Terms and Conditions

1. Liability: Innovest does not endorse any submission or any opinion, recommendation, or advice expressed therein, and expressly disclaims any and all liability in connection with submissions.

2. Intellectual Property Rights: Innovestdoes not permit infringement of any intellectual property rights and will disqualify any submission if properly notified that a submission’s contents infringe on another’s rights. In connection with submissions, applicants affirm, represent, and/or warrant that they own or have the necessary licenses, rights, consents, and permissions to use and authorize Innovest to use all patent, trademark, trade secret, copyright, or other proprietary rights in and to any and all submissions to enable inclusion and use of the submissions in the manner contemplated by Innovest and these Terms and Conditions.

3. Agreement of Terms and Conditions: By submitting an application, the applicant agrees to all of the rights, permissions, and terms and conditions as contained in this document.

4. Non-Exclusive Rights to Submitted Material: By entering the Jabchor 2.0 Program, applicants agree that Innovest and the Department of Employment and Entrepreneurship (DoEE) shall have the nonexclusive right to use all submitted materials for promotional purposes, in perpetuity throughout the world and in any and all media for no payment or other compensation. All submitted materials, including videos, may be used by Innovest and DoEE for the purpose of communication, training, outreach, promotional activities, and other purposes. By entering the program each applicant agrees to grant Innovest and the DoEE an irrevocable, royalty-free license to use the video entered for publications and promotional activities including, but not limited to, the event website, Jabchor 2.0 initiative associated websites, social media pages, as well as any other promotional activities of both Innovest and the Department of Employment and Entrepreneurship.

5. Third Party Material: Applicants further agree that they will not submit material that is copyrighted by a third party, protected by trade secret, or otherwise subject to third-party proprietary rights, including privacy and publicity rights, unless the applicant is the owner of such rights or has permission from their rightful owner to submit the material.

6. Rights, Licenses, Consent, and Permission: By entering the Jabchor 2.0 Program, applicants warrant and confirm that they grant and have obtained all necessary rights, licenses, consents and permissions from all persons rendering performances in relation to their video(s), including but not limited to consents from all persons whose performances are reproduced in the video(s) or otherwise in order that Innovest and DoEE may make the fullest use of the video(s). If any such consents, permissions or any clearances have not been properly and legally obtained, then the entrant, upon submitting the video(s), agrees to indemnify and keep Innovest and DoEE fully indemnified from and against any claim, damage, loss (whether foreseeable or not), liability or cost including reasonable legal fees arising out of any failure to obtain such consents.

7. Legality: By entering the program, applicants warrant and confirm that the applicant is in compliance with all laws applicable to the application and the work proposed.

8. Offensive, Inappropriate, Derogatory, or Libelous Materials: Regarding the promotional video, any form of violence, profanity, sexually explicit content, libel and/or attacks on individuals or organizations may not be depicted. Videos should not invade privacy, reveal other people’s personal information or display predatory behavior. Videos must not contain material that promotes intolerance, harassment, intimidation, racism, hatred or harm against any group, individual or organization or promote discrimination based on race, gender, religion, nationality, disability, sexual orientation or age. Innovest reserves the right, in its sole discretion, to disqualify and delete any application it deems to be offensive, inappropriate, derogatory and libelous, or not in keeping with the competition theme or that is otherwise not in compliance with the official Jabchor 2.0 terms and conditions

9. Lost or Damaged Materials: Innovest accepts no responsibility for applications lost, delayed, misdirected, damaged or undelivered. Incomplete, non-compliant and/or illegible entries will be disqualified. Innovest shall not be responsible for technical errors in telecommunications networks, Internet access or otherwise, preventing entry to the competition.

10. Publicity: By entering Jabchor 2.0 Program, applicants acknowledge that they may be featured in publicity without further consent. Such publicity may include without limitation the applicant’s video, and their name and/or likeness, voice, photographs and/or video footage of the applicant, biographical information provided by the entrants/winners and/or any statement made by them concerning the competition and/or the prizes. Applicants agree that any or all such elements may be used by Innovest and DoEE in any and all media in perpetuity throughout the world. Nevertheless, Innovest DoEE shall have no obligation to include an entrant in any publicity whatsoever.

11. Plagiarism: Byentering Jabchor 2.0 Program, the applicant certifies that materials submitted in the application are the original work of the applicants (see Appendix A). No application containing plagiarized writing will be funded under this competition.

12. Post Investment and Handholding and Reporting: All applicants who advance to become Finalists commit to provide Innovest with reasonable assistance in communicating the outcomes and impacts to the public of their work. Investment recipient commit to joining 3 months Post Investment Hand holding support and incorporating the company and providing a report one year following the receipt of their investment money.

13. Investor Protection: All local and foreigner investors shall be protected by the laws of the Kingdom of Bhutan. The partnership shall be governed by either Partnership Agreement under the Contract Act for local partnership and Companies Act of Kingdom of Bhutan mandatorily for Foreign Investments in addition to adhering to FDI Policy 2019.

14. Success Fee: All successful investment made through Jabchor 2.0 Program agrees to Innovest’s Success Fee as reflected in Appendix A

15. Intellectual Property Rights to Work Produced Under Program: Innovest makes no claim to intellectual property rights to any work created under any program. However, Innovest shall have the right to share information provided by participants regarding outcomes and impacts of Jabchor 2.0 participation with the DoEE and to publicize the program through summaries of participants’ reports and other means.

16. Dissemination: Innovest reserves the right to publicly disseminate general information about submissions. Such information may include: the number of proposals received; the names of applicants and applicant organizations; titles of proposed activities; and sector(s) in which the work is proposed. For teams receiving the investment, Innovest reserves the right to publicly disseminate descriptions of proposals funded, as well as reports about progress and outcomes. All finalists will be expected to provide Innovest with reasonable assistance in communicating the outcomes and impacts to the public of their work.

17. Applicant Expenses Detail: Each applicant shall pay registration fees, while the administrative and Entrepreneurs Grooming Expenses shall be made by DoEE, which includes workspace, food and travel expenses. Expenses made on the day  of investment pitching event shall be borne by  DoEE and the expenses on the post-handholding shall also be met by DoEE.