London Technology Fund Competition 2009

The London Technology Fund Competition 2009 Rules

• 1. Eligibility of applicant. The company must: -
  • 1.1. Be based in London. Definition includes having a registered office (or be willing to open such an office), which is the head office and at which senior management will be based, in one of the 32 boroughs of London, or in the City of London.
    
  • 1.2. Be an SME. Definition includes having:-
    - fewer than 250 employees,
    AND
    - a turnover not exceeding €50m, OR
    - a balance sheet not exceeding €43m.
    
  • 1.3. Be at the seed stage (having an idea), start-up stage (prior to trading) or early stage of development (and still losing money at the pre-tax level).
    
  • 1.4. Be operating in one of the following areas of technology: communications, computer (hardware, semiconductors and software), internet technology, other electronics related areas, biotechnology, medical (instruments, pharmaceuticals and healthcare), emerging technologies, energy, environment, physical sciences and engineering, new materials, and value added manufacturing.
    
• 2. Only one entry per company is permitted and entries must be via the on-line competition entry form, accompanied by the on-line funding application form. Entrants hereby agree to the terms set out in the important legal information which apply to applicants for funding.
  
• 3. The closing date for receipt of the submitted forms is 30th May 2009.
  
• 4. Prizes will include:-
  
  • 4.1. A possible share of up to £1m investment, provided by the London Technology Fund (LTF). Any investment offer from LTF will be subject to LTF’s usual terms and conditions including securing suitable co-investors.
    
  • 4.2. A share of over £100,000 worth of expert training and advice.
    
  • 4.3. An opportunity to enter a speed dating session with large corporates.
    
• 5. Company Guides Venture Partners Ltd (CGVP), who are managers of the LTF, will select the shortlist who will be informed on 8th July 2009. CGVP and other members of the first panel of judges will select the finalists, who will be informed on 7th October 2009. CGVP and other members of the second panel of judges will select the winners, who will be announced on 4th November 2009. In all cases the decision of CGVP and other members of the panel of judges will be final and no correspondence whatsoever will be entered into.
• 6. Entrants must supply any additional financial or other information as requested if they wish to remain in the competition, although no confidential information relating to intellectual property shall be required prior to any formal offer of investment being made. Entrants hereby consent to the disclosure of all information provided by them to any party involved in assessing their entry. In the event of non-availability of any of the judging panel, additional judges may be selected by CGVP, or CGVP and the other remaining judges will make a decision.
• 7. The winner of the competition will be the entrant considered to be the most promising new business. The judging panel’s decision is final and binding and no correspondence whatsoever will be entered into.
  
• 8. CGVP, the sponsors and the supporters reserve the right to feature the company name, the borough in which the company is based, its industry sector, stage of operation, photographs, quotations from the entrants and any publicly available information relating to any entrants in future publicity and promotions. All such companies agree to the use of this information without payment in such promotions and in any publicity surrounding the competition which may or may not be published or broadcast as a result.
  
• 9. The sponsors are Company Guides Venture Partners (managers of the London Technology Fund), Oracle Corporation UK Ltd, PricewaterhouseCoopers and The Royal Bank of Scotland. For a list of supporters see the website. Additional supporters may join this list from time to time.
  
• 10. CGVP reserves the right to vary, suspend or terminate the competition at any time.
  
• 11. The competition and these rules will be governed by English law and entrants and all other parties submit to exclusive jurisdiction of the English Courts.