Entering Teams: Only entries that have the intent of creating a startup will be accepted into the Challenge
Startups: Startups will be created during the course of the challenge
U.S. Incorporation: The Challenge is International. However, all startups must reside and incorporate within the United States.
Board of Advisors: The sponsor and venture fund will assist the new startups with creating their board of advisors
To be eligible to participate in this Challenge, individuals and Challenge Teams must adhere to the following eligibility requirements:
NOTE: at the minimum your team must have at least 2 members, and either member must have invention relevant experience and/or have 3 years experience as an entrepreneur. You can continue to build and change your team throughout the Challenge
Registration: Each Challenge Team leader must execute a Letter of Intent (LOI) and be approved to proceed in the Challenge
Startup Intentions: Only entries that have the intent of creating a startup will be accepted into the Challenge
Team Names: For team names and for required documents we require teams to stick to the guidelines for file naming conventions. However, we encourage teams to create alternate team names to show their spirit and creativity
Team Members: Challenge Team members can be from the university faculty, university Technology Transfer, university alumni, the team can be from different universities and can also include business leaders in the community. Additional members can be anyone who the team believes will help them be successful as long as they adhere to the eligibility requirements and rules outlined in this Challenge
All Submissions must comply with the following rules:
Original Work: Challenge submissions must be the original work of the Challenge Team. Upon submission, each applicant warrants that he or she is the sole author and owner of the submission that the work is wholly original with the application (or is an improved version of an existing work that the applicant has sufficient rights to use – including the substantial improvement of existing open-source work) and that it does not infringe any copyright or any other rights of any third party of which applicant is aware. Each applicant warrants further that the Submission is free of malware. Each applicant retains all rights in its Submission
Information sharing is fundamental to the attainment of the Challenge’s goals of collaborative innovation among the Participants. However, information sharing during the time frame of the Challenge is for the limited purpose of creating business plans and live pitches, including commercialization plans, development plans, regulatory strategies, intellectual property strategies and such other deliverables as the Challenge Teams believe are critical for the business plan of the Challenge. Details for the Challenge can be found on the Overview Page.
Accordingly, the Challenge Teams shall only use Confidential Information for the Challenge. In addition, the Challenge Teams will keep all Confidential Information they receive directly or indirectly from any other Participant strictly confidential and, except as permitted herein, shall not disclose, reveal or share any portion of the Confidential Information to or with any individual or entity.
As used herein, “Confidential Information” means any and all information that is presented or disclosed by a Participant to any other Participant(s) in written, electronic, visual or oral form or in any other tangible medium during meetings, communications, or other information exchanges held in connection with the business plan of the Challenge. Confidential Information shall include, but not be limited to, unpublished data, research results, unpublished proprietary methods, financial/valuation models, business plans, business model canvases, theories, drawings and figures or visual depictions of research data or results regardless of format. Confidential Information also includes anything disclosed by a Participant (the “Disclosing Participant”) to another Participant that the Disclosing Participant marks in writing as “Confidential.”
“Confidential Information” shall not include, and the obligations contained herein shall not extend to, any part of the Confidential Information: (a) that can be demonstrated to have been in the public domain or publicly known at the time of disclosure; (b) that can be demonstrated to have been in the possession of or that can be demonstrated to have been readily available to Signatory from another source prior to the disclosure; (c) that becomes part of the public domain or publicly known by publication or otherwise, not due to any unauthorized act by Signatory; (d) that can be demonstrated as independently developed or acquired by Signatory without reference to or reliance upon such Confidential Information; or (e) that is required to be disclosed by law.
Taxes: You are responsible for all taxes and reporting related to any award you receive as part of the Challenge
Participant Restrictions and Bans: The following participants and countries are banned from participating in this challenge. Afghanistan, Bahrain, Belarus, Bhutan, Burma (Myanmar), Central African Republic, China, Peoples Republic, Cote d'Ivoire, Congo, Cuba, Cyprus, Egypt, Eritrea, Fiji, Guinea, Haiti, Hong Kong, Iran, Iraq, Israel, Kyrgystan, Jordan, North Korea, Kuwait, Lebanon, Liberia, Libya, Macau, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sri Lanka, Sudan, Syria, Taiwan, United Arab Emirates, Venezuela, Vietnam, Yemen, Zimbabwe
General Conditions: CAI reserves the right to cancel, suspend, and/or modify elements of the Challenge, for any reason, at CAI's discretion. Participation in this Challenge constitutes an applicant’s full and unconditional agreement to abide by the Challenge's Official Rules found within this webpage
Press: All Challenge Teams, as a condition of participation in the Challenge, will be required to participate in media and press opportunities related to the Challenge at the request of CAI. CAI may, for example, request that the team:
CHALLENGE WEBSITE: The Challenge website will serve as a resource for information about the Challenge, including rules, timelines and contributors. The Challenge website will not be used for fundraising or for the advertising or marketing of non-Challenge related events or activities. The Challenge website is the sole property of CAI
The Center for Advancing Innovation