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2024 In:Vention incubator official contest rules

NO PURCHASE NECESSARY:

No purchase is necessary to enter the 2024 In:Vention Incubator Contest (“Contest”) or win a prize.

APPLICABLE LAW (VOID WHERE PROHIBITED):

The Contest is subject to and governed by applicable federal, state, and local laws and regulations. Participation in the Contest is void where prohibited or otherwise restricted by law.

 

1. SPONSOR.

The sponsor of the Contest is Vention Solutions Inc., a New Jersey corporation, located at 697 Mill Creek Road, Suite 13, Manahawkin, NJ 08050, USA (“Sponsor”).

 

2. AGREEMENT TO OFFICIAL RULES.

Entry in the Contest constitutes Participant’s full and unconditional agreement to and acceptance of these 2024 In:Vention Incubator Official Contest Rules (“Official Rules”) and the decisions of the Sponsor, which are final and binding. If you agree to be bound by these Official Rules on behalf of your employer or other entity, you represent and warrant that you have full legal authority to bind your employer or such entity to these Official Rules.

Winning a Prize is contingent upon being compliant with these Official Rules and fulfilling all other requirements set forth herein and/or required by applicable law.

 

3. ELIGIBILITY.

Eligibility criteria: To be found eligible for the Contest, a participant (each, a “Participant”, collectively, the “Participants”) must:

(i) Be a legal entity incorporated in any state of the United States of America, including the District of Columbia.

(ii) Be in operation for no more than ten (10) years.

(iii) Operate within the following industries / sectors:

 

  • Agriculture
  • Ecommerce
  • Education
  • Financial and professional services
  • Food and drink
  • Gaming
  • Health services
  • Manufacturing
  • Marketing and AdTech
  • Real Estate
  • Telecommunications

(iv) Legally operate without restrictions or prohibitions, including any restrictions related to business operations, trade, or industry-specific regulations.

(v) Maintain all licenses and permits required by applicable laws and regulations to operate in the relevant industry / sector.

 

Exclusions: The following entities are not eligible to participate in the Contest:

 

(i) Current and former clients of the Sponsor.

(ii) Legal entities that are owned or controlled, directly or indirectly, by employees, contractors, officers, and directors of the Sponsor or its affiliates, or by members of their immediate families (e.g., spouses, children, siblings, or parents), or by persons living in the same household as such persons.

(iii) Legal entities subject to any economic, trade, or financial sanctions, or with whom the Sponsor is prohibited from doing business under any applicable export control laws and regulations.

The Sponsor cannot accurately predict the number of Participants who will participate in the Contest.

 

4. ENTRY PERIOD.

The Contest begins on May 16, 2024, at 12:00 am ET and ends on June 28, 2024, at 5:00 pm ET (the “Contest Period”). Entries that are submitted before or after the Contest Period will be disqualified.

 

5. HOW TO ENTER.

Each Participant must fill out and submit the entry form. Participants must accurately complete all required fields and confirm their agreement with these Official Rules and the Sponsor’s Privacy Policy. Otherwise, the entry will be deemed incomplete and will not qualify.

Entries must not infringe on any third party’s intellectual property or other proprietary rights and must not contain any offensive, harmful, or inappropriate content.

Each Participant may submit only one (1) entry for the Contest. Additional entries from the same Participant will be disqualified.

 

6. PRIZE.

The following prize (“Prize”) will be awarded to the Winner:

 

  • Custom software development services performed by the Sponsor and/or its affiliates. The duration of the services is three (3) months. The Sponsor will select and assign a team of up to three (3) software engineers to perform the services. The exact scope and objectives of the services will be mutually defined by the Winner and the Sponsor based on the details of the Winner’s entry in accordance with Section 9 of these Official Rules.

The approximate market value (“AMV”) of the Prize is $150,000.00. The Prize is not exchangeable, transferable, substitutable, or redeemable for cash. Any difference between the stated AMV and the actual value of the Prize will not be awarded.

 

Only one (1) Prize is available. The Prize will only be awarded if properly claimed according to these Official Rules.

 

The Winner is not required or expected to pay any money or other costs or expenses in order to receive the Prize.

The Prize restrictions/conditions stated herein are not all-inclusive, and the Prize described above may be subject to additional restrictions/conditions, which may be stated in the Documentation (as defined in Section 9 of these Official Rules).

 

7. TAXES.

The Winner is solely responsible for reporting and paying any and all applicable federal, state, and local taxes related to acceptance and use of the Prize. The Winner must provide a properly executed Form W-9 before the Prize is awarded as set forth in Section 9 of these Official Rules.

 

8. WINNER SELECTION.

The winner of the Prize (“Winner”) will be selected by the Sponsor by July 11, 2024.

