COMPETITION FINAL RESULTS
COMPETITION OFFICIAL RULES
PLEASE REVIEW THESE OFFICIAL RULES BEFORE ENTERING THE COMPETITION
- Description of the Competition
The “Empowering eEntrepreneurship Competition” (“Competition”) is a competition among individuals, groups, startups or non-established companies with new and/or pioneering ideas that require guidance and/or support for establishing an online presence and for promoting and/or selling their products and/or services online.
- Agreement to Official Rules
2.1 The Participants (as the term is defined below) by entering the Competition acknowledge, agree with and accept these Official Rules (“Official Rules”), and acknowledge, agree and accept that these Official Rules constitute a binding and enforceable contract between the Participants and the Organisers. To this end, the Participants are urged to read these Official Rules carefully and ensure that they fully understand them prior to submitting the Entry Form (as the term is defined below).
2.2 The Organisers reserve the right to make reasonable amendments and/or changes to these Official Rules at any time prior to the expiration of the Competition Entry Period (as the term is defined below), without prior notice to the Participants. Any amendments and/or changes to these Official Rules will be posted by the Organisers on www.empower.com.cy, as soon as practicably possible. It is the responsibility of the Participants to be informed of any amendments and/or changes effected by the Organisers to these Official Rules.
3.1 The Competition is directed to residents of the Republic of Cyprus who are 18 years of age or older at the time of entry into the Competition. Employees and relatives of the Organisers (as the term is defined below) and/or the Evaluation Committee (as the term is defined below), or their respective officers, divisions, affiliates, subsidiaries, distributors, agencies, or advertising agencies associated with this Competition, are not eligible to enter and/or win the Competition (“Eligibility Criteria”). For the purposes of the Competition, relatives are defined as spouse, partner, parent, legal guardian, in-law, grandparent, sibling, children and grandchildren. The Competition is also directed to startups or non-established companies registered in the Republic of Cyprus.
3.2 The Organisers reserve the right to verify all submissions and to reject any submissions that do not meet, inter alia, the Eligibility Criteria as established by the Organisers and envisaged in these Official Rules.
The Competition is organised by Qmmerce Limited, a company duly incorporated and registered under the laws of the Republic of Cyprus with registration number HE332496 and having its registered office at 167 Kantaras Avenue, 2046 Strovolos, Nicosia, Cyprus (Qmmerce) and Stockwatch Ltd, a company duly incorporated and registered under the laws of the Republic of Cyprus with registration number HE105164 and having its registered office at 10 Costis Palamas Street, Suite 101, 6016 Larnaca, Cyprus (Stockwatch), collectively referred to as "Organisers". All decisions taken by the Organisers concerning the Competition shall be final and binding on all Participants, in all respects and the Participants shall not have any right to challenge any decisions of the Organisers.
- Evaluation Committee
An evaluation committee, appointed by the Organisers (“Evaluation Committee”) will judge and evaluate the participant’s Entry Forms (as the term is defined below), select six (6) Finalists (as the term is defined below), watch the presentations of the Finalists and decide on the three (3) Prize Winners (as the term is defined below) of the Competition in order of priority. The Evaluation Committee comprises of the following persons:
1. Christos Christou, Head of Innovation Centre & Idea Development, Cyta
2. Evangelos Coutrouzas, Co-founder and Executive Director, Qmmerce Limited
3. Paris Elia, member of the Board, KPMG Limited
4. Andreas Hadjioannou, Managing Director, Virtual IT Ltd
5. Neophytos Karamanos, General Manager, JCC Payment Systems Ltd
6. Marios Loucaides, Managing Director, Cyprus Trading Corporation Plc
7. Achilleas Malliotis, General Manager, Eurobank Cyprus Ltd
8. Dr. George Pamboridis, Managing Partner, Pamboridis LLC
9. Olymbios Toumazou, Executive President, RAI Consultants Ltd
- Participants/ Participation
The Participants in the Competition (“Participants”) can be individuals, groups of individuals, startups or non-established companies submitting their entries through the Competition’s entry form found on www.empower.com.cy/entry (“Entry Form”). [There is no participation fee and no purchase necessary to enter the Competition].
- How to Enter
7.1 Eligible Participants may enter the Competition by completing and submitting the Entry Form located at http://www.empower.com.cy/entry (“Entry Page”). Submission of Entry Forms can be made in either the Greek or the English language.
7.2 The Participants must submit a viable and innovative business proposal for an eCommerce website (online store), which will include, inter alia, a brief description of the idea, CV of the Participants and a short analysis of the need for web presence, marketing and sales ideas, the originality of the concept, description and expectations of market size, expected return and degree of maturity of the idea (the “Business Proposal”).
