General Conditions | Venture

General Conditions

1. The competition

1.1 >>venture>> is an annual startup competition run by the >>venture foundation>> c/o Knecht Holding AG, Schwimmbadstrasse 1, 5210 Windisch (CHE-132.172.568). The >>venture foundation>> is a not-for-profit organization and participation in the competition and its events is free of charge for all participants.

1.2 The >>venture>> startup competition starts on January 28, 2019, and ends with the Award Ceremony on July 1, 2019. The submission deadline is on April 11, 2019. The competition is divided into three industry verticals: Health & Nutrition, Hardware, and Software & Services. Participants must enter into one vertical of their choice and submit the online entry form together with a PDF document describing their business case of 10-20 pages. 

2. Entitlement to participate

2.1  Participation is open to individuals who are residents of Switzerland or the Principality of Liechtenstein and are at least 18 years of age. Participation is also open to teams where at least one member of the team is a resident of 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 case 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 case, a company has been registered in the commercial register of Switzerland or the Principality of Liechtenstein before January 1, 2017.

2.3 Participation is not open to teams if, on the basis of their submitted business case, a company has been founded, or is intended to be founded, outside Switzerland or the Principality of Liechtenstein.

2.4 Participants are allowed to re-enter the competition with the same business case in subsequent editions of the competition, unless they have been selected as a winner. Winners of the former business idea track (until >>venture>> 2018) are allowed to re-enter. 

2.5 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 completion of the online entry form and the submission of a business case by 23:59 CET on April 11, 2019. The business case is considered as submitted if it is uploaded to the >>venture>> awards platform in PDF format in English before the deadline specified above. 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 at the conclusion of the competition. Any intellectual property rights (including copyrights) in the business cases 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 case to >>venture>>, the participant agrees to be bound by these General Terms and Conditions.

3.5 >>venture>> may unilaterally amend these General Terms and Conditions. Participants will be noticed by e-mail.

4.Mentoring

4.1 Finalists (Top 10) of each industry vertical will have the opportunity to connect with one or multiple mentors and industry contacts.

4.2 The extent and duration of the mentoring shall be determined by the participant(s) and the mentors and industry contacts. Mentors and industry contacts work on a pro bono basis. >>venture>> instructs mentors and industry contacts to commit at least three hours to any finalist team for the duration of the competition upon request by the team. Mentors and industry contacts may decline requests by additional teams once they accepted requests by five or more teams. Mentors and industry contacts are asked by >>venture>> to answer to team requests for two years beyond the end of the competition edition the team participated in on an ad-hoc basis. Any subsequent supportive relationship that goes beyond the suggested time investment by >>venture>> shall be subject to an agreement between mentor 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 are the completion of the online entry form on the >>venture>> awards platform and the submission of a business case in the form of a 10–20 page PDF (including appendices).

5.3 Business cases 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 cases that are based on cases already entered in a previous >>venture>> competition by a different team may be excluded from consideration by the jury.

5.5 Each participant shall receive online access to the comments made by the jurors in jury rounds one and two before the end of the competition. 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.Prizes

6.1 The jury will select three winners per vertical. The first ranked team in each vertical will receive CHF 50’000, the second ranked team in each vertical CHF 20’000 and the third ranked team in each vertical CHF 10’000 in prize money.

6.2 The jury will also select one overall winner across the three verticals out of the first ranked teams in each vertical. This grand prize winner will receive an additional CHF 100’000 in prize money.

6.4 The prizes will be paid by bank transfer to the winners chosen by the jury within one month after the receipt of a valid bank relation by the >>venture>> office from the winner.

6.5 Participants in the competition are not entitled to compensation for expenses of any kind.

7. Communication

7.1 The >>venture>> competition will be followed by the media. Photos, videos, and contributions to events and the award ceremony will be published in the media and in >>venture>> channels, such as on the >>venture>> website, newsletter and social media. Participants agree to such publications.

7.2 The winners of the competition 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 as further described in our privacy policy accessible under: www.venture.ch/privacy-policy

8.2 All members of the >>venture>> office, mentors, industry contacts, jurors, experts at events, advisory board members, and other persons involved in the competition who have access to confidential participant or business case-related data, shall commit themselves toward the participants to the maintenance of confidentiality by means of a confidentiality declaration.

8.3 No participant, team or business case-related data shall be published or divulged without the agreement of the participants, with the exception of information intended for publication, which is the company name or provisional company name, the business case summary as entered in the online entry form (not the business case submitted as PDF document), and the industry vertical.

8.4 Team members of the winners (top 3) of each industry vertical selected by the >>venture>> jury grant >>venture>> the right to record a video about the team and its project and to publish it.

8.5 Participants grant >>venture>> the right to share their contact details (name, addresses, phone numbers, email addresses) with the organizing institutions (ETH Zurich, McKinsey & Company, Knecht Holding, Innosuisse, and EPFL) in addition to the information intended for publication on request by the organizing institutions.

8.6 Participants can opt to give access to their full data as entered in the online entry form and to their business case submission to selected research departments of the organizing institutions ETH Zurich (Department of Management, Technology and Economics) and EPFL (College of Management of Technology) for research purposes upon registration. If participants have checked the opt-in box on their registration profile at the time of the submission deadline, the >>venture>> office reserves the right to share their entire profile data with the above research departments on request by the departments and without any further notice to the participants. The research departments commit themselves to keeping all data received confidential. Any resulting scientific publications shall only contain aggregated and anonymised data. While >>venture>> encourages participants to make their data accessible to ETH Zurich and EPFL for research purposes, participants’ decisions on sharing their data have no effect on their participation in the competition.

8.7 >>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 Code of Obligations.

9. Online registration with >>venture>>

9.1 Users of the >>venture>> online tools (in the following: user(s)) agree that their personal data will be stored in electronic form and, depending on the online tool, with a third party. The respective terms and conditions as well as privacy policies of such third party also apply. Registration, submission and the jury process are handled on Award Force, Award Force Pty Ltd., PO Box Q1118, QVB NSW 1230, Australia. Event registration and event management are handled on EventsCase, Pick Event Ltd., Company number 08219885, 67 Winter Road, Southsea, PO4 9BU, Portsmouth, United Kingdom.

9.2 Users are responsible for the content of their online profiles and for the information they provide, and they declare the particulars they supply are true and correct. 

9.3 Users are obligated to keep the password of their online profiles confidential. Users are not allowed to transfer or make their online profile available for use to third parties. 

9.4 Each user may only generate one online entry on the >>venture>> awards platform per business case and one online entry on the >>venture>> event management platform per participant and event.

9.5 Users are obligated not to misuse the >>venture>> online tools, 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 tools 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 tools without offering reasons, to change the entire platforms or parts thereof, or to cease their operation.

9.7 >>venture>> is not liable for the possible misuse of user data by third parties.