Terms and Conditions
TERMS AND CONDITIONS VENTURE WINSTON GRANTS COMPETITION 2021 POWERED BY AGILE CITY OFFICIAL RULES VOID WHERE PROHIBITED OR RESTRICTED BY LAW. SPONSOR: The sponsor of the Competition (the “Competition”) is Agile City Winston Salem a North Carolina non-profit with principal business address at 500 W. 5th St., Suite 800 PMB 17, Winston-Salem, NC 27101 (“Sponsor”).
IN-PERSON PARTICIPATION IS REQUIRED OF FINALISTS UNLESS PROHIBITED BY FEDERAL, STATE OR LOCAL JURISDICTION OR FORCE MAJEURE. FINALISTS ARE RESPONSIBLE FOR TRAVEL COSTS AND EXPENSES TO PARTICIPATE.
PURPOSE: The Competition (“Venture Winston Grants” or the “Competition”) provides non-equity grants and ecosystem support to start-up companies in future-focused sectors.
WHEN TO ENTER: Applications may be submitted to Venture Winston Grants beginning May 1, 2021, and shall continue until June 30, 2021 unless otherwise modified.
ELIGIBILITY: Applications are open to companies incorporated within the United States and its jurisdiction. Applicants must be willing, able, and ready to relocate 51% of their team members, including one founder, to Winston-Salem, NC for at least 1 year starting January 2022. Founders must be U.S. Citizens or permanent residents of the United States.
Eligible companies must be focused on either agriculture & nutrition, aviation & flight, or healthcare & wellbeing. Well-suited candidates will fit into one of the below categories (to learn more about these categories, please visit VentureWinstonGrants.org):
- Healthcare & Wellbeing: Patient-Driven Experiences
- Healthcare & Wellbeing: Enterprise AI Solutions
- Healthcare & Wellbeing: Next Generation Hospitals
- Healthcare & Wellbeing: Virtual / Remote Care (including telehealth & wearables)
- Aviation & Flight: Unmanned Aircraft Systems (UAS)
- Aviation & Flight: Electrical Vertical Takeoff and Landing (eVTOL)
- Aviation & Flight: Air Traffic Control Systems (UTM)
- Agriculture & Nutrition: Full-spectrum health
- Agriculture & Nutrition: Bio-based products
- Agriculture & Nutrition: Urban-rural connection
- Agriculture & Nutrition: Regenerative agriculture
HOW TO ENTER: Applicants must submit their full submission via the F6S web platform by the deadline date. The F6S application can be accessed from VentureWinstonGrants.org or directly at f6s.com/venturewinstongrantscohortone2021
JUDGING CRITERIA: Applicants will be judged by an evaluation committee to include members of Agile City, its partners, affiliates and sponsors. Each selection will be reviewed and scored using a standard rubric that evaluates strength of the idea, the size of the problem, the confidence in the solution, product-market fit, size of addressable market, diversity of the founding team, and a range of quantitative financial metrics covering revenue and profit potential of the venture.
NOTICE OF AWARDS: Applicants will be notified of their application’s status either by email or through F6S. This shall occur at several intervals: (a) when the application is submitted, (b) when semi-finalists are selected, (c) when finalists are selected, and (d) when winners are selected. We anticipate winners to be selected in late October 2021 and announced during the first week of November 2021.
AWARDS: The Venture Winston Grant award is a $50,000 non-dilutive grant provided to companies that show great promise to innovate within our target sectors.
GENERAL AWARD CONDITIONS
Grant winners will be required to execute a Grant Agreement with Agile City. GRANT WINNERS ARE SOLELY RESPONSIBLE FOR ANY FEDERAL, STATE AND/OR LOCAL TAXES ASSOCIATED WITH ACCEPTING A GRANT PRIZE.
