Terms and Conditions

 

Official Rules

The Urban Future Prize Competition
Presented by the Urban Future Lab

NO PURCHASE OR PAYMENT IS NECESSARY TO PARTICIPATE. VOID WHERE PROHIBITED OR RESTRICTED BY LAW.  

The Urban Future Prize Competition (the “Competition”) is a competition that identifies and recognizes the most innovative, impactful and scalable next generation smart grid, smart city companies from around the world.

1. Eligibility. The Competition is open to startups working to reduce carbon emissions in the smart city/smart grid areas (each, a “Startup”), Previous winners of the Urban Future Prize Competition are not eligible. All entrants must be at least 18 years of age. The Competition is not open to residents of North Korea, Sudan, Syria and any other U.S. sanctioned country and is void where prohibited by law. The Urban Future Lab (“UFL”)  reserves the right to verify an individual’s eligibility to participate in the Competition.

By participating in the Competition, entrants (a) agree to be bound by the interpretation of these Official Rules by the UFL; (b) acknowledge compliance with these Official Rules; (c) represent and warrant that entrant meets all of the eligibility criteria set forth in these Official Rules; (d) agree to comply with any and all applicable federal, state and local laws, rules and regulations; and (e) agree to release and hold harmless the  Urban Future Lab, ACRE incubator, NYU, NYU Tandon and any employees thereof  (“Competition Entities”) from and against all claims, injury, or damages arising out of or relating to participation in the Competition and/or the use, misuse or redemption of the Prize (hereinafter defined), and for any claim including claims based on defamation, publicity rights, invasion of privacy, copyright infringement, trademark infringement, or any other intellectual property related cause of action.

2. To Enter. Entrants must first submit an application at https://www.f6s.com/2019urbanfutureprizecompetition/apply Applications will be screened by the staff of the UFL which will select some of the applying organizations as semi finalists.  After further due diligence, the UFL staff will select approximately 6 companies as Finalists. The UFL reserves the right to select from 0-15 entrants as Finalists. All information submitted by entrants is subject to and will be treated in a manner consistent with industry standards of confidentiality. By participating in the Competition, entrants hereby agree that the UFL may collect and use their personal information for the execution of this Competition. All information submitted by entrants is being provided to Sponsors.

For European Union residents, please note that entrants’ data will be transferred outside the European Union to the United States which does not provide an adequate level of protection according to EU data protection regulations, for the purpose of administering this Competition. We will take all steps reasonably necessary to ensure that entrants’ personal information is treated securely. By entering the Competition, each entrant expressly agrees to such transfer.

3. Judging for Applications. To determine the Finalists, the UFL will be making a holistic evaluation of Eligible Entries using the following factors:

A. Business Model: Understanding of customer and evidence of the value they place on the Startup’s product or service.

B. Product & Market Fit: Understanding of competitive landscape and how the Startup’s product or service differs.

C. Team: Capabilities of the Startup’s team, board, partners and other stakeholders.

D. Growth: Understanding of key challenges that the Startup will face bringing their product to market.

E. Traction: The Startup’s grants, awards, and recognitions, and participation in accelerators and/or incubators.

F. Mission: The Startup’s commitment to measurable emissions reduction or sustainability impact.

4. Judging for Finalists. The Selection Committee will judge the Finalists and select the top 0 to 4 Finalists as Winners. The UFL reserves the right to not select a Winner.

5. Conflicts of Interest. All jurors participating in the Competition, whether as members of the UFL or the jury, will be prohibited from (i) judging any entrant they are employed by or affiliated with, or (ii) judging any entrant that they identify being unable to objectively evaluate.

6. Prize. Each Track Winner will receive one (1) $50,000 zero-equity cash prize (the “Prize”) and admission into the ACRE incubator at the UFL.

7. Winner Verification. To be eligible to be selected as a Winner and to receive a Prize, the Potential Winner must agree to: (a) release Competition Entities from any and all liability, loss, claims, demands, and causes of action for personal injuries or death and/or damage to personal or real property, theft, loss, or any other harm suffered directly or indirectly from Potential Winner’s participation in the Competition, including, but not limited to, traveling to, preparing for and/or participating in any Prize-related activity, or the acceptance, possession, or use or misuse of any Prize; and (b) except where prohibited by law, grants the Competition Entities the right to use such Potential Winner’s name, picture and/or likeness, or biographical information or voice for trade, advertising and publicity purposes, in any media now known or hereafter devised, throughout the world, in perpetuity, without additional compensation or consideration or notification.  Entry into the Competition constitutes an agreement to these terms. If a Potential Winner does not agree to these terms, the Potential Winner may be disqualified, at Sponsor’s sole discretion, and the Prize forfeited.

To be eligible to receive the Prize, each Winner must sign and return to the UFL, within three (3) days of issuance of such documentation from the UFL, an Award Agreement acknowledging and accepting all aspects of Prize conditions. This includes, but is not limited to, an agreement to occupy and pay rent for at least one desk at the UFL for a period of at least one year. Each Winner must also complete any additional legal documents provided by Sponsor with respect to the Prize and return them as instructed within the time frame specified or Winner may forfeit the Prize at Sponsor’s sole discretion. If a Potential Winner is unable to participate in or accept the Prize or any portion of the Prize for any reason, Sponsor will have no further obligation to the Potential Winner. Prize or Prize documents returned as undeliverable will result in forfeiture of the Prize. Sponsor expressly reserves the right to delay the announcement of the Winners for any reason Sponsor deems necessary. In addition, Sponsor reserves the right to select an alternate Winner in the event that any Potential Winner fails to comply with these Official Rules or fails to execute the documentation within the time frame specified.

Prize Terms. The Prize will be released in two tranches after April 22, 2019, but is subject to change in the Sponsor’s sole discretion. The first tranche of $25,000 will be made upon signing of an Office Lease with the ACRE incubator and the second tranche of $25,000 will be made upon successful completion of the first six (6) month lease. Successful completion of the lease entails full participation in ACRE Incubator programming, maintained physical presence at the ACRE Incubator, completion of mutually agreed upon Program Milestones (“Milestones”), and having no Rent Payment in arrears. The prizes are not transferable or assignable. The Competition Entities shall have no responsibility or obligation to a Winner who is unable or unavailable to, or who does not for any reason, accept or utilize the Prize. All costs and expenses not specifically listed above as part of the Prize are solely the Winner’s responsibility.

8. Taxes. All federal, state, country, provincial and other tax liabilities (including income and withholding taxes) and any other costs and expenses associated with prize acceptance and use not specified herein as being provided are the responsibility of the Winners. Each Winner who is a legal resident of the United States will be issued a 1099 for the actual value of his/her prize.

9. Publicity Release. By participating in the Competition, each Finalist grants the right to Sponsor, and its representatives, affiliates, licensees and assigns, to record, film, videotape and photograph such Finalist (“Images”). These Images will be owned by Sponsor. Sponsor and each of its designees shall have the right to use, re-use, reproduce, publish, display, exhibit, distribute, edit, adapt, post, stream, copy and exploit such Images, and all elements embodied therein, including any names, likenesses, address, voice, conversation, biographical and Prize information and any other attributes of such Finalist, individually or with others, in whole or in part, in conjunction with other material, if any and all media now known or hereafter devised, for the purpose of trade, advertising, publicity, promotion, or list of Competition Winners or any other lawful purpose whatsoever, in perpetuity, throughout the world, without additional compensation, consideration, notification or permission, except where prohibited by law.

10. Entrant Conduct. Each entrant is responsible for complying fully with both the letter and spirit of all the provisions of these Official Rules for the Urban Future Prize Competition. Failure to do so may result in disqualification from the Competition.

11. General Terms. The UFL reserves the right, throughout all phases of the Competition, to take any additional steps it deems reasonably necessary to ensure that each entrant meets the qualification standards set forth herein, has otherwise complied with these Official Rules, and is not engaged in any morally suspect activity. Entrants agree to comply with all such measures and understand that their continuing eligibility to participate in the Competition (including the right to receive any Prizes in connection therewith) is expressly conditioned on such compliance.

The Competition Entities are not responsible if the Competition cannot take place, or if any Prize cannot be awarded due to events outside of the reasonable control of the Competition Entities. If, for any reason, the Competition is not capable of running as planned, the UFL reserves the right, in its sole discretion, to cancel, modify, or suspend the Competition without liability of any kind to the entrants. The UFL reserves the right to modify and amend these Official Rules from time to time during Competition for clarification purposes. Failure by the UFL to enforce any term of these Official Rules shall not constitute a waiver of that provision.

By participating in the Competition, all entrants agree to indemnify, defend and hold harmless the Competition Entities from any and all damages, claims, and liability (including attorney’s fees and costs) arising out of or relating in any way to entrant’s participation in the Competition and acceptance or use of any Prize and to release all rights to bring any claim, action or proceeding against the Competition Entities. This includes, but is not limited to, any and all claims, demands, and causes of action for personal injuries or death and/or damage to personal or real property, theft, loss, or damage of any kind, or any other harm suffered directly or indirectly arising from or in connection with any Potential Winner’s participation in and/or entry into the Competition or acceptance or use of any Prize or, including, but not limited to, traveling to, preparing for and/or participating in any Competition Prize related activity and for any claims based on publicity rights, defamation, invasion of privacy and merchandise delivery.

The Competition assume no responsibility for any typographical or other error in the printing of the offer, administration of the Competition, errors in processing entries, identifying the Winners, in the announcement of the Prizes and Winners, and the delivery of the Prizes.

12. Severability. To the extent that any provision of this agreement or any paragraph, term, sentence, phrase, clause or word of this agreement shall be found to be void, illegal or unenforceable for any reason (and not subject to further appeal), (i) the remaining terms and provisions hereof shall be unimpaired and shall remain in full force and effect, and (ii) the illegal, invalid or unenforceable provision or term shall be replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of such invalid or unenforceable term or provision.

13. Residents of countries outside the U.S. If any provision of these rules is invalid under the law, rules or regulations of a particular country, it will only apply to the extent permitted. In addition to the tax liability disclosures in these rules, Winners are subject to abide by the income reporting and, if applicable, the payment of any taxes due per the laws, rules and regulations of the Winners’ country of residence.  

Sponsor/Administrator. As stated above, the official sponsor and administrator of the Competition is the Urban Future Lab at New York University’s Tandon School of Engineering, located at 15 Metrotech Center, 19th Floor, Brooklyn, NY 11201.

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