TERMS AND CONDITIONS OF PRESENT YOUR STARTUP:
1. Program dates
If selected for one or more of the program (the “Program”) component(s) below attendance is mandatory. If there will be changes in the dates, components or in case of additional information the attendees will be informed without delay.
Applications open: 15 May 2019
Applications close: 06 September 2019
Introduction day: 23 September 2019
Selected startups announced: 01 October 2019
Prepare Your Startup Bootcamp: 28 October 2019 – 01 November 2019
Selection five finalists: 01 November 2019
Meet the investor diner: 14 November 2019
Finals: 04 December 2019
2.1 The Program is open to:
a. Individuals or teams of individuals of all ages, provided the individual is (or, in the case of a team, all individuals in the team are) at least 18 years of age.
b. Corporations (including not-for-profit corporations and other non-profit organizations), limited liability companies, partnerships, and other legal entities where the directors, shareholders and employees are at least 18 years old; (the “Participant”).
2.2 Participants must own or have access, at their own expense, to a computer and any other electronic devices, documentation, software or other items a Participant may deem necessary to participate in the program.
2.3 Each Participant who is a team or organization shall appoint one individual (the “representative”) to represent it and act on its behalf. The representative represents and warrants that he/she is duly authorized to act on behalf of the team or organization and has read the Terms & Conditions, and that the team or organization agrees to abide by these Terms & Conditions. The representative will ensure that each member of the team or organization participating in the Program, has read and complies with the Terms & Conditions.
3. Program application period
3.1 Participants may enter an application until September 6th 2019 11:59 pm CEST (the “application period”). The computer of Stichting Present Your Startup (the “Organizer”) is the official timekeeping device for this Program.
3.2 Any application entered outside the Program application period shall not be taken into account.
4. General requirements
4.1 The official language of the program is English but Dutch is also used.
4.2 Participants must fall into one of the following stages: pre (seed) or early stage.
4.3 An application may be rejected at the sole discretion of Organizer for any reason, including if the application is deemed to be obscene, defamatory, likely to incite violence or illegal activity, in violation of any third-party’s rights or any relevant regulations, or is otherwise deemed to be inappropriate.
5.1 A limited group of applicants will be invited to the Introduction day. It is anticipated that around 30-50 will be invited, though Organizer reserves the right to select more or less depending on the quantity and quality of applications received.
5.2 Organizer will select a number of startups out of the attendees of the Introduction Day to attend the Prepare Your Startup Bootcamp. It is anticipated that around 10 startups will be selected, though Organizer reserves the right to select more or less depending on the quantity and quality of applications received.
5.3 Selected startups for the Prepare Your Startup Bootcamp are required to pay a fee for the rest of the Program of 795 excluding VAT per person or 1295 for two co-founders. This amount must be paid before the Prepare Your Startup Bootcamp. In the absence of payment another startup will be given your place in the Prepare Your Startup Bootcamp.
5.4 Organizer will select a number of startups out of the attendees of the Prepare Your Startup Bootcamp to attend the Finals (the “Finalists). It is anticipated that around 5 startups will be selected, though Organizer reserves the right to select more or less depending on the quantity and quality of applications received.
5.5 Before the finals it is intended to do an investor dinner to meet investors informally but also already during the bootcamp and demo day. During the finals startups get a big stage.
5.6 Participation in hosted events, pitches and workshops during the program is mandatory for all Selected Participants per program component. Participants must continue to comply with these Terms & Conditions throughout the whole Program.
6. Obligations selected startups Bootcamp and Finals
6.1 Selected startups for the Prepare Your Startup Bootcamp are obliged to a one-off success fee of 2% over the amount of funding raised by the startup during the Program and thereafter until 1 July 2020. If Organizer can after 1 July 2020 indicate that an investor came via Present Your Startup, the fee also applies to an investment after 1 July 2020 until 1 January 2021 at the latest. All amounts are ex VAT and all payments has to be done within 2 weeks after signing a termsheet on a bank account specified by Organizer.
6.2 Organizer appointed PYS Startups BV to receive 2% shares from all Finalists at nominal value which shares shall not be susceptible for dilution in the first round of (promised) funding. The documents for the transfer must be delivered within 2 months after the final so that the notary can be instructed to initiate the transfer. A similar condition will be imposed on a company without shares. This only applies on the Finalists.
