Terms and Conditions

VERBUND X Accelerator.

1 GENERAL

1. The VERBUND X Accelerator. (“Program”) is a program launched by VERBUND AG, Am Hof 6a, 1010 Wien, office.hx@verbund.com  (“VERBUND”, “we” ,”us”).

2. By submitting an application, you agree to be bound by these terms.

2 RIGHT TO PARTICIPATE

1. The Program is open to start-ups, small and medium-sized enterprises (SMEs) and other entrepreneurs (“Applicant”, “you”).

2. Any person applying on behalf of the applicant must be authorised by the applicant to submit an application on its behalf. Any reference to you is to the applicant named in the application form.

3.You must submit your application and participate in the application procedure in good faith and in a professional and reputable manner.


3 SUBMITTING YOUR APPLICATION

1. The application period is open from 30th June 2021 to 31st July 2021. We may in our discretion consider an application submitted after the closing time but we have no obligation to do so.

2. Our computer is the official timekeeping device for the Program.

3. Whilst applications will remain open until 11:59pm CET on the closing date, we strongly advise that you submit your application in good time prior to this to avoid the risk of missing the deadline due to technical problems or other issues.

4. We reserve the right to consider and accept applications which are submitted after the closing date, or which have been started but not submitted by the closing date. However, this is entirely within our discretion and we are under no obligation to do so.

5. At the website of VERBUND www.verbundx.com (“Program-website”) you can find all the information about the Program. When applying for the Program, you will be redirected to the application form at the website of WhatAVenture (www.whataventure.com). WhatAVenture is a partner of VERBUND and processes your data as an independent controller. In addition to these terms, you must comply with the terms applicable to the use of the aforementioned website of WhatAVenture.

6.  You must complete the application form in English or German.

7. We reserve the right to reject any application that we consider inappropriate for any reason.


4 AFTER APPLICATION

Following the application closing date, we will assess all eligible applications which have been submitted in accordance with the criteria described in detail on the Program-website.

2. In the Program VERBUND Energy4Business GmbH (Am Hof 6a, 1010 Wien), an affiliated company of VERBUND, and other cooperation partners, all listed on the Program-website, are involved in certain use cases of the Program. These parties receive your application data within the Program from VERBUND according the Privacy Policy of the Program in order to be able to evaluate for themselves if you are a partner to cooperate with in the future.

3. If you are selected to complete a Proof of Concept in the Acceleration Phase of the Program, these new terms will then be provided to you.


5 CONFIDENTIALITY AND PRIVACY

1. You are not required or expected to include any confidential information about you or your business or business idea in the application form.

2. We will assume however that any information that you do provide during the application procedure is either already in the public domain or is information that you have no issue with being publicly shared. If you provide us with information which has been provided to you by, or which relates to, someone else, you must have the consent to do so and must ensure that they do not consider it to be of a confidential or sensitive nature.

3. In regard to confidential information that is provided within the Program from the Remote Pitches through the Acceleration Phase a separate Non-Disclosure-Agreement (NDA) needs to be concluded.

4. Personal data are handled in accordance with our Privacy Policy. Please see our Privacy Policy for more information.

6 INTELLECTUAL PROPERTY

1. We appreciate that your intellectual property is important to you. Nothing in these terms will operate to transfer any intellectual property rights from you to us and the involved parties in the course of the application for the Program. If you however are selected to complete a Proof of Concept in the Acceleration Phase of the Program a separate agreement, including intellectual property rights, needs to be concluded.

2. You must not use our intellectual property rights, including our respective names, logos, documentation or materials in the course of the application process or in any other way without our express written consent.

3. Please be aware that any part of pitch day/event may be filmed and/or photos may be taken and may also be published and circulated as we consider appropriate. Please see our Privacy Policy for more information.


7 GENERAL

1. These Terms and Conditions shall be governed in its entirety by the laws of the Republic of Austria. The exclusive place of jurisdiction shall be the competent court in Vienna.

2. We reserve the right to modify, cancel or suspend the application process for the Program or any part of it at any time, for example where we suspect any fraudulent activity, where there is a technical failure or where there is any other unexpected event or event beyond our control.For all these reasons you cannot claim any damages.

3. We also reserve the right to suspend or disqualify any applicant from the process at any time where we consider it necessary to protect the integrity or operation of the Program or our legitimate interests, or where we suspect that an applicant has breached these terms or acted in a manner that is inappropriate, unethical or otherwise inappropriate.

4. Our failure to enforce any provision of these terms at any time will not constitute a waiver of our rights under that provision.

5. The invalidity of any provision of these terms shall not in any way affect the existence or enforceability of the remaining terms. If any provision is found to be unenforceable then we shall be entitled to replace it with an enforceable provision that reflects the intention of the unenforceable provision as closely as reasonably practicable.

6. In certain circumstances we may however need to amend these terms of a general basis, with revisions that apply to all applicants. Where we make any changes to these terms we will notify all applicants via the Program website. If you then wish to withdraw your application, you can do so.