One (1) Winner will be selected from among all eligible entries received based on the following judging criteria:

 

  • Readiness (20%): The Participant’s product or technology is beyond the ideation stage and is either fully developed or at the prototype stage.
  • Innovation (20%): The Participant’s product or technology is novel and does not merely replicate existing product(s) on the market.
  • Market Potential (20%): The Participant’s product or technology addresses an existing market need.
  • Feasibility and Scalability (20%): The Participant’s business model is practical and able to be expanded successfully.
  • Quality and clarity of the presentation (20%): The Participant’s entry effectively communicates its vision, plan, and value proposition.

The Sponsor will select the team of judges consisting of the CEO, CMO, Engineering Delivery Director, Business Development leadership, and Group Manager of the Marketing Unit who will evaluate the entries and select the Winner. Each judge will independently evaluate each eligible entry, rating each one based on the judging criteria described above. The top entries are then included on the shortlist and further evaluated.

In the event of a tie between any eligible entries, an additional judge will break the tie based on the judging criteria described above. The decisions of the judges are final and binding.

 

9. WINNER NOTIFICATION. DATES AND DEADLINES.

(i) Initial contact. The Winner will be notified via the contact information provided in the entry form by July 15, 2024. As part of such notification, the representative of the Sponsor will schedule a call with the Winner to instruct the Winner on the next steps.

(ii) Confirmation. The Winner must confirm its acceptance of the Prize no later than July 22, 2024.

(iii) Identification of scope. The Winner and the Sponsor must determine the specific scope and timelines of the Sponsor’s services awarded to the Winner as the Prize no later than July 31, 2024.

(iv) Legal documentation. The Winner will be required to (i) execute a services agreement describing the scope of the services to be performed by the Sponsor, as well as any other terms and conditions of such services; (ii) complete and return a form W-9; and (iii) complete and return such additional documents and forms as the Sponsor may reasonably request in order to effectuate the purposes and intents of these Official Rules or comply with the applicable laws and regulations (collectively, “Documentation”). The Winner agrees to sign and return the Documentation to the Sponsor no later than July 31, 2024.

(v) Project launch. The Sponsor will commence the performance of the services on a date mutually agreed by the Sponsor and the Winner, but no earlier than August 1, 2024.

 

If the Winner cannot be contacted, is ineligible, fails to claim the Prize, and/or fails to return any Documentation within the applicable timeframes set forth herein, the Sponsor may elect to disqualify such Winner, who will forfeit its right to receive the Prize. In such event, the Sponsor may select an alternate Winner from among all remaining eligible entries.

 

10. LIST OF WINNERS.

The name of the Winner of the Contest will be posted on the Sponsor’s website(s), social media pages, and other publicity once the Winner has been selected and the Prize has been awarded.

 

11. PUBLICITY.

By accepting the Prize, the Winner agrees that, without any further payment or consideration to the Winner, the Sponsor: (i) may identify, mention, tag, or incorporate the Winner on the Sponsor’s website(s), social media pages, in sales presentations, written and/or electronic marketing materials, press releases and any other media relating to the Contest or the Sponsor’s services (collectively, “Marketing materials”); (ii) has a non-exclusive, worldwide, limited license to use the Winner’s logo, name, and trademark in the Marketing materials; and (iii) may issue a public case study referring to the Winner and containing a brief summary of the scope of the Winner’s project and a description of how the Sponsor’s services contributed to the success of the Winner’s product and/or service.

 

12. USE OF PERSONAL DATA. CONFIDENTIALITY.

Personal data submitted with an entry is subject to the Privacy Policy at https://ventionteams.com/privacy-policy.

Any other information submitted by a Participant with an entry (“Submission”) will be treated by the Sponsor as confidential. The Sponsor will take reasonable steps to protect the confidentiality of the Submission and will not disclose any Submission to the public or to any third party without the express consent of the Participant, except as (i) reasonably necessary to administer the Contest; (ii) expressly permitted by these Official Rules; or (iii) required by law. The Sponsor’s confidentiality obligations do not extend to information that: (i) was already rightfully known to the Sponsor prior to the date of the Submission; (ii) becomes publicly known or available through no fault of the Sponsor; (iii) is disclosed to the Sponsor by a third party who has the right to make such disclosure; or (iv) is independently developed by the Sponsor without use of the Submission.

 

13. RELEASES, CONDITIONS, AND LIMITATIONS OF LIABILITY.

By submitting an entry in the Contest, each Participant (whether declared the Winner or not) agrees to forever and irrevocably release, discharge, indemnify and hold harmless the Sponsor, its affiliates and their respective officers, directors, licensors, employees, representatives, contractors, and agents (the “Released Parties“) from any liability, claims, demands, and causes of action from loss or damage of any kind, property damage, theft, or loss suffered or resulting in whole or in part, directly or indirectly, from participation in this Contest, including the receipt or use of the Prize.

 

By participating in the Contest, each Participant acknowledges and agrees that the Released Parties have neither made nor are in any manner responsible or liable for any warranty, representation, or guarantee, express or implied, in fact or in law, relative to the Prize, including but not limited to its quality, condition, or fitness for a particular purpose, unless otherwise provided for in the Documentation signed by the Sponsor and the Winner.

