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Venture 2010 (Venture) is a joint initiative of the ETH Zurich, McKinsey & Company, Inc. Switzerland and KTI, and is supported by an Advisory Board, consisting of representatives of the Swiss business community. 1. The competition 1.1 The competition has two phases. In the first phase, from 1 October 2009 to 14 January 2010, the business ideas submitted are evaluated and awards made. In the second phase, up to 20 May 2010 the full business plans are evaluated and awards made. 1.2 The competition may be entered in either the first or the second phase. 2. Entitlement to participate 2.1 Participation is open to individuals who are domiciled in Switzerland or the Principality of Liechtenstein and are at least 18 years of age, and also to teams, so long as at least one member of the team is domiciled 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 a Swiss House (San Francisco, Boston or Singapore), provided that such teams contain at least one Swiss national resident abroad. 2.2 Participation is not open to teams if, on the basis of their business idea or business plan, a company has been registered in the commercial register of Switzerland or the Principality of Liechtenstein before June 1, 2008. 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 first phase of the competition is the submission of the business idea by 23.59 on 3 December 2009. The business idea is considered as submitted if it is sent to Venture in PDF format via the Venture Online Tool (VOL). No other form of submission will be accepted. 3.2 The condition for participation in the second phase of the competition is the submission of the business plan by 23.59 on 31 March 2010. The business plan is considered as submitted if it is sent to Venture in PDF format via the Venture Online Tool (VOL). No other form of submission will be accepted. 3.3 Venture may extend the deadline for submissions in exceptional cases, for good reason. 3.4 Documentation, patterns and models submitted for the competition shall become the property of Venture, and will be destroyed at the conclusion of the competition, with the exception of one business plan for the archives. There is no entitlement to the return of such items on conclusion of the competition. 4. Coaching 4.1 Participants in both phases of the competition may ask Venture 2010 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 2010 online tool 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 20 May 2010. Any subsequent coaching relationship shall be the subject of an agreement between coach and team. 5. The jury 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 first phase are the registration of the team via the Venture 2010 online tool, 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 second phase are the submission of the online summary together with ten hard copies of the complete business plan. 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. 6. Prizes 6.1 The total prize money for the competition shall be at least CHF 150,000. 6.2 The prizes will be paid either by presentation of a bank draft at the appropriate award ceremony, or by bank transfer, to the winners chosen by the jury. 6.3 Participants in the competition are not entitled to compensation for expenses of any kind. 7. Data protection and liability disclaimer 7.1 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). 7.2 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. 7.3 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. 8. Legal recourse 8.1 There shall be no recourse to legal action. |
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