7.3 The Organisers shall bear no responsibility and/or liability in the event of failure to receive, for whatever reason which is beyond the Organisers’ control, any of the Entry Forms submitted within the Competition Entry Period (as the term is defined below).
7.4 Multiple entries by the Participants are allowed, provided that each Entry Form concerns different Proposals. In the event that a Participant submits more than one Business Proposals, only the Participant’s best Business Proposal will be selected by the Organisers for a chance to win a Prize (as the term is defined below). For the avoidance of any doubt, a Participant submitting more than one Business Proposals will not be able to win more than one Prize.
7.5 The Organisers shall not be responsible and/or liable for late, lost, incomplete, illegible, damaged or misdirected entries. All Entry Forms received by the Organisers which are incomplete, inaccurate, damaged or illegible or from ineligible entrants shall be rejected.
7.6 In the event that a Participant enters the Competition as a member of a team, such Participant acknowledges, understands and agrees that, in order for a team to be eligible to participate all members of the team must meet the Eligibility Criteria and agree to be bound by these Official Rules. By submitting the Entry Form, the Participant warrants that he has obtained the appropriate agreement and/or approval and/or consent of his team members. If any one team member does not comply with these Official Rules, the whole team will be disqualified. Each Participant is eligible to receive only one prize from the Organisers, whether individually or as a group.
7.7 Each Participant undertakes, agrees and covenants not to submit a Business Proposal which is offensive, defamatory, profane, pornographic, inappropriate or which invades upon the publicity rights or privacy of any person or otherwise infringes any person or entity's intellectual property, personal or proprietary rights, industrial property rights or any other rights of any person including, without limitation, copyright, trademark, patent, trade secret or confidentiality obligations or otherwise violates in any way applicable law. In the event that the Organisers, in their absolute discretion, determine that a Business Proposal submitted by a Participant is offensive, defames or invades upon the publicity rights or privacy of any person or otherwise infringe any person or entity's intellectual property, personal or proprietary rights, industrial property rights or any other rights including, without limitation, copyright, trademark, patent, trade secret or confidentiality obligations or otherwise violates applicable law, such submission shall be rejected and such Participant will be disqualified.
7.8 Any Participant whose Business Proposal includes content and/or elements not owned by the Participant, such Participant, prior to becoming eligible to be declared a Prize Winner, must provide the Organisers with written legal releases (in a form satisfactory to the Organisers) dully executed by the owners of such content and/or elements, permitting and/or allowing and/or authorising the Participant and the Organisers to use and/or exploit such content and/or elements in accordance with these Official Rules for the purposes of the Competition (“Intellectual Property (IP) Releases”).
7.9 If a Participant changes his telephone number, email address, and/or street address (“Contact Details”) following submission of the Entry Form into the Competition, he has sole responsibility to notify the Organisers prior the expiration of the Competition Period and in any event not later than five (5) Business Days (as the term is defined below) from such change in his Contact Details.
- Grant of License
8.1 The Organisers will collect information from each Participant for the purposes of the Competition and may attempt to contact each Participant for such purpose. All materials and/or documents and/or information submitted in connection with this Competition, will not be returned. Participants acknowledge and agree that all entry materials and/or documents and/or information submitted in connection with this Competition are submitted on a confidential basis and, subject to applicable law, cannot be disclosed by the Organisers, their agents and, subsidiaries, and the Evaluation Committee, except if otherwise provided by these Official Rules.
8.2 All Competition submissions shall remain the property of the submitting Participant. By submitting a Business Proposal, the Participant acknowledges and agrees that the Organisers may obtain many entries in connection with this Competition and/or other competitions organised and/or promoted by the Organisers, and that such entries may be similar or identical in theme, idea, format, or other respects to other entries.
- Competition Entry Period
Eligible Participants may enter the Competition, as provided in these Official Rules, from 9 March 2015 until 5 April 2015 at 11:59 p.m. Cyprus time (the “Competition Entry Period”). Any Entry Forms submitted following expiration of the Competition Entry Period, shall not be accepted by the Organisers.
- Competition Period
The Competition begins on 9 March 2015 and ends on 28 April 2015 with the completion of the evaluation, decision and announcement of the best three winners (the “Competition Period”).
11.2 The Organisers reserve the right, in their absolute discretion, to disqualify at any time, any Participant from this Competition if such Participant violates and/or breaches these Official Rules and/or the applicable law or if, in the Organisers’ reasonable judgment, such Participant’s participation in the Competition, compromises the fairness of this Competition.
