Rules & Eligibility
There is no fee for entry.
Submissions may be entered by individuals or teams.
Each team may enter only one idea.
A single individual cannot be a member of more than one team.
Entries must be the original work of entrants.
Company is no more than 24 months old as of January 1, 2017.
Cumulative revenue has not exceeded $100,000 as of January 1, 2017
Teams must disclose any funding already received at the time of registration.
Teams must not have accepted any institutional funding for the idea being presented (i.e. the team cannot have sold equity to anyone outside the team – including non-managing founders).
There are forms of funding that may fall into a gray area. In these cases, the Organizing Committee will deliberate on the eligibility and communicate the decision to the team. The decision of the Organizing Committee on the eligibility of the entrant is final and cannot be appealed.
The Judging Panel reserves the right to disqualify any entry.
By submitting a business plan, you represent and warrant to the challenge that you have all right, title and/or interest in the business plan submitted and the information it contains is accurate and complete, and that by submitting the document to the challenge you are not and will not be violating any contract or third party rights including any patent, copyright, trade secret, proprietary or confidential information, trademark, publicity or privacy right.
The Judging Panel of the challenge reserves the right to disqualify any entry that in its judgment violates the letter or the spirit of the challenge guidelines, processes and rules of the challenge. The decisions of the Judging Panel are final and binding.
Equal shares of any prize money won will be paid to each individual on a winning team.
The individual recipients of prize money will be responsible for the tax implications of their winnings.
Teams may forfeit their individual shares of prize money in favor of granting the full amount of the prize money to a registered business entity if, and only if, all of the following conditions are met:
Team’s business entity has a Federal Tax Identification Number (also known as an Employer ID Number) by 15 days prior to the finals date.
All members of the team have agreed in writing to forfeit their individual portions of the prize money in favor of granting the full amount of the prize money to the registered business entity.
Winner(s) will give Signet exclusive period of three (3) months (with additional three (3) month option) for due diligence on
potential future partnership. During the exclusivity period, winner(s) cannot solicit additional investment(s)/