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Scale-Up Rules & Eligibility

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Scale-Up Pitch Challenge Rules & Eligibility

Submission Details

The deadline for all submissions is Saturday, August 1st by 11:59 PM EDT. The top 3 finalists will be invited to attend the NBMBAA® 2020 Conference & Career Fair: A Virtual Experience.

Eligibility

Ideas and concepts pitched must be in the initial or early stages of development. Individuals or teams must disclose any funding already received at the time of registration. There is an allowance for an idea or concept to be already funded before this Challenge by personal or family funds, small amounts of seed capital from outside investors, or modest amounts of funding stemming from institutional or research grants.

The pitched idea or concept must be the original work of the individual or team pitching it. The individual or team represents and warrants that (i) it or they are the author or owner of the idea they are pitching and the owner of any intellectual property right(s) upon which the idea is based and (ii) that the idea does not contain any libelous material, does not invade or violate any right of privacy, personally or proprietary right, or other common law or statutory right. Ideas and concepts deemed by the NBMBAA® Organizing Committee to be fake, insincere, offensive, immoral, libelous, or unethical or in violation of any right of privacy, personally or proprietary right, or other common law or statutory right may be screened and disqualified.

The NBMBAA® Organizing Committee has the sole discretion to disqualify and/or remove any individual or teams for any reason that it deems appropriate before and/or during the Challenge for violation of these rules. All decisions regarding an individual’s or team’s removal and/or disqualification from the Challenge are final. All entrants and winners must:

1. Be a U.S. resident, and over the age of 18.

2. Have a founder who is Black (of African descent), who maintains an ‘at least equal stake’ in the startup (if startup has three owners, at least 33% of its ownership must be Black).

3. At least one member of each Scale-Up Pitch Challenge team must be an active member of the National Black MBA Association® in order to participate in the Scale-Up Pitch Challenge finals at the NBMBAA® 2020 Conference & Career Fair: A Virtual Experience. Become a member here

Judges

The Challenge judges are a panel made up of investors, business development and startup experts from local and surrounding areas of each round.

Entry & Registration

3 finalists will be selected from the pool of registrants by the NBMBAA® Organizing Committee (“Committee”). The Committee’s decisions will be final. Applications must be received by the submission deadline, 11:59 PM EDT Saturday, August 1st, 2020 via the online application. The Challenge is open to anyone who has an entrepreneurial idea for a startup company who would like to pitch to a panel of judges for the purposes of receiving feedback, prizes, and the opportunity to share their startup concept. The 3 finalists must be a member of NBMBAA® in order to compete at the NBMBAA® 2020 Conference & Career Fair: A Virtual Experience.

Submissions may be entered as individuals or teams. The maximum number of team members for a single pitch is limited to 3 persons. Each individual or team may enter only one idea or concept when applying for the Challenge. Only the pitching individual or the pitching members of a team may pitch to the panel of judges or answer questions from the judges and/or audience.

Finalists will be notified via email in early September. 

Ties

In the event of a tie, the cash awards will be split equally between the competitors. By participating in the challenge, participants agree to be bound by the decisions of the judges. All competitors will gain access to free business consulting, mentoring, and partnership development.

 

Confidentiality

Confidentiality is not guaranteed in any way. Do not include confidential material in your submissions. There is no way for NBMBAA® to enforce a prohibition of other competitors, audience members, or the Judges who see and hear a pitch competitor’s materials from sharing the idea and/or materials. Sharing your idea or concept may be deemed a public disclosure, so if you are interested in filing a patent, you may need to consult with a patent attorney before entering the Challenge. NBMBAA® is not responsible for any confidentiality issues that may occur during the course of the Challenge and will not be involved in any way with disputes arising therefrom. Competitors may exclude any proprietary information or materials that the competitor feels are at risk of disclosure.

Miscellaneous

Release – By participating in the Challenge each participant and winner agrees to indemnify and defend NBMBAA®, its officers, directors, employees, agents, contractors, members or event participants from any loss, liability, costs or damages arising from actual or threatened claims or causes of action which may occur from the conduct of, or participation in, the Challenge, or from the use of any prize. In order to receive a prize, participants will be required to sign a separate waiver form provided by NBMBAA®.

Publicity; Use of Personal Information – By participating, where allowed by law, all participants and winners grant NBMBAA® the exclusive permission to use their names, characters, photographs, voices, videotape and likeness in connection with the promotion of this and any future Challenge. By participating in the Challenge, where allowed by law, participants agree that NBMBAA® may disclose personal information obtained from participants in the Challenge to third parties and use such information for marketing and other purpose.