11.3 Participants are subject to disqualification at any time if the Organisers reasonably determine in their absolute discretion that allowing the Participants to participate in the Competition could bring the Organisers into public disrepute and/or in any way impact the good standing and/or reputation of the Organisers in the eyes of the general public.
- Competition Prize
12.1 All prizes will be awarded in the sole, absolute and subjective discretion of the Evaluation Committee. Three (3) Prizes (as the term defined below) will be awarded to three (3) Prize Winners (as the term is defined below) and will consist of:
(a) A first place Prize, including:
(i) Design and development of the website which will house the winner’s Business Proposal, by Qmmerce;
(ii) Installation and setup of an online store, by Qmmerce;
(iii) Hosting and support of the website and the online store for a year, by Qmmerce;
(iv) User training and support, by Qmmerce;
(The maximum value of (i) to (iv) above will be €5.000)
(v) Advertising of the business of the winner in StockWatch (www.stockwatch.com.cy) the maximum value of such advertisement being €5.000, offered by Stockwatch;
(vi) Business coaching, mentoring and feedback from members of the Evaluation Committee;
(vii) Presentation of the winner’s Business Proposal to one of the Company Presentation Events of CyBAN (Cyprus Business Angels Network) in front of businessmen and investors, offered by CyBAN
(viii) Free hosting for a month and 50% discount for an additional two months on Capital Impact powered by Cyta, providing a workplace with the necessary infrastructure, as well as mentoring and training from expert consultants and successful businessmen, offered by CyBAN
(b) A second place prize, including:
(i) A €600 voucher for electronic equipment from Cytashops, offered by Cyta
(ii) Free advertising banner placement on Stockwatch’s Newsletter for a month, offered by Stockwatch
(iii) Free hosting for a month and 50% discount for an additional two months on Capital Impact powered by Cyta, providing a workplace with the necessary infrastructure, as well as mentoring and training from expert consultants and successful businessmen, offered by CyBAN
(c) A third place prize, including:
(i) A €400 voucher for electronic equipment from Cytashops, offered by Cyta
(ii) Free hosting for a month and 50% discount for an additional two months on Capital Impact powered by Cyta, providing a workplace with the necessary infrastructure, as well as mentoring and training from expert consultants and successful businessmen, offered by CyBAN
(collectively the “Prizes” and each a “Prize")
The Prizes are not transferable and no cash alternative to the Prizes will be offered. In the event of a Prize being unavailable for any reason, the Organisers reserve the right to substitute any such Prize with other prizes of equal or greater value without prior notice to the Participants and/or Finalists and/or Price Winners.
- Evaluation and Selection Process
13.1 The Evaluation Committee will study the Entry Forms and Business Proposals submitted by the Participants and select six (6) Finalists. Criteria and/or factors to be taken into consideration by the Evaluation Committee during the Evaluation and Selection Process (as the term is hereby defined) shall include, inter alia, the originality of the Business Proposal and the accuracy of the strategy development and its forecasted viability. The Finalists will have to present their Business Proposal to the Evaluation Committee. Based on the Finalists’ presentations, the Evaluation Committee will decide and rank the three (3) Prize Winners.
13.2 In the event that the Organisers and/or their authorized agents are unable to contact the Finalists within three (3) Business Days following the first attempted notification, alternative Finalists may be chosen. For the purposes of these Official Rules a “Business Day” means a day (other than a Saturday or Sunday) on which banks are open for business in Cyprus.
- Prize Winners
Following the evaluation and selection process described in paragraph 13 hereinbefore, three (3) Participants will be selected and each will be awarded a Prize (“Prize Winners”).
- Notification of Prize Winners
15.1 The Prize Winners will be notified in person by the Evaluation Committee on the same day the presentations by the Finalists will take place. The Prize Winners acknowledge and agree that the Organisers shall not be liable and/or responsible for any costs, expenses, damages or injuries sustained by the Prize Winners in connection with accepting any Prize of this Competition.
15.2 The Prize Winners understand and agree that prior to awarding them their Prize, the Organisers may require them to provide true copies of Intellectual Property (IP) Releases (if applicable) and they may be required to sign an affidavit of eligibility and liability release as well as a publicity release (“Releases”), or any other documents. Failure of the Prize Winners to provide the Releases and/or any other documents requested by the Organisers, properly and duly executed within five (5) Business Days from the date on when such request is made by the Organisers, or if the Releases and/or any other documents requested by the Organisers are returned as undeliverable to the Organisers, will result in the disqualification of such Prize Winner. The Prize Winners understand and agree that the Organisers, at their absolute discretion, may request the Prize Winners to verify their identity, proof of age, and/or country of residence prior to awarding them the Prizes.
