Rules and Conditions
Rules and Conditions 2008
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 2004.
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 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 7th March 2008 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.
5. Knowledge Dock will hold a series of workshops during February 2008 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.
6. A shortlist of fifteen finalists will be announced to proceed to the Finalists’ stage of the competition on the 10th March 2008.
7. 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.
8. All finalists will be required to participate in a film documentary about the competition. Knowledge Dock will retain all copyright arising from the documentary.
9. Finalists are required to submit an electronic copy of the Executive Summary by 12 noon, Friday 18th April 2008 to Knowledge Dock info@knowledgedock.com. Late applications will not be accepted!
10. Each finalist will be expected to make a ten minute presentation to a panel of judges on the 23rd April 2008. 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 Friday 18th April 2008 to Knowledge Dock info@knowledgedock.com.
11. A shortlist of five finalists will be announced to proceed to the Grand Finale stage of the competition on the 24th April 2008.
12. Finalists in the Grand Finale stage of the competition are required to attend an ‘Investment Ready’ workshop – the five finalists will be alerted by email when the workshop will take place. The five finalists will also be assigned a Bank Manager Mentor to help them refine their business plan. 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.
13. The top five finalists are required to submit six copies of the full Business Plan (no more than ten pages long excluding appendices) by 12 noon, Friday 9th May 2008. 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 hand delivering, 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.
14. Each of the five finalists will be expected to make a two minute elevator pitch to a panel of judges at the E-Factor Grand Finale on the 14th May. 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 Friday 9th May 2008.
15. Each of the five finlaists will be required to submit a one-page investment proposal which will be distributed to invited guests on the evening of the Grand Finale. Copies of the one-page investment proposal must be submitted to Knowledge Dock at info@knowledgedock.com by 12 noon, Friday 9th May 2008.
16. The judges’ decision is final.
17. Late applications will not be accepted.
18. 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.
19. 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.
20. The winning entrant(s) must use the grant money to set up a business as outlined in their Business Plan.
21. The winning entrant(s) will be required to set up their business within the Knowledge Dock HotHatch for a minimum duration of one year.
22. 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.
23. No purchase is necessary to participate in the competition.
24. 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.
25. 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.