ENTRANT REPRESENTATIONS, WARRANTIES AND COVENANTS
By submitting a Submission in the Competition, each entrant represents, warrants, and covenants as follows: (a) contact and factual information that is submitted as part of the Submission is true and accurate; (b) the content of the Submission is the original work of the entrant (or entrants, if a team) and such entrant (or entrants, if a team) is/are the sole author, creator, and owner of the Submission; (c) entrant is eligible to participate in the Competition in accordance to the eligibility criteria set forth in these Official Rules; (d) the Submission is not the subject of any actual or threatened litigation or claim, and entrant is not under a contractual, employment or other obligation to provide the content of the Submission to any other person or entity as part of an exclusive obligation, first right of refusal, or other similar restriction; (e) the Submission does not and will not violate or infringe upon the intellectual property rights, privacy rights, publicity rights, or other legal rights of any third party; (f) the Submission does not and will not contain any harmful computer code (sometimes referred to as “malware,” “viruses” or “worms”); and (g) the Submission and entrant’s use of the Submission do not and will not violate any applicable laws or regulations, including, without limitation, applicable export control laws and regulations of the United States and other jurisdictions. If the Submission includes any third party works (such as third party content or open source code), entrant has permission or a license or release to use such works and must be able to provide, upon Sponsor’s request, all appropriate substantiation of the right to use such third party works.
In the event entrant cannot provide all required substantiation, Sponsor reserves the right, in Sponsor’s sole discretion, to disqualify the applicable Submission, or seek to secure the licenses and releases for Sponsor’s benefit and allow the applicable Submission to remain in the Competition. The Sponsor has no responsibility for any agreements between entrants and third parties.
SUBMISSION LICENSE: EACH ENTRANT RETAINS TITLE AND FULL OWNERSHIP IN AND TO THEIR SUBMISSION. EACH ENTRANT EXPRESSLY RESERVES ALL INTELLECTUAL PROPERTY RIGHTS NOT EXPRESSLY GRANTED UNDER THESE OFFICIAL RULES.
By participating in the Competition, each entrant hereby irrevocably grants to Sponsor and their designees a limited, non-exclusive, royalty free, worldwide, copyright license and right to use the Submission and any product arising from the Submission to the extent necessary to administer the Competition, and to publicly perform and publicly display the Submission and any product arising from the Submission, including, without limitation, for advertising and promotional purposes relating to the Competition. For avoidance of doubt, Sponsor may have products or services that are similar or competitive to the ideas and concepts provided in the Submissions and nothing shall impair Sponsor’s rights to develop, make, use, procure, or market products or services now or in the future that may be competitive with those in the Submissions. Sponsor has no obligation to keep any of the Submissions confidential. Sponsor will not be restricted in any manner from using any content from a Submission that is within the public domain.
By participating in the Competition, in addition to any other grants granted herein or which may be granted in any other agreement entered into between Sponsor, on the one hand, and any entrant in the Competition, on the other hand, each entrant hereby irrevocably grants to Sponsor and their designees the right to use such entrant’s name, likeness, image, and biographical information in any and all media for any purpose, including, without limitation, advertising and promotional purposes, without any further notice, compensation, review or approval. No entrant may use the name or logo of the Sponsor in any publicity related to a Submission or any product resulting from a Submission without the prior express written consent of Sponsor.
DATES AND DEADLINES
Because of the unique nature and scope of the Competition, the Sponsor reserves the right, in addition to those other rights reserved herein, to modify any dates or deadlines set forth in these Official Rules or otherwise governing the Competition. In the event that the Application Period is changed in any way, or Round 1 judging is delayed, notice will be posted at the Competition Website. In the event that any dates relating to Competition-related activities are changed after Round 1 judging is complete and Finalists are determined, the Sponsor will notify Finalists directly using the contact information provided in their Submission of applicable changes in timing.