15.3 In the event that any of the Prize Winners are disqualified from the Competition for any reason whatsoever, the Organisers will select alternative Prize Winners from the remaining Finalists. Such selection and notification shall be subject to and made in accordance with these Official Rules.
- Release and Publicity
Each Participant hereby consents and unconditionally agrees (as a condition of being awarded and accepting any Prize) to the use of his or her name, business name and address by the Organisers for advertising, marketing and/or for sales promotional purposes, without any attribution, identification, right of review or compensation, except where prohibited by applicable law.
- Limitations and Exclusions of Liability
17.1 Nothing in the Official Rules shall operate to exclude or limit the Organisers’, the Evaluation Committee’s, the Participants’, the Finalists’, the Prize Winners’ and any other individual’s or party’s liability (“Parties” and each a “Party”) for
(i) death or personal injury arising out of any Party’s negligence,
(ii) fraud or fraudulent misrepresentation committed by any Party,
(iii) breach of the Official Rules by any Party; or
(iv) any other liability that cannot be excluded or limited under applicable law.
17.2 Subject to the provisions of paragraph 17.1 hereinbefore, in no event shall the Organisers, their affiliates and service providers, successors, or any of their respective agencies, joint venturers, officers, directors, employees or representatives, be liable for incidental or consequential damages and/or losses arising out of or in connection with the Competition, or these Official Rules (however arising, including, inter alia, negligence). If any dispute arises between Participants or any Participant and any other third party, the Participants shall and hereby release, to the full extent permitted by applicable law, the Organisers, their affiliates and service providers, successors, and each of their respective agencies joint venturers, officers, directors, employees and representatives from any and all claims, demands, liabilities, responsibilities, damages (actual and consequential), costs, expenses and any other losses of any kind and nature whatsoever arising out of or in any way connected with such disputes.
18.1 Participants agree and undertake to fully indemnify and hold the Organisers, their affiliates and service providers, successors and each of their respective agencies, joint venturers, officers, directors, employees and representatives, harmless from any claim or demand (including legal fees and any fines, fees or penalties imposed by any regulatory authority), liability, responsibility, damages (actual and consequential), costs, expenses and any other loss of any king and nature whatsoever arising out of or in any way related to
(i) any Participant’s breach of these Official Rules,
(ii) any Participant’s use of the Organisers’ or the Competition’s website and/or participation in the Competition and/or submission of the Entry Form and/or the Business Proposal, or
(iii) any Participant’s violation of any law, rule or regulation, or the rights of any third party.
If at any time any provision of the Official Rules is or becomes illegal, invalid or unenforceable in any respect under the laws of any jurisdiction, such illegality, invalidity or unenforceability of such provision shall not affect the legality, validity or enforceability in that jurisdiction of any other provision of these Official Rules, nor the legality, validity or enforceability of these Official Rules (including the provision in question) in any other jurisdiction.
- Representations and Warranties
20.1 Each Participant represents and warrants that:
a. he is the original author of any and all materials submitted for the purposes of the Competition. Provided that in the event where the Business Proposal includes content and/or elements not owned by the Participant, the Participant represents and warrants that the owner of such rights has expressly granted any and all rights to the Participant through the execution of the Intellectual Property (IP) Releases;
b. he will not infringe on any third party's copyright, patent, trademark, trade secret or other proprietary rights or rights of publicity or privacy of any third party. Participants are prohibited from posting, uploading, or otherwise sending to the Organisers any materials that infringe on any copyright, trademark or proprietary rights of any other person;
c. the Business Proposal submitted is not the subject of any actual or threatened litigation or claim;
d. the Business Proposal is not obscene, offensive, libelous, pornographic, threatening, abusive, does not contain illegal content or is otherwise objectionable, constituting or encouraging a criminal offense, or that would otherwise give rise to liability or violate any laws; and
e. he will only submit ideas and content for himself and will not share content or ideas with other Participants.
20.2 The Participants acknowledge and accept that nothing herein shall constitute an employment, joint venture, or partnership relationship between the Participant and the Organisers and/or the Evaluation Committee.
