Selection for Launch Party Award
A $10,000 non-dilutive prize will be awarded to a Launch Party company based on a community selection panel and the following criteria:
Problem Identification / Opportunity: A clearly articulated and compelling value proposition
Viability: Clear knowledge of the market and evidence of demand for the solution
Growth potential: Sustainable and scalable business model
Innovation: Unique solution, differentiated vs. competitors, including intellectual property considerations
Talent: A strong team
Communication skills: An effective and persuasive overall Executive Summary and pitch presentation
Strategy & Financial Plan: How you plan to use the prize money
Launch Party 14 Competition Terms & Conditions
Edmonton Unlimited (the “Organizer”) is proud the announce the Launch Party 14 Competition (the “Competition”). One Launch Party 14 company will receive a $10,000 cash prize (the “Prize”) to recognize, reward, and accelerate one of Edmonton’s newest and most innovative startups.
Please read these rules carefully before entering the Competition. By entering the Competition, you agree to be bound by these terms and represent that you satisfy all of the eligibility requirements set forth below.
1. Eligibility and Adjudication Criteria:
1.1. To be selected to participate in Launch Party 14 and compete in the Competition:
• The participant must be an early-stage startup company based in the Edmonton census metropolitan area with a recent innovation that is market ready or in the market. Preference is given to companies in the market.
• The participant must have a scalable product and aspirations for global reach OR an innovation tackling a global challenge.
• The participant must have a functional prototype or minimally viable product to demonstrate to the selection committee.
• The participant’s product must have launched in the 18 months prior to August 27, 2023.
• Each company may only enter one product to showcase at the event.
• Founders of the company applying must retain some portion of ownership in the company.
• The participant must have a scalable business model
The judging panel will also look to have a balanced representation of industry sectors and product types among the participants selected to compete in the Competition.
1.2. You do not need to be in an Edmonton Unlimited program to qualify for the Competition. If selected, there is no cost to participate.
1.3. The Organizer’s employees and the Organizer’s Board of Director, as well as the immediate family and those living with the Organizer’s employees or Board of Directors, are not eligible to participate in the Competition or win the Prize.
1.4. The criteria used by the judging panel to evaluate each participant selected to compete in the Competition will be based on the following:
• 1. Problem Identification / Opportunity: A clearly articulated and compelling value proposition (0/10)
• Does the pitch clearly define the problem the product or service addresses? (0-5 points)
• Is the value proposition presented in a way that resonates with the audience, making them understand the benefits? (0-5 points)
• 2. Viability: Clear knowledge of the market and evidence of demand for the solution (0/10)
• How well does the pitch demonstrate an understanding of the target market’s size and segments? (0-5 points)
• Are there concrete data points or market research findings presented that indicate demand for the proposed solution? TAM, SAM, SOM? (0-5 points)
• 3. Growth Potential: Sustainable and scalable business model (0/10)
• How clearly does the pitch outline the company’s revenue model and how it plans to generate income? (0-5 points)
• Is there a strategy to achieve growth beyond the current stage? (0-5 points)
• 4. Innovation: Unique solution, differentiated vs. competitors, including intellectual property considerations (0/15)
• How does the pitch highlight the uniqueness of the product or service compared to existing solutions in the market? (0-5 points)
• Are there any patents, proprietary technologies, or intellectual property protections that set the product apart? (0-5 points)
• How effectively does the pitch explain the competitive advantage? (0-5 points)
• 5. Talent: A strong team (0/10)
• Do the expertise and experience of team members match the relevant roles and responsibilities that align with the company’s needs? (0-5 points)
• Does the team have additional support (mentors, advisors, community)? (0-5 points)
• 6. Communication Skills: An effective and persuasive pitch presentation (0/10)
• How well does the pitch maintain clarity and engage the judges throughout the presentation? (0-5 points)
• Is the pitch structured logically, leading to a persuasive conclusion? (0-5 points)
• 7. Strategy & Financial Plan (The Ask): How you plan to use the prize money (0/10)
• Is the proposed allocation of funds strategic and aligned with the company’s growth plans? (0-5 points)
• Are there clear milestones or expected outcomes associated with the use of the prize money? (0-5 points)
1.5. Although the Organizer is the producer of Launch Party 14, at both the entry and award stages of the Competition, a panel of startup and innovation community members will be evaluating startups based the criteria listed above.
1.6. The Organizer reserves the right, in its sole and absolute discretion, to require proof (in a form acceptable to the Organizer): (i) for the purposes of verifying the eligibility and/or legitimacy of any materials and/or other information entered for the purposes of participating in the Competition; and/or (ii) for any other reason the Organizer deems necessary, in its sole and absolute discretion, for the purposes of administering the Competition in accordance with the Organizer’s interpretation of the letter and spirit of these terms. Failure to provide such proof to the complete satisfaction of the Organizer within the timeline specified by the Organizer may result in disqualification in the sole and absolute discretion of the Organizer.