LIMITS ON LIABILITY
By participating in this Competition, each entrant agrees to release, defend, indemnify and hold harmless Sponsor, Sponsor’s affiliates, their respective employees, agents and representatives (including advertising agencies), the judges and all others associated with this Competition (the “Released Parties”) from and against any and all claims arising from a breach of the entrant’s representations, warranties and covenants under these Official Rules and any and all injury, loss, or damage caused or claimed to be caused by an entrant’s participation in this Competition or any Competition-related activities, including travel/to from such activity, and/or the acceptance, awarding, receipt, use and/or misuse of prize and for any claims or causes of action based on publicity rights, defamation or invasion of privacy and prize delivery. The Released Parties assume no responsibility, and shall not be liable for, (a) any damage to an entrant’s computer system which is occasioned by accessing the Competition Website or participating in the Competition, or for any computer system, phone line, hardware, software, or program malfunctions, or other errors, failures, delayed computer transmissions, or network connections, or for the incorrect or inaccurate capture of information, or the failure to capture any information; (b) incomplete, garbled, misdirected, late, lost, damaged, or stolen entries, prize notifications or prize claims; (c) interrupted, inaccessible, or unavailable networks, servers, satellites, Internet Service Providers, websites, or other connections; (d) miscommunications, failed, jumbled, scrambled, delayed, or misdirected computer, telephone, cable transmissions or other communications; or (e) for any technical malfunctions, failures, difficulties, or other errors of any kind or nature. The Released Parties have not made any warranty, representation, or guarantee, express or implied, in fact or in law, with respect to prize, including, without limitation, regarding such prize’s merchantability or fitness for a particular purpose. Selection of the winning Submission is not a representation of guarantee that such Submission will be funded or commercialized by anyone, or that such Submission is actually commercially viable. The Sponsor and Administrator each reserve the right in their sole discretion to disqualify any party who violates these Official Rules, is found to be tampering with the entry process or the operation of the Competition or Competition Website, or to be acting in an unsportsmanlike or disruptive manner, or with the intent to disrupt or undermine the legitimate operation or integrity of the Competition, or to annoy, abuse, threaten, or harass any other person, and Sponsor reserves the right to seek damages and other remedies from any such person to the fullest extent permitted by law. In the event an insufficient number of eligible or quality entries are received, or the Sponsor is prevented from awarding the prize or continuing with the Competition as contemplated herein by any event beyond its control, including, without limitation, fire, flood, natural or man-made epidemic, earthquake, explosion, labor dispute or strike, act of God or public enemy, satellite or equipment failure, riot or civil disturbance, terrorist threat or activity, war (declared or undeclared) or any federal state or local government law, order, or regulation, public health crisis, order of any court or jurisdiction, or other cause not reasonably within the Sponsor’s control (“Force Majeure”), the Sponsor shall have the right to modify, suspend, or terminate the Competition by giving notice of the foregoing at the Competition Website or directly to Finalists, depending when in the process the forgoing occurs. The invalidity or unenforceability of any provision of these Official Rules shall not affect the validity or enforceability of any other provision. In the event that any provision is determined to be invalid or otherwise unenforceable or illegal, these Official Rules shall otherwise remain in effect and shall be construed in accordance with their terms as if the invalid or illegal provision were not contained herein. In the event of a conflict between these Official Rules and any other Competition-related materials or information, the terms of these Official Rules shall prevail. DISPUTES: Each entrant agrees that, by entering this Competition (i) any and all disputes, claims, and causes of action arising out of or in connection with such Competition, or prize awarded,shall be resolved individually without resort to any form of class action and exclusively by a federal or state court located in Forsyth County, North Carolina; (ii) any claims, judgments, and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with entering such Competition, but in no event attorney’s fees; and (iii) under no circumstances will any entrant be permitted to obtain any award for, and each entrant hereby waives all rights to claim, punitive, incidental, or consequential damages and any and all rights to have damages multiplied or otherwise increased and any other damages, other than damages for actual out-of-pocket expenses. GOVERNING LAW: ALL ISSUES AND QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, INTERPRETATION, AND ENFORCEABILITY OF THESE OFFICIAL RULES OR THE RIGHTS AND OBLIGATIONS OF ENTRANTS, THE SPONSOR IN CONNECTION WITH THE COMPETITION SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NORTH CAROLINA WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICT OF LAWS RULES OR PROVISIONS.
Submissions made to the Venture Winston Grants program shall be through the F6S web platform, and all privacy shall be governed by F6S’ privacy policies. To learn more, visit: https://www.f6s.com/privacy-policy