- Privacy, Data Protection and Intellectual Property
21.1 The Organisers collect personal information in order to conduct the Competition and may, for this purpose and subject to applicable law, disclose such information to third parties, including, but not limited to, the Evaluation Committee and the suppliers of the Prizes. The Participants hereby consent to the Organisers disclosing such information, as necessary, to third parties, including, but not limited to, the Evaluation Committee, the suppliers of the Prizes and to any other party which the Organisers deem necessary for the purposes of the Competition. Participants should direct any request to opt out, access, update or correct their information to the Organisers.
21.2 By participating in the Competition, each Participant acknowledges and accepts that his personal and commercial data shall be made available to, inter alia, the Organisers and/or the Evaluation Committee and/or the suppliers of the Prizes and any other party which the Organisers deem necessary for the purposes of the Competition. Information and data concerning each Participant (such as full name, email address and telephone number) are required by the Organisers in order to organize and announce the Prize Winners of the Competition to the Participants. These data and information are also stored for security purposes. Under the Cyprus Data Protection Law of 2001, as amended, each Participant has the right to access and modify the information and personal data concerning that Participant that has been collected by the Organisers, and a right of opposition so that the information and personal data collected in relation to that Participant is not subject to commercial prospecting or processing. Lastly, each Participant accepts that the Organisers may, in accordance with applicable law, collect personal data with regard to legal proceedings (legal requisitions etc.).
21.3 Each Participant hereby confirms that he owns and has the right to licence to the Organisers the copyright and other intellectual property rights of the Business Proposal submitted for the purposes of this Competition and/or for any other purpose referred to in these Official Rules. The Participants will retain ownership of the copyright and other intellectual property rights of the Business Proposal submitted. Each Participant shall and hereby grants to the Organisers and/or any third party authorised by the Organisers for this purpose, an irrevocable license to use, publish, display, transmit and store the Business Proposal for such promotional purposes as the Organisers deem necessary as well as for the purposes of the Competition.
The Organisers reserve the right to cancel the Competition. In case of cancellation of the Competition, all Participants will be informed. The cancellation of the Competition can happen at any time and shall not give any right to indemnification of any Participant.
- Disputes/Governing Law
23.1 Each Participant agrees that, except where applicable law provides otherwise:
(a) in the event where disputes, claims and causes of action arise out of or in connection with this Competition, or in connection with any Prizes awarded, the Participants involved in such disputes, claims and causes of action undertake that they shall exercise their best endeavours and negotiate in good faith in order to resolve amicably any disputes, claims and causes of action within a period of ten (10) Business Days from the date on which such disputes, claims and causes of action arose, without resorting to any form of legal action. The Participants agree that any claims against the Organisers arising out of or in connection with the Competition or these Official Rules must be raised not later than one (1) year from the date such claim arose. The Organisers shall have no obligation to accept any claims that are not raised within the foregoing time period and failure of the Participants to raise any claim within the foregoing time period, will result in the claim becoming permanently barred and/or prohibited.
(b) In the absence of an amicable resolution of a dispute, within the ten (10) Business Days stipulated herein before, the Participants involved shall have the right to resort to judicial proceedings. Any judicial proceeding arising out of or concerning the Competition shall be subject to the exclusive jurisdiction of the Cyprus courts;
(c) any and all claims, judgments and awards shall be, subject to paragraph 17 above, limited to actual out-of-pocket costs and/or expenses incurred, including costs and/or expenses associated with entering this Competition, but in no event legal fees and/or any other fees and/or losses and/or damages that any individual sustains arising out of or in connection with this Competition; and
(d) subject to paragraph 17 above, under no circumstances will any Participant be entitled to punitive, incidental, and/or consequential damages, and all Participants hereby waive all rights to claim, punitive, incidental, and consequential damages, and any other damages in relation to any dispute arising out of or in connection with the Competition, other than actual out-of-pocket costs and/or expenses, and any and all rights to have damages multiplied or otherwise increased.
23.2 All disputes arising out of, concerning or connected to the Competition or the interpretation, validity, enforceability or interpretation of these Official Rules shall be governed by and interpreted in accordance with the laws of the Republic of Cyprus.
23.3 For dispute resolution you may contact the Organisers at 167 Kantaras Avenue, 2046 Strovolos, Nicosia, Cyprus; or 10 Costis Palamas Street, Suite 101, 6016 Larnaca, Cyprus.
- Competition Results and Official Rules
To obtain the identity of the Prize Winners (within 3 months of the end of the Competition) and/or a copy of these Official Rules (prior to the end of the Competition), a) visit www.empower.com.cy, or b) send an email to email@example.com with the subject “Empowering eEntrepreneurship Competition - Winner List Request”.
2016 EMPOWERING eENTREPRENEURSHIP COMPETITION