For the start-up: Up to S$1,000,000 co-investment from the Organiser at its next stage of financing, on terms that are mutually agreeable, subject to satisfactory legal and financial due diligence, and with an amount that is appropriate in relation to the total funding sought as well as to other investors (including the lead investor) of the round. Any such investment shall take place within twelve (12) months from 23^rd January 2015, or from such date for the end of the Competition as the Organiser may so decide, failing which the co-investment offer in the winning start-up shall lapse.

For the avoidance of doubt, the co-investment shall be capped at S$1,000,000 regardless of the number of individuals in the winning Start-up’s Team. A prize will not be given to each individual in the Team.

8b. The Participants in the remaining Teams (not “The Winning Team”) will be awarded:

S$500 cash prize and a letter of recognition from the Organiser at the Organiser’s sole discretion.

8c. Teams will be required to present proof of their identity when they collect their prize.

8d. Prizes are non-transferable, non-negotiable and non-exchangeable.

8e. The Organiser reserves the right to cancel, change, replace or remove the prizes at any time with or without notice to the Teams.

Intellectual Property Rights

9a. Each Team acknowledges that it is the sole author and owner of all rights, title and interest subsisting in its submitted Competition entries (including intellectual property rights) for the entries submitted.

9b. Each Team warrants that its submitted Competition entry is its original work and idea.

9c. Each Team acknowledges and consents that the concepts, ideas, and insights contained in their Competition entry may be used by any third party (including but not limited to other Participants) for any purpose whatsoever without any compensation to the Participants.

9d. Organiser will claim no ownerships rights to submission. Each Team grants the Organiser an irrevocable, perpetual, paid-up, royalty-free, nonexclusive worldwide license to reproduce, distribute, display, perform, broadcast, transmit, make available, modify, abridge, extract, summarize the Competition entry, and communicate the entry for publicity purpose.

9e. Each Team acknowledges and agrees that all intellectual property rights in the recordings of all media of the competition and its activities shall be owned solely by the Organiser in perpetuity.

9f. Competition entries that do not fulfil the above criteria will be deemed ineligible and will be disqualified.

Publicity

10a. Each Team consents to participate in the publicity activities of the Organiser in relation to the Competition or for future publicity without any payment or compensation therefor.

10b. Each Team consents to the public disclosure of his/her name, photograph, and other details as submitted in the Competition entry form, as the case may be, for administering the Competition and for publicity purposes. Each Team consents to the use of any data or Personal Data (as defined in the Personal Data Protection Act 2012) provided by such Team for any future publicity effort by the Organiser or by any third party acting on behalf of the Organiser, without any payment or compensation therefor. Such use includes, but is not limited to the following purposes:

operating, administering, promoting and broadcasting the Competition;

displaying the Team’s Competition entry on any media or community space;

issuing of any media release or media pitches with the Competition entries;

contacting any or all Teams to participate in the Organiser programmes and events;

conducting market research and statistical analysis

10c.The Teams shall not make any personal appearance nor give any interview nor allow publication, in any media (be it online, print, visual and/or audio), any information whatsoever concerning the Competition or the Organiser, its third parties including venture capitalists, mentors and judges, its group of companies, or government agencies and entities, without prior written consent and approval of the Organiser.

Liability and Indemnity

11a. The Organiser will exercise reasonable care in handling the entries submitted. However, they will not be liable for any loss of entries or any unauthorised use of the photographs displayed on the Website.

11b. Each Team accepts all risks of personal injury or property damage of any nature whatsoever that may arise from his/her making or creation of the entry or participation in this competition and will not in any way hold the Organiser responsible for any liability, loss, damage, expense and cost which he/she may sustain or incur as a result of his/her participation, except for liability which cannot be excluded by law.

11c. Each Team (including any heirs, parents, legal guardians, executor and/or administrators where applicable) hereby agrees to be fully liable to the Organiser and their officers, employees and agents for any violation of confidentiality, patent, copyright or any other intellectual property rights in the photographs and materials submitted and shall defend, indemnify and hold the Organiser and each of their officers, employees and agents thereof harmless from and against any actions, claims, loss or damages for infringement or alleged infringement of such confidentiality, patent, copyright or any other intellectual property rights.

11d. Each Team shall jointly and severally keep the Organiser fully indemnified against all losses, actions, liabilities, claims, proceedings, costs and damages arising out of any breach of the above warranties.

11e. Each Team agrees to jointly and severally keep the Organiser and its respective directors, officers, employees and agents indemnified against any and all such claims by third parties for any losses or damages arising from the Participant’s submission of the Competition entry form, the Team’s participation in the Competition, and the Organiser’s evaluation of the Competition entry.

11f. Problems affecting the Competition: If for any reason any aspect of the Competition is not capable of running as planned, including by reason of infection by computer virus, network failure, bugs, tampering, unauthorized intervention, fraud, technical failures or any cause beyond the control of the Organiser or unforeseeable which corrupts or affects the administration, security, fairness, integrity or proper conduct of the Competition, the Organiser may in its sole discretion cancel, terminate, modify or suspend this Competition, or invalidate any affected submissions, and shall not be liable for any claim, action, damage, or loss as a result of such cancellation, termination, modification, suspension or invalidation.

11g. The Organiser shall not be responsible for any loss, damage, cost or expense howsoever arising incurred by any Team in connection with this Competition, including the collection and subsequent use of the awarded prize, and any unreadable, incomplete, mutilated, tampered or irregular entry, any breakdown or malfunction in any computer system or equipment and any notice which is misdirected or lost.

General

12a. The decision of the Organiser on all matters relating to the Competition, including the eligibility of any Team and the selection of the winners, is final and no correspondence will be entertained.

12b. The Organiser reserve the right to amend these Terms and Conditions at any time at its absolute discretion without any further notice, including but not limited to the eligibility terms and criteria, the selection of winners, the timing of any act to be done and all Teams to this Competition shall be bound by these amendments.

12c. A person who is not a party to these Terms and Conditions shall have no right under the Contracts (Rights of Third Parties) Act to enforce any of these Terms and Conditions.

12d. In the event of any inconsistency between these Terms and Conditions and any brochures, marketing or promotional materials relating to the Competition, these Terms and Conditions, and all its subsequent variations, shall prevail.

12e. These Terms and Conditions and all its subsequent variations shall be subject to, and governed by and construed in accordance with the laws of Singapore, and all Teams hereby submit to the exclusive jurisdiction of the Singapore courts in the determination of any dispute arising in connection with the Competition.