Participants Obligations (Entrepreneurs/Startups Track):
For best experience from this Program, the participants must agree to the following:
During the Capacity Building Program (“Program”)
a) To participate (with at least two (02) and up to three (03) most relevant team members per session) in the thrice a week virtual capacity building sessions starting from April 2022 until May 2022 The details of the capacity building are provided during the program. This is intended to provide all startup founders with a level playing field and ensure that necessary elements may be covered in their pitch before the final jury.
b) To actively participate and contribute to the sessions so as to maximize learning. Regular and collaborative participation ensures a supportive environment for all teams to work together and alongside each other.
c) Teams are required to have at least 75% attendance during these sessions and to submit assigned tasks and projects for completion. Regular absenteeism may render the team’s participation in the Program unproductive.
d) Tasks and projects are designed to encourage teams to apply the lessons learnt from the capacity building sessions to their own startups. The founders must come prepared in the sessions to present, work, and receive mentoring and advice on next steps.
e) Teams unable to carry out the necessary work in the intervening period, follow Program directions, or complete the curriculum may lag behind their counterparts and compromise the learning experience. The Program team shall provide warning and advice to such teams, however sustained inability of the teams to catch up and do the necessary work could lead to expulsion from the Program.
f) To benefit from the one-on-meeting with the mentor-in-chief for guidance and mentoring and address any major alignment issues identified by the mentor-in-chief.
Initial Pitch to Select Finalists
g) The Participants will successfully complete the capacity-building Program and make an initial pitch (comprising a work-in-progress or intermediate design) before a jury. This pitch will be used to select ‘Finalists’ of the KE 7/11+ Innovation Challenge.
Additional Capacity Building, Individualized Mentoring regarding KE Domain
h) The finalists of KE 7/11+ Innovation Challenge will sign a bi-directional non-disclosure agreement (“NDA”) with KE to protect prior IP as well as proprietary knowledge of each entity.
i) Each finalist will be paired with two mentors – a technical mentor from KE staff and a business mentor from Innoventures to help them better understand KE’s challenges, provide access to design parameters, existing data, and necessary requirements for subsequent onboarding as well as generalized mentoring on good entrepreneurial practices and lean approaches.
j) The finalists shall connect with their mentors at least twice a month (ideally once every fifteen (15) days) and make a good faith effort to apply their advice in the further development of their designs/prototypes/ventures.
Final Pitch to Select Winners
k) The Finalists shall use the capacity-building phase as an opportunity to develop a final pitch / detailed design ready for a detailed pitch before a final jury. The final pitch will also identify a potential pathway for onboarding as well as key milestones (including work still to be done) in the process.
l) The final jury shall use the final pitch, detailed design, as well as other Program feedback (including mentors’ feedback) in making their decisions.
m) The decision of the jury shall be full and final and cannot be challenged.
Post-Award and On-boarding
n) Winners will make a good faith effort to use the prize money on further development of their venture and make it ready for use / on-boarding by KE and/or in the case of a new invention / research towards the development of a detailed design / working prototype.
o) Both Finalists and winners of the KE 7/11+ Innovation Challenge shall make a good faith effort to engage with IGPL and KE officials to explore opportunities of further development, refinement, and onboarding of their ideas/design/prototypes/ventures
Additional Terms for Researchers and University Students
p) Researchers and University Students involved in the inventive/scientific process, and particularly addressing the KE-specific problems, may be exempted from mandatory capacity building Program but not from additional capacity building and individualized mentoring.
General Terms and Conditions
The participants are required:
q) To participate in any other meetings or sessions recommended by Innoventures (or its nominated agent), mentor, or sponsor to address any challenges, technical or business, in the development of the idea.
r) To provide timely feedback to Program staff on a fortnightly basis in the required formats, on the progress of the Program and interaction with KE, if required.
s) To participate in KE and Innoventures activities, meetings, innovation showcases, conferences, or events, etc., where possible and provide necessary information to Innoventures team to fully document team’s progress during and after the Program.
t) To set up accounting, administrative, oversight, and audit processes (including necessary registrations, bank accounts, and financial controls etc.) required to take the award money and to provide proper and regular accounting and milestones information required for proper financial disbursements and closing.
u) KE reserves the right to accept or reject any or all the nominations/applications for KE 7/11+ Innovation Challenge and/or annul the entire process without assigning any reason whatsoever. KE shall not be liable for any expenses and/or costs incurred by the interested parties/organizations as a result thereof. In no circumstances will KE be liable for any cost, expense, loss, claim or damage arising out or in connection with an applicant/organization’s participation in KE 7/11+ Innovation Challenge, or any subsequent process/documentation in relation thereto. KE shall not be liable for any costs incurred by any applicant/organization in the preparation and submission of the application for KE 7/11+ Innovation Challenge. The submission of an application does not give rise to any commitment or legal relationship between KE and any applicant/organization.
v) KE reserves the right to use the photographs of the participants during and/or after the completion of KE 7/11+ Innovation Challenge for the purposes of marketing on traditional and digital media platforms.
w) The Participant also hereby grants branding rights to KE. KE shall have explicit rights to use the name and images of the organization in its public relations and advertising campaigns.
x) The Participants shall during and/or after the completion of the term of this Contract, if needed by KE, submit evidence including but not limited to photos, videos, and content showing how the award amount has been utilized and its benefits.
y) The Participant hereby agrees to be an award ambassador of KE and showcase in its marketing, subject to prior written approval of KE with respect to the marketing content, how the award has facilitated the organization in meeting its vision. Written approval from KE shall be required before any mention of KE in print and/or social media.
z) Both Parties shall keep any and all information confidential at all times and will not disclose any information without prior written consent of the other Party.
aa) The organization shall not use KE’s logos, name and/or any similar material and/or any intellectual property for any purposes including branding or advertising or joint advertising without the specific written consent of the KE. KE shall have the right to use, at its sole discretion, information pertaining to the grant of award to the organization, as and when required at any medium and with any audience. The organization assigned point of contact shall be responsible for facilitating the KE team for the afore-mentioned as and when required.