TERMS and conditions
CoLab INC LaunchU Pitch
Terms & Conditions
WHEREAS, CoLab, Inc., an Idaho non-profit corporation having its principal office at 4481
N. Dresden Place, Garden City, Idaho 83714 (“CoLab”) intends to hold a competition known as LaunchU wherein ideas and business plans submitted Qualified Entrants (defined herein) shall be considered for an award of cash and other prizes (the “LaunchU Competition”); and
WHEREAS, you desire to enter into and participate in the LaunchU Competition and are willing to abide by the following Terms and Conditions.
NOW THEREFORE, CoLab herein sets for these Terms and Conditions which apply to and govern the LaunchU Competition and Event.
- By entering the LaunchU Competition, you are deemed to have read and accepted these terms and conditions.
- Definitions. In addition to those set forth elsewhere herein, these Terms and Conditions of entry, unless otherwise indicated:
- The term “Registration Form” shall mean the LaunchU Competition registration webpage available at colabinc.org
- The term “Deadline” shall mean January 10, 2021 11:59 pm MST.
- The term “Institution” shall refer to the college or university which shall be hosting the Final Event (defined herein) and from which Qualified Entrants may be enrolled.
- Any reference to ‘entrant’, ‘you’, or ‘your’ means the individual or group of individuals (or the representative of such group) who is named on the contact details section of the Registration Form.
- Any reference to ‘the entry’ means the project or business idea conceptualized by the entrant and entered by such entrant for consideration in the LaunchU Competition.
- The term “Contest Rules” shall mean those rules which govern the LaunchU Competition and by which all entrants must abide in order to be considered a Qualified Entrant (defined herein) and to be eligible to receive a prize.
- The term “Qualified Entrant” shall mean an entrant who has complied with these Terms and Conditions and the Contest Rules and thereby submitted its Qualified Entry (defined herein) in the LaunchU Competition.
- The term “Qualified Entry” shall mean an entry which has been submitted by a Qualified Entrant in compliance with these Terms and Conditions and the Contest Rules.
- The term “Finalist” shall mean those Qualified Entrants whose Qualified Entry has been selected by CoLab to be presented at the Event for award consideration.
- The term “Final Event” shall mean a live event at the conclusion of the LaunchU Competition during which Finalists shall present their Qualified Entry for award consideration, and at which the LaunchU Winners (defined herein) shall be selected.
- The term “LaunchU Winner(s)” shall refer to those Qualified Entrants who are awarded First, Second, and Third place at the Final Event.
- The term “Moxie Competition” shall mean a subsequent competition in which First Place and Second Place LaunchU Winners may receive an invitation to compete for additional prizes.
- Submission of Entry; Eligibility.
- The LaunchU Competition is open to any individual or group of individuals who are enrolled full-time undergraduate students at the Institution, as defined by the Institution. In the event that the entrant is a group of individuals, all members of the group must be full-time students at the Institution.
- CoLab principals and employees, and their family members, are not eligible.
- An entrant may only submit one (1) entry.
- All entries must be submitted through the Registration Form on or before the Deadline.
- CoLab shall not be responsible for technical errors in telecommunication networks, internet access or otherwise, preventing entry at the Registration Form.
- LaunchU Competition; Contest Rules.
- The LaunchU Competition, including submission criteria, is described within the LaunchU “Launch Your Future” document available for download at https://795f438c-c19b-4d1c-b9f6- 87e27ec8a954.filesusr.com/ugd/cf54af_b1aaf21cb6c1453cadf6f7681340400c.pdf
, which by this reference is incorporated herein as if set forth in full.
- The Contest Rules by which all entrants must abide may be found at Appendices B and C of the “Launch Your Future” document.
- CoLab reserves the absolute and unqualified right to remove from the LaunchU Competition any entry or entrant deemed to be in violation of the Contest Rules or these Terms and Conditions at any time.
- CoLab, in its sole and absolute discretion, shall judge the Qualified Entries in order to select the Finalists and the LaunchU Winners. CoLab’s decisions are final and no correspondence or discussion will be entered into regarding the judging process or any outcomes reached.
- Prizes. Prizes in the form of limited investments shall be awarded to the finalists taking first, second, and third place, to be paid by CoLab, as follows:
- First Place: $5,000. In addition, the first-place winner may (but is not guaranteed to) receive an invitation to participate in the Moxie Competition, in which case travel and lodging expenses shall be paid for up to two (2) members of the entrant’s team; five (5) hours of mentorship.
- Second Place: $3,000. In addition, five (5) hours of mentorship.
- Third Place: $2,000. each, a “Prize Amount.”
CoLab shall make payment or cause payment to be made of the foregoing prizes by issuance of a check to the winning Finalists within ninety (90) days of the Final Event.
