NBIC Business Idea Competition 2012 Terms and Conditions 1 ...

cover page). Font should be Arial/Times Roman, size 12, spacing 1.5. The template isdownloadable for free from the NBIC website (www.nbic.org.na) or can be requestedfrom nbic@polytechnic.edu.na or snewaka@polytechnic.edu.na.Handwritten submissions (optional) are only accepted from rural residents withoutaccess to computers (PCs). Participants choosing this option should however, provideadditional information and proof of where they come from and, reason for ahandwritten submission. Submission should be a maximum 500 words (excludingcover page and additional information).Business name (optional), names of member(s) and full contact details shall onlyappear on the cover page, nowhere else in the content. Only the business ideashould be footnoted on each page of the submission.Submission deadline for business idea competition is 17 th April 2012. No submissionwill be accepted after the stated deadline.All participants will receive professional feedback on their submissions.4. Judging proceduresAll business ideas submitted before or on 16 th April 2012 shall automatically enterthe competition and are subject to judgement in following steps process.Step 1: Pre-screening: Only business ideas that have been submitted in compliancewith the above eligibility and rules for submission criteria will be considered for nextsteps. NBIC staff member will verify the completeness of submission and adherencewith all formal requirements.Step 2: Judging of business idea by a panel of internal judges: All business ideas thatmeet the eligibility criteria and are complete will undergo internal judging by NBICstaff or affiliates. During this stage, the ten best business ideas will be selected.Judges will rate according to the evaluation criteria annexed to this document.Step 3: Judging of business idea by a panel of external judges. The ten (10) bestbusiness ideas that emerge from step 2 will be judged by a team of external judgescomprising of members from the public or private sector. They will be using the samerating as in step 2. Participants may be requested to a pitch presentation of theirrespective ideas (NBIC will inform the participants during the process if desired bythe external judges).2

The judges’ decisions are final. No correspondence and discussions will be enteredinto after judgement.5. AwardsThe top ten (10) participants in the competition determined after steps 2 & 3 will winprizes.PrizesWinner: N$ 3000.00 Laptop Free participation at NBIC Programme organised by I’M, Entrepreneurship and R&D(Social Media Marketing, Bootcamp and IT Training) NBIC T-Shirt2 nd : N$ 2000.00 16 GB memory stick Free participation at NBIC Programme organised by I’M and, Entrepreneurship (SocialMedia Marketing and Bootcamp) NBIC T-Shirt Participation Certificate3 rd : N$ 1,500.00 16 GB Memory Stick, Free participation at NBIC Programme organised by I’M (Social Media Marketing) NBIC T-Shirt Participation Certificate4 th -10 th : NBIC T-shirts Participation CertificateNone cash prizes will not be exchanged for cash at anytime.Please note, prizes are subject to change without prior notice for whatever reason.3

6. ConfidentialityAccess to submitted business idea is only granted to NBIC and only to the membersof its judging panels. All reasonable steps are taken by NBIC to limit access to thesubmitted documents on a needs basis.However, NBIC assumes no guarantee of confidentiality.The identities of the participants and the content of the business idea submitted areconsidered of public domain and, accordingly, can be used by NBIC for marketing andpublic relations purposes.Aspiring entrepreneurs who feel they cannot agree to these terms are encouraged tosubmit their business idea to NBIC outside the competition at anytime.7. DisclaimerThe participant understands that NBIC and its affiliates shall not be responsible forunauthorized duplications or use of the participant’s business idea by third parties.The participant hereby releases the NBIC and its affiliates from any and all claimsand/or damages that may arise regarding the use, reproduction, display, distribution,and/or sale of the participant’s business idea and/or statements made by theparticipant as consented to herein, including any claims of defamation, invasion ofprivacy or infringement of moral rights, rights of publicity or copyright.NBIC makes no representations or warranties of any kind concerning thecompetition, express or implied. In no event shall NBIC and its affiliates be liable forany advice, information or decision made for or on behalf of the NBIC Business IdeaCompetition or for incidental or consequential damages of any kind, includingeconomic damages or injury to property and lost profits, regardless of whether NBICshall be advised, shall have other reason to know or in fact shall know of thepossibility of the foregoing.The Competition may be cancelled in case of less than 10 participants/ submissions.4