top of page

Competition Rules

The aim of these Rules is to set out the terms and conditions governing your participation in the Competition. By participating in this Competition, you fully and unconditionally agree to comply with these Rules. If you do not agree with any of these Rules, do not register for this Competition.

ORGANIZER

Organizer (the “Organizer”): Transfong Ventures Pte. Ltd., 55 Ayer Rajah Crescent, #01-10, Singapore 139949.

1.     TERM

This Competition begins on 1 February 2023, 08:00 [GMT+8] and ends on 12 May, 2023, 23:59 [GMT+8]. The Application Phase within the Competition will run from 1 February 2023, 08:00 [GMT+8] to 20 March 2023, 23:59 [GMT+8].

2.     AGREEING TO THE RULES

Any eligible person who registered to participate in the Competition (“Participant” or “You”), is required to review and accept these Rules. By accepting these Rules, You:

  • enter a valid and enforceable contractual relationship with the Organizer regarding participation in the Competition. You acknowledge that the registration for and enrolment into the Competition does not create any other relationship between the Organizer and the Participant,

  • fully and unconditionally agree to comply with these Rules,

  • acknowledge that the Organizer may amend and/or update these rules at any time without notice.

 

In case of non-respect or breach of these Rules, the Participant will be immediately disqualified from the Competition and no prize will be awarded to such disqualified Participants.

3.     REGISTRATION AND PARTICIPATION IN THE COMPETITION

To take part in the Competition, we must receive your registration by 20 March 2023, 23:59 [GMT+8].

To register, the Participant must have submitted his/her application via a form on the Competition website, and must have truthfully and accurately completed all required fields in the form.

Any registration based on inaccurate, false or incomplete information will result in the Participant’s disqualification. Refusing collection, recording and use of their personal data that is strictly necessary to performing the Competition will result in the Participant’s disqualification.

The Participant is solely responsible for the information he/she provides when registering. Any intentional or unintentional mistake, anomaly or inconsistency, regarding this information, may result in the Participant’s disqualification. The Organizer reserves the right to proceed with all necessary verifications regarding the Participant’s identity and email address.

Registration for and participation in the Competition is free, with no purchase or payment obligation.

4.     ELIGIBILITY

This Competition is open to:

  • Tech business entities, regardless of geographical location, and not limited to Singapore, BRICS countries and Southeast Asia.

 

Documents that may confirm the Participant’s eligibility may also be required prior to awarding any prizes (e.g. identity document, registration certificate etc.).

Participants shortlisted into the Final Competition must be able to pitch in English at the final Event. 

5.     PURPOSE OF THE COMPETITION AND PARTICIPATION

Participation in the Competition must be a tech startup, SME or project.

  • Participants enter the Competition on behalf of their companies/projects. During the registration process, Participant must designate one individual who is part of the company/project for contact purposes with the Organizer. This person will be responsible for registering the company/project at the Competition and participate in the Competition on behalf of the company/project. As a company/project participating in this Competition, you represent and warrant to the Organizer that such person (i) is an authorized representative of company/project and is participating in the Competition on behalf of such company/project, and (ii) has obtained all necessary approvals to enter the Competition, including all persons qualified to grant any intellectual property rights to Organizer.

 

The goal of the Competition is for Participants to submit projects meeting the requirements determined by the Organizer in the Competition brief, and that are formalized by deliverables. The brief includes information regarding various deadlines, details of the prizes, Organizer requirements etc. (the “Brief”). The Brief is accessible through the Competition Website (www.brics-inno.com).

6.     DELIVERABLES

During the Competition, Participants may provide any documents or materials (such as pitch decks, etc.) relating to their project to the Organizer (the “Deliverable”).

To be eligible, Deliverables must (i) be completed accurately and wholly, (ii) be in a common digital format, and (iii) be in English and in general terms must comply with these Rules.

If a Deliverable cannot be downloaded, is not in the right format or is incompatible, illegible, or unintelligible, the Deliverable will be disqualified.

By submitting a Deliverable, the following must be complied with:

  • The Deliverable includes exclusive contributions from a Startup.

  • Otherwise, if third party content has been used in the development of the Deliverable, all rights, authorizations and agreements necessary to submit the Deliverable and grant the rights mentioned herein have been obtained from such third party. The existence of uncredited third-party contributions in the Deliverable will result in the disqualification of the Deliverable and the related Participants;

  • No other individual and/or entity is entitled to claim any rights from the use of the Deliverable; and

  • The content of the Deliverable does not and will not infringe or violate any rights of any third party or entity, including, without limitation, intellectual property rights, privacy, competition law, confidentiality, or any contractual or common law right. All deliverables suspected of infringing any law(s) and/or any third party’s right will be ineligible to participate.

