RULES, TERMS and CONDITIONS – LA Innovative Startup Competition
Entry forms must be submitted on the Voivoda Labs site no later than midnight, February 19th, 2012.
By submitting an Application to the LA INNOVATIVE STARTUP COMPETITION (This competition will hereafter be known as “The Competition”), each applicant agrees to the following rules, terms and conditions:
1. Entry Form. The Competition entrants must complete an on-line entry form, available at Voivoda Labs site, when pressing apply button to enter the Competition.
2. Age. All Competition applicants, whether individuals or members of a team, must be 18 years of age or older. ID may be required.
3. Location. Participants from all states are welcomed.
4. Residency. Individual applicants and at least one team member must be legal residents or U.S. citizens.
5. Start Ups Only. All businesses must have business concepts, product or service that require start-up capital. The ideas, concepts, product, service is the original work of the applicant(s), and the applicant is not under any agreement or restrictions prohibiting his or her ability to disclose ideas or plans to the Competition. After filling out the application and providing all supporting materials, applicants will be reviewed by Voivoda Labs team. The advancing participants will be notified by email and they are eligible for competing for the winner’s prize.
6. For–Profit Businesses Only. The Competition is competition for for-profit businesses. Non-profits are not eligible to to enter.
7. Individual and Team Entry. An individual may enter alone, or more than one person may submit an entry form as part of a team. The team's entry form must list all individuals on the team. The Competition applicants may enter only once, either as an individual or as part of a team. The team must appoint one individual as the team leader and main contact ,and one other as the secondary contact. All team members must agree to the terms and conditions of the competition. Students are eligible.
9. Deadline. All supporting documents, PowerPoint’s, business plans must be uploaded to the LA Innovative Startup competition site no later than midnight on February 19th, 2012.
10. Applicants must read and become familiar with the format of the competition listed on www.voivoda.com/startupcompetition.html.
11. Ineligibility. IEmployees or their family members from Voivoda Labs team are not eligible to enter the Competition either individually or as any part of a team.
13. Disbursement of Prize. The winner of the Competition will be granted one month of office space in the Voivoda Labs building, starting on March 1st, 2012. The winner will be chosen by the consensus of the judges. During this time, the company will be coached on how to best proceed. At the conclusion of the month, a review will be performed on the company based on a technical due diligence, evaluation of the founder team, and an evaluation of the market validation of the company's product. If the company meets the criteria, Voivoda Labs will make a capital investment between $10,000 and $100,000 and lead a funding round through the 5 angel groups Voivoda Labs interacts with.
14. Waivers and Releases. If chosen as a winner, applicant(s) grant the LA Innovative Startup Competition the right, without compensation, to publish finalist names and company names, non-financial information, photographs, and video and audio recordings, for editorial, public relations, promotional, and advertising materials. All decisions made by the judges on all matters relating to the LA Innovative Startup Competition will be final. The Competition reserves the unrestricted right to interpret these rules, and to alter, amend or change them, at its discretion.
15. Confidentiality. By the submission of your company materials you understand and agree that a short description of your supporting documents will be considered a “public summary” and may be used in public documentation related to the competition. Voivoda Labs will provide a copy of your supporting documentation to competition staff and judges, and will inform them that no additional copies are to be made. The materials will not be shared with the public and shall be destroyed at the conclusion of the competition.
16. Disqualification. Violation of any one or multiple rules for eligibility will result in disqualification from LA Innovative Startup Competition at any point.
Note: Each applicant has reviewed the Competition Rules, Terms and Conditions. By checking the box on the application the individual or the team agrees to comply with the Rules, Terms and Conditions and to abide by them. Failure to comply with the Rules, Terms and Conditions will result in entry disqualification and/or forfeiture of prizes.
