Terms and Conditions

VERBUND X Accelerator and verbundx.com Website

1. GENERAL

1.1. The VERBUND X Accelerator. (“Program”) is a program launched and organised by VERBUND AG, Am Hof 6a, 1010 Wien, team-innovation@verbund.com  (“VERBUND”, “we” ,”us”).

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

2. RIGHT TO PARTICIPATE

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

2.2. 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.

2.3.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

3.1. In 2024 there are 2 batches. The application period for the first batch, batch 6, is open from 4th July 2024 to 18th August 2024. The application period for the second batch, batch 7, is open from 15th October 2024 to 30th November 2024. We may in our discretion consider an application submitted after the closing time, but we have no obligation to do so.

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

3.3. 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.

3.4. 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.

3.5. At the website of VERBUND www.verbundx.com (“Program-website”) you can find all the information about the Program. However, details for the second batch will be released at latest on the 15th of October 2024.

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

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

4. AFTER APPLICATION

4.1. 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.

4.2. In the Program affiliated companies of VERBUND and other cooperation partners listed on the Program-website, are involved in certain use cases and search fields of the Program. These parties receive your application data within the Program from VERBUND according to the Privacy Policy of the Program so that they can better evaluate potential subsequent cooperation with you in their own interests.

4.3. 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

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

5.2. 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.

5.3. 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.

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

6. INTELLECTUAL PROPERTY

6.1. 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.

6.2. 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.

6.3. 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

7.1. 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.

7.2. 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.

7.3. 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.

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

7.5. 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.

7.6. 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.

LEGAL INFORMATION

The content presented on this website is for general information purposes and has been compiled with due care and to the best of our knowledge. We accept no liability for the accuracy, up-to-dateness, completeness and availability of the information provided. In particular, no legal claims arising from the use of the information retrieved can be substantiated. We reserve the right to make changes.

We endeavor to operate the website continuously and to keep it accessible. We do not, however, guarantee or warrant that the website or its content will be available without interruption or at all, that it will be error-free or that errors will be corrected. We therefore expressly exclude any liability for damages of any kind arising from the provision of the website to the extent permitted by law. If our website contains links to other websites (third-party websites), we assume no responsibility or liability for their content, topicality, completeness, accuracy, or legality, as this content is outside our area of responsibility. Linked third-party websites do not necessarily reflect the views and/or opinions of our company.

All text, image, and video material ("material") on the website is protected by copyright. Unless otherwise stated, all copyrighted rights of use and exploitation of the Material are held exclusively by us. Regarding all intellectual property rights (e.g., industrial property rights, copyrights, and related rights, etc.), no license or any other right of use or exploitation is granted to anyone based on the use of the website. Brands, design (layout), images, texts, parts of texts and other contents of the website may not be changed, copied, reproduced, edited, used, supplemented, or used in any other way without our prior written consent.

Austrian substantive law shall apply exclusively, excluding the conflict of law rules of private international law and excluding the provisions of the United Nations Convention on Contracts for the International Sale of Goods (CISG). The place of jurisdiction is the competent court for Vienna, Innere Stadt. In the event of disputes with users who are consumers within the meaning of § 1 KSchG, the place of jurisdiction shall be the place of residence, habitual residence, or place of employment in accordance with § 14 KSchG.