This document/agreement is an electronic record in terms of Information Technology Act, 2000 and generated by a computer system and does not require any physical or digital signatures.

 

TERMS AND CONDITIONS FOR THE HERO FOR STARTUPS INITIATIVE (“TERMS”)

 

Background- Hero for Start-ups is a start-up centered initiative by Hero MotoCorp Limited (“Organizer”) which aims to accelerate growth of start-ups by fostering an environment of collaboration and providing them with mentorship, necessary support and resources and to scale their solutions and contribute meaningfully to the future of mobility (“Program”).

 

These Terms form a legal and binding agreement between Organizer and participating start-ups (“Participants”).

 

Definitions-

“Interest Form”: shall mean the form which is shared by the Organiser to Participants to participate in the Program as available on the [heroforstartups.com] (“Website”).

 

“Idea”: shall mean any idea shared by the Participants with the Organizer pursuant to their participation in the Program.

 

“Content”: shall mean any images, text, video, presentations, documents, financial data, execution process or other material submitted by the Participant in relation to the Program including the Idea.

 

“Partners”: shall mean agencies, start-ups, or other organisations assisting the Organizer with Program management, technical support and evaluation.

 

“Proof of Concept”: shall mean a demo proof of concept prepared by the finalized Participants for the development and implementation of the Idea.

“Financial Assistance”: shall mean any funds/ support that may be provided by the Organizer for the execution of Proof of Concept.

 

“Intellectual Property Rights”: means any and all intellectual property or proprietary rights, including: (a) patents, domain names, service marks, logos, trade dress, brand names, trademarks and registered designs including all registrations of, or applications for, the registration of the same; (b) inventions, confidential processes and computer programs, software codes together with all applications for registration or in connection with the same; (c) copyright, moral rights and other protectable rights; (d) know-how, data bases, drawings, domain names, trade secrets, technical information and other confidential information; (e) information about processes, applications, data, ideas, techniques, documents, notes, presentations, works of authorship, operational data, competitive analysis, and any information and materials relating thereto, whether or not it is in written or permanent form; and (f) any licenses and permissions in connection with any of such matters, in each case, whether registered or unregistered and including all applications for the registration or grant of any such rights and any and all forms of protection having equivalent or similar effect anywhere in the world.

 

“Confidential Information”: means and includes information in any form, disclosed and/or delivered by the Organizer to the Participants, which is furnished in connection with the Program, and which by its nature should be deemed as confidential in common business parlance. Notwithstanding the foregoing Confidential Information includes, but is not limited to Idea, Content, submissions from the Interest Form, organisational, financial, technical, marketing related information of Organizer, intellectual property and trade secrets, information pertaining to Organizer’s affiliates, customers, or vendors, or any other information of Organizer, whether written or oral, which has come to knowledge of Participants by virtue of their participation in the Program, whether or not so labelled or identified as confidential information:

 

1.              Eligibility

Participation in the Program is exclusively open for such entities which are eligible to register as ‘start-ups’ under the Department for Promotion of Industry and Internal Trade’s Gazette notification number GSR 127 (E), as amended from time to time, and meet eligibility criteria specified by the Organizer. Organizer may revise the eligibility criteria at its sole discretion at any time during the Program.

 

2.              Application and Selection Process

 

2.1           Participants can apply for the Program by submitting the Interest Form, which shall be made available from 27-Nov-2024 to 15-Feb-2025 (“Cut-off Date”) on the Website. The Interest Forms should be filled with true and correct information and should be submitted before the Cut-off Date

 

2.2           The Program comprises of various stages in which the Participants may be asked by the Organizer to submit the Idea, pitches, Proof of Concept, Content. The Organiser may also direct Participants to participate in trainings, webinars, workshops, mentorship sessions organized in relation to the Program.

 

2.3           The Organizer has the right to audit and verify the Participant’s details/information as provided in the course of the Program and may seek any further documents, as may be required. If, the Organiser at any stage of the Program determines that any information provided by the Participant is false, incorrect or infringing third party Intellectual Property Rights, the Organizer will take strict action against the Participant including but not limited to requiring the Participant to return and reimburse the Organiser for all costs incurred by the Organizer on the Participant including return of the Financial Assistance and prizes, if any.

 

2.4           The Participants will be shortlisted based on the Idea, Content and Proof of Concept submitted by them after an extensive screening processes and evaluation by the Organizer. The Organizer, from time to time, will inform the Participants of their selection/rejection. The Organiser is not obligated to share details of any evaluations done by it including scores.

 

2.5           Organizers may use any third-party platform to conduct any part of the Program and the Participants will be intimated of the same.

 

9.1           The Organizer reserves the right to at its sole discretion: (i) terminate, suspend, discontinue the Program at any time including as result of occurrence of force majeure events, (ii) to alter the rules and regulation of this Program without prior notice to the Participant and without incurring any liability whatsoever.

