1.    Information published by Wellington Innovation Network on how to enter the competition forms part of these terms and conditions of entry.

2.    The competition is open to members of the public but excludes the project team associated with this competition.

3.    Applications made by an individual require that individual to be resident in the Wellington region (based on regional council boundaries). Applications made by a team require at least 50% of the team to be resident in the Wellington region.

4.    Applications can only be submitted using the downloadable template and emailed to the organisers at the stated email address.

5.    Partially completed applications will not be accepted. Applications for the first stage must be submitted and received by the closing date - 5.00pm, 16th August 2008.

6.    Entrants must include their full name, address, phone number and email address with their entry.

7.    Any area of commercial endeavour is valid, though the business must be legal in New Zealand. The judges reserve the right to exclude any entry that they believe compromises the public nature and image of this competition.

8.    All applications must pertain to new business creation, an early stage company or business development. Early stage or businesses entering must not have annual revenues exceeding $250,000 as of the final entry date for round three or have been operating for more than two years. Entries that are receiving funding from investors and/or other organisations are eligible for entry as long as they meet the above criteria.

9.    Only ideas will be considered for the second prize. If you are a seed or start-up business you are not eligible for the second prize. If a business idea wins the first prize then it is not eligible for the second prize.

10.    Once an application is received it becomes the property of Wellington Innovation Network. No documentation, materials or correspondence including all electronic information and all copies of such information will be returned to their original authors.

11.    Wellington Innovation Network or any other party associated with this competition will not be responsible for any lost, stolen, misdirected or delayed entries.

12.    All applications must be the original work of those making the submission. By entering they will be agreeing that their idea and any intellectual property is their sole property, or if co-owned, that the co-owners give permission for their entry into the competition.

13.    By accepting your idea, the organisers and sponsors of the Cable Car Challenge will not be accountable for any costs incurred in respect to existing or future intellectual property. Wellington Innovation Network will take all reasonable efforts to assure that all applicants retain their rights to their business plan and intellectual property, but will not sign a non-disclosure or confidentiality agreement before accepting or reviewing plans submitted to the competition. The protection of intellectual property and the rights to the ideas contained in business plan applications submitted are the ultimate responsibility of each applicant, and the organisers of the competition are not responsible for any proprietary information and/or intellectual property included in a business plan they submit to the Cable Car Challenge business plan competition. Applicants are advised not to put any descriptions of technology in their business plans, which would enable the reader to duplicate the technology or invention described.

14.    Competition entrants can enter as many times as they want.

15.    Once all entries are received, a shortlist will be selected by members of a judging panel established by Wellington Innovation Network. A screening panel of Wellington Innovation Network members may be appointed prior to this stage if entry numbers are deemed to be unmanageable.

16.    Applicants risk disqualification if they attempt to approach a judge, or have someone do that on their behalf, in connection with the competition.

17.    Wellington Innovation Network may use or publish any shortlisted entrant’s name, details about their idea (not including confidential material) and photographs or video footage of them for promotional purposes.

18.    Shortlisted finalists will be notified by phone or email - week commencing Monday 30th August and confirmed in writing. Wellington Innovation Network will make reasonable attempts to contact the shortlisted finalists but if they not able to be contacted within five working days then Wellington Innovation Network reserves the right to exclude them from the competition.

19.    All shortlisted finalists will be required to submit their more detailed business proposal using the downloadable template provided at www.cablecarchallenge.com. Partially completed applications will not be accepted. Applications for the second stage must be submitted and received by the closing date - 5.00pm, 30th September 2008.

20.    From this detailed business proposal the judges will select a number of shortlisted finalists to pitch to them. Only shortlisted finalists who are invited to pitch and actually pitch will be eligible for the prizes. These shortlisted finalists will be required to pitch on a date and time to be determined by Wellington Innovation Network. Failure to pitch at that time will mean that they are not eligible for the prizes.

21.    Each winner must be available for publicity and promotional purposes during and for a reasonable period after the Cable Car Challenge competition - including media interviews with newspapers, radio and TV - and Wellington Innovation Network may provide the media with each winner’s details, photographs and/or video footage for publication or broadcast.

22.    The decisions of the judges are final, including interpretation of the rules. The judges may disqualify any application they believe violates the letter or spirit of the competition guidelines.

