Information on how to apply to the Stockland Accelerator Program (the “Program”) and awards made to successful applicants forms part of these terms and conditions. By applying, applicants agree to be bound by these terms and conditions with the Program Parties. Applications must comply with these terms and conditions to be valid.
- The accelerator is BlueChilli Technology Pty Ltd (ABN 50 122 406 731) of Level 1, 125 York Street, Sydney NSW 2000 (“BlueChilli” or the “Accelerator”).
- The program partner is Stockland Development Pty Ltd (ABN 71 000 064 835) of Level 25, 133 Castlereagh Street Sydney 2000, Australia (the “Program Partner”), who will participate either in the Program Partner’s own right or through an affiliate of the Program Partner, such as a subsidiary, holding company or related body corporate (each such affiliate, a “Related Entity”).
BlueChilli has been engaged by the Program Partner to run the Program in accordance with an agreement between the Program Partner and BlueChilli.
- Applications are open to Australian and New Zealand residents who are 18 years or older (“Eligible Applicants”). Applications can be made by individuals or teams of Eligible Applicants where the main applicant is an Eligible Applicant. All team members must be listed in the application – team applicants cannot nominate a person who is not named on the application to participate in the Bootcamp (as defined below).
- The Application Period is the period commencing at 06:00 AEST on 25 September 2018, and ending at 11:59pm AEDT on 22 October 2018 (“Closing Date”). The Accelerator accepts no responsibility for late, lost or misdirected applications. Incomplete, ineligible or incomprehensible applications will be deemed invalid. Applications must be submitted in the manner required and received by the Accelerator during the Application Period. Late applications will not be accepted.
- To apply to the Program, Eligible Applicants must complete an application form by visiting www.stocklandaccelerator.com (“Program Website”) during the Application Period and following the links to apply.
- Applications will be completed on the BlueChilli application portal. Eligible Applicants may start, save and submit an application during the Application Period. Eligible Applicants are able to update their application any time prior to the Closing Date.
- There is no limit on the number of applications a person may submit and Eligible Applicants are permitted to submit an application that has previously been submitted to BlueChilli.
- Applications will be screened and assessed by a judging panel consisting of representatives from the Accelerator who will provide a shortlist of recommendations to the Program Partner for approval.
- Up to 40 Eligible Applicants will be awarded a placement in the Bootcamp (as defined below) and will be known as Finalists.
- Applications must meet the brief described on the Program Website, comply with these terms and conditions and will be scored in terms of:
- Problem-solution fit
- Market opportunity including commercial viability, innovation, scalability, defensibility and
- Feasibility and viability of the technology required
- Social, environmental and community impact
- Team including the Applicant’s domain knowledge and experience
- The Finalists will be notified via email by 29 October 2018, and must respond in writing to accept the Finalist Award (as defined below) within 48 hours.
- As part of the screening and assessment process, the Accelerator and Program Partner will consider if each Finalist (including its team members, if relevant) is: (1) involved in alleged corruption or fraud or similar offences; (2) has a close relationship to government, particularly where there is an opportunity to influence the government; (3) makes any unusual requests for payment; or (4) may have a negative impact on the Program Partner’s reputation. Any application that contains content that the Accelerator, in its sole discretion, considers to be offensive or inappropriate in any way or that the Accelerator considers, in its sole discretion, to infringe any intellectual property rights or other rights of any person, corporation or entity, will be considered ineligible. The decision to accept or reject an application is at the Accelerator’s sole discretion and no correspondence will be entered into.
- Finalists will participate in a startup validation Bootcamp held on various days (see below) during the period from 12 November 2018 to 27 November 2018 run by BlueChilli and mentors in the Program (“Bootcamp”). Attendance by Finalists at activities during the Bootcamp is mandatory unless otherwise stated. The first week of the Bootcamp will be hosted in Sydney on 12 November 2018 and 13 November 2018, and Finalists are required to travel to Sydney to attend in person. The second week of the Bootcamp can be completed remotely or attended in person in BlueChilli’s Sydney, Melbourne or Brisbane offices, and Finalists are free to choose which office they attend for these activities.
- During the Bootcamp, the Finalists will work with BlueChilli to refine and develop their ideas. Bootcamp consists of approximately 6 contact hours (2 x 2 hour group sessions and 3 x 30 minute 1:1 sessions) and Finalists will need to allocate approximately 10 hours per week to follow up with validation tasks after the sessions. Attendance at the Bootcamp is mandatory to be considered for the next phase of the Program outlined below.
- From 26 November 2018 to 27 November 2018, the Finalists will pitch their refined ideas to a judging panel consisting of representatives of both the Accelerator and the Program Partner (“Panel”) to determine those Finalists who will progress to the next phase of the Program and become Program Startups. Each Finalist will be assessed by the Panel at the Panel’s absolute discretion, according to the growth potential of the opportunity and the ability of the founder/team to successfully execute the solution, in each case as determined by the Panel.
- Up to 15 Program Startups may be selected by the Panel. The Panel’s decision is final and no correspondence will be entered into.
- The selected Program Startups will be announced at a selection showcase on the evening of 28 November 2018 in Sydney.
- The Accelerator will provide a total travel stipend of AUD$500 to Finalists who are required to travel to the pitching and showcase events forming part of the Bootcamp from outside the greater Sydney Area.
- The award for Finalists (Finalist Award) (up to 40 available) consists of the following:
- Placement in the Bootcamp where Finalists are guided through the process of validating their idea and preparing for the pitching days. This Bootcamp includes access to expert entrepreneurs-in-residence, product managers, engineers and knowledgeable mentors from the BlueChilli startup community.
- Promotion and exposure via the Stockland Accelerator Program webpage and BlueChilli webpages (including the Program Website), social media and other channels as facilitated by the Accelerator in consultation with the Program Partner.
- The opportunity to pitch the refined idea to the Panel during the pitching days on 26 November 2018 and 27 November 2018. The pitching days will determine up to 15 Program Startups, who will be announced on 27 November 2018.
- For Australian residents, to receive the AUD$38,000 equity investment as outlined in Section 22, Finalists must incorporate their business as a registered limited liability company in Australia. Under the Australian Corporations Act 2001 (201A), a registered company must have a director who ordinarily resides in Australia – applicants who do not have such an Australian resident are eligible to apply to the Program, but may be ineligible for equity investment.
- For New Zealand residents, to receive the AUD$38,000 equity investment as outlined in Section 22, Finalists must incorporate their business as a registered limited liability company in New Zealand. Under the New Zealand Companies Act 1993, a registered company must have a director who ordinarily resides in New Zealand – applicants who do not have such a New Zealand resident are eligible to apply to the Program, but may be ineligible for equity investment.
- In exchange for 15% equity, the award for the selected Program Startups (Program Startup Award) (up to 15 available) consists of the following:
- For 5%, AUD$38,000 equity investment provided by BlueChilli Venture Fund or its nominees to the winner for the purpose of developing and growing the business based on the idea, subject to the further conditions set out below (“Equity Investment”).
- For 10% equity to BlueChilli or its nominees, full placement in the Program for six months, including weekly workshops, talks and office hours with entrepreneurs-in-residence, regular mentor contact and a structured program designed to facilitate the success of the business.
- A technology team to build the Program Startup minimum viable product (MVP), including an assigned product manager.
- Strategic support, insights and advice from the Accelerator.
- Additional promotion and exposure via the Stockland Accelerator webpage, social media and other channels as facilitated by the Accelerator.
- Six months co-working space in Sydney, Melbourne, or Brisbane to complete the Program.
- To be eligible to receive the Program Startup Award including full placement in the Program and the Equity Investment, Program Startups must:
- Incorporate their business during the program period as a registered limited liability company as per Sections 20 and 21;
- Complete and enter into binding legal and other documentation in the format prepared by and required by BlueChilli or its nominee(s) including but not limited to subscription agreement, shareholders agreement, company constitution (based on a default template), and fund option deeds, which will all be provided to Finalists at commencement of the Bootcamp. Such documentation may be subject to further conditions precedent including satisfactory completion of due diligence.
