The 2016 PayPal Pitch Fest is open for registration to FinTech product or technology startups that: (a) have a minimum viable product and early trial with customers; (b) are armed with seed stage funding and (c) are based out of Singapore or willing to relocate their startup to Singapore. By registering for Pitch Fest, you agree to be bound by these terms and conditions. The Pitch Fest is conducted by PayPal Pte. Ltd. (“PayPal”).
Pitch Fest Applications
You can apply for Pitch Fest via https://www.starttank.com/singapore/apply/. Applications open on 4 May 2016 and close on 25 May 2016 at 6 pm (SGT).
The expert judges will select finalist startups based on their applications. The finalists will be notified via phone and email latest by 27 May 2016. The finalists must be available on 2 June 2016 from 1.30 pm to 6 pm in Singapore to present their pitches to the panel of expert judges, at their own expense. PayPal is not responsible for any costs associated with entering the Pitch Fest.
The expert judges will select winners to participate in PayPal’s nine-month incubation program. The winners will be notified via phone and email on or after 3 June 2016. Winners are expected to be available and present for a media briefing and PayPal Innovation Lab launch event on a date to be advised. The winner acknowledges that the incubation program will be subject to separate terms and conditions which will require the winner’s agreement. If, for any reason, the winner does not take the prize, the prize will be forfeited by the winner.
All eligible applications will be judged by a panel of expert judges (internal and external to PayPal) selected by PayPal in its sole discretion. Judging of the applications and the pitches will be based on the following criteria: (i) startup team – the technical capabilities, business background and commitment of the team; (ii) business model and market – scalability of the business, market size and barriers to entry; (iii) technological innovation, defensibility of technology and competitiveness; and (iv) early traction and market viability. For full details about the judges, please see https://www.starttank.com/singapore/apply/. PayPal reserves the right to appoint new/substitute judges for reasons outside its reasonable control (including, but not limited to, in the case of illness, unavoidable absence, or conflict of interest of any of the judges). Decision of judges is final and binding on all matters relating to Pitch Fest.
If you enter Pitch Fest as a member of a team, you understand and agree that, in order for a team to be eligible to participate, all of the members of the team must agree to these terms and conditions. By entering, you represent and warrant that you have obtained the appropriate agreements and/or approvals by your team members.
All applications shall remain the property of the eligible participant. However, each entrant agrees that PayPal may, without any limitation or compensation, use his or her name, voice and/or likeness in any and all media for the purpose of advertising and promoting the PayPal websites, the Pitch Fest, PayPal incubation program or any other promotion sponsored by PayPal. Additionally, by submitting an application, you acknowledge that PayPal may obtain many entries in this Pitch Fest and that such entries may be similar or identical in theme, idea, format or other respects to others submitted in this Pitch Fest and/or other competitions or otherwise involving PayPal. You acknowledge and agree that PayPal does not have now, nor shall it have in the future, any duty or liability, direct or indirect, vicarious, contributory, or otherwise, with respect to the infringement or protection of any copyright or other intellectual property right in and to your application.
Representations and warranties
You hereby represent and warrant that your pitch/startup (i) is your original work and was created by you, (ii) has not won previous awards granted by PayPal; (iii) does not violate or infringe the intellectual property, proprietary or other rights of any third party, (iv) you possess and control all rights necessary to submit the application irrevocably and without restriction to PayPal, and (v) that publication of your pitch/startup via various media including web posting, will not infringe on the rights any third party rights. If PayPal has reason to believe your pitch/startup is not your own work, then PayPal may, in its sole discretion, invalidate your application in the Pitch Fest. You shall indemnify and hold harmless PayPal from any claims in relation to your application.
PayPal reserves the right, at any time to verify the validity of applications and participants and to disqualify any participant in its sole discretion who submits an application that is not in accordance with the terms and conditions or who tampers with the application process. Errors and omissions may be accepted at PayPal’s discretion. Failure by PayPal to enforce any of its rights does not constitute a waiver of those rights. If for any reason, the contest is not capable of running as planned, including, without limitation, due to infection by computer virus, bugs, tampering, unauthorised intervention, fraud, technical failures or any other causes beyond the control of PayPal, PayPal reserves the right in its sole discretion to take any action that may be available, including to cancel, terminate, modify or suspend the contest and/or disqualify any individual, at any time with or without notice to a participant and without any liability to any participant. Participants may obtain updated versions of these terms and conditions, if any, by logging on to the website.
Limitation of liability
PayPal and its representatives shall not be responsible or liable to any participant for any loss or damage whatsoever which may be suffered or incurred by a participant as a result of his/her participation in the Pitch Fest including, without limitation, any loss or damage which may be suffered or incurred by any participant as a result of: (a) any wrongful act or omission on the part of any third party; (b) any failure to receive or process any application; (c) any computing, telecommunications or equipment failure or malfunction; (d) any submission and/or notice which is misdirected or lost in the postal system or email communication. In no event shall PayPal and its representatives be liable to any participant for any indirect, special or consequential loss or damage (including, but not limited to, loss of income, profits or goodwill), howsoever arising.
These terms and conditions shall be governed by the laws of Singapore and participants agree to submit to the exclusive jurisdiction of the courts of Singapore.