Taxes

The value of any prize awarded to a winner may be reported for tax purposes as required by law. Each winner is solely responsible for reporting and paying any and all applicable taxes related to the prizes and paying any expenses associated with any prize which are not specifically provided for in these rules. Each winner must provide NBMBAA® with valid identification and a valid taxpayer identification number or social security number before any prize will be awarded. Any person winning over $600 in prizes from NBMBAA® will receive an IRS Form 1099 at the end of the calendar year and a copy of such form will be filed with the IRS.

Annual membership contract, paid in monthly installments with automatic renewal Service begins as soon as your initial payment is processed. You will be charged 1/12 of the annual membership fee at the time of purchase, every month for the duration of your annual contract. Your membership contract will renew automatically, on your annual renewal date, until you cancel your membership in writing no later than 30 days prior to your annual renewal by contacting membership support. Renewal rates are subject to change, but you will be notified at least 30 days prior to your annual renewal date if your renewal rate will change. Should you cancel before your one-year term has expired, you will be charged 100% of your remaining contract obligation and your service will continue until the end of until the end of your contracted term. Cancellations can be made any time by contacting membership support in writing. Annual prepaid membership contract, with automatic renewal Service begins as soon as your payment is processed. You will be charged, immediately in full, the annual membership fee at the time of purchase. Your contract will renew automatically, on your annual renewal date, unless you cancel your membership in writing by no later than 30 days prior to your annual renewal date by contacting membership support. Renewal rates are subject to change, but you will be notified at least 30 days prior to your annual renewal date if your renewal rate will change. Should you cancel before your one-year term has expired, your payment is non-refundable, and your service will continue until the end of your contracted term. Cancellations can be made any time by contacting membership support in writing. Activation of Membership Memberships will become active upon processing of all materials at National Black MBA Association (NBMBAA) headquarters. Existing Lifetime and Associate Lifetime Members The Lifetime or Associate Lifetime membership is no longer offered. Existing Lifetime or Associate Lifetime members who have paid in full are active for the duration of his or her lifetime, from their membership activation (see activation of membership). Lifetime or Associate Lifetime members are no longer eligible for any other membership type. Student Members Student memberships are active for 12 consecutive months, beginning at activation (see activation of membership). You will be considered a student member as long as you are actively enrolled in a recognized undergraduate or graduate degree program. Your membership should be upgraded to a Professional or Associate membership upon the expiration of your current membership, subsequent to graduation. You are required to submit proof of your current enrollment. The following items will be accepted as proof of current enrollment: • Letter from the registrar acknowledging your current enrollment status • Copy of your tuition bill • Class schedule reflecting your current enrollment. Should you fail to submit proof of current enrollment within 60 days, your membership may be terminated, and your payment will not be refunded. You will then need to reapply for membership. Refund Policy The NBMBAA will only provide refunds for the following reasons: • Verified duplication of billing • Verified overcharges • Submission of incorrect member type resulting in one of the above Refunds will be provided as follows: • Credit card payments will be credited to that same credit card. • Cash and check payments will be credited by NBMBAA check after 30 days, and only after initial payment has cleared our financial institution. * Refunds will be issued only upon request of the individual. The NBMBAA will vigorously defend itself against credit card charge backs. In the event that your credit card company requests a credit for charges, we will comply only to the extent that the request meets the requirements of the refund policy. (See above). Recurring Payments If you choose a recurring payments option to automatically renew your membership, you are responsible for canceling it prior to annual recurrence to avoid charges. Once charged, your membership will not be refunded. Notice of Photography and/or Videography As a condition of membership, individuals grant the National Black MBA Association an irrevocable nonexclusive license to use their name, image, voice and likeness for the purpose of advertising and promoting NBMBAA events, activities and products without any further approval from you or payment to you. It is the NBMBAA’s right to make visual and audio recordings, and still images of its members (collectively “Photography”) and to use the Photography and member’s name. However, none of the above shall be deemed as an endorsement for any NBMBAA product or service. Without limiting the generality of the foregoing, members agree that the rights granted hereunder shall include the perpetual, worldwide right of NBMBAA to edit, telecast, rerun, record, publish, reproduce, use, license, print, distribute or otherwise exploit, in any manner and in any medium or forum, whether now known or hereafter devised. Terms and Conditions are subject to change without prior notification. Revised: April 5, 2017. NBMBAA®