Participation Limits:

• Each individual can participate in no more than three teams.

• Each individual can only serve as the principal applicant (PA) for one team.

Principal Applicant (PA):

• A PA must be identified for each team, serving as the point of contact with the organizer.

• If there are any changes to the PA or team members, the current PA must inform the organizer and obtain approval.

Eligibility Requirements:

Each team must meet at least one of the following criteria:

• Include one PolyU member (alumni/staff/student) with a minimum of 10% ownership in the proposed company.

• Be an existing PolyU/ Mainland Translational Research Institute (MTRI) licensee or commit to licensing PolyU/MTRI’s intellectual property (IP) upon winning*

• Be a PolyU MTRI incubate or commit to incorporating a startup in a PolyU agreed location with a MTRI upon winning*

• Applicants should refer to the specific eligibility criteria for each competition region, as additional requirements may apply beyond the general competition guidelines.

*   A deed of undertaking must be signed to formalize this commitment.

Project Submission:

• Each team can submit one project per tech domain.

• Teams may apply for multiple tech domains/competition regions but will be entitled to only one award only if winning. Teams must decide whether to accept the award or continue applying for other tech domains / competition regions.

Awarding process:

• The winning teams of the competition regions and Grand Final must register or have registered a company to receive the cash prizes.

• Before the final assessment, the shareholding structure of the new company or the company designated to receive the prizes must be confirmed during the Disclosure and Declaration exercise.

• After the competition, the Organizer will conduct due diligence with the winning teams, verifying the authenticity of the registration information, the eligibility of the team and team members, and reviewing the original documents while collecting copies.

• For those committed to being PolyU/MTRI licensees:
The winning teams’ company must sign a licensing agreement with PolyU/MTRI within one year after winning the award and meet the relevant requirements before applying to receive the award from the Competition Organizing Committee.

• For those committed to joining PolyU MTRIs:
The winning teams should register a startup in a PolyU-approved location where a PolyU Mainland Translational Research Institute is situated within one year after winning the award and meet the relevant requirements before applying to receive the award from the Competition Organizing Committee.

• After passing the due diligence, the award will be distributed.

• For any winning team that has not incorporated and met the requirements within the specified time set by the Organiser, they shall be deemed to have waived the award.

Intellectual properties (IP)

• In general, the intellectual properties (IP) and materials made and created by an employee during their employment or students during their study at the educational institutions shall be vested in the employers or the institutions upon the making and creation, unless otherwise specified by the organisations’ rules.

• Participation in the Challenge shall not give a third party any rights or claims to these intellectual properties. But IP rights attached thereto generated by the applicant during the Challenge process shall be vested in the applicant.

• The participating teams shall carefully consider properly protecting their existing/newly generated IPs. The team and/or the company shall bear all the costs for such protection.

Others

• Participants must not make any statement, comment or issue any materials that are political, violent, discriminatory, unlawful, infringing, hateful, sexually suggestive or derogatory, defamatory or adverse to the reputation of any sponsors/ partners during the Challenge or the related events.

• All the teams must conform to the rules enumerated above. The Organiser reserves the right to disqualify any team that fails to abide by the Competition rules.

• The organiser reserves the right to interpret and change the Competition rules and other provisions and conditions. Applicants shall not raise any objections to such interpretation and changes.