Rules and Legal Issues
RULES AND LEGAL ISSUES
The following rules are binding throughout the entire duration of the 2019 Baiada Institute Incubator Competition (2019BIIC). Participating in the 2019BIIC indicates that teams accept these rules and regulations and agree to abide by them. The Baiada Institute reserves the right to disqualify any team and/or team member they believe are not abiding by the rules of the 2019BIIC.
A team must be led by an undergraduate student, graduate degree-candidate student, or recent graduate (graduated no earlier than June 2017) of Drexel University.
The team lead must have played a significant role in conceiving the venture, hold a key management role in the venture, be actively involved in the business venture, and be the primary presenter for the formal presentations.
Teams are permitted to have members who are not students at Drexel University, but the team lead and the competition presenter must be a co-founder. We define co-founder as someone who is the designated CEO, COO or CTO and/or owns at least 25% of the company (if equity has been allocated). Teams who bring on Drexel students solely for purposes of the competition will be denied entry. The Baiada Institute reserves the right to deny any team based on concerns about its ownership.
All correspondence during the competition must be through the team lead.
There is no limit to the maximum or minimum number of people on each team.
An individual may participate on more than one team but can only be the team lead on one team.
Teams and their venture must not have been a top-three finalist in any prior Baiada Institute Incubator Competition. Other competition finalists can compete.
All submitted materials must be the original work of the team.
Owning the rights to any intellectual property related to your company’s business is a requirement for participating in the competition.
If selected as a finalist, the team lead must be available in-person on campus for the final round presentations and judging.
A team is not eligible if it has received $50,000 or more or has earned $75,000 or more in gross revenue before the competition first-round entry deadline.
Institutional funding includes any funding from angel investors, VCs and/or accelerator/incubator programs.
The Baiada Institute reserves the right to confirm that a team meets these requirements and can disqualify any team at any time if it is believed that the team lead is not a full, active and leading member of the team.
ACCEPTABLE BUSINESS IDEAS:
The types applications that are eligible for the competition include but are not limited to:
The Baiada Institute for Entrepreneurship reserves the right to reject any application for reasons including, but not limited to:
- New venture/new business in a for-profit business
- New venture/new business in a non-profit business
- Joint venture or alliance-based business (e.g., create new entity from current enterprises)
- Deemed to be in violation of any of Drexel University’s policies including Code of Conduct
- Deemed to be in violation of Drexel University’s Community Standards including the Student Handbook
- Violates any local, state or national law and/or appears to be pornographic in nature or is related to drug, alcohol, tobacco, marijuana, or CBD use
- Was previously awarded a top prize (First, Second or Third) in any prior Baiada Institute competition
- Does not present sufficient content or material appropriate to send to judges for evaluation and feedback
- Does not follow the rules set forth by the Competition
- Does not meet all of eligibility requirements of the Competition
The competition is open to students regardless of their degree program or level of entrepreneurship education. Students who have had some exposure to entrepreneurship classes, workshops or similar experience may perform better in the competition so we encourage all participants to get as much exposure as possible to Drexel’s entrepreneurship resources as possible. These include:
It is highly recommended that if you have little or no prior entrepreneurship experience that you review your application and presentation with a Baiada Institute mentor prior to submission. You may also attempt to add team members who may have prior experience with entrepreneurial teams.
The Baiada Institute honors the confidentiality of all participants applications. Application details will not be released by the Baiada Institute for any purposes other than use in the 2019BIIC. The judges also recognize the sensitivity of the materials being presented and all participants, judges, and mentors should consider themselves bound by Drexel University Code of Conduct policies.
Teams may wish to include the following optional disclaimer on the cover sheet of their submissions, recognizing that it is not a legally binding agreement:
This application is confidential and is presented solely for the purpose of evaluation in the 2019BIIC. This application may not be reproduced or redistributed in whole or in part. By accepting a copy of this application, the recipient agrees not to reproduce or disclose the contents of this application to third parties without the prior written consent of its authors.
Some participants may ask that confidentiality agreements be secured from mentors, organizers and/or judges. While the organizers of the 2019BIIC appreciate the concerns behind these requests, as a matter of convention and practicality, confidentiality agreements are not signed as part of the 2019BIIC.
Submissions for the initial application are kept confidential and are not disclosed publicly, However, during the competition presentations you should ensure that you are not disclosing proprietary information that could prevent you from later gaining patent protection for your idea if you have not already filed for a provisional patent. You should speak to a patent attorney for any questions or concerns about disclosure
General questions or concerns regarding confidentiality should be addressed to firstname.lastname@example.org.
UNIVERSITY CLAIMS ON STUDENT-DEVELOPED TECHNOLOGY
Drexel University’s Intellectual Property Policy information is available at http://www.drexel.edu/provost/policies/patent_policy.asp.
Generally, degree-seeking student inventions are the student’s own property. As stated in the university policy, “Inventions which the inventor can demonstrate result from research or other work conducted on the inventor's own time without use of Drexel University resources such as University funds, space, personnel or facilities, are the property of the inventor. The University undertakes no responsibility with respect to such inventions. However, at the option of the inventor, such inventions may be assigned to the University and processed as University-sponsored inventions hereunder.”
Students are always encouraged to put their efforts into seeking the advice of faculty members and other resources at the University. These include contacting Dr. Robert McGrath in the Office of Technology Commercialization at Robert.email@example.com or 215-895- 0303 to determine what permissions may be necessary to commercialize any technology.
The Baiada Institute does not publicize the names and associations of the first-round judges who participate in the competition and will not reveal the identity of judges that read any application unless the judge specifically requests an opportunity to contact the students who submitted the application.
Final-round judges will be announced during the competition period and will be publicized on the competition website.
No participant may under any circumstances attempt to contact a judge during or before the competition. Any such behavior will result in the disqualification of the participant and his/her team from the 2019BIIC.