IDEA applies exclusions in relation to certain economic sectors and prohibits the establishment of a business relationship with certain persons (physical and/or legal), which are considered not to be compatible with the ethical or social basis of IDEA.
IDEA considers these restrictions important. The excluded sectors and persons shall be updated from time to time, at the absolute discretion of IDEA.
Participation in IDEA is governed by the provisions contained in the terms and conditions of this website as well as the additional terms of the IDEA participation agreement (Rules of the House) and the IDEA Success Fee Agreement which will be signed by the successful teams joining IDEA.
Intellectual Ownership
Each team participant in IDEA states and guarantees that the application is submitted by him/her lawfully and in accordance with the terms and conditions of the call, having received necessary prior approvals, consents and / or licenses. Additionally, the participant declares that he/she holds the legal rights to the submitted business proposal and the presentation, use, display or in any way exploitation the business proposal is not violating intellectual or industrial property rights, trade secret or any other rights of others natural or legal persons, either domestically or abroad. The participant also declares that he/she has read the statement on personal data (see SECTION on personal data) and agrees with its content.
Active Participation
The team members will be the main business proposal and start-up enterprise implementation team. Teams are expected to spend the majority of their working time at the premises, with presence of at least a team members at any time: The CEO and / or material shareholders, so that they benefit from IDEA facilities and services, but most importantly, for synergies and interaction. The team members are expected to attend all of the Accelerator stage trainings (exemptions may be given based upon team member background and experience), mentoring sessions, investor pitchings and any type of event. The teams agree to be bound by the terms and conditions of access and use of the premises.
Startup CEOs and / or material shareholders need to attend all important trips & events of IDEA.
Only upon approval decision of IDEA, can members of the team be substituted and/or added with the implicit condition to fulfill criteria 2 and 3.
Giving back to society
Give, take and share are integral parts of the IDEA culture. We give great emphasis on the important role of each start-up, which is to become an example for others and gradually give back to the ecosystem, give back to the new start-ups. By their acceptance at IDEA, each start-up team undertakes to offer the below, without the demand for remuneration:
The number of startup teams that will be admitted relies to the absolute discretion of IDEA.
Publicity
Each participant expressly accepts that a brief description of the business proposal, after prior approval of the final text may be presented by IDEA to the general public and made visible through electronic, print or other media under and for the purposes of promotion of IDEA.
Team participants in IDEA remain the owners of any existing intellectual property rights in relation to their business proposal, as required by law.
Startup teams participating in IDEA give the right to IDEA and its founder BoC, to publicize their progress and achievements during their presence in IDEA and afterwards it, giving prior approval to the final texts used, solely for the purposes of implementing, promoting and advertising IDEA.
Electronic copies of all the relevant documentation of all submitted applications with the submitted business proposals will remain with IDEA for archiving purposes.
Any announcement in relation to IDEA and its call will be displayed on IDEA website and / or IDEA Facebook and its validity prevails to anything displayed elsewhere.
Termination
The qualified teams, who fulfill the terms and conditions, will enjoy IDEA facilities and services for a total of up to 9 months from the date of the signature of the participant agreement. After the end of the incubation period, the teams will move out of IDEA premises, taking all the relevant and necessary actions in order to complete the physical transfer of their company fifteen days (15) before the expiry date of the participant team agreement. Exemptions for extension of residency are examined rarely and to the absolute discretion of IDEA management.
Any unacceptable behavior according to the regulations, causing damage from fault or other behavior of the participants contrary to morality and the commonly accepted rules of social and professional conduct, and general abuse may cause exclusion from IDEA on the recommendation of the Manager of IDEA. In such a case when a team is removed or voluntarily withdrawn from the Programme, IDEA Management has the right to proceed with the substitution of the team.
Each team is liable for the validity and accuracy of the data contained in the business proposal as well as their personal data when submitting their application to IDEA. Any discrepancy in data submitted could lead to termination of the project, should it prove that it was intentional, careless, or has adverse effect on the community, to the absolute discretion of IDEA.
IDEA can, at its discretion, terminate the term of any startup team at the Accelerator and Incubator stage who are not making sufficient progress (Startups need to submit a progress report to the Manager of IDEA on very frequent intervals, as requested) and / or as defined by the set milestones throughout the term.
Termination may occur when startups are not working on the project based on which they were admitted for or the team members have been replaced without prior IDEA consent.
IDEA is committed to protecting the privacy rights of the IDEA participants in accordance with National and European Laws and regulations on Data protection. The protection and security of personal data is of great importance and therefore IDEA conducts its business in accordance with the Processing of Personal Data (Protection of the Individuals) Law of 2001 as amended. IDEA is obliged to inform IDEA participants of the following:
Personal Data
IDEA is committed to protecting the privacy rights of the IDEA participants in accordance with National and European Laws and regulations on Data protection. The protection and security of personal data is of great importance and therefore IDEA conducts its business in accordance with the Processing of Personal Data (Protection of the Individuals) Law of 2001 as amended. IDEA is obliged to inform IDEA participants of the following:
Collection and purpose of processing of personal data
IDEA and its founding partner, BoC and its authorized employees shall process the personal data that have been provided, or shall be provided in the future for the successful implementation, operation or promotion of IDEA.
Recipients of the personal Data
Recipients of the personal data may be staff and associates of IDEA and its founding partner BoC and the current IDEA strategic partners, the evaluators, associated mentors and collaborators for the implementation and promotion of IDEA.
Confidentiality
Any personal data submitted to IDEA, shall not be disclosed to third parties other than the above mentioned, except with the participants’ prior consent or in accordance with any Law or court order.
The staff of IDEA, its founders and its strategic partners are bound by the confidentiality clause of IDEA MoU, the IDEA associates, evaluators, mentors, coaches and trainers are bound by confidentiality agreements with IDEA.
Right to the participants’ personal data
IDEA participants have the right to access and rectify their personal data and can contact for this purpose the Controllers of the personal data which is IDEA and BoC. Specifically, participants can contact the Manager of IDEA at the following address or/and telephone: IDEA, 36 Lykourgou str, 1011, Nicosia, Cyprus, tel: +357-22128144, email: info@ideacy.net.
Consent
The application and participation in IDEA constitutes an explicit and unreserved acceptance and consent of the Participants to the processing of their personal data by the above persons/companies in the manner and for the purpose mentioned above.
Once the evaluation process is completed, the selected teams, prior to the entry in IDEA should present any documents requested , in the discretion of IDEA, to verify or certify the accuracy of data declared (indicatively mentioned: identity card, proof of details in online CV, full legal documentation of the teams’ company if incorporated, clean police record, visa / residency / work permit, proof of address, or any other document that might be considered as necessary).
IDEA will examine the relevant documents and retain the right to disqualify a team that has not submitted any documents or enough documents from those requested. IDEA reserves the right, throughout the duration of the Programme, to request any additional evidence or legal documents it may deem necessary, under and for the purposes of conducting and implementing the Programme.