 

 

3.              Financial Assistance

 

3.1           The Participants acknowledge and agree any Financial Assistance to be provided to Participants is subject to further evaluation of the Participants’ Ideas by the Organizer, and is subject to additional terms and conditions as mutually agreed between the Organizer and Participants. Such additional terms may further contain provisions governing utilisation of Financial Assistance, deployment of Proof of Concept, Intellectual Property Rights of the parties etc.

 

3.2           Any expenses beyond the Financial Assistance will be borne solely by the Participants.

 

3.3           Any misuse of the Financial Assistance will result in immediate disqualification of the Participant and may lead to further legal action, as deemed appropriate by the Organizer.

 

4.              Intellectual Property

 

4.1           The Participant hereby warrants and represents that: (i) all information shared by the Participant including the Idea, Proof Of Concept, Content are original and have been legally obtained and created and do not infringe the Intellectual Property Rights or any other legal or moral rights of any party; (ii) in case the Participant has used any Content which belongs to any third party, Participant has, prior to such use, obtained all necessary rights and licenses from the relevant third party to use the Content. Upon request by the Organiser, the Participant shall provide proof of such licenses granted.

 

4.2           Organizer or the Partners will not be responsible for verifying the originality or ownership of the Ideas and Content submitted by Participant.

 

4.3           The Participant agrees to indemnify, defend and hold harmless the Organizer and its respective affiliate companies, directors, employees, agents and Partners from any and all claims, damages, expenses, costs (including reasonable attorneys' fees) and liabilities (including settlements), brought or asserted by any third party arising out of any act or omission of the Participant including infringement of third party Intellectual Property Rights.

 

4.4           Participant acknowledges that Organizer is not responsible for resolving or mediating any disputes or conflicts arising between the Participant and any third parties, including but not limited to co-founders, collaborators, Partners, vendors, employees, relatives, or investors, whether those third parties are introduced through the Program or otherwise.

 

4.5           Any such disputes must be resolved between the parties involved, and the Organizer disclaims any liability for damages, claims, or losses related to such conflicts.

 

5.              Confidentiality

 

Participant must maintain the confidentiality of all Confidential Information, both during and after the Program period. Participant shall not disclose any Confidential Information without the prior written consent of the Organizer. Participant hereby acknowledge that they shall not acquire any rights in respect of Confidential Information and that all such rights shall remain vested in the Organizer unless otherwise especially agreed between the Participant and the Organizer. The Organizer may at any point of time ask the Participant to return or destroy any Confidential Information in their possession. The Participant agrees that monetary compensation may not be a sufficient remedy for unauthorized disclosure of any Confidential Information and that the Organizer shall be entitled, without waiving any other rights or remedies, to such injunctive or equitable relief as may be deemed proper.

 

6.              Termination

 

The Organizer reserves the right to terminate, suspend, disqualify the Participant for following reasons (i)  breach of any of the Terms including breach of any of the representations made by the Participant, (ii) any infringement of third party Intellectual Property Rights by the Participant, (iii) at any stage if the Organizer reasonably determines that the Participant does not meet the requirements of the Program and/or conducts in a manner which unfair or contrary to the spirit of the Program.

 

7.              Miscellaneous

7.1.      Participant’s personal information submitted in Interest Form will be stored on Organizer’s systems. The information will be used in accordance with applicable data privacy law.

 

7.2.      The Subject to the applicable law, the Participant grants to the Organizer and its affiliates, the right and permission to reproduce, encode, store, copy, transmit, publish, broadcast, display, publicly perform, exhibit and/or otherwise use or reuse the Participant’s name, address, image, voice, likeness, statements, biographical material in any media throughout the world for advertising, promotional and publicity purposes and such usage shall not require any additional review, compensation, or approval.

 

7.3.      The Participants shall not, without the prior written consent of Organizer, use in advertising, publicity or otherwise the names, trade names, service marks, trade dress or logo of Organizer, or refer to their participation in the Program in any press releases, advertising, web sites or materials distributed or made available to prospective customers or other third parties.

 

7.4.      The Organizer and Partners shall not be held responsible for any loss or damage that the Participant may suffer as a result of participating or attempting to participate in the Program.

 

7.5.      Decision of the Organizer on all matters including selection/rejection of the Participant is final and binding and no correspondence or appeal on the same will be entertained.

 

7.6.      The Participant shall not assign or delegate any of its rights and obligations hereunder to any third party, without the prior written consent of Organizer. Notwithstanding the foregoing, Organizer shall have the unrestricted right to assign these Terms to any person.

 

7.7.      Each provision of these Terms is severable. The invalidity or unenforceability of any provision shall not affect the validity or enforceability of the remaining provisions.

 

7.8.      Organizer, at its sole discretion, reserves the right to change, modify, add or remove portions of the Terms at any time without any prior written notice to Participants. Participants’ continued participation in the Program means that they agree to the changes, modifications, additions, and omissions in the Terms made by the Organizer.

 

7.9.      The Parties submit to the exclusive jurisdiction of the courts at New Delhi and all disputes relating to these Terms shall be subject to the exclusive jurisdiction to the courts of New Delhi.