Kootenay Pitch Competition 2020/21 Rules
These competition rules have been established for the Kootenay Pitch Competition 2020/21, organized by the Kootenay Association for Science & Technology (KAST).
Participant: The Participant may be either one or more persons, or a business. The Participant must include at least one person with a permanent residence in the province of British Columbia, specifically in the Kootenay geographical region. If the Participant is a business, the business must conduct the majority of its activities from the Kootenay region of British Columbia. Eligibility requirements must be met.
Service: Must not be a service-based consulting business, with the exception of those service businesses that are entering the competition specifically to commercialize new intellectual property utilizing a product-based business model.
Technology: Technology means the application of a practical system of knowledge concerning the physical world and its phenomena and can refer to material objects such as machines, hardware or utensils, but can also encompass systems, methods of organization, and techniques.
Intellectual Property: KAST uses the WIPO definition of Intellectual Property (IP), which refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce. Intellectual Property is divided into two categories: Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and Copyright, as in the case of software. To be eligible, the IP being commercialized must: (a) be either owned by the Participant or exclusively licensed to the Participant for further development and commercialization, and (b) enable the Participants’ revenue mode
Team: A Team is a group of persons, who together are a “Participant” in the Competition.
Up to 12 applicants will present their business idea to the Competition jury in-person on one of the following dates: November 5, 2020, January 21, 2021, March 4, 2021. The winner of each pitch event (the Finalists) will then compete in the grand finale event on April 8, 2021.
Participants will need to use PowerPoint or other graphic displays to support their oral presentation. Each Participant will be given 10-minutes to present their venture plan, followed by a 10-minute question-and-answer session between the Participant and the jury. There will be approximately 5 minutes between presentations.
The jury, who may also have called upon outside expertise to complete their “Due Diligence”, will evaluate presentations. The jury will be directed to rank the entries in the order they deem to be most likely to succeed as a business venture in the current market.
The Participants will be informed of the results of each pitch event during the event, and the winner will be announced at the end of each event.
The prize award structure is as follows:
Three (3) Finalists will win:
- A free annual KAST membership (value: $200-$400)
- Three months of free entry into the Venture Acceleration Program ($600 value), which includes 1:1 mentorship from an experienced mentor
- Free entrance into the New Ventures BC Competition in 2021 ($200 value), courtesy of New Venture BC. Note: All finalists will be required to apply to the New Ventures BC Competition to be eligible for the Grand Finale prizing.
- Two hours of expert assistance, from a KAST Entrepreneur in Residence, for the application process for the New Ventures BC Competition.
One (1) Grand Finale winner will win:
- A free annual KAST membership (value: $200-$400)
- Three months of free entry into the Venture Acceleration Program($600 value) which includes 1:1 mentorship from an experienced mentor
- Travel expenses to Vancouver paid for Pitch Day (up to $750) at the New Ventures BC Competition in 2021; if applicant accepted
All prizes are in Canadian dollars. All Finalists will receive a certificate acknowledging their achievement.
Prizes and prize amounts may change without notice. KAST administration will communicate any changes to all participants.
All prizes that are to be awarded will be awarded within three months of winning.
How to Apply:
Completed application using the online form, available here, must be submitted electronically by certain dates.
The deadline to apply for the first pitch event is September 24, 2020 at 11:00pm. Subsequent application deadlines will be added here when determined for the pitch events in January and March, 2021.
We will review all applications and choose four contestants for each pitch event. If your application is successful, we will notify you by phone or email.
Participant Eligibility Requirements
For a Participant to be eligible:
- The Participant must have at least one person who is a permanent resident of the Kootenay region of B.C.
- If the Participant is a business, it must be:
- A Kootenay-based business with the majority of its business activity conducted from the Kootenay region of B.C.
- Privately held and not incorporated for more than five years, with the possible exception of businesses that are entering the Competition for the purpose of substantially changing their business model or business direction.
- For clarity, Participants are not required to be incorporated to enter the Competition.
- At least one team member must be the legal age of majority in B.C. or if not are represented or accompanied as appropriate by someone of the legal age of majority in B.C.
- While a Team member can participate on one or more Teams or entries, such person may not be the lead for more than one Team or entry.
- The Participant must have raised less than $1,000,000 of non-grant funding from any source, as of September 24, 2020, unless otherwise approved by KAST.
- The clear intent of the entry is to build an economically viable, for-profit, new business in B.C.
- A $75 entry fee, upon acceptance, is required. The entry fee is waived for applicants who are currently a KAST Venture Acceleration Program (VAP) client.The participant will be required to be eligible for and apply for the New Ventures BC Pitch Competition under the Round 2 submittal process, please see https://www.newventuresbc.com/rules/#4 for details. If the winning contest does not choose to enter the NVBC Competition, KAST reserves the right to send another company in their place and award the “travel costs” portion of the prize to another company.
- The Participant must be commercializing Intellectual Property that meets at least one of the following criteria:
- It is an innovative product or Service involving new Technology;
- It combines existing Technologies in a way that results in new Intellectual Property.
- It utilizes Technologies to develop new or improve existing products or services.
- It utilizes Technologies to develop new or improve existing production processes.
- It is the early-stage development of a new Technology.
The Participant agrees to:
- Reasonably cooperate in providing KAST with statistical and tracking data for up to five years following the end of the Competition;
- Co-operate in the promotion of the Competition and future competitions organized by KAST, by allowing KAST to use the Participant’s business and personal names;
- Provide, upon request by KAST, a brief (250-word) overview of their venture for KAST’s promotional and publicity use; and
- Make itself reasonably available to KAST and the media for promotional and publicity purposes.
