THE RULES

DEADLINES AND ANNOUNCEMENT DATES:

The DEADLINE to complete and/or turn in materials for your project for judging is July 31st, 2014, at 7:00pm.

Louisiana Startup Prize FINAL FINAL Announcement Date: September 4, 6pm-8pm, Cohab

Submission Materials:

REQUIRED:  Completed iStart application (all questions must be answered). MUST BE COMPLETED BY DEADLINE!

OPTIONAL:  Additional materials may be turned in (or sent) to the Louisiana Startup Prize office at: La Startup Prize 2014, 401 Market St, Suite 860, Shreveport. LA 71106 – MUST BE TURNED IN OR RECEIVED BY DEADLINE!

  • Additional business plans
  • Additional financial projections
  • Prototypes (may be picked up by request before 5:00pm on September 26th)
  • Samples (perishables and disposables will not be returned)
  • Videos must be uploaded to Youtube or Vimeo (can be hidden or password protected)
  • Testimonials
  • Reference letters
  • Sample term sheet outlining equity or requests for financing

NOTE:  No NDAs will be signed by investors.  Each startup is responsible for its own protections, patents, and/or trademarks.

IMPORTANT DISCLAIMER

DISCLAIMER REGARDING LEGAL, ACCOUNTING AND OTHER ADVICE: During the Louisiana Startup Prize, contestants and others may hear presentations by, or talk individually with, volunteer attorneys, accounts and other professionals. Such professionals may also distribute materials in relation to their area expertise for the Louisiana Startup Prize. Any information and/or opinions conveyed are based on general principals and limited or no facts about a specific enterprise; therefore, a participant should not rely on such information and/or opinions, but instead should engage and consult with the participant’s own professionals.  Any information or opinions received by a participant from a volunteer professional(s) is not warranted by the Louisiana Startup Prize or any such professional(s). Further, no attorney-client relationship or accountant-client relationship is created by participation by professionals in Louisiana Startup Prize activities or related events. To create a relationship with such a professional, you must specifically engage the services of the professional and the professional’s firm by written engagement contract. By participating in the Louisiana Startup Prize, you acknowledge and agree to the conditions and limitations set forth in this paragraph.

the fine Print

The Louisiana Startup Prize is a startup business competition open to entrepreneurs of any nationality. A business will be considered for competition only if it is considered to be early-stage. An early-stage business is classified as one that is no more than three (3) years old, does not exceed $500,000 in equity-based investment, and does not exceed $1 million in annual revenue at the time of application. The LASP committee reserves the right to determine the eligibility of any project. Special consideration will be given to businesses that are considered “scalable.”

All qualified entries must be independently owned companies. Companies owned, financed or developed by a parent company that does not meet the “early-stage” requirements are ineligible for competition. Companies focused in the following industries/subject matter areas are not eligible:

  • Gambling
  • Pornography or prostitution
  • The production of illegal drugs, drug-like substances and paraphernalia, etc.
  • Multi-level marketing and pyramid programs

The LASP team reserves the right to eliminate other businesses deemed inappropriate for competition on a case by case basis. Please note that review and assessment of each application takes time from our team and therefore application fees will not be refunded.

At least one team member from each applying business must participate in at least one Startup Prize Qualifier in its entirety.

Startups wishing to participate must submit a completed application in English, along with the registration fee of $50 per Qualifier ($75 for both Qualifiers). The submission fee is non-refundable and non-transferrable. Businesses may change their names, but the original name turned in on the registration form should accompany all materials through the selection process along with the new name so that we are able to associate your business with the proper registration form and application fee. If a company is disbanded or fails to participate in any required events, a refund or transfer of application fees will not be permitted – a new registration form and fee must accompany the new business.

It is the primary applicant’s responsibility to obtain any licenses, release forms, liability or other insurance, and other customary permits, permissions and protections as is customary to the industry in which your business is operating. Teams are responsible for complying with all federal, state, and city regulations, including any necessary permitting. Given the wide range of entry types, The Louisiana Startup Prize does not require any of these items by default, but we do expect that you comply with those who do for the safety and legality of your business. The Louisiana Startup Prize is not legally responsible for any aspect of the development of your business.

Over the course of the competition, contact with your business’ primary team member and other people involved may be made at any time by LASP representatives. We reserve the right to visit the site of market research, product demos, or other business related events. Some of these visits might be for information gathering, creation of promotional materials, or just welcoming you to the competition with warm doughnuts.

All work and submissions of Entrants must be original to the applying entrant/team. If there is a question about the rights to your work, you will be asked to provide evidence of original production or rights to materials and elements used in conjunction with your project. This extends to logos, plans, presentation, products, prototypes, and marketing items.

The primary applicant should be the only point of contact each team has with the offices of the Louisiana Startup Prize. All decisions, questions, or issues will be communicated to the primary contact only. From there, the primary contact may disseminate any pertinent information. This is to avoid confusion and prevent multiple calls about the same issue.

Prizes must be accepted as awarded. All taxes associated with the Startup Prize awards are the sole responsibility of the prize winner(s). Prizes are non-transferable.

Prize money should be used towards furthering the awarded business. None of the prize money awarded may be used for repayment of personal investment in the business or repayment of other debt. Winning teams understand and agree that, if any material misrepresentations are discovered or if a winning team is not able to satisfy the above requirements, the team may be disqualified and/or the company may be required to repay any cash and prizes that have been received plus 8% annual interest.

The Louisiana Startup Prize takes no responsibility for agreements between competition participants and third parties.

The Louisiana Startup Prize takes no part in and has no liability for the domestic or international intellectual property rights of competition participants. Participants are responsible for their own intellectual property. Participants must keep confidential information confidential. By submitting its application, each Participant agrees to defend, indemnify and hold harmless LASP from and against all claims and liabilities resulting from Participant’s activities, including, without limitation.

Entry materials become the property of the Louisiana Startup Prize upon submission.

Participants who engage in immoral activities, including lying and cheating, or any activity that may adversely affect the image of the Louisiana Startup Prize or other participants, become ineligible for the Competition. Participants in the Louisiana Startup Prize and the business which they submit are subject to ALL applicable federal, state, and local laws.

All participants in the Louisiana Startup Prize must comply with the rules stated here. Any violation of the rules will disqualify an entrant’s team from the competition, and result in forfeiture of any prizes awarded to the team.

FINAL ROUND PARTICIPANTS

This section is for finalists ONLY. This section will pertain to you and your startup if you are picked to participate in Startup Prize FINAL FINAL.

To be eligible for the Grand Prize, finalists (and their teams) must attend ALL events on Startup Prize FINAL FINAL.

The award of a prize is a grant, and not an investment in the winning participant. Participation in the LASP or winning a prize is not in any way a promise that any person associated with LASP will make any investment in or loan to the participant. If any personal investments made by the Startup Prize “Board of Directors” or other parties associated in any way with the LASP, such investments are personal investment between the investor and the entrepreneur. The Startup Prize is not liable for any agreements made between such parties.

If a Startup Prize finalist is funded in the FINAL FINAL by any member of the investor/judge panel, they must donate 2% of the equity in their company to the Film Prize Foundation, Inc., d/b/a Louisiana Startup Prize.

Help Us Help You

We request that all teams give significant consideration to the following requests:

  • Contribute your time. Louisiana Startup Prize participants (particularly finalists and winners) will often be invited to come back and participate as mentors and speakers during future competitions. While this is not a requirement of participation, we would love for all entrants to be willing to come back, as they can, to give back to the program and the community.
  • Tell us how you’re doing. The Louisiana Startup Prize is a non-profit endeavor, and we count on the impact the program has to help us fund each new competition. We therefore ask that those applying be willing to share requested information with the Startup Prize for reporting purposes for up to three years after participation in the competition is complete.

No DRAMA

We reserve the right, at our discretion, to revoke passes and access to the events from any participant who is acting in opposition the spirit of the Startup Prize, as determined in the sole discretion of Executive Director of the Louisiana Startup Prize.