Terms and Conditions of the Competition

By registering to participate in the Melbourne University Entrepreneurs Challenge (The Challenge), each competitor (Competitor) in your team (Team) as nominated on the Team Registration Form, agrees to be bound by the following Terms and Conditions (as amended from time to time):

1. Interpretation

1.1 The Melbourne University Entrepreneurs Challenge (MUEC)

MUEC is an initiative of Melbourne Business School Entrepreneurship Club (MBSEC), a Melbourne Business School student run association.

1.2 Organising Committee

The Organising Committee is comprised of students and alumni of Melbourne University and Melbourne Business School, and is responsible for the general day-to-day management of MUEC.

1.3 Judges

The Judges are individuals selected by the Organising Committee to be members of the various panels that are responsible for assessing the business concept summaries, business plans and verbal pitches.

1.4 Mentors

The Mentors are individuals approved by the Organising Committee to provide assistance to Competitors and Teams, if requested, in relation to the preparation of business plans and/or verbal pitches.

1.5 Sponsors

The key sponsor is:

  • The Melbourne Business School

The Challenge is also sponsored by other organizations, as acknowledged on the Melbourne University Entrepreneurs Challenge website at www.muec.mbsec.org.

1.6 Defined Terms

Any terms defined in the Guidelines for Entry have the same meaning in the Terms and Conditions of Entry.

2. Entry

2.1 Mode of Entry

To enter the Challenge, a Team must register by submitting a Team Registration Form and a Business Concept Summary via email to muec@mbsec.org .

2.2 Correspondence

Any correspondence from the Organising Committee to a Team will be directed by email, or other such means as the Organising Committee chooses, to the Primary Contact Person listed on the Team Registration form.

2.3 Contacting the Organising Committee

The Organising Committee can be contacted as follows:
Post: MUEC Organising Committee, 200 Leicester Street, Carlton Victoria 3053 Australia
Email: muec@mbsec.org

2.4 Eligibility

Teams must comply with the following requirements to be eligible for entry into and continued participation in the Challenge:

  1. A Team must include at least one past or present student of a Victorian university.
  2. A Team must consist of at least two and not greater than six members.
  3. A Team cannot submit business ideas that have received outside funding from private investors, venture capital firms, or other industry sources. A scholarship/ government grant will not be regarded as funding for the purposes of this paragraph.
  4. You may not be a Competitor if you are:
    1. a member of the Organising Committee;
    2. a Judge;
    3. a Mentor;
    4. an employee or member of a Sponsor (except staff of the University of Melbourne or Melbourne Business School).
  5. Participation in the ‘Elevator Pitch’ round is mandatory.
  6. If at any time during the Challenge, a Team or Competitor fails to meet the eligibility requirements as per 2.4, that Team or Competitor will be disqualified.

2.5 Changes to Team Composition

a. You can remove or appoint members of your Team at any time up to the Business Plan submission date, provided the eligibility requirements stipulated at 2.4 remain fulfilled.

b. You must submit any proposal to remove or appoint Team members in writing to the Organising Committee. Your proposal must state that any proposed new Team member agrees to be bound by these Terms and Conditions as amended from time to time.

c. Your proposal to remove or appoint a Team member must receive approval from the Organising Committee to be effective. Approval is at the discretion of the Organising Committee.

d. The Organising Committee will communicate the outcome of your proposal to your Team in accordance with clause 2.2 above within 7 days of receiving your proposal.

2.6 Withdrawal of a Team from The Challenge

A Team may withdraw from The Challenge at any time, provided that notice is addressed to the Organising Team in writing, and signed by the Primary Contact Person and one other member of the Team.

2.7 Originality

a. The idea that forms the basis of your Team’s Executive Summary must originate from one or more of the members of your Team as nominated on the Registration Form or appointed in accordance with clause 2.5;  OR

b. If an idea has been patented by, or is the property of a third party, the originator of the idea must agree in writing to the use of the idea by your team and must be expressly credited in your Business Concept Summary, Business Plan and verbal pitches.

2.8 Media Exposure

It is a condition of entry that the Teams who have progressed to the final round will make themselves available to the Organising Committee or Melbourne Business School Marketing and Communications Office for interview at reasonable request.

3. Assistance

Your Team will be entitled to use the services of Mentors that have been arranged by the Organising Committee. The Organising Committee will endeavour to ensure there are sufficient Mentors available for all Teams, but cannot guarantee that this will be the case.

4. Prizes and Decisions

4.1 Main Prizes

Grand Prize: $6,000 in cash, plus other in-kind services.

Social Entrepreneurship Prize: $6,000 in cash, plus other in-kind services.

4.2 Additional Prizes

The Organising Committee may, at its discretion, award additional prizes to any other Teams. The winner of any additional prizes will be determined by the Judges.

4.4 Variation in Prizes

The Organising Committee may, at any time, and without notification to any person, vary any of the prizes. However, the value of the overall winner prize will be equal to the amount stipulated in clause 4.1.

4.5 Date and Notification of Decision

The names of the Teams to receive a prize under clauses 4.1 and 4.2 will be announced at the Awards Ceremony on 9th May 2010.

4.6 Finality of Decision

The decisions of the Judges will be final. No communication will be entered into with any person in relation to any decision of the Judges.

5. Intellectual Property

5.1 Technical Details

If a Business Concept Summary or verbal pitch relies substantially on any copyright or neighbouring rights, any rights conferred by statute, common law or equity or in relation to inventions (including patents), registered or unregistered trademarks, registered or unregistered designs, circuit layouts or confidential information or any other rights resulting from intellectual activity in the industrial, scientific, literary or artistic fields (Intellectual Property), it may not be necessary for the purposes of The Challenge to specify all of the technical details of that Intellectual Property. The Business Concept Summary and verbal pitch are intended to outline an idea and the prospective market and financing and marketing details for that idea.

5.2 Confidentiality Deed

The Organising Committee, Judges, and Mentors will enter into a Non Disclosure Agreement, which will prohibit the Organising Committee, Judges, and Mentors disclosing or using any details of the Business Concept Summary, verbal pitches or other information submitted by Teams in connection with The Challenge, except:

  1. In their capacity as Judge and/or Mentor; or
  2. Unless otherwise instructed in writing by the Team concerned.

Melbourne Business School Entrepreneurship Club will enter into these confidentiality deeds as an agent of each Team, but only for the purpose of creating an obligation that may be enforced by the Team against the Organising Committee, Judges and Mentors. Melbourne Business School Entrepreneurship Club does not accept responsibility for the performance of any Judge, Mentor or member of the Organising Committee of their obligations under the confidentiality deeds, and does not assume any other obligations or liabilities as an agent for each Team, or in any other capacity.

5.3 General Protection

The protection of intellectual property (other than from the Organising Committee, Judges and Mentors in their capacity as such) is the responsibility of the Team.

Teams are also responsible for determining the division of intellectual property ownership between competitors.

5.4 Staff and Students

University of Melbourne staff and students are subject to the University’s Intellectual Property policy. Among other things, this policy states that:

  1. The University asserts common law ownership, either whole or partial, of all intellectual property arising from the work within its departments, institutes, centres or research groups.
  2. The University owns wholly all intellectual property deriving from research, design, scholarship, teaching, administrative or other activity undertaken by its staff within the course of their employment.
  3. If no employment relationship exists between the University and a student, the student owns his/her intellectual property.
  4. Staff or students who propose commercially to develop their intellectual property outside the University are encouraged to inform the University of their intentions, and to obtain a statement from the University that it does not claim an interest in the property, before they seek outside development.

For a full version of the University of Melbourne Intellectual Property Policy, please contact the University.

Entrants should ensure no breach of this policy before entering the Challenge.

6. Disclaimer of Liability

None of the Organising Committee, Judges, Mentors and Sponsors or any employee or agent of the Sponsors will be liable to Competitors and Teams for:

  1. Any costs incurred or loss or liability suffered by Competitors or Teams in relation to the Challenge;
  2. Any lost expectations of profits by Competitors or Teams;
  3. Any failure by Competitors or Teams to understand rights in relation to Intellectual Property, or rights of the Organising Committee, the Sponsors, or any third party in relation to Intellectual Property; or
  4. Any other benefit that Competitors or Teams expect to gain by participating in the Challenge.

7. General

7.1 Change of Terms and Conditions

The Organising Committee may change these Terms and Conditions at any time, without providing specific or advance notice. The amended Terms and Conditions will be effective immediately upon being posted on the website for the Challenge located at www.muec.mbsec.org .

7.2 Taxes

Participants will be responsible for any taxes, duties, charges or levies to be paid to any person in connection with any money (including any prizes) paid or received by them in connection with the Challenge.

7.3 Termination

The Organising Committee may at any time and for any reason:

  1. Disqualify you or your Team from the Challenge if the Organising Committee, in its absolute discretion, determines that such disqualification is warranted; or
  2. May discontinue the Challenge and associated events by posting a notice to that effect on the website located at www.muec.mbsec.org .

7.4 Situations not covered by these Terms and Conditions

The Organising Committee reserves the right to determine any situations not covered by these Terms and Conditions on a case by case basis. The decision will be final, and no communication will be entered into in regard to the decision of the Organising Committee.