- Allocate 15% of the equity on a fully diluted basis in the incorporated company to BlueChilli or its nominee(s).
- The Program Partner will have a right of first offer to provide capital investment to all Program Startups of its choice (“ROFO”). This ROFO will expire 180 days after the investor showcase at the conclusion of the Program in July 2019. Program Startups will also be restricted to negotiating with the Program Partner and its representatives for investment during the term of the Program.
- BlueChilli works with venture funds including the BlueChilli Venture Fund and Hatcher Plus who may invest up to AUD$250,000 and up to USD$200,000 respectively in follow-on funding in one or more Program Startups. To be eligible to apply for follow-on funding, Program Startups must complete the Program and have raised at least AUD$100,000 from at least three independent investors. The relevant fund will invest at the same valuation set by the three independent investors. Any such investment is subject to the decision of the investment committees who will determine if the investment is to go ahead and how much to invest in their absolute discretion.
- The Finalist Award and Program Startup Award (each, an “Award”) must be taken as offered and cannot be varied. Awards are not transferable or exchangeable and cannot be taken as cash outside the relevant investee company. Any change in the value of an Award between the publishing date and the date the Award is claimed is not the responsibility of the Accelerator or the Program Partner. None of the Accelerator, the Program Partner or the Program Partner’s Related Entities accepts any responsibility for any tax implications that may arise from the Awards. Independent legal, financial and tax advice should be sought.
- No compensation will be payable if a Finalist or Program Startup (or their companions if applicable) is unable to use any element of an Award for whatever reason. Any part of an Award that is not taken for any reason is forfeited and will not be substituted. Placement at the Bootcamp and Program (as applicable) must be taken on the dates nominated by the Accelerator otherwise the entire placement is forfeited. No extension or variation of the placement dates will be permitted. All components of the Bootcamp and Program (as applicable) must be taken together. Any element of the Bootcamp (or the Program as applicable) not taken will be forfeited and not substituted.
OWNERSHIP OF INTELLECTUAL PROPERTY
- All applications and any intellectual property rights subsisting in the applications remain at all times the property of the applicants.
- Applicants warrant that they own or have the right to use the intellectual property as set out in their applications.
RIGHT TO VERIFY
- The Accelerator reserves the right to verify the validity of applications and reserves the right to disqualify any applicant for tampering with the application process or for submitting an application which is not in accordance with these terms and conditions, or if the applicant is engaged in any unlawful or other improper misconduct calculated to jeopardise the fair and proper conduct of the promotion. The Accelerator’s, the Program Partner’s and the Program Partner’s Related Entities’ legal and other rights to recover damages or other compensation from such an offender are reserved.
- Applicants must only enter in their own name. The Accelerator reserves the right to request the successful Finalists and Program Startups to produce (within a nominated time period) appropriate photo identification or other documentation (to the Accelerator’s satisfaction, at its sole discretion) in order to confirm their identity, age, residency and/or eligibility to enter and/or claim an Award and any information submitted by the applicant in entering the Program before issuing an Award. If the documentation required by the Accelerator is not received by the Accelerator (or its nominated agent) or the applicant has not been verified or validated to the Accelerator’s satisfaction within the time requested, that applicant’s application will become invalid. Proof of identification, residency and application considered suitable for verification is at the sole discretion of the Accelerator. An Award will only be awarded following any validation and verification of the applicant that the Accelerator requires in its sole discretion. In the event that an applicant cannot provide suitable proof, the relevant Award will be forfeited and no substitute will be offered as the applicant will be disqualified.
CONFIDENTIALITY & PRIVACY
- The Accelerator acknowledges that the application is confidential. The Accelerator, it’s associated entities, the Program Partner and advisors will have access to the Application for the purpose of validating and judging the application. The Accelerator may refer application information to entities associated with the Accelerator including venture capital entities, investors, the Program Partner, and Government agencies and third parties who may wish to independently explore commercial or other opportunities with Finalists and Program Startups.
