Terms & Conditions

These terms and conditions (“Terms”) and any documents referred to in these Terms, apply to The RAPID Challenge set out at https://www.therapidchallenge.com/ (the “Challenge Website”).

 

By applying to The Rapid Challenge and using the Challenge Website, you agree to be bound by, and to comply with, these Terms and the Challenge Website terms of use set out at https://www.therapidchallenge.com/[terms of use]. We will handle any personal data acquired by us in the course of The Rapid Challenge in accordance with the privacy policy set out at https://www.therapidchallenge.com/[privacy policy].

 

These Terms are effective from 1 April 2022.

 

Please read these Terms carefully. We recommend that you print off a copy of these Terms for your records, as well as any future versions of them, as we may update them from time to time.

 

1. General

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1.1 These Terms govern entrants’ participation in the competition known as The RAPID Challenge (“TRC”).

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1.2 TRC is organised and administered by Prodrive Ventures Ltd, (Company Number 09157995 and registered address: Chalker way, Banbury, OX16 4XD) (“Prodrive Ventures”) in association with selected third party service providers as detailed on the Challenge Website (“Partners”).

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1.3 Prodrive Ventures can be contacted:

1.3.1.by post, using the postal address given above;

1. by telephone number on 01295 754000; or

2. by email at ventures@prodrive.com.

3. By participating in and submitting an application to TRC, all entrants agree to be bound by these Terms in full.

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1.4 Applying to TRC is prohibited for employees, officers or agents (and their families) of: (a) Prodrive Ventures or (b) the Partners.

 

1.5 Prodrive Ventures reserves the right to amend these Terms at any time without notice by publishing updated terms and conditions at the Challenge Website.

 

2. Eligibility

 

2.1. In order to be eligible to enter TRC all entrants must:

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2.1.1. on the date on which their application is submitted, be at least 18 years of age;

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2.1.2. be permanently resident in the United Kingdom

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2.2. The individuals or teams which wish to enter TRC must:

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2.2.1. have (or be about to have) a legal business operating in the UK;

2.2.2. have an innovative hardware project;

2.2.3. have a sustainable business strategy;

2.2.4. enter with a business which has no more than 10 employees and which has had a turnover of no more than £1 million in the last financial year (this includes businesses across all sectors and funding stages and includes pre-revenue businesses).  

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2.3. Entries are open to individuals or teams. In the case of team entries, one team member must accept a lead applicant and main point of contact positions. Team entries are restricted to a maximum of 10 members. 

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2.4. All entrants shall, on Prodrive Ventures’ request, promptly provide written evidence that they meet the eligibility criteria set out in this clause 2. Without prejudice to any other right or remedy which Prodrive Ventures may have, in the event that an entrant is unable to provide such evidence to Prodrive Ventures’ reasonable satisfaction, or if it otherwise comes to Prodrive Ventures’ notice that an entrant does not meet the eligibility criteria or where the entrant is in breach of any of the provisions of these Terms, Prodrive Ventures shall be entitled (at its sole discretion) to:

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2.4.1. reject an entry to such entrant or to his/her team;

2.4.2. terminate such entrant’s (or that entrant’s team’s) participation in TRC;

2.4.3. refuse to award a prize to such entrant (or such entrant’s team); or

2.4.4. require the repayment forthwith of any monetary prize awarded to such entrant (or such entrant’s team).

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2.5. Entrants that are currently active clients of Prodrive Ventures or Partners of TRC during or after the entry submission period will not be eligible.  

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3. Entry Submission

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3.1. TRC shall open for entries on 00:00 on 27th April 2022 and shall close to entries at 23:59 on 8th June 2022

 (“Application Period”). These times and dates are the relevant times and dates in London, England.

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3.2. To enter TRC entrants must submit an online entry form during the Application Period via the online entry process available on the Challenge Website. Any applications to enter TRC outside the Application Period shall not be considered in TRC.

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3.3. As a part of the online entry process entrants are required to provide the following:

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3.3.1.the name of the project, which will appear on all communication and media coverage concerning the project;

3.3.2. a succinct description (no longer than 200 words) of the project, outlining its principal purpose or function and who the target market is;

3.3.3. a summary on the business, including size of team, investment history and challenges the business faces; and

3.3.4.a video of the project.

 

3.4 Videos submitted as a part of the application process will only be accepted via a link to the video hosted by Youtube. The video shall include a brief introduction to the team, describe the project and demonstrate the prototype if available.

