1. GENERAL
1.1. The VERBUND X Accelerator.
(“Program”) is a program launched and organised by VERBUND AG, Am Hof 6a, 1010
Wien, team-innovation@verbund.com (“VERBUND”, “we” ,”us”).
1.2. By submitting an
application, you agree to be bound by these terms.
2. RIGHT TO PARTICIPATE
2.1.
The Program is open to start-ups, small and medium-sized enterprises (SMEs) and
other entrepreneurs (“Applicant”, “you”).
2.2.
Any person applying on behalf of the applicant must be authorised by the
applicant to submit an application on its behalf. Any reference to you is to the
applicant named in the application form.
2.3.You
must submit your application and participate in the application procedure in
good faith and in a professional and reputable manner.
3. SUBMITTING YOUR APPLICATION
3.1. In 2024
there are 2 batches. The application period for the first batch, batch 6, is
open from 4th July 2024 to 18th August 2024. The application period for the
second batch, batch 7, is open from 15th October 2024 to 30th November 2024. We
may in our discretion consider an application submitted after the closing time, but we have
no obligation to do so.
3.2. Our
computer is the official timekeeping device for the Program.
3.3. Whilst
applications will remain open until 11:59pm CET on the closing date, we
strongly advise that you submit your application in good time prior to this to
avoid the risk of missing the deadline due to technical problems or other
issues.
3.4. We reserve
the right to consider and accept applications which are submitted after the
closing date, or which have been started but not submitted by the closing date.
However, this is entirely within our discretion, and we are under no obligation to do so.
3.5. At the
website of VERBUND www.verbundx.com (“Program-website”) you can find all the
information about the Program. However, details for the second batch will be
released at latest on the 15th of October 2024.
3.6. You must complete the application form in
English or German.
3.7. We reserve
the right to reject any application that we consider inappropriate for any
reason.
4. AFTER APPLICATION
4.1. Following the application closing date, we will assess all eligible applications which have been submitted in accordance with the criteria described in detail on the Program-website.
4.2. In the
Program affiliated companies of VERBUND and other cooperation partners listed
on the Program-website, are involved in certain use cases and search fields of the Program. These parties receive your application data within the
Program from VERBUND according to the Privacy Policy of the Program so that they can better evaluate
potential subsequent cooperation with you in their own interests.
4.3. If you are
selected to complete a Proof of Concept in the Acceleration Phase of the
Program, these new terms will then be provided to you.
5. CONFIDENTIALITY AND PRIVACY
5.1.
You are not required or expected to include any confidential information about
you or your business or business idea in the application form.
5.2.
We will assume however that any information that you do provide during the
application procedure is either already in the public domain or is information
that you have no issue with being publicly shared. If you provide us with
information which has been provided to you by, or which relates to, someone
else, you must have the consent to do so and must ensure that they do not
consider it to be of a confidential or sensitive nature.
5.3.
In regard to confidential information that is provided within the Program from
the Remote Pitches through the Acceleration Phase a separate
Non-Disclosure-Agreement (NDA) needs to be concluded.
5.4. Personal data are
handled in accordance with our Privacy Policy. Please see our Privacy Policy
for more information.
6. INTELLECTUAL PROPERTY
6.1. We appreciate
that your intellectual property is important to you. Nothing in these terms
will operate to transfer any intellectual property rights from you to us and
the involved parties in the course of the application for the Program. If you
however are selected to complete a Proof of Concept in the Acceleration Phase
of the Program a separate agreement, including intellectual property rights,
needs to be concluded.
6.2. You must not use
our intellectual property rights, including our respective names, logos,
documentation or materials in the course of the application process or in any
other way without our express written consent.
6.3. Please be aware
that any part of pitch day/event may be filmed and/or photos may be taken and
may also be published and circulated as we consider appropriate. Please see our Privacy Policy for more
information.
7. GENERAL
7.1. These Terms and
Conditions shall be governed in its entirety by the laws of the Republic of
Austria. The exclusive place of jurisdiction shall be the competent court in
Vienna.
7.2. We
reserve the right to modify, cancel or suspend the application process for the
Program or any part of it at any time, for example where we suspect any
fraudulent activity, where there is a technical failure or where there is any
other unexpected event or event beyond our control.For
all these reasons you cannot claim any damages.
7.3.
We also reserve the right to suspend or disqualify any applicant from the
process at any time where we consider it necessary to protect the integrity or
operation of the Program or our legitimate interests, or where we suspect that
an applicant has breached these terms or acted in a manner that is
inappropriate, unethical or otherwise inappropriate.
7.4. Our failure to
enforce any provision of these terms at any time will not constitute a waiver
of our rights under that provision.
7.5.
The invalidity of any provision of these terms shall not in any way affect the
existence or enforceability of the remaining terms. If any provision is found
to be unenforceable then we shall be entitled to replace it with an enforceable
provision that reflects the intention of the unenforceable provision as closely
as reasonably practicable.
7.6.
In certain circumstances we may however need to amend these terms of a general
basis, with revisions that apply to all applicants. Where we make any changes
to these terms we will notify all applicants via the Program website. If you
then wish to withdraw your application, you can do so.