- As a condition of applying to the Program, applicants consent to the Accelerator, the Program Partner and the Program Partner’s Related Entities using the applicant’s, name, likeness, image and/or voice (including photograph, film and/or recording of the same) and general descriptions of the application in any media for an unlimited period of time without remuneration or compensation for the purpose of promoting, publicising or marketing this promotion (including any outcome), and promoting any products or services manufactured, distributed and/or supplied by the Accelerator, the Program Partner or the Program Partner’s Related Entities. The selected Program Startups agree to participate in all reasonable promoted activities in relation to this promotion as requested by the Accelerator and its agents that occurs during the course of the Program.
- Except for any liability that cannot be excluded by law (in which case that liability is limited to the minimum allowable by law), each of the Accelerator, the Program Partner and the Program Partner’s Related Entities (including their respective officers, directors, employees, agents and representatives) excludes all liability (including negligence), for any personal injury or any loss or damage (including loss of opportunity), whether direct, indirect, special or consequential, arising in any way out of the Program, including, but not limited to, where arising out of the following: (a) any technical difficulties or equipment malfunction (whether or not under the Accelerator’s, the Program Partner’s or the Program Partner’s Related Entity’s control); (b) any theft, unauthorised access or third party interference; (c) any application or Award claim that is late, lost, altered, damaged or misdirected (whether or not after their receipt by the Accelerator) for any reason beyond the reasonable control of the Accelerator; (d) any variation in Award value to that stated in these terms and conditions; (e) any tax liability incurred by an applicant, Finalist, Program Startup or any other party; or (f) use of an Award.
- If the Program is interfered with in any way or is not capable of being conducted as reasonably anticipated for any reason beyond the reasonable control of the Accelerator including because of war, terrorism, state of emergency or disaster (including natural disaster), infection by computer virus, bugs, tampering, unauthorised intervention, technical failures or any which corrupt or affect the administration, security, fairness, integrity or proper conduct of this promotion, the Accelerator reserves the right, in its sole discretion, to the fullest extent permitted by law (a) to disqualify any applicant; or (b) subject to any written directions from a regulatory authority, to modify, suspend, terminate or cancel the Program, as appropriate.
- None of Accelerator and its associated agencies and companies, the Program Partner nor the Program Partner’s Related Entities (including their respective officers, directors, employees, agents and representatives) are responsible for any problems, delays or technical malfunction of any telephone or network or lines, servers or providers, computer equipment, software, technical problems or traffic congestion on a network or a mobile network or any combination thereof, or any other technical failures including any damage to applicant’s or any other person’s mobile handset, computer or peripherals related to, or resulting from, participation in this promotion or the downloading of any materials related to this promotion.
- Any attempt to deliberately undermine the legitimate operation of this promotion may be a violation of criminal and civil laws and should such an attempt be made, whether successful or not, the Accelerator, the Program Partner and the Program Partner’s Related Entities reserve the right to seek damages to the fullest extent permitted by law. If the Accelerator, the Program Partner or a Related Entity of the Program Partner (including their respective officers, directors, employees, agents and representatives) suffers loss or incurs any costs in connection with any breach of these terms and conditions or any other legal obligation by an applicant, the applicant agrees to indemnify on demand the Accelerator, the Program Partner and the Program Partner’s Related Entities (including their respective officers, directors, employees, agents and representatives) for those losses, damages and costs.
- Notwithstanding anything else in these terms and conditions, nothing in these terms and conditions or the Program should be construed as a representation, warranty or guarantee from the Accelerator, the Program Partner or the Program Partner’s Related Entities that an applicant will be selected to participate in the Program and/or receive any Award or investment, which will at all times be at the absolute discretion of the Accelerator and/or the Panel (as applicable) and subject to these terms and conditions.
- Failure by the Accelerator, the Program Partner or a Related Entity of the Program Partner to enforce any of its rights at any stage does not constitute a waiver of these rights.