Rules and Conditions 2009/10

1. The competition is open to all current registered students at the University of East London (UEL). Recent graduates can apply if they have graduated from UEL no earlier than January 2007. 
 
NB Student and recent graduate status will be verified.
 
2. Individuals or teams can enter, however there must be one point of contact supplied for the team for all correspondence. 
 
3. Applicants are restricted to one entry to the competition.

4. To enter the competition, applicants are required to deliver a 1 minute pitch of their business idea to a panel of judges at the ‘E-Factor Auditions’, held throughout the month of November 2009. Based on the initial one minute pitch, the judges will shortlist which business ideas will proceed to the next stage of the competition. The judges decision is final.

5. At the nedxt stage of the comptition, applicants will be required to submit an electronic copy of the Entry Form, which includes a 500 word Business Summary outlining their business idea by 12 noon, Friday 11th December 2009 to Knowledge Dock at info@knowledgedock.com. Knowledge Dock will issue an electronic receipt containing a unique reference number within 24 working hours of receiving your application. Applicants are advised to keep their unique reference number in a secure area.  
 
6. Knowledge Dock will hold a series of workshops during November and December 2009 to help applicants develop a robust application. Whilst these workshops are not mandatory, applicants are strongly advised to attend in order to help them devise a robust application.
 
7. A shortlist of ten finalists will be announced to proceed to the Finalists’ stage of the competition on Wednesday 16th December 2009.
 
8. In stage two of the competition finalists will be required to attend a series of workshops that will help them develop a Business Plan and Presentation. Finalists will be alerted to the date of the workshops by email. Finalists will also be assigned an Industry Mentor to guide them through the development of their Business Plan and Presentation. The onus is on the finalist and mentor to arrange a mutually convenient time to meet and discuss the business plan. Knowledge Dock is not responsible for helping the finalists to arrange meetings with their assigned mentor.
 
9. All finalists will be required to participate in a film documentary about the competition. Knowledge Dock will retain all copyright arising from the documentary.

10. The top ten finalists are required to submit  five copies of the full Business Plan (no more than ten pages long excluding appendices) by 12 noon, Wednesday 17th March 2010.  It is recommended that full Business Plans are sent by registered post or hand delivered to: Thorsten Klein, Enterprise Factor Business Plan Competition, Room KDG11, Knowledge Dock Centre, University of East London, University Way, London, E16 2RD. Late applications will not be accepted! (If you choose to deliver your plans in person, please get a receipt from the person to whom you have delivered it). Finalist are also required to submit an electronic copy of their business plan to Knowledge Dock at info@knowledgedock.com.

11. Each finalist will be expected to make a ten minute presentation to a panel of judges on Wednesday 24th March 2009. Finalists will be alerted to the time they are expected to present by email. Finalists are required to submit an electronic copy of their presentation by 12 noon on Wednesday 17th March 2010 to Knowledge Dock info@knowledgedock.com.
 
12.  Each is required to deliver a five minute elevator pitch to a panel of judges at the E-Factor Grand Final on the Wednesday 24th March 2010. Should finalists wish to use a PowerPoint presentation as part of their elevator pitch, electronic copies must be submitted to Knowledge Dock at info@knowledgedock.com by 12 noon Wednesday 17th March 2010.
 
13. Each finalist will be required to submit a one-page investment proposal which will be distributed to invited guests on the evening of the Grand Final. Copies of the one-page investment proposal must be submitted to Knowledge Dock at info@knowledgedock.com by 12 noon, Wednesday 17th March 2010.
 
14. The judges’ decision is final.
 
15. Late applications will not be accepted.
 
16. All applications will be held in confidence. It is the responsibility of the entrant to confirm that they have the right to exploit the intellectual property contained in their plan and to take appropriate steps to protect it.
 
17. Grant monies will only be paid by cheque or bank transfer to the name of the winning business. The Winner(s) will be required to have (or create) a business account into which prize monies can be deposited.
 
18. The winning entrant(s) must use the grant money to set up a business as outlined in their Business Plan.
 
19. The winning entrant(s) will be required to set up their business within the Knowledge Dock HotHatch for a minimum duration of one year.
 
20. The winning entrant(s) will be required to provide an update of their business progress to Knowledge Dock quarterly. Knowledge Dock reserves the right to publish this information.
 
21. No purchase is necessary to participate in the competition.
 
22. Knowledge Dock reserves the right to make any changes to the rules and conditions of the competition. Finalists will be sent electronic notification of any changes within 48 hours of them being made. 
 
23. E-Factor is only open to entrants who currently do not trade as an incorporated company i.e. those that have not started up a company yet.

24. Knowledge Dock reserves the right to reject any application or plan that is not submitted in accordance with the stated format.