General conditions for participation
»venture» is a joint initiative of the ETH Zurich, McKinsey & Company, Knecht Holding, CTI, and EPF Lausanne, and is supported by an Advisory Board, comprising representatives of the Swiss business community.
The conditions set forth are valid for the current edition only.
1. The competition
1.1 The competition consists of the business idea competition and the business plan competition, which run in parallel. Both competitions start on February 13, 2017, and end with the award ceremony on June 19, 2017.
1.2 For each edition of »venture», teams or individuals can enter the business idea competition or the business plan competition, but not both.
2. Entitlement to participate
2.1 Participation is open to individuals who are resident in Switzerland or the Principality of Liechtenstein and are at least 18 years of age, and to teams, as long as at least one member of the team is resident in Switzerland or the Principality of Liechtenstein and is at least 18 years of age.
Participation is also open to individuals and teams that enter their business idea via Swissnex (Boston/New York, San Francisco, Rio de Janeiro/Sao Paulo, Shanghai and Bangalore), provided that such teams include at least one Swiss national resident abroad.
2.2 Participation is not open to individuals or teams if, on the basis of their business idea or their business plan, a company has been registered in the commercial register of Switzerland or the Principality of Liechtenstein before October 1, 2015.
2.3 Participation is not open to teams if, on the basis of their business idea or business plan, a company has been founded, or is intended to be founded, outside Switzerland or the Principality of Liechtenstein.
2.4 The »venture» Office reserves the right to refuse participation to anyone for any reason deemed applicable by the »venture» Office.
3. Conditions and forms of participation
3.1 The condition for participation in the competition is the submission of the business idea or business plan by 23:59 on April 12, 2017. The business idea or business plan is considered as submitted if it is sent to »venture» in PDF format in English via the »venture» Online Platform. No other form of submission will be accepted.
3.2 »venture» , at its own discretion, may extend the deadline for submissions in exceptional cases.
3.3 Documentation, patterns and models submitted for the competition shall become the property of »venture». There is no entitlement to the return of such items on the conclusion of the competition. [Any intellectual property rights (including copyrights) in the business ideas and the business plans shall remain with the participants, but »venture» shall be entitled to use such intellectual property rights for the purpose of the competition].
3.4 By submitting a business idea or a business plan to »venture», the participant agrees to be bound by these General Terms and Conditions.
4.1 Participants in both parts of the competition may ask »venture» for support from a coach. While »venture» will make every effort to provide a coach, participants have no entitlement to coaching support.
4.2 Conditions for the provision of a coach are the registration of the team via the »venture» Online Platform and the online submission of a coaching request.
4.3 The extent and duration of coaching shall be determined by the participant(s) and the coach. Coaching is free of charge for the duration of the competition until the award ceremony. Any subsequent coaching relationship shall be the subject to an agreement between coach and team.
5. The jury decision
5.1 The jury shall deliberate in private.
5.2 Entries that do not meet the formal requirements of the competition may be excluded from consideration by the jury.
The formal requirements for consideration by the jury in the business idea competition are the registration of the team via the »venture» Online Platform, together with the submission of an online summary of the business idea and the business idea itself, in the form of a 2–6 A4-page PDF.
The formal requirements for consideration by the jury in the business plan competition are the submission of the online summary together with the complete business plan in PDF format.
5.3 Business ideas and business plans based on ideas that have already been implemented in identical or similar fashion, or that do not differ from an already implemented idea in any significant, business-related aspect, may be excluded from consideration by the jury.
5.4 Business ideas and business plans that are based on ideas already entered in a previous »venture» competition may be excluded from consideration by the jury.
5.5 After the award ceremonies for both phases of the competition, each participant shall receive online access to the comments made by the jurors. Jurors shall remain anonymous unless they explicitly agree to the publication of their name.
5.6 The jury's decision is final. No correspondence shall be entered into, and there shall be no recourse to legal action against the decision by the jury.
6.1 The best proposals in the business idea competition will be awarded startup consulting powered by McKinsey & Company, and a total prize money of CHF 40'000, of which CHF 15'000 will be awarded to the best business idea, then CHF 10'000, 7'500, 5'000 and 2'500.
6.2 The winners of the business plan competition will be awarded a total prize money of CHF 120'000, of which CHF 60'000 will be awarded to the best business plan, then CHF 30'000, 15'000, 10'000 and 5'000.
6.3 The prizes will be paid by bank transfer to the winners chosen by the jury.
6.4 Participants in the competition are not entitled to compensation for expenses of any kind.
7.1 The »venture» competition will be closely followed by the media. Photos, videos, and contributions to events and the prize giving will be published in the media and on the »venture» website, and participants agree that such publication of photos and videos is being made by »venture» competition.
7.2 Accordingly, the winners of the business idea and the business plan competitions promise to mention their successful participation in »venture» in their own communications in the future.
8. Data protection and liability disclaimer
8.1 Participants grant >>venture>> the right to process their data submitted.
8.2 All business ideas and business plans submitted shall be treated by »venture» as confidential. With the exception of information intended for publication (project name, summary, industry), no data shall be published or divulged without the agreement of the participant(s).
8.3 All coaches, jurors and other persons involved in the competition who have access to competition documents shall commit themselves to the maintenance of secrecy by signing a confidentiality declaration.
8.4 Participants grant organizing institutions access to their data (e.g. profile, characteristics of the project) in an aggregated and anonymous format only. This excludes business plan/idea relevant content.
8.5 »venture», its organizers and the members of the Advisory Board disclaim any liability for any form of loss or damage, in particular, caused by employees or assistants, in accordance with the provisions of Articles 100 and 101 of the Swiss Civil Code.
9. Use of the >>venture>> online platform
9.1 Users of the >>venture>> online platform (in the following: user(s)) agree their personal data will be stored in electronic form. Their data will not be sent to third parties.
9.2 Users are responsible for the content of their online profile and for the information they provide and declare the particulars they supply are true and correct.
9.3 Users are obligated to keep the password to their online profile confidential. Users are not allowed to transfer to or make their online profile available for use to third parties.
9.4 Each user may only generate one online profile.
9.5 Users are obligated not to misuse the >>venture>> online platform, in particular not to
- Distribute defamatory, offensive or in any other way unlawful material or any similar material. In particular, this refers to pornographic, racist, inciting or comparable contents.
- Bring onto the >>venture>> online platform computer viruses (infected software) or software or other material that could in any way damage hardware or software of >>venture>>, other users of the platform or third parties.
- Publish data that is copyright protected, unless the user is in possession of the usage rights.
9.6 >>venture>> reserves the right to expunge contents of the >>venture>> online platform without offering reasons, to change the entire platform or parts thereof, or to cease its operation.
9.7 >>venture>> is not liable for the possible misuse of user data by third parties.