 

The Sponsor, in its sole discretion, reserves the right to disqualify and prohibit from participating (and void such person’s entries) any person, organization or legal entity, who the Sponsor determines (in its sole discretion) is or is attempting to: (i) tamper with the Sponsor’s website and/or any part of the Contest; (ii) undermine the legitimate operation of the Contest by cheating, deception, or other unfair practices, (iii) or intending to annoy, abuse, threaten or harass any other Participant, the Sponsor, or the Released Parties; and/or (iv) otherwise violate these Official Rules. ANY ATTEMPT TO DELIBERATELY DAMAGE, CIRCUMVENT, OR DISRUPT THE SPONSOR’S WEBSITE (OR ANY PART THEREOF) OR UNDERMINE THE LEGITIMATE OPERATION OF THIS CONTEST MAY BE A VIOLATION OF CRIMINAL AND CIVIL LAWS. SHOULD ANY SUCH ATTEMPT BE MADE, THE SPONSOR AND ITS LICENSEES (IF ANY) RESERVE THE RIGHT TO SEEK DAMAGES AND ANY OTHER AVAILABLE REMEDIES FROM ANY PERSON(S) RESPONSIBLE FOR ANY SUCH ATTEMPT TO THE FULLEST EXTENT PERMITTED BY LAW. EACH PARTICIPANT AGREES TO INDEMNIFY AND HOLD HARMLESS THE SPONSOR AND RELEASED PARTIES FROM AND AGAINST ANY AND ALL CLAIMS, LOSSES, DAMAGES AND/OR LIABILITIES (INCLUDING REASONABLE ATTORNEYS' FEES AND EXPENSES) THAT MAY BE ASSERTED AGAINST OR INCURRED BY ANY OF THEM AT ANY TIME, IN CONNECTION WITH THE USE THEREOF, AND/OR BY PARTICIPANT’S BREACH OF ANY REPRESENTATION, WARRANTY OR COVENANTS ASSOCIATED WITH THIS CONTEST. The use of any automated device, automated launching or entry software or any other mechanical or electronic means that permits the Participant to automatically enter or evaluate repeatedly is prohibited. The Sponsor disclaims all liability for any delays, misdelivery, loss, or failure in the delivery of any item sent by mail, courier, express, electronic transmission, or other delivery method.

 

Released Parties are not responsible for: (1) mechanical, technical, electronic, communications, telephone, computer, hardware or software errors, malfunctions or failures of any kind, including: failed, incomplete, garbled or delayed transmission of online entries, traffic congestion on telephone lines, the Internet or at any website or lost or unavailable network connections which may limit an online Participant’s ability to participate in the Contest; (2) any injury or damage to Participant’s or any other person’s computer related to or resulting from participating in or downloading any information necessary to participate in the Contest; (3) any incorrect or inaccurate information, whether caused by Participants, printing errors or by any of the equipment or programming associated with or utilized in the Contest; (4) technical failures of any kind, including, but not limited to malfunctions, interruptions, or disconnections in phone lines or network hardware or software; (5) unauthorized human intervention in any part of the entry process or operation of the Contest; or (6) technical or human error which may occur in the administration of the Contest or the processing of entries.

 

The Sponsor further reserves the right to: (i) cancel, terminate, suspend, declare null or void, amend, alter, or modify the Contest, void any suspicious entries, rescind the Prize, and/or determine absolute resolution, and/or an alternate method of conducting the Contest and/or awarding the Prize at any time, for any reason, or if, in the sole discretion of the Sponsor, it is impossible or impractical to complete or conduct the Contest as planned for any reason, including, but not limited to, infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures of any sort, or any other causes which effect the operation of the Contest or the rules of the integrity of the Contest have been violated or compromised in any way, intentionally or unintentionally by any person whether or not a Participant of the Contest; and/or (ii) stop or conclude the Contest at any time without prior notice.

 

14. GOVERNING LAW AND DISPUTE RESOLUTION.

The Participant agrees that all matters arising out of or relating to the Contest and these Official Rules, the construction, validity, interpretation, and enforceability of these Official Rules are governed by, and construed in accordance with, the laws of the State of New Jersey, without giving effect to any of its conflict of laws provisions thereof. Each Participant agrees that any and all disputes, claims and causes of action arising out of or connected with the Contest, including the Prize awarded or the selection of the Winner, and these Official Rules shall be resolved individually, without resort to any form of class action. The Participant further agrees that any legal suit, action, or proceeding arising out of or relating to the Contest and these Official Rules shall be brought exclusively in the applicable federal or state courts located in the State of New Jersey.

 

15. CONTACT DETAILS.

All inquiries regarding the Contest may be directed to the Sponsor at PR@ventionteams.com.

 

Last update: 05/29/2024