BlueTech Competition

1. The startup must focus on technology entrepreneurship, which can be applied only in industries and sectors related to Blue Economy (for example Shipping/Ports, Marine transport, Shipbuilding, Fishery, Aquaculture, Marine construction, Offshore Oil/Gas, Marine/Coastal tourism, Seabed mining, Offshore renewables, Aqualife, Business services, Hightech marine services, Marine R&D, Safety & Surveillance etc).
2. Submissions should be made as a team.
3. Participating Teams must comprise a minimum of 2 and a maximum of 5
4. Each Participating Team may submit only one entry in the Competition and in one track.
5. Submissions must be the original work of the Participating Team, and members assert ownership and rights to the ideas, startup, and business plan. They confirm not to violate any third-party rights and to avoid disclosing proprietary or confidential information.
6. All Participating Team Members must be 18 years or older.
7. No entry fee is required.
8. Participating Teams must disclose any received funding at the time of Submission.
9. Startup previously funding must not exceed €500.000.
10. Eligible teams must submit applications online within specified dates; no late entries will be accepted.
11. If selected, at least one member of the Participating Team must attend all required online sessions and the final awards ceremony.
12. Cymothoe Initiative can disqualify any Submission violating Competition guidelines or rules. Decisions are final, with violations resulting in disqualification and loss of prizes.
13. Immoral activities will lead to disqualification at the Cymothoe Initiative’s discretion.
14. Teams must take steps to protect intellectual property in their Submission.
15. Submission content may be shared by Cymothoe Initiative for competition or publicity purposes and is not considered confidential.
16. Participating Teams agree to the upload of pitch videos to Cymothoe Initiative website and/or platform.
17. Teams can only use technologies with permission and explicit consent from the intellectual property owner.
18. Participating Teams must comply with all applicable laws related to their Submission and participation.
19. The eligibility of Participating Teams involving gray area funding will be deliberated by the Cymothoe Initiative
20. Teams with legal doubts are encouraged to seek independent legal counsel.
21. Competition prizes must be used to develop the startup or idea.
22. Cymothoe Initiative is not responsible for agreements between Participating Teams or Team Members and third parties.
23. Use of Cymothoe Initiative names or logos requires written permission.
24. Participating Team Members hold harmless Cymothoe Initiative in legal actions involving the team or its Submission.
25. Materials submitted become the property of Cymothoe Initiative and will not be returned.
26. Cymothoe Initiative in no event shall be liable for any advice, information or decisions made in the course of the competition or for direct, indirect, incidental, consequential or special damages of any kind, including economic damages or injury to property and lost profits, regardless of whether the party or parties had been advised, shall have other reason to know or did know of the possibility of such damages.
27. All Participating Teams agree to participate in media and press opportunities related to the Competition. These opportunities include but are not limited to I. Cymothoe Initiative may ask all Participating Teams to provide a short written description that will be made available to the media and may be released publicly, either in part or in its entirety. II. All Participating Teams may be asked to speak to the media for Competition related interviews when requested by Cymothoe Initiative. III. All Participating Teams may be asked to provide quotes and/or content for any Competition related press releases. IV. Participating in media and press opportunities in no way requires Participating Teams to disclose any proprietary or otherwise confidential information related to their businesses. Upon request, Cymothoe initiative agrees to provide consultation to any team to avoid such disclosures while participating in press-related opportunities.

Glossary

CYMOTHOE INITIATIVE = Cymothoe Initiative’s representatives, directors, managers, advisors, judges, mentors, organizers.

PARTICIPATING TEAMS = competition participants.

SUBMISSION = video, business plan, idea, and all information in the competition application.

THE COMPETITION = Cymothoe Initiative “BlueTech Competition.”

INSTITUTIONAL FUNDING = funding from institutional investors.

NON-INSTITUTIONAL FUNDING = all other funding.

WRITTEN DESCRIPTION = short written description provided by Participating Team.

PRIZE WINNERS = Participating Teams receiving a prize.