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3.5. Entrants shall submit all written elements of an entry in the English language.

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3.6. Entrants may submit entries for as many projects as they wish, but may not submit more than one entry per project.

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3.7. Prodrive Ventures will not accept entries which include profanity, pornography, indecent images or references or which infringe the rights of third parties (including without limitation intellectual property rights). Prodrive Ventures reserves the right to reject any entry it considers (acting reasonably) to be incomplete or to contain inappropriate content, or which is not submitted with a sufficient standard of English.

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3.8. By entering TRC, the entrant accepts that the application (including all materials described in clause 3.3) will be made publicly available and will be capable of being shared by members of the general public across any and all media channels including the Internet. Subject to clause 3.9, the entrant further accepts that  Prodrive Ventures has no duty of confidence to the entrant regarding the entry.

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3.9. Prodrive Ventures shall keep all entrants’ contact details confidential and shall not disclose them to third parties that are not a Partner without the written consent of the entrant.

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3.10. Prodrive Ventures reserves the right (at its sole discretion) to contact entrants to request amendments and/or additional information following submission of an entry to ensure that such entry meets the minimum requirements set out in this clause 3.

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3.11. All entries to TRC shall be made as set out in this clause 3. Any other forms of entry will not be valid and TRC will not review any other information or documentation supplied beyond the entry requirements.

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4. Judging Process

 

4.1. TRC will run from 00:00 on 27th April 2022 when TRC will open for entries to 21.00 on 16th November 2021 when the Final Event will take place.

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4.2. The judging process will be divided into 3 stages:

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4.2.1. Workshop;

4.2.2. Interview; and

4.2.3. Final Event.

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4.3. After the entry closing date as set out in 3.1, a panel of judges consisting of members from the Partners and Prodrive Ventures will shortlist the entrants for the Workshop.

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4.4. The number of entrants shortlisted for the Workshop will be at the discretion of the judging panel.

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4.5. The shortlisted entrants and their teams are required to attend the Workshop. After the Workshop, entrants will be required to submit a business plan via the website in order to be considered for the Interview stage. The business plans will be scrutinised by the judging panel who will reduce the shortlist further and select entrants for the Interview.

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4.6. The entrants and the teams selected for the Interview stage will be required to attend an interview run by the members from the judging panel. The Interview will allow the opportunity for the judging panel to ask questions about the business plans, projects and commercial intent. Following the Interview stage, the judging panel will select entrants to attend the Final Event.

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4.7. During the Final Event, the finalist entrants will be required to present their business plan and project to the judging panel and an audience. The winner of TRC will be selected by the panel and announced at the Final Event.

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4.8. All entrants accept that all costs in connection with the application process, judging process, attendance and any materials required as a part of TRC will be the responsibility of the entrants.  

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4.9. TRC entries shall be judged on the basis of the criteria specified on the Challenge Website in relation TRC.

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4.10. TRC judging panel shall be comprised of members from Prodrive Ventures and the Partners.

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4.11. Entrants which do not meet the eligibility requirements or are subject to any entry restrictions, shall not be entitled to be adjudged a winner and will not be entitled to a prize in any circumstances.

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4.12. All entrants accept the judges’ decisions as final and binding, and no further correspondence or discussion will be entered into. The division of the prizes will be at the discretion of the judging panel.

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5. TRC entries

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5.1. Prodrive Ventures will not accept:

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5.1.1. responsibility for the TRC entries that are lost, mislaid, damaged or delayed in transit, regardless of cause, including, for example, as a result of any postal failure, equipment failure, technical malfunction, systems, satellite, network, server, computer hardware or software failure of any kind; or

5.1.2. proof of posting or transmission as proof of receipt of entry to TRC.

5.2. For the purposes of this clause “entry” and “entries” shall include the entrants’ application materials and any documents, materials or entries which the entrants are required to submit as a part of TRC.

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6. Winners and prizes

 

6.1. TRC prize shall be specified on the Challenge Website.

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6.2. The results of TRC will be announced on the Challenge Website within 30 days following the Final Event. The announcement may include the first names and surnames of the winners and runners-up (including all the members of the relevant teams) (the Finalists) and project title, project description, project details and prize details awarded to the TRC Finalists.

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6.3. The TRC winner will be required to:

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6.3.1. use the prize for the business with which he/she entered TRC; and

6.3.2. partake in media duties such as give an interview, take part in a photoshoot, and provide a testimonial.