6.3 The transfer of shares can be bought off in the first half year after the finals without the shares being transferred to Organizer. If the startup chooses to buy off the transfer, this will be announced to Organizer in writing as soon as possible, but at the latest within 6 months after the finals. In this case this will be arranged in the following manner:
a. The amount that applies will be discussed between the parties as soon as the Finals made the announcement to Organizer in writing;
b. The startup will ensure that the aforementioned amount will be transferred all at once to the bank account of Stichting Present Your Startup, within 4 weeks after the written confirmation as described above;
c. After the mentioned amount has been transferred to the bank account of Stichting Present Your Startup, the startup will no longer be obliged to transfer 2% of the shares to PYS Startups BV;
d. If the startup fails to transfer the amount within the 4 weeks term, the entire outstanding amount will be immediately due and payable with or without legal measures. At that moment, PYS Startups BV will be free to take collection measures, which can consist of legal measures, without further notice. The consequential costs will be borne by the client.
e. When the time limit of payment is exceeded PYS Startups BV will, until the moment of payment, have the opportunity to switch back to the initial obligation and can oblige the startup to transfer 2% of the shares instead of paying the mentioned amount for buy off.
6.4 If Finalist decides not to participate in the finals because of this transfer of shares or compensation, another startup will be given its place in the Finals.
6.5 Finalist that commit themselves to participation in the Finals. Finalist that don’t show up for the finals will be fined with an amount of 5000, - euro excl. VAT by Organizer.
7. General Conditions
7.1 The Organizer reserves the right to cancel, suspend and/or modify the program, or any part of it, if any fraud, technical failure or any other unanticipated factor or factor beyond the Organizers control impairs the integrity or proper functioning of the program, as determined by the Organizer at her sole discretion.
7.2 The Organizer reserves the right at her sole discretion to disqualify any Participant, specifically including, but not limited, when acting in violation of these Terms & Conditions, or in a manner that is inappropriate, unsportsmanlike, not in the best interests of this program, or a violation of any applicable law or regulation.
7.3 In the event of any discrepancy or inconsistency between any provisions of these Terms & Conditions and disclosures or other statements contained in any program materials, including, but not limited to, the program application form, program website, and advertising these Terms & Conditions shall prevail.
7.4 The Organizer reserve the right, without liability, to amend these Terms & Conditions at any time, including the rights or obligations of Participants or itself. In such event, the Organizer will post the amended Terms & Conditions on the program website. Any amendment will become effective at the time the Organizer post the amended Terms & Conditions.
7.5 All intellectual property related to this Program (excluding Participants’ products and innovations and proprietary intellectual property), including, but not limited to, trademarks, trade-names, logos, designs, promotional materials, web pages, source codes, drawings, illustrations, slogans and representations, are owned or used under license by Organizer. All rights are reserved. Unauthorized copying or use of any copyrighted material or intellectual property without the express written consent of its owners is strictly prohibited.
7.6 The Participants shall at all times act in accordance with all applicable laws in any relevant jurisdiction and continue to do so during their involvement in the Program. Organizer may terminate any agreement with the Participant with immediate effect should it, in its sole discretion, deem that the Participant has contravened any applicable laws. The Organizer shall not be liable for any direct or indirect losses of the Participant arising out of any termination under this clause.
7.7 Should any provision of these Terms & Conditions be, or become, illegal or unenforceable, such illegality or unenforceability shall leave the remainder of these Terms & Conditions unaffected and valid. The illegal or unenforceable provision shall be replaced by a valid and enforceable provision that comes closest and best reflects the Organizers intention in a legal and enforceable manner with respect to the invalid or unenforceable provision.
Organizer nor any of its officers, directors and employees shall in no event be liable for anything arising out of or in any way connected with the participation of Participant to the Program or otherwise, and Organizer, including its officers, directors and employees shall not be liable for any indirect, consequential or special liability arising out of or in any way related to the participation
Participation in the Program constitutes a Participant’s consent to Organizers use of the Participant’s name and description, including organization name, if applicable, and the Participant’s likeness, photograph, voice, opinions, comments and/or the place of business / residence of the Participant (or individuals who contributed to the Participant’s application) for promotional purposes in any media, worldwide, without further payment or consideration.
11. Law and jurisdiction
These Terms & Conditions (including any associated non-contractual disputes or claims) is governed by Dutch law and the parties hereby accept the exclusive jurisdiction of the competent courts in Haarlem in relation to any dispute arising under or in connection with these Terms & Conditions.
12. Contact us
If you have any questions or wish to send us any notice regarding this Program, please email us at firstname.lastname@example.org.