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.
