92Y GENIUS STARTUP COMPETITION TERMS & CONDITIONS
1. Entry. Entrants must submit an online entry form at 92Y.org/GeniusContest beginning on February 7, 2014, and no later than February 26, 2014. The 92Y Genius Startup Competition (“Competition”) is governed by certain conditions, rules, and requirements (“Rules”). There is no fee to enter the Competition. The sole presenter of this Competition is The Young Men’s and Young Women’s Hebrew Association (“92nd Street Y”) located at 1395 Lexington Avenue, New York, NY 10128.
2. Representations and Warranties. The Entrant who submits this application represents and warrants that he/she/they have the full power and authority to enter this Competition on behalf of the Entrant and all members of the Entrant’s team (all members of such team are hereinafter referred to as the “Entrant” or the “Entrant’s team”) and that all members of the Entrant’s team will be bound by the Rules of this Competition. By entering this Competition, Entrant warrants that he/she/they are not and will not be violating any contract, agreement, or third party rights, including, without limitation, any patent, copyright, trade secret, proprietary or confidential information, trademark, service mark, publicity or privacy right or rights.
The Entrant further represents and warrants that the ideas, business concepts and/or business submitted to the Competition are the original work of the Entrant or the Entrant’s team.
The Entrant further represents and warrants that the members of Entrant’s team as set forth in the online entry form are the only individuals entitled to share in the prize, and that Entrant acknowledges and agrees that the prize will be evenly divided between the individuals on Entrant’s team and that no member of Entrant’s team is entitled to a higher or lower percentage of the prize than any other member.
The Entrant further represents and warrants that he/she/they have read and understand all of the Rules of this Competition, including, without limitation, the fact that the 92nd Street Y will not protect the intellectual property and/or the confidential information of each Entrant (please see Rule 7).
3. Eligibility. The Competition is open to U.S. citizens 18 years of age and older. Employees or family members (parents, children, spouses, and siblings) of 92nd Street Y is not eligible to enter either individually or as members of any team. No individual may enter this Competition as a member of more than one Entrant.
All Entrants must be early stage startups that have ideas or business concepts that require startup capital. Operating businesses with existing revenue are not eligible to enter the Competition. Businesses that have earned revenue and/or have paid taxes are not eligible. Any business that was incorporated prior to December 31, 2012 is not eligible to enter; only entities incorporated on or after January 1, 2013 may enter the Competition. If your venture has an existing Employer Identification Number (EIN) issued by the IRS you may be asked to explain why you believe that your business is an early stage startup. There is no fee to enter the Competition and there is only one round in the Competition.
4. Judging. The judges are (i) Asha Curran, Director of Innovation from 92nd Street Y (ii) Steve Schlafman, Principal at RRE Ventures, and (iii) Aaron Holiday, Managing Entrepreneurial Officer from Cornell Tech. Winners will be selected by the judges based upon the following criteria. All decisions of the judges are final.
a. Innovation: Is this idea a true breakthrough? What is so cutting-edge or exciting about this project? Have we seen this idea before?
b. Impact: How will this idea change the world? What is its impact on the community?
c. Implementation: How expensive is this project? What is the project timeline?
5. Prizes. Following the end of the Competition, the following prizes will be awarded to the individual Entrant or Entrant Team and not to her/his/their business entity. Entrant or Entrant team will determine how and by whom each prize will be utilized.
1st Place Award: Six months prepaid at a co-working space in the city of your choice, pending availability; A consultation with RRE Ventures; A consultation with technical and business members of the Cornell Tech community; One complimentary Entrepreneurial Life class at Cornell Tech, led by Greg Pass, former CTO of Twitter.
2nd Place Award: Invitation to Open Studio at Cornell Tech, a day where students, postdocs, PhDs, and entrepreneurial faculty at Cornell Tech publicly reveal and discuss the breakthrough projects and products that are being built on the campus; A 92Y Spring 2014 Talks Season Pass, pending availability.
Runner Up: A 92Y Spring 2014 Talks Season Pass, pending availability.
Prizes are non-transferable and no substitutions are allowed. Winning Entrants are subject to all applicable rules and regulations. Winners must pick up their tickets at 92Y box Office. Winners will be selected on March 1, 2014 by the judges and will be notified by email or telephone on March 3, 2014. A complete list of winners can be obtained after March 5, 2014 92y.org/GeniusContest. Season Pass winners must contact 92Y at least 7 days prior to each event to confirm their attendance.
6. Disqualification. Violation of any one or multiple Rules will result in disqualification at any point by 92nd Street Y, in its sole discretion.
7. Confidentiality. By the submission of an online entry form, you as Entrant, the Entrant’s team, and all stakeholders in your ideas, business concepts or business understand and agree that a short description of your business concept or plan may be disclosed in public documentation related to the Competition. A copy of your entry form will be distributed to Competition staff and judges only. No staff or judge will be authorized to create additional copies of the entry form. 92nd Street Y hereby disclaims any and all responsibility to protect the intellectual property and/or the confidential information of each Entrant. Protection of the above is the sole responsibility of each Entrant. Please note that at no time do other Entrants, judges or staff sign Confidentiality or Non-Disclosure Agreements.
8. Indemnification. Entrant shall at all times defend, indemnify and hold harmless the 92nd Street Y, its and their trustees or directors, officers, employees and agents from and against any and all third party claims, damages and liabilities, and reasonable costs and expenses (including reasonable outside attorneys’ fees) growing out of or arising from any breach of the Rules by Entrant.
9. Interpretation. 92nd Street Y retains the right, in its sole discretion, to enforce or interpret contest Rules.
10. Miscellaneous. Entrants agree that they will not use the names of 92nd Street Y or any variation, adaptation or abbreviation thereof, or of any of its trustees, officers, staff, faculty, students, judges or agents, or any trademarks owned by 92nd Street Y without the written permission of 92nd Street Y.
92nd Street Y make no representations or warranties of any kind concerning the Competition, express or implied. In no event shall 92nd Street Y, its trustees, directors, officers, staff, faculty, students, judges, agents or affiliates be liable, responsible or accountable for any advice, information or decisions made for or on behalf of the Competition or for incidental or consequential damages of any kind, including economic damages or injury to property or loss of profits, regardless of whether 92nd Street Y shall be advised, shall have other reason to know, or shall in fact know, of the possibility of the foregoing.