PRAVEGA-COWE ACCELERATOR PROGRAM PARTICIPATION AGREEMENT
WHEREAS:
The ICFAI Foundation for Higher Education Innovation & Entrepreneurship Council (IIEC) having its registered office in IFHE Campus, Donthanapally, Hyderabad – 501 203 (IIEC) is established as an incubator for entrepreneurs under the aegis of the ICFAI Foundation for Higher Education and also acts as an active partner of ICFAI Foundation for Higher Education, a Deemed-to-be-University U/s 3 of UGC Act, 1956, hereinafter referred to as the “IIEC” which expressions shall unless repugnant to the context shall be deemed to mean and include its successors and assignees).
IIEC is engaged, inter-alia, in developing the entrepreneurial ecosystem in the region in diverse areas of science & technology, business management, social entrepreneurship and women entrepreneurship.
A new initiative called Pravega, a 12-week paid accelerator program (hereinafter referred to as the “Program”) designed for MVP-stage and early-revenue Startups is being hosted by the IIEC in collaboration with Confederation of Women Entrepreneurs (COWE).
The persons interested in participating in the said Program (hereinafter referred to as the “Participant”) shall agree to the terms and conditions mentioned hereunder.
TERMS & CONDITIONS
Eligibility and Registration: Participation is open to early-stage startups as determined by the IIEC. Registration requires accurate and complete information. The IIEC reserves the right to verify eligibility and reject or remove any participant at their sole discretion. Mere submission of an application does not guarantee acceptance into the Program.
Program Structure and Participation: The Program is a 12-week hybrid accelerator including live weekly sessions, bi-weekly mentorship, peer learning, assignments, boot camp and a final Demo Day. The Program in general includes:
Weekly live sessions and 1:1 mentorship
A 3-day residential bootcamp at the IFHE Hyderabad campus
An in-person Demo Day with investors and ecosystem partners
Program Fee: Participant shall pay ₹30,000 (exclusive of GST) to enrol in the program.
Attendance and engagement: Participant must commit to attending scheduled sessions, completing assignments within the stipulated timelines, and actively engaging with mentors and peers.
Non-refund of fees: In the event of failure of the Participant to meet participation requirements as mentioned hereinabove may result in the cancellation of enrolment of the Participant from the Program and in such an event there shall be no refund of Program fee.
Code of Conduct: Participant must conduct themselves in a professional and respectful manner while attending the Program. Harassment, discrimination, or any behaviour detrimental to the Program environment will not be tolerated and may result in immediate expulsion and cancellation of enrolment.
Intellectual Property: All intellectual property (IP) rights in any materials provided by the IIEC remains the sole property of the IIEC or their licensors. Participant shall not use any Program materials for commercial purposes outside the scope of the Program without prior written consent. However, the Participant retains ownership of their own startup IP but grant the IIEC a non-exclusive, royