1. These terms and conditions apply to the venture capital pitch competition conducted by the Promoter (Competition).
2. The Promoter of the Competition is Oxygen Ventures Pty Ltd ACN 158 444 118 (Oxygen).
3. Entry to the Competition is open to individuals and companies resident in Australia who are interested in receiving equity funding in order to introduce or commercialise new technology. Employees of Oxygen, any companies in which Oxygen currently has an equity interest, and associated entities of such persons are not eligible to enter.
4. The Competition will be conducted as follows:
- Entrants must submit their entry electronically using the entry form on Oxygen’s website www.thebigpitch.com.au by 5pm on 15 May 2015.
- The entry must give sufficient information to enable the judging panel to assess the entry and the entrant’s funding proposal (both in terms of value and equity share that would be offered).
- Any commercially confidential information provided as part of the entry must be marked clearly. Oxygen will maintain the confidentiality of any such information and will not disclose that information to any person other than Oxygen and members of the judging panel.
- At the time of submitting their entry, the entry will be allocated to one of the following cities, based on the state or territory where the entrant is located:
- State Finals: Oxygen’s judging panel will assess all eligible entries and shortlist up to 20 entries in each City to make a brief pitch presentation to Oxygen’s judging panel. Shortlisted entrants will be advised by phone and email on or before 24th April, 2015 (AEST). Shortlisted entrants must not disclose the fact they have been shortlisted without the prior written consent of Oxygen. By mutual agreement, the Promoter may permit the presentation to be made online or by phone/video conference.
- Competition finalists: After conducting the State Finals, the Promoter will select up to 5 Competition finalists and inform these entrants on or before 15 June 2015. The Promoter reserves the right to select more than one Competition finalists from a City and also not to select any Competition finalists from a City. Competition finalists must not disclose the fact they have been selected without the prior written consent of Oxygen.
- Competition finalists will make a public presentation of their pitch at The Big Pitch Event on 30 June 2015. Each presentation will be limited to 5 minutes, followed by a 5 minute question and answer session. Additional conditions in relation to the short-listed presentations will be provided when short-listed entrants are notified.
- At the conclusion of The Big Pitch Event, the entrant that the judging panel considers to have the strongest business case for Oxygen investment will be declared the winner of the Competition.
- The winner will be offered a terms sheet signed by Oxygen setting out the proposed terms on which Oxygen proposes to invest in the opportunity presented. There is no obligation on the winner or any other entrant to:
- sign the terms sheet
- accept any proposal made by Oxygen
- proceed with any investment by Oxygen.
6. Each entrant agrees that by entering into this Competition, Oxygen will be permitted to:
- market its services to them using the entrant’s entry details;
- publish the contents of their entry, except for those aspects clearly marked confidential; and
- seek to enter discussions with any entrant in relation to possible investment, regardless of whether or not that entrant is a winner or finalist in the Competition.
6. If for any reason any aspect of this promotion is not capable of running as planned, including by reason of infection by computer virus, mobile network failure, bugs, tampering, unauthorised intervention, fraud, technical failures or any cause beyond the control of the promoter which corrupts or affects the administration, security, fairness, integrity or proper conduct of this Competition, the Promoter may in its sole discretion cancel, terminate, modify or suspend the Competition, or invalidate any affected entries.
7. The promoter accepts no responsibility for any tax implications that may arise from the prize winnings. Independent financial advice should be sought. Where the operation of the promotion results in, for Australian GST purposes, supplies being made for non-monetary consideration, entrants agree to follow the Australian Taxation Office’s stated view that where the parties are at arm’s length, goods and services exchanged are of equal GST inclusive market values.