23.    The prizes for the runner-up will include:
o    $10,000.
o    In-kind professional services to a level of $5,000

24.    The prize for the major winner will include:
o    $30,000 seed capital funding – this prize money must go into developing the business.
o    In-kind professional services to a value of $20,000

25.    The prize is not transferable or exchangeable. Prizes are not redeemable for cash.

26.    Neither Wellington Innovation Network nor any other party associated with this competition will be liable for any loss or damage whatsoever which is suffered or for any personal injury suffered or sustained in connection with the competition or any prize won in the competition, except for any liability which cannot be excluded by law.

27.    Wellington Innovation Network reserve the right to extend, cancel or amend this competition at any time.

28.    By entering the competition you are deemed to accept all these terms and conditions.

Entering the Cable Car Challenge is easy.

1. Firstly make sure you are eligible to enter. If you are entering as an individual then you must be resident in the Wellington region (this includes Wellington City, Lower Hutt, Upper Hutt, Porirua, Kapiti Coast and the Wairarapa). If you are entering as a team then 50% of your team must be resident in the region.

2. Secondly check that your business/ idea meets the criteria. Ideas/business�s can be in any industry � music, fashion, film, manufacturing, software, internet, retail� � but it must be for a new business, an early stage company or significant business development for an existing business.

3. Next summarise your idea/business by downloading the two page business plan summary template. A business plan summary is often submitted by an entrepreneur seeking start up or early-stage funding. It serves as an introduction to potential funders and is intended to elicit their interest so that they will want to know more about you and your idea/business. It should be brief (two pages) but contain enough of the business concept to enable a Judge or potential investor to make an initial evaluation. Well-written business plan summaries are part marketing pitch and part business analysis.

4. If you�re looking for further guidance, then come along to one of our seminars to get advice on what the judges will be looking for and how to improve your chances of winning.

5. Submit your completed business plan summary by 5pm, 12th September 2008. Only one entry is required to enter .You must email your entry to info@cablecarchallenge.com . Only e mail entries will be accepted.

6. Shortlisted finalists will be informed on 23rd September2008. At this stage short listed finalists will need to complete a more detailed five-page business plan summary. To help with this a number of seminars will be provided on financial projections, intellectual property protection and pitching.

7. This five-page business plan information must be submitted by 5pm, 14th October 2008. Based on this information the judges will invite a maximum of six -ten individuals or teams to pitch to them.

8. The pitch will occur on the Wellington Cable Car on Wednesday 29th October 2008 followed by an event the following evening where the judges will announce the winners at a Prizegiving function hosted by the Wellington Mayor.

Download Business plan summary template

Cable Car Challenge
PO Box 10-380
Wellington

Phone 04-4940975

Fax 04-4940978

info@cablecarchallenge.co.nz

The competiton has opened but we are still experiencing a few teething problems so more information will be available on this site later in the week. We will have the two page business plan template available with in the next day or two so check back to download it.

Stage One of the competition is open until August 16th so there is plenty of time to write that winning business summary.

Project Manager 9th July

We will be launching the 2008 Cable Car Challenge Business Plan competition on the 8th of July.Your business or idea could win you $50,000. Enter your business or business idea into the Cable Car Challenge - Wellington business plan competition and you could win $30,000 of seed capital and $20,000 of business services. Second prize is $10,000 seed capital and $5000 for business services.

So check out www.cablecarchallenge.com on July 8th to find out about the competition and how to enter.

Your business or idea could win you $50,000. Enter your business or business idea into the Cable Car Challenge - Wellington business plan compertition and you could win $30,000 of seed capital and $20,000 of business services. Second prize is $10,000 seed capital and $5000 for business services. We will be launching the competition and our new website on the 4th of July 2008.   

How to Protect Your Intellectual Property

Wednesday, 18th July at 5pm (1 Hour Duration)

John Terry of ELLIS VERBOEKET TERRY will talk on confidentiality and non-disclosure, and discuss the importance of developing an IP strategy for your business.

This workshop is free to all Cable Car Challenge participants, all you need to do is register via info@cablecarchallenge.com

Location:
Ellis Verboeket Terry, Level 12, Forsyth Barr House, 45 Johnston Street, Wellington

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We’ll post more information on upcoming seminars & events from time to time, so keep coming back!