Terms & Conditions
The Innovation Fund Intake Programme (“Intake”) run by Westpac New Zealand Limited (“Westpac” or “us”, and “we” and “our” have corresponding meanings) aims to provide funding and expertise that supports the identification, validation and championing of innovative ideas and opportunities that make a difference for all New Zealanders.
Your involvement with an Intake is subject to the terms and conditions set out below (“Terms and Conditions”).
The intakes are open to: (a) those residing in New Zealand (b) Employees of supporting partners and/or organisers who declare their connection and relationship to the Innovation Fund for assessment
If you are interested in applying to be a part of an Intake, you are invited to submit an application. The application includes: – completion of all of the questions on the application form; – completion of the lean canvas; and – acceptance of these Terms and Conditions. By submitting an application, you agree that you have read, and agree that the applicant will be bound by, these Terms and Conditions. All documents and other materials forming part of your application must be in English. You must also ensure that you meet any other eligibility criteria as specified in these Terms and Conditions. Incomplete applications will be deemed invalid and rejected. Applications will be accepted at the time of receipt and not at the time of transmission.
There will be three stages of the judging process. (c) Propositions will be assessed by the Working Group and Investment Board. The Investment Board has final say on all decisions (d) The panel will be required to declare any conflict of interests as soon as they become aware. Organisers will assess and communicate any changes required to maintain a fair and impartial assessment process. (e) The panel’s decision is final and cannot be appealed. (f) Following each gate, the panel will assess all propositions. Participants will then be contacted and informed of the outcome. (g) The panel reserve the right to not fund any propositions if they are not considered sufficient to the standard expected or to deliver the intended outcomes of the intake.
a) Your involvement in the Intake may reflect on us, and you must not: i. represent that you are our agent or affiliated with us otherwise than as contemplated by these Terms and Conditions; or ii. bring Westpac into disrepute or make any disparaging comments about Westpac in relation to the Intake. (b) You may cease your participation in an Intake at any time in writing, but you recognise that your withdrawal may make you ineligible to receive any of the funding, and may have logistical or practical implications for the Intake and therefore agree to notify us as soon as possible.
While these Terms and Conditions describe our intention for the Intake as at the time of publishing, we may, in our sole discretion, acting reasonably, vary the stated process. We reserve the right at any time and for any reason to: (a) vary the Intake in any way, including any applicable dates or timeframes, in which case we will use reasonable endeavours to provide you with notice of changes to the dates or timeframes, either by email or by publishing changes on the Website; (b) not proceed with all or any part of the Intake in which case we will use reasonable endeavours to provide you with notice of cancellation in whole or in part; (c) proceed in a manner other than that described in which case we will use reasonable endeavours to provide you with notice of such a change in the process of the Intake; (d) discontinue your further participation in the Intake for any reason acting reasonably; or (e) adopt different approaches with different applicants taking into account the type of application submitted, and enter into separate discussions with applicants on that basis.
During the course of your involvement in the Intake, you may provide or communicate to us details of (and information in relation to) your business/idea, and other related documents, presentations, written or oral statements, photos or videos, or materials (“Material”). You represent, warrant and undertake that: (a) Ownership: you own your Material; (b) Originality: your Material is all original work; (c) No infringement: your Material will not infringe the Intellectual Property Rights (as defined below), Moral Rights (as defined below) or other rights of, or breach any obligations of confidence owed to, any person; (d) No infringement – use: the use of your Material by us in relation to the Intake will not infringe any third party Intellectual Property Rights, Moral Rights or other third party rights; (e) No infringement of law: your Material does not violate any applicable law of New Zealand; (f) Accuracy: your Material will be up-to-date when submitted to us, and at all times true, accurate and not misleading; (g) ‘Intellectual Property Rights’ means trademarks, service marks, trade names, domain names, get-up, logos, patents, inventions, registered and unregistered design rights, copyrights, database rights and all other similar rights in any part of the world including, where such rights are obtained or enhanced by registration, any registration of such rights and applications and rights to apply for such registrations; and (h) ‘Moral Rights’ means the rights conferred by Part IV of the Copyright Act 1994 and any similar or corresponding rights existing anywhere in the world.
All applicants accept that we may use their contact details for use in contacting them about the Intake. Applicants may also opt in to receiving further contact from the Innovation Fund. This may include contact via electronic communications. Where you provide us with materials intended for public disclosure (i.e. not marked confidential) in connection with the Intake, we may use those materials and information about you to administer the Intake and evaluate the applications. We may publicise your involvement in the Intake, and you must provide us with your reasonable co-operation in publicising the Intake (including consent to the publication of your name, likeness and other appropriate information) if deemed appropriate by us. (a) You agree to participate in publicity activities in relation to the Intake, including participating in videos, photographs, recordings/sounds and statements and you hereby grant us, the right to use, copy, distribute, publish, display and exhibit such material, without further reference, payment or other compensation in relation to those publicity activities. (b) You agree not to engage in any other publicity or promotional activities or make any public announcement about your participation in the Intake without our prior written consent. (c) Unless otherwise agreed between us, we agree not to disclose to the public or any third party any of your Material that you specify in your application is confidential, except: i. as otherwise required by law; ii. as required to administer the Intake; or iii. to the extent that the information is in the public domain (other than because of a breach by us of these Terms and Conditions).
(a) You must indicate in your application whether, as at the date of submission of the application, any actual or potential conflict of interest exists in relation to your participation in the intake. If in doubt, indicate such a conflict. (b) You must promptly notify us if any such actual or potential conflict of interest arises after the date of submission of your application. If in doubt, notify us. (c) If we determine that there is an actual or potential conflict of interest, we may: i. exclude you from further participation in an intake; ii. enter into discussions with you to seek to resolve the conflict of interest; or iii. take any other action we consider appropriate.
You must bear your own costs and expenses associated with the preparation of your application, and your participation in the Intake. You are solely responsible for any taxes imposed on you by law in connection with the Intake, including any penalties or interest that may arise as a result of any failure or omission on your part in relation to your taxation obligations. If you are in any doubt as to your taxation responsibilities in connection with the Intake, you should obtain appropriate independent tax advice. All payments made in connection with the Intake are inclusive of New Zealand goods and services tax (if any).
(a) The indemnities in these Terms and Conditions are continuing obligations, independent from your other obligations and will continue after the conclusion of the Intake. It is not necessary for us to incur expense or make a payment before enforcing a right of indemnity under these Terms and Conditions. (b) If you provide any false or misleading information to us, including information concerning your identity, contact details, ownership of intellectual property or non-compliance with these Terms and Conditions, may result in immediate elimination from participation in the Intake. (c) In the event of a dispute as to any application, the authorised account holder of the e-mail address used to apply is deemed to be the person who made the application. For the purposes of these Terms and Conditions, the authorised “account holder” is the natural person assigned an e-mail address by an internet access provider, online service provider or other organisation responsible for assigning e-mail addresses for the domain associated with the submitted address. In the case of a dispute as to any application submitted by a legal entity, the legal entity named in the application is deemed to be the entity who submitted the application. (d) Any questions regarding the Intake should be sent to iaas@westpac.co.nz. (e) These Terms and Conditions constitute the entire agreement between us and you in relation to the Intake and supersede all other (prior or contemporaneous) communications or displays whether electronic, oral, or written, between us and you. (f) In the event of any conflict or ambiguity between any terms in the Terms and Conditions will take precedence to the extent of such consistency or ambiguity.