1.7. The Organizer reserves the right to disqualify any entrant in the event of fraudulent Competition entry or other violation of these terms. The Organizer may also prohibit an applicant from participating in the Competition or winning a prize if, in their sole discretion, they determine that the information the applicant has provided is inaccurate or that the applicant is attempting to undermine the legitimate operation of the Competition by cheating, deception or other unfair practices.
2. Competition Process
2.1. You can apply participate in Launch Party 14 and compete in the Competition through the online application form:
https://share.hsforms.com/1Y8CcbI3-TAKQBEICCXCT2Q1ehu9.
2.2. Applications must be submitted no later than August 27, 2023 at 11:59pm Mountain Time. Submissions after this time will not be considered.
2.3. The selection committee will review submissions and either:
• Notify the applicant that their submission has been rejected;
• Request an interview or demonstration, and then provide an acceptance or rejection within 24 hours
• Accept the application ad notify the applicant that they have been accepted to participate in Launch Party 14 and the Competition.
2.4. Applicants that have been selected to participate will be notified by September 8, 2023.
2.5. Participants will also be invited to participate in a pitch preparation session prior to Launch Party 14.
2.6. The judging panel will, on the basis of the criteria set out in section 1.4, evaluate each participant selected to compete in the Competition. Once all participants are evaluated, the winner will be determined. The decision by the judging panel regarding any aspect of the Competition will be final and binding.
3. Prize
3.1. The winner selected by the judging panel will be awarded Prize.
3.2. The winner is responsible for any tax implications of accepting the Prize.
4. Privacy and Media Participation
4.1. By participating in the Competition, each participant (on their own behalf and on behalf their business/company/service/product) expressly consents to the Organizer, its agents and/or representatives, storing, sharing and using any personal information submitted for the purpose of administering the Competition or other purposes. This section does not limit any other consent that an individual or entity may provide or have provided to the Organizer’s or others in relation to the collection, use and/or disclosure of personal information. The personal information collected for the purpose of this contest is not sold or otherwise disclosed to any third parties except in accordance with section 4.2.
4.2. The participants agrees to participate in media outreach if requested and consent to the use of their name, company information, and photographs and video, without additional compensation or notice, in connection with any publicity, including social media, promotional material, news articles, or interviews carried out by or on behalf of the Organizer with respect to the Competition.
5. Changes to the Competition
5.1. The Organizer will not be liable to the participants if the Competition cannot take place, or if the Prize cannot be awarded or fulfilled, due to events outside of its control. If for any reason the Competition is not capable of running as planned, including any circumstances which, in its sole determination, corrupt or affect the administration, security, fairness, integrity or proper conduct of the Competition, the Organizer reserves the right to cancel, terminate, modify, or suspend in whole or in part this Competition at any time and in any way, without prior notice.
5.2. The Organizer reserves the right to adjust any of the dates, timeframes and/or other mechanics stipulated in these terms, to the extent deemed necessary by the Organizer, for purposes of verifying compliance by any participant, materials and/or other information with these terms, or as a result of any technical or other problems, or in light of any other circumstances which, in the opinion of the Organizer, in its sole and absolute discretion, affect the proper administration of the Competition as contemplated in these terms, or for any other reason.
6. Applicant Acknowledgement
6.1. Applicants participation in the Competition is voluntary. By applying, applicants willingly accept the consequences of their involvement in the Competition, including publicity that is not in the control of the Organizer and that may unfavorably affect the applicant. The Organizer is not responsible or liable for injury or damage to the participant’s business, brand, reputation, or goodwill resulting from participating in the Competition and the participant releases the Organizer from any liability relating to the foregoing.
6.2. In no event will the Organizer, their respective agents or their respective officers, directors, employees, members, be responsible or liable for any damages or losses of any kind, including direct, indirect, incidental, consequential, special or punitive damages arising out of, resulting from, arising in connection with or participation in, the Competition, including the negligence of other parties, their employees and agents, or the negligence of any other participant in the Competition, or any other cause, and the participant releases the Organizer from any liability relating to the foregoing.
7. General
7.1. For the purposes of this Article, “Released Parties” means the Organizer, its affiliated and related companies, business partners, advertising and promotional agencies, and each of their respective directors, officers, employees, agents, representatives, successors and assigns and all others associated with the Competition.
7.2. All issues and questions concerning the construction, validity, interpretation and enforceability of these terms or the rights and obligations of participants, Organizer, or any of the Released Parties in connection with the Competition will be governed by and construed in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable therein.
7.3. The parties hereby consent to the exclusive jurisdiction and venue of the courts located in Edmonton, Alberta in any action to enforce (or otherwise relating to) these terms or the Competition.
7.4. The Organizer reserves the right to modify and amend these terms from time to time during the Competition, including for clarification purposes. If any provision of these terms is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions. Failure or delay by the Organizer to enforce any of these terms shall not constitute a waiver.