Terms and Conditions

CyEC Accelerator & Launchpad Programs
Last updated: 10/10/2023

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1. Introduction

1.1 These Terms & Conditions (“Terms”) govern the participation of startups, teams, or individuals (“Participants”) in the Cyprus Entrepreneurship Competition (“CyEC”) programs, including but not limited to the CyEC Accelerator and CyEC Launchpad tracks (collectively referred to as the “Program”).

1.2 The Program is operated and managed by CyEC at the University of Cyprus (“Organizer,” “we,” “us,” “our”).

1.3 By submitting an application to the Program and/or participating in any CyEC activities, Participants acknowledge and agree to comply fully with these Terms.

1.4 The Organizer reserves the right to modify or update these Terms at any time. Notice of material changes will be provided via email or publication on the CyEC website. Continued participation constitutes acceptance of the updated Terms.

2. Eligibility & Application

2.1 The Program is open to early-stage entrepreneurs (see criteria), researchers, students, and startups that meet the eligibility criteria published on the official CyEC website.

2.2 Participants may apply to one or more Program tracks (e.g., Accelerator or Launchpad), subject to the eligibility and capacity of each track.

2.3 Applications must be submitted before the published deadline. Late submissions will not be considered.

2.4 The Organizer reserves the right to reject any application at its sole discretion and without obligation to provide a justification.

2.5 All accelerator workshops as well as the final presentations are carried out in English.

3. Selection & Admission

3.1 Applications are reviewed and evaluated based on criteria determined by the Organizer, which may include innovation, market potential, team capacity, impact, and feasibility.

3.2 Selected Participants will receive written notice of admission. Admission is non-transferable.

3.3 The Organizer may revoke participation or disqualify a team if the Participant fails to comply with Program rules, deadlines, or conduct standards.

3.4 Participation in the Launchpad does not automatically grant entry to the Accelerator, and vice versa. Selection to each track is independent.

4. Program Participation Obligations

4.1 Participants must engage actively in required activities such as workshops, mentoring sessions, pitch events, and networking activities.

4.2 At least one team member must be present at key mandatory sessions, as defined by the Organizer.

4.3 Participants agree to submit deliverables, such as pitch decks, progress reports, business models, or presentations, according to Program timelines.

4.4 Participants are expected to maintain professional and respectful conduct throughout the Program. The Organizer may remove any team or individual who engages in disruptive, discriminatory, or unethical behavior.

5. Intellectual Property (IP)

5.1 Participants retain full ownership of all pre-existing intellectual property.

5.2 Any new IP developed solely by a Participant during the Program remains the property of that Participant.

5.3 Participants grant the Organizer a non-exclusive, royalty-free, worldwide license to use their team name, logo, project title, description, and non-confidential materials (including photographs, video recordings, and presentations) for promotional, educational, reporting, and marketing purposes.

5.4 Participants represent and warrant that their project and submitted materials do not infringe any third-party rights. Participants agree to indemnify the Organizer against any related claims.

6. Confidentiality

6.1 Participants and the Organizer may exchange confidential information during the Program. Each party agrees to maintain confidentiality and use such information only for Program-related purposes.

6.2 Confidentiality obligations do not apply to information that:
(a) is or becomes publicly available without breach;
(b) was known prior to disclosure;
(c) is received lawfully from a third party; or
(d) is independently developed without using the other party’s confidential information.

6.3 These obligations survive termination of participation for a period of five (5) years.

7. Prizes, Grants & Funding

7.1 The Organizer may award prizes, grants, or investments to selected Participants, subject to availability and evaluation outcomes.

7.2 Any funding, prize, or grant is subject to additional agreements specifying terms of disbursement, obligations, and reporting.

7.3 Winners must claim their prize and submit all required documentation within ten  (10) months from the date of the official award announcement. Failure to do so will result in automatic forfeiture of the prize or grant without further notice.

7.4 The Organizer does not guarantee funding or prize awards to all Participants.

7.5 Participants who breach the Terms or funding agreements may be required to forfeit or return awards.

8. Liability & Disclaimers

8.1 The Program is provided “as is” without any express or implied warranties regarding outcomes or success.

8.2 The Organizer shall not be liable for any indirect, incidental, consequential, special, or punitive damages, including but not limited to lost profits, loss of data, or business interruption.

8.3 The Organizer’s total liability for any claim shall not exceed the total amount of any prize or funding awarded to the Participant, or €1,000, whichever is less.

8.4 Participants are responsible for their own expenses (including travel, accommodation, insurance, and equipment) unless otherwise specified in writing.

9. Withdrawal & Termination

9.1 Participants may withdraw from the Program at any time by providing written notice to the Organizer.

9.2 The Organizer may terminate a Participant’s involvement immediately if:
(a) these Terms are breached,
(b) false or misleading information was provided,
(c) misconduct occurs, or
(d) the Participant is inactive or unresponsive.

9.3 Any Participant disqualified or withdrawn from the Program will automatically forfeit any unpaid prizes, grants, or awards.

9.4 Upon termination or withdrawal, Sections on Confidentiality, Intellectual Property, Liability, and Governing Law remain in effect.

10. Publicity & Media Consent

10.1 By participating in the Program, Participants consent to the use of their image, name, company name, logo, and non-confidential project information in photographs, videos, recordings, websites, social media, reports, and press releases.

10.2 Participants may request in writing to restrict use of certain materials, subject to reasonable limitations.

10.3 The Organizer may invite Participants to participate in media activities, interviews, or public showcases. Participation in such activities is encouraged but not mandatory.

11. Data Protection & Privacy

11.1 The Organizer processes personal data in accordance with applicable data protection laws, including General Data Protection Regulation (GDPR).

11.2 Personal data collected may include names, contact information, company details, and Program performance data.

11.3 The data will be used for Program administration, communications, reporting to funding bodies, and promotional activities.

11.4 Participants may exercise their rights to access, correct, or request deletion of their data by contacting the Organizer.

12. Dispute Resolution & Governing Law

12.1 The laws of the Republic of Cyprus shall govern these Terms and any disputes arising from participation in the Program.

12.2 Parties shall first attempt to resolve disputes amicably through good-faith negotiations.

12.3 If unresolved, disputes shall be submitted to the competent courts of Nicosia, Cyprus.

13. Miscellaneous

13.1 Entire Agreement: These Terms, together with any specific prize or funding agreements, constitute the entire agreement between the Organizer and the Participant.

13.2 Severability: If any provision is held invalid or unenforceable, the remainder shall remain in full force and effect.

13.3 Waiver: Failure by either party to enforce any right or provision shall not constitute a waiver of that right.

13.4 Assignment: Participants may not transfer or assign any of their rights or obligations without prior written consent.

13.5 Notices: All formal communications must be in writing and sent to the official contact details provided by both parties.