 

Participants are responsible for and shall bear any costs or expenses associated with preparing and submitting Deliverables. Participants assume all risks for damaged, lost, late, incomplete, invalid, incorrect or misdirected Deliverables.

7.     COMPETITION PROCESS

Competition Rounds. The Competition consists of three rounds:

  • Round 1: Pre-screening. Registrations are open from 1 February 2023, 08:00 [GMT+8] to 20 March 2023, 23:59 [GMT+8]. Pre-Screening will take place and complete within 5 working days from the date of registration. Registrations that pass the pre-screening will then be invited to complete a more comprehensive form to proceed to Finalist Screening via email.

  • Round 2: Finalist Screening. Finalist Screening will take place from 7 April 2023 to 20 April 2023. At the end of this Round, up to top [25] winning Deliverables will be selected to proceed to the Finals.

  • BRICS Entrepreneurship Competition Finals on 5 May 2023. BRICS Entrepreneurship Competition Singapore 2023 Finals will be held in a hybrid setting and logistics of this event will be shared following the launch of the competition, nearer to the event date. All participants will be notified directly via email with any updates related to the final round.

 

Deliverable. If a Participant does not provide a Deliverable to the Organizer before the deadline, this will be considered as a withdrawal from the Competition. The Participant may not join the Competition, and may not obtain any compensation from the Organizer.

Selection Criteria. Deliverables will be judged according to the Selection Criteria, described below. The Competition does not depend, even partially, on chance or luck, and therefore should not be considered as a lottery. Under no circumstances are factors such as appearance, religion, membership in a trade union, political opinions or sexual orientation considered.

Once selection has been completed, Participants will be notified by email of the results of each Round. The Organizer will be free to alter the dates on which results are released should this become necessary due to the number of projects to be assessed.  The result of the Finals that are decided by the judges will be announced on the day pitchings are made.

A.   Round 1: Pre-Screening

All Pre-Screening Deliverables must be submitted before 20 March 2023, 23:59 [GMT+8]. Deliverables must meet the requirements set out in Section 6, above, and include:

  1. Duly completed form via the Competition Website with accurate information furnished

  2. A pitch deck introducing their Project/Company, including but not limited to the following:  

  • Problem/solution

  • Market and total addressable market (TAM)

  • Value proposition and positioning

  • Go-to-market strategy

  • Business/revenue model

  • Traction: KPI metrics & milestones

  • Future forecast

  • Team introduction

 

Pre-Screening will be completed within 5 working days from the date of registration by the Participant. Participants will be informed of the outcome within 5 working days from their date of registration.

B.   Round Two: Finalist Screening

All Finalist Screening Deliverables must be submitted before 7 April 2023, 23:59 [GMT+8]. Deliverables must meet the specifications set out in Section 6 above and include:

  • Completely filled up comprehensive full form

 

Selection phase following Round Two will proceed as follows:

“Criteria based” selection will take place from 7 April 2023 to 20 April 2023, 23:59 [GMT+8].

The Organizer may evaluate and select the Deliverables the following criteria:

  • Comprehensiveness of Content

  • Technical Depth

  • Feasibility of Business Model

  • Project Implementation

  • Market Prospects

  • Team

 

Up to [25] Participants at the end of this round will proceed to the Finals.

Any attempt to cheat, use fake profiles, use third-party applications that enable false voting linked to cheating, or engage in duplicate voting of which the Organizer becomes aware will result in the disqualification of the project that received these votes, and in the disqualification of this project’s Participants, who will not receive any prize or award. The Organizer’s decision regarding disqualification is final and its decision may not be contested by Participants involved in the project in question or by any other Participant.

Participants will be informed of the results of the Round Two by 30 April 2023, 18:00 [GMT+8].

C.     BRICS Entrepreneurship Competition Singapore 2023 Finals

The Organizer will notify Participants who have been selected to participate in the Final Round directly by email to the address provided during registration. In the event a Participant does not confirm his/her attendance at the Finals, the Organizer reserves the right, at its sole discretion, to disqualify this Participant. This disqualification shall not entitle the Participant to claim any kind of compensation from the Organizer.

The Final Round will take place on 5 May 2023, 13:00-1800 [GMT+8].

