The Continuum Spark Award
Terms and Conditions
Updated July 2023
These terms and conditions govern the competition for The Continuum Spark Award of $250,000 (hereinafter referred to as the "Competition"). By participating in the Competition, all participants (hereinafter referred to as "Participants") agree to be bound by these terms and conditions.
Eligibility:
The Competition is open to startups worldwide.
Participants must be 18 years of age or older at the time of entry.
Participants must have a legally registered startup company or be in the process of registering one.
Participants must comply with all applicable laws and regulations in their respective jurisdictions.
Entry Requirements:
Participants must complete the official entry form provided by the Competition organizers.
Participants must provide accurate and truthful information about their startup, including business concepts, objectives, and plans for utilizing the award funds.
Entries must be submitted within the specified entry period.
Only one entry per startup is allowed.
Judging and Selection of Winners:
A panel of expert judges will evaluate the entries based on predetermined criteria, including innovation, market potential, scalability, and feasibility.
The judges' decision will be final and binding in all matters related to the Competition
Winners will be announced at the GMW Doha on the 17th of November 2023. This is subject to change at the discretion of the judging panel
Award:
The startup selected as the winner will receive a cash prize of $100,000
The first, second and third places will receive $50,000 worth of Brand development package and Consulting & Mentoring for 3 months, which will be fulfilled through an in-house shared service provider.
The award funds are intended to be used for the development and growth of the winning startup.
The award is non-transferable and cannot be exchanged for cash or any other form of compensation.
Equity
For-Profit Startups:
If the winning startup is a for-profit entity, the organizers may require equity in the company in exchange for the award funds.
The amount of equity required will be calculated based on the valuation of the for-profit organization.
The equity percentage required will be determined through negotiations between the winning startup and the organizers, before the awarding of a final 7 place.
Both parties will strive to reach a mutually beneficial agreement regarding the equity exchange, taking into consideration the startup's valuation, financial needs, and the value of the award funds.
Non-Profit Startups:
If the winning startup is a registered non-profit entity, the organizers may require an equity-like arrangement or membership commitment.
The specific requirements will be determined through discussions between the winning non-profit startup and the organizers.
The organizers and the non-profit startup will work together to establish a suitable arrangement that aligns with the goals of the organization and the purpose of the award.
Intellectual Property:
Participants retain all rights to their intellectual property, including patents, trademarks, and copyrights.
By participating in the Competition, Participants grant the organizers a non-exclusive, worldwide, royalty-free license to use the startup's name, logo, and related materials for promotional purposes.
Publicity and Promotion:
Winners may be required to participate in publicity activities, including media interviews and public announcements.
The organizers reserve the right to publish the names and profiles of the winners on their website, social media platforms, or any other promotional materials.
Liability:
The organizers and their affiliates shall not be held responsible for any loss, damage, or injury arising from or in connection with the Competition, including but not limited to technical failures, errors, or delays.
Participants are responsible for any taxes or additional expenses incurred as a result of receiving the award.
Disqualification:
The organizers reserve the right to disqualify any Participant found to have violated these terms and conditions or engaged in fraudulent or unethical conduct.
Modification or Termination:
The organizers reserve the right to modify, suspend, or terminate the Competition at any time and for any reason without prior notice.
Governing Law and Jurisdiction:
These terms and conditions shall be governed by and construed in accordance with the laws of United Kingdom.
Any disputes arising from or in connection with the Competition shall be subject to the exclusive jurisdiction of the courts of United Kingdom.
By participating in the Competition, Participants acknowledge that they have read, understood, and agreed to abide by these terms and conditions.