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6.4. All monetary prizes shall be payable in pounds sterling. Prodrive Ventures shall pay (or shall procure the payment of) all applicable amounts into the bank account(s) nominated by the winner within 60 days of the winner of the relevant prize being announced. Winners of services prizes will have up to 12 months from the day of the award to claim the entire prize after which the right to claim the prize or any of its portion will be terminated.  Where a monetary prize is payable to a team, Prodrive Ventures will pay the amount due into the nominated bank account and will have no responsibility for dividing such amount between team members.  

 

6.5. In the event that the winner, or as applicable the winner’s institution, refuses the prize, Prodrive Ventures will decide (at its discretion) how the prize will be distributed (if at all) and neither the winner nor the winner’s institution will have any rights in respect of the prize or its distribution.

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6.6. In the event of unforeseen circumstances, Prodrive Ventures reserves the right to offer an alternative prize of equal or greater value.

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6.7 Prodrive Ventures reserves the right to distribute the prizes amongst the finalists as deemed fit. The Finalists will have up to 12 months from the Final to claim their prize after which period the prize will be expired. 

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6.8. The prize is not negotiable or transferable and non-monetary prizes will not be redeemable for cash.

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6.9. Prodrive Ventures does not accept any responsibility if the winner is not able to take up the prize.

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7. Prodrive Ventures’ rights

 

7.1. Prodrive Ventures reserves the right at its sole discretion to:

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7.1.1. hold void, cancel, terminate, modify or suspend TRC in whole or in part at any time;

7.1.2. amend these Terms.

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7.2. Prodrive Ventures may at any time exclude any entrant from participating in TRC or from the premises at which TRC is held if:

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7.2.1. there is any reason to believe that such entrant (or his/her team member) has breached these Terms; or

7.2.2. such entrant (or his/her team member) has undertaken or undertakes any activity that may bring Prodrive Ventures, the Partners, or other individuals or businesses connected with TRC or participating in TRC into disrepute.

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7.3. Prodrive Ventures reserves the right at any time to exclude from TRC or the premises at which TRC is held any person whose behaviour is, in Prodrive Ventures’ sole opinion, unacceptable, nuisance or annoyance to others. 

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8. Protecting your ideas

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8.1. Prodrive Ventures is not responsible for obtaining or verifying any intellectual property rights relating to a TRC entry application. It is the responsibility of the entrant(s) to secure an adequate level of protection for the project which is being entered before submission of the relevant entry and to take any relevant legal advice. Prodrive Ventures reserves the right to demand proof of any patents, design applications or registrations, trademark applications or registrations, other rights, permissions or applications which are referred to in the entry.

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8.2. By submitting an entry, each entrant confirms that they are the owner or licensee of all appropriate intellectual property (and moral rights) in the project. 

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8.3. The entrants accept that they are responsible for applying for patent protection in respect of their idea before submitting it to TRC if they consider patent protection appropriate.

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8.4. The entrants accept and understand that they may not be able later to apply for patent protection for an idea, which they have disclosed on a non-confidential basis.

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8.5. The entrants shall not include more detail about their idea than the feel comfortable with or than is indicated in the application form, and if in any doubt, leave it out. However, the entrants should note that, if insufficient detail is provided by them in the application form for the judges to make a proper assessment of their idea, they may not be contacted for further information and their application may be rejected.

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8.6. Prodrive Ventures may require the entrants to enter into a confidentiality agreement with Prodrive Ventures and/or the Partners.

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9. Intellectual Property rights

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9.1. The entrants warrant to Prodrive Ventures that they created their TRC entries, that they own all of the copyright in those entries, and that Prodrive Ventures’ use of the entries in accordance with these terms will not infringe any person's intellectual property rights or other legal rights.

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9.2. The entrant shall fully indemnify, keep indemnified and hold harmless Prodrive Ventures, the Partners and the Prodrive group of companies against any and all costs, expenses, damages, losses or liabilities (including legal expenses and amounts reasonably paid in settlement of legal claims) suffered or incurred by Prodrive Ventures, the Partners and/or the Prodrive group of companies (howsoever arising) as a result (directly or indirectly) of the entrant’s infringement of intellectual property rights of a third party or arising out of or in connection with any claim, demand or action alleging that the use of the relevant entry by Prodrive Ventures, the Partners and/or the Prodrive group of companies in accordance with these Terms infringes or has infringed any intellectual property rights of a third party. For the avoidance of doubt, where the relevant entry is submitted by a team, the liability of each team member under this clause shall be joint and several.  