Format: 10 mins pitch + 10 mins Q&A.

The result will be announced on another separate day, Prize Award Ceremony, on 12 May 2023.

8.     PRIZES

The prizes are awarded to the winners of the Competition and are subject to compliance with the following conditions:

  • The Deliverables comply with Section 6 (“Deliverables”),

  • Each Participant of a winning project complies with Sections 9 and 11,

  • Winning Participants fulfil the conditions of eligibility of Section 4,

  • Winning participants dedicate a reasonable amount of their time on the business, and must be a key decision-maker in the company.

In addition, the proposed business idea must not be in the following list: cafes, restaurants, night clubs, lounges, bars, foot reflexology, massage parlours, gambling, prostitution, social escort services, employment agencies (including recruiting foreign work permit holders and workers/support staff, relocation services, and manpower services), and geomancy.

No prize will be awarded to winners who do not fulfil the above conditions.

Subject to Terms and Conditions above, once confirmed by Organizer, the winners will receive the following within one month from the end of the competition:

  • One Champion Prize Winner: US$10,000 cash reward,

  • Two 1st Runner Up Winners: US$5,000 cash reward each,

  • Three 2nd Runner Up Winners: US$2,000 cash reward each.

 

Participants (not limited to winning projects) will have an the opportunity to tap into startup mentoring, investment opportunities and a fast-tracked entrance to China market via Singapore.

 

Participants who establish their operations in Xiamen, China after the end of the competition are also eligible for a grant of up to US$1.23 million, subjected to a separate set of Terms and Conditions.

 

No assignment or transfer of prizes is allowed. If a potential winner cannot be reached, is unable to accept the prize or any portion of the prize for any reason, Organizer shall have no further obligation to such potential winner. Organizer will not replace any lost or stolen prizes after being awarded to winners. Winners will accept the prize “as it is”. Organizer disclaims any warranty regarding the Prizes.

In the event a Participant (a winner) cannot be reached, by email or by phone, for more than three (3) months after the first attempt to reach them was made, he/she will be deemed as having waived their right to claim the prize and will not be entitled to any prize or any kind of compensation.

The Organizer will be at liberty to substitute the prize with another which is of similar value. Any such decision is at Organizer’s sole discretion.

Any Participant who does not fulfil the conditions of Participation as provided in the Rules during their registration and/or at any time during the Competition will be disqualified from the Competition without prior notice and will not be entitled to any prize. In the event that a prize is awarded to a Participant who does not meet the conditions of Participation when registering or throughout the duration of the Competition, Organizer reserves the right to require the Participant to return the awarded prize.

9.     COMMUNICATION

The Participant acknowledges and consents that Organizer may, throughout all countries and for the duration of the Competition and for a period of one (1) year following the Final Round use the Competition for publicity, including for Organizer’s advertising, by any means and through any format (website, advertising banners, social networks, newsletter, press release) now known or unknown to date, free of charge or for a consideration.

In particular, you consent to the use, by the Organizer, of your name and surname, your legal Startup name and the country of its registration, the logo, your image, the information regarding the Prize (if you are a winner), the name of your company and its distinctive signs and any other personal data that you submit with your Deliverables as well as the content of your Deliverables relating to the Competition.

As an example, each Participant authorizes the Organizer to use the photographs taken during the Final to disseminate them via any communication medium.

Such use does not entitle the winner to any other payment than the Prize he/she received. The Organizer agrees to cease use of the aforementioned elements in connection with the Participant at the end of the aforementioned period.

10.  CONFIDENTIALITY

The Organizer may share the information contained in the Deliverables with third parties when relating to the Event. In general terms, when submitting any Deliverables, the Participants understand, agree and accept that any information contained therein may be publicly disclosed by the Organizer. Such information contained in the Deliverables may be shared with other key partners working in the Event with the Organizer.

If you are a prize winner, the Organizer may request that you execute a confidentiality/non-disclosure agreement for the purpose of entering into negotiations regarding further development of your project, as described in your Deliverable.  Such confidentiality/non-disclosure agreement will be directed to your Deliverable and all intellectual property that it may contain.

Furthermore, Participants acknowledge that the Organizer may currently or in the future be developing information internally, or receiving information from other parties, that is similar to the information contained in any of the projects. Accordingly, nothing herein shall prohibit the Organizer from independently acquiring, developing, or having developed for it, products, concepts, systems, services, or techniques that are similar to or compete with the products, concepts, systems or techniques contemplated by or embodied in any Deliverable.