- Confidentiality, privacy, and personal information. In the event that the entrant becomes a Finalist, such Finalist’s name, age, location, photograph, and submission materials may be published by CoLab, including – but not limited to – in its promotional material, website, social media platforms, and printed material. CoLab shall collect but not publish all entrants’ phone numbers, physical addresses, and email addresses for the purpose of contacting entrants with respect to the LaunchU Competition. Data and submission material received from entrants will be shared with the entrants’ respective academic institutions. CoLab will not use entrant’s personal information for any purpose not stated herein. Should an entrant’s contact details change during the LaunchU Competition, it is the entrant’s responsibility to notify CoLab.
- Representations. By submitting an entry, the entrant warrants and represents that the entry submitted is the entrant’s own work and does not infringe on the copyrights, trademarks, moral rights, rights of privacy, rights of publicity, or intellectual property rights of any person or entity, and that no other person or entity has any right, title, claim, or interest in the entry.
- CoLab reserves the absolute and unqualified right to remove any entry from competition which is determined to violate the foregoing representation.
- The entrant agrees to indemnify CoLab and its partners, affiliates, subsidiaries, agents, employees, officers, directors, representatives, and principals from any claim or action by a third party in relation to entrant’s breach of the foregoing representation, including – but not limited to – entrant’s unauthorized use of copyrighted material.
- By submitting an entry, the entrant agrees to release, discharge, and hold harmless CoLab and its partners, affiliates, subsidiaries, agents, employees, officers, directors, representatives, and principals from any claim, loss, injury, or damage
arising directly or indirectly out of the entrant’s participation in the LaunchU Competition or any related activities including breach of any copyright.
- CoLab reserves the absolute and unqualified right to change, cancel, postpone, amend, or withdraw the LaunchU Competition, including but not limited to the Contest Rules and/or prize(s), at any time.
- CoLab and its partners, affiliates, subsidiaries, agents, employees, officers, directors, representatives, and principals shall not be liable for any injury, damages, expenses, or loss whatsoever (whether direct or indirect) to persons or property as a result of or arising from the submission of any entry.
- CoLab and its partners, affiliates, subsidiaries, agents, employees, officers, directors, representatives, and principals shall assume no liability resulting from losses, delays, mistaken addresses on email received, typographical errors, technical, computer or telephone malfunctions, loss or theft of computer or telephone data, damage to software or computer equipment, fraudulent calls or any other mistake.
- Construction. The following rules of construction shall apply to these Terms and Conditions:
- The headings in these Terms and Conditions shall not affect construction or interpretation.
- Unless the context clearly indicates to the contrary, (a) the plural includes the singular and the singular includes the plural; (b) “and” and “or” are each used both conjunctively and disjunctively; (c) “any,” “all,” “each,” or “every” means “any and all,” and “each and every”; (d) “includes” and “including” are each “without limitation”; (e) “herein,” “hereof,” “hereunder” and other similar compounds of the word “here” refer to the entirety of these Terms and Conditions and not to any particular paragraph or section; and (f) all pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the entities or persons referred to may require.
- Unless the context clearly indicates to the contrary, any reference herein to any specific Section of these Terms and Conditions shall be deemed to include that Section’s subsections and subparts.
- If any part of these Terms and Conditions is invalid or unenforceable, this agreement does not include it. The remainder of the terms and conditions continue in full force.
- Event Details Subject to Change. The date, location, and name of the Event are all subject to change at the sole and absolute discretion of CoLab.
- Governing Law; Forum and Venue; Jury Trial Waiver. These Terms and Conditions shall be governed by the substantive statutes and common law of Idaho, other than its choice of law provisions. Any litigation which may arise in relation to these Terms and Conditions shall be filed and prosecuted in the District Court of Ada County, Idaho. In the event of such litigation, the parties waive their right to a trial by jury.
- No Assignment. Entrants may not assign their rights under these Terms and Conditions to any other person or entity.
- Taxes. The value of any prize awarded to a LaunchU Winner may be reported for tax purposes as required by law. Each LaunchU Winner is solely responsible for reporting and paying any and all applicable taxes related to the prize(s) and paying any expenses associated with any prize which are not specifically provided for in the official rules. Each LaunchU Winner must provide CoLab with valid identification and a valid taxpayer identification number or social security number before any prize will be awarded. Any person winning over $600 in prizes from the Company will receive an IRS form 1099 at the end of the calendar year and a copy of such form will be filed with the IRS.
BY SUBMITTING YOUR ENTRY, YOU ACKNOWLEDGE AND AGREE TO THE FOREGOING TERMS WITHOUT RESERVATION.