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9.3. Subject to clause 9.4, each entrant hereby grants Prodrive Ventures and the Partners a worldwide, irrevocable, perpetual and royalty-free licence (with right to sub-license) to use, display, copy, store, edit, alter, distribute, transmit, publish, disseminate and adapt the entrant’s entries, including without limitation the right for Prodrive Ventures and each of the Partners to share entrants’ business plans with potential investors who in that party’s reasonable opinion may be interested in investing on or collaborating with such entrant. 

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9.4. For the purposes of clause 9.2 and clause 9.3 “entry” and “entries” shall include the relevant application materials and any documents, materials or entries which the entrant is required to submit as a part of TRC.

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9.5. All intellectual property rights in the project shall at all times remain (as between the parties) the property of the entrant(s). Nothing in these Terms or by the entrant’s participation in TRC shall operate to assign or license (save as expressly stated in clause 9.3) any intellectual property rights in the invention to Prodrive Ventures or any third party (including without limitation the Prodrive Ventures’ group of companies).

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10.Data protection and publicity

 

10.1. Prodrive Ventures will only process the entrants’ personal information as set out in its privacy policy which can be found via the following LINK. The Partners will only process the entrants’ personal information as set out in their respective privacy policies, the links to which shall be set out on the Challenge Website. See also clause 6.2 and clause 10.3 with regard to the announcement of winners.

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10.2. The entrants shall not undertake any activity that may bring Prodrive Ventures, the Partners or the individuals or businesses which are connected with TRC into disrepute.

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10.3. Prodrive Ventures and the Partners may undertake publicity activities relating to TRC and prize award. Prodrive Ventures and the Partners may publish and/or arrange for the publication of prize winners, Finalists and entrants that reach the Interview stage(including details of all persons which are part of the team), prize details and details of the projects.

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10.4. The Finalists of TRC may be required, without additional payment, to:

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10.4.1. cooperate with Prodrive Ventures in order to announce the results and the winner of TRC; and

10.4.2. acknowledge Prodrive Ventures’ support and use its name and logo and any other names connected with TRC, in any promotional materials the entrant may produce only in the form and for the period approved by Prodrive Ventures in writing.

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10.5. The entrants accept that Prodrive Ventures may make reasonable use of the Finalists’ details, pitch deck, details of the relevant business and project in its advertising and promotional materials.

10.6. The entrants acknowledge that participation in any promotional or publicity activities does not guarantee that they will receive a prize.

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11. Liability and Termination

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11.1. Nothing in these Terms shall be deemed to limit or exclude the liability of any party for death or personal injury caused by that party’s negligence, fraud, or any other liability which cannot by law be validly limited or excluded. 

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11.2. Subject to clause 11.1, neither Prodrive Ventures nor the Partners shall be liable to the entrants in respect of:

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11.2.1. any losses arising out of an event which is outside Prodrive Ventures’ or the Partners’ (as appropriate) reasonable control;

11.2.2. any loss of profits or anticipated savings;

11.2.3. any loss of revenue or income;

11.2.4. any loss or production;

11.2.5. any loss of business, contracts or opportunities;

11.2.6. any loss or corruption of any data, database or software; or

11.2.7. any special, indirect or consequential loss or damage.

 

11.3. Neither Prodrive Ventures nor the Partners give any guarantee as to the outcome of the entrants’ application to or participation in TRC.

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11.4. Insofar as is permitted by law, neither Prodrive Ventures nor the Partners will in any circumstances be responsible or liable to compensate the winner or accept any liability for any loss, damage, personal injury or death occurring as a result of taking up the prize except where it is caused by their negligence or the negligence of their agents or distributors or that of their employees.

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11.5. An entrant may at any time withdraw an entry from the TRC on written notice to Prodrive Ventures through the Challenge Website contact channel. When an entry has been submitted by a team, an entry shall not be deemed to be withdrawn unless and until each team member has notified Prodrive Ventures of this in writing.

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11.6. Prodrive Ventures’ termination rights are set out in clause 7.

 

12. General

 

12.1. These Terms shall be governed by English law, and the parties submit to the exclusive jurisdiction of the courts of England and Wales.

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