The Participants recognize that other Participants, individuals or entities may have provided to the Organizer or others, or made public, or may in the future submit, or make public, content that is the same or similar to any piece of information contained in any of the projects. Hence, the Participants acknowledge, agree and accept that the Organizer shall have the right to use such same or similar materials, and that the Participants will not be entitled to any compensation arising from the Organizer’s use of such materials.

11.  INTELLECTUAL PROPERTY

Definitions. For the purposes of this section,

  • "Intellectual Property Rights" refer to any copyright or other rights over a brand, a design or a model, a patent and, more generally, any element, (including trade secrets and knowhow), that may be protected by national and/or international laws or conventions on intellectual property (“Intellectual Property Rights”)

  • “Previous Rights” refer to any Intellectual Property Rights and/or any associated know-how held by the Participants before the start date of the Competition (“Previous Rights”)

  • “Creations” refer to any software (including source and object code software), database, technical specifications, text, design, model, information, knowledge, method, process or product, as well as any resulting elements and/or processes likely or otherwise to be protected according to national and/or international laws or conventions on intellectual property developed by any Participant as a part of any submitted deliverable throughout the Competition (“Creations”).

 

Warranty of non-infringement of Intellectual Property Rights. When submitting any Deliverable, at any stage of the Competition, each Participant represents and warrants to the Organizer that he/she or the Startup is the co/owner and/or co/holder of the Intellectual Property Rights regarding all or part of the Creations  contained in the Deliverables submitted at any stage of the Competition, and that he/she has obtained all rights and permissions regarding all pre-existing Creations and any elements of the Deliverables for which he/she does not hold the relevant rights.

Each Participant warrants  (i) that his/her contribution is original and unprecedented; (ii) that it does not infringe upon any Intellectual Property Rights of any third party; (iii) that all the elements on which his/her submissions are formed, as well as all pieces of contributions and information communicated in the submission presentation documents are accurate, reliable and complete; and (iv) that the submission of the relevant Deliverables do not constitute an act of unfair competition of any kind.

It is compulsory for Participants to indicate the source of any pre-existing Creations of whichever nature and support that are included in any submitted deliverable. Any Deliverable involving several Participants constitutes a collaborative work and it should be treated as such in accordance with the applicable regulation in force.

Liability. Organizer cannot be held liable for any infringement of the above provisions by Participants. Each Participant shall indemnify the Organizer against any loss, damages, action, claim, opposition and demand from any third party in connection with any Intellectual Property Rights / Creation in the Deliverables.

By submitting a Deliverable and participating in this Competition, you are not granting the Organizer any rights to any intellectual property supporting all of part of the Deliverable and the Organizer makes no claim to ownership of your Deliverable or any intellectual property that it may contain.

12.  MODIFICATION OF RULES, SUSPENSION AND CANCELLATION OF THE CHALLENGE

Update of the Rules. The Organizer reserves the right to amend these Rules at any time, including the Competition duration in case of operational imperatives, without prior notice to Participants regarding the enforcement or the validity of these amendments.

Participants are encouraged to consult these Rules regularly. Participants expressly waive all claims or disputes related to any amendment to these Rules by the Organizer.

Should any paragraph of these Rules be declared or judged illegal, unenforceable or void by a court decision, the paragraph in question will be considered null and void, but all other unaffected paragraphs will be enforced within the limits of the law.

13.  LIMITATION OF LIABILITY

The Organizer will in no way be held liable in the event of breakdown or failure, regardless of the cause, of any telecommunications network used that causes Participants difficulty in or prevents Participants from identifying themselves on or gaining access to the Competition website.

Participants agree that The Organizer, its affiliates and all of their respective officers, directors, employees, contractors, representatives and agents (“released parties”) will have no liability whatsoever for, and will be released and held harmless by participants from/ for any claims, liabilities, or causes of action of any kind or nature, for any injury, loss or damages of any kind including direct, indirect, incidental, consequential or punitive damages to persons, including without limitation disability or death.  Without limiting the foregoing, everything on the Competition Website and in connection with the Competition is provided “as is” without warranty of any kind, either express or implied, including but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement.  Some jurisdictions may not allow the limitations or exclusion of liability for incidental or consequential damages or exclusion of implied warranties, in which case such limitation or exclusion shall apply only to the extent permitted by the law in the relevant jurisdiction.

Participation in the Competition implies acknowledgement and acceptance of the characteristics, limits and risks of the internet and related technologies, particularly with regards to performance, response time, the security of software and computer equipment against various potential attacks, such as viruses, logic bombs or Trojans, and loss or misuse of data. As a result, the Organizer will not be held liable in any way for any damage incurred by Participants arising from these characteristics, limits and risks, which Participants accept by registering and taking part in the Competition.

The Organizer will not in any case be held liable for damages resulting from faults with or delays in the submission of deliverables by Participants, including refusal to accept these deliverables as a consequence of their submission outside the deadlines set out in the Rules, from faults with or delays to the sending of any emails by the Participant sent as part of the Competition, or from any alterations made to the deliverables independently of the Organizer.

The Organizer will not, in any case, be held liable for damages resulting from services provided by a third-party relating to the prizes.

The Organizer will not be held liable for the consequences of a Participant’s disqualification from the Competition as a result of their violation of these Rules.

14.  PERSONAL DATA PROTECTION

Participation in the Competition requires the communication of the Participant's personal data ("Personal Data").

Participant’s personal data is subject to processing within the meaning of the regulations on the protection of personal data (The Personal Data Protection Act, known as the PDPA) for which the Organizer defines the purposes and means and is, as such, “Data controller” within the meaning of the PDPA.

The purposes of the processing are:

  • To meet the needs of organizing the Competition

  • To organize the intermediation between the Participant and the Organizer, to ensure identification, communication and preservation of the exchanges with the Participant

 

In accordance with the provisions of the PDPA, the Organizer undertakes to implement organizational and technical security measures in order to protect all  Personal Data of Participants.

15.  CLAIMS

Any questions or claims by the Participants arising from the Competition should be addressed no later than thirty (30) days following the Competition end date to register@brics-inno.com. All claims must include: (i) the Participant’s complete contact details (name, address, email address and phone); (ii) the name of the Competition; and (iii) a clear and detailed explanation for the claim.

16.  MEDIA USAGE

  • By entering this Competition, Participants consent to the use of their personal data by the Organizer for the purposes of administering and conducting the Competition and any post-Competition activities and/or publicity. Participants agree to take part in any publicity relating to the Competition as well as to the use of their names and photographs in such publicity.

  • Participants acknowledge and agree to participate and cooperate in all media and promotional activities relating to the Competition, including but not limited to being interviewed, photographed and videoed at any time during the Competition Period. Participants grant the Organizer royalty free/ without fee, world-wide, perpetual, irrevocable and non-exclusive license to use, reproduce, display and/or create derivative works of such footages and photographs in all media worldwide, including virtual social media and networking websites without compensation (unless prohibited by law) and without prior inspection or approval. Participants agree to execute additional specific consents to such use if asked to do so.

17.  LIABILITY

  • Whilst reasonable precaution will be taken by the Organizer and the Competition Partners to ensure safety of all the Participants, each Participant acknowledges and agrees that his or her participation in the Competition is at his or her own risk. Upon registration for the Competition, the Participant agrees to defend, indemnify and hold harmless the Organizer, its subsidiaries/associated companies and the Competition Partners, including their respective officers, employees, contractors and agents, from and against any and all claims, causes of action, damages, obligations, losses (including any loss of opportunity), liabilities (including negligence), personal injuries, costs or debt, and expenses (including attorneys’ fees and costs) and all amounts paid in settlement arising from or relating to, whether directly or indirectly, special or consequential, to the Participant’s participation in the Competition. The Organizer and/or the Competition Partners may assume the exclusive defence and control of any matter for which Participants have agreed to indemnify the Organizer and the Competition Partners. Participants agree to assist and cooperate with the Organizer and the Competition Partners in the defence or settlement of any such matters.

 

18.  APPLICABLE LAW AND DISPUTES RESOLUTION

The Competition and any action related thereto shall be governed by the law applicable in Singapore.

In the event of a dispute, the Organizer and the Participant undertake to submit their dispute to an amicable conciliation prior to any legal proceedings. The party wishing to initiate conciliation shall inform the other party by means of a registered letter with acknowledgement of receipt in which it will inform of its intentions and will explain the cause. If no agreement is reached between the parties within thirty (30) days after receipt of the registered letter, the parties are at liberty to initiate a claim in court.

In case of persistent disagreement on the application or interpretation of the Rules, and in the absence of an amicable settlement, any dispute that may arise between the parties, will be subject to the exclusive jurisdiction of the Singapore courts to which the parties expressly grant jurisdiction, even in the case of multiple defendants, in summary, proceedings, appeal or by motion.

bottom of page