Participants cannot be:
- Directly involved in the judging process for the Competition; or
- A service-based consulting business, with the exception of those service businesses that are entering the competition specifically to commercialize new intellectual property utilizing a product-based business model.
Entry Requirements for the Competition
Completed registration and an outline of the business idea using the online form must be submitted electronically by specific dates. Applications for the first pitch event are due September 24, 2020 at 11:59pm using the online form found here. Dates for the subsequent pitch events in January and March will be added here as they’re determined (about six weeks prior to each pitch event).
Show how the Participant meets the eligibility requirements:
- Describe to us who you are, where you live and what is the history/future of your company (maximum 100 words)
- Include a description of the product or service offering (maximum 100 words);
- Include a description of the innovation behind the idea without disclosing proprietary Technology (maximum 100 words);
- Include a description of the business model – how will the company make money? (maximum 100 words)
- Record a 60-second (max) video elevator pitch for your venture.
- If in the past you have applied to, or participated in, the NVBC Competition or another formal pitch competition, please provide details. (maximum 100 words)
The ACCEPTED Participant has paid the registration fee of $75 in Canadian funds and has registered for the Competition either online at www.kast.com/kootenaypitchcompetition or by mail or courier in an envelope postmarked by such deadline. Payments can be made online (info to come). Cheques should be made payable to the KAST and sent to:
91-D Baker Street
Jury Conflict of Interest Policy
KAST selects its jury members in advance of the Competition. As a result, there may be instances where a jury member has a conflict of interest with a venture in the Competition.
A conflict of interest arises when a juror has a material conflict with a venture. This may include, but is not limited to:
- The juror is a shareholder, director, employee or consultant in a venture;
- The juror is related to one or more of the participants in the venture; or
- The juror stands to materially benefit from the success or failure of a venture.
In these cases, KAST follows these guidelines:
- All jurors must disclose any material conflict of interest to KAST, in writing, before reviewing submissions
- If a juror has a conflict of interest, they must recuse themselves from reviewing the identified company and/or any of this company’s direct competitors
- KAST will make best efforts to find a suitable replacement juror. If a replacement cannot be found, Competition scores will be tabulated with one less juror.
Warranties and Disclaimers
Your participation in the Competition is at your sole risk. KAST makes no representations or warranties, either expressed or implied, of any kind with respect to the Competition, its operation, or contents.
In no event shall KAST or its sponsors, jury, or mentors be liable to you or any third party for any special, punitive, incidental, indirect or consequential damages of any kind, or any damages, loss or expense whatsoever, including, without limitation, those resulting from the loss of use, data or profits, whether or not KAST has been advised of the possibility of such damages, loss or expense, and on any theory of liability, arising out of or in connection with your participation in the Competition. Some jurisdictions prohibit the exclusion or limitation of liability for consequential or incidental damages, so the above limitations may not apply to you.
KAST reserves the rights to terminate, withdraw or amend the Competition, to disqualify any Team or Team member, and to accept or decline any entry for the Competition, all for any reason and without notice.
KAST reserves the right, in its sole discretion, to disqualify any Participant, Team, Team member or entry if KAST determines that such party or entry violates the spirit of the Competition. In addition, KAST reserves the right, in its sole discretion, to disqualify any Participant, Team, Team member or entry, for any reason without notice. KAST’s decisions are final and binding.
Representation of Rights in the Work
You represent and warrant that you are the sole author of all documents and information submitted in connection with the Competition (the “Work”), that the Work is original and that the Work has not previously and does not presently infringe on any patents, industrial designs, trade-marks, trade names, brand names, service marks, logos or copyrights, whether or not registered and whether domestic or foreign, or the trade secrets, know-how or confidential or proprietary information of any other person or entity (the “Intellectual Property Rights”).
You agree to indemnify, defend and hold harmless KAST and any sponsor, jury member, or mentor and their respective officers, directors, employees, consultants, representatives and agents from and against any loss, liability, claim, cause of action, demand, damages, costs or expenses including without limitation reasonable legal, accounting and other professional fees made by any third party arising from or in connection with your participation in the Competition including but not limited to any violation by you or any other Participant of the Additional Terms or of the Competition Rules, your infringement of any Intellectual Property Rights or your misuse of any confidential information by any person. KAST reserves the right to assume the exclusive defence and control of any matter, subject to indemnification by you, which shall not excuse your indemnity obligations.
You further agree not to make any claim or initiate any proceedings in relation to any loss, damage or expense that you may incur in connection with your participation in the Competition, including but not limited to your entry or otherwise might claim contribution and indemnity from KAST and any sponsor, jury member or mentor and their respective officers, directors, employees, consultants, representatives and agents of the Work, against any person, partnership, corporation or other entity who might claim pursuant to the provision of any applicable statute.
No Confidentiality Obligation
Governing Law and Jurisdiction
The KAST trademarks, logos and service marks (the “KAST Marks”) displayed during the course of the Competition are the property of KAST or other third parties. You are not permitted to use any of the KAST Marks without the prior written consent of KAST or such third party that may have right, title and interest to a KAST Mark.
Participant grants to KAST all necessary licenses in and to any Participant trademarks, logos, trade-names or service marks (the “Participant Marks”) solely as necessary for KAST to advertise or promote the Competition and any future competition KAST sponsors or is involved with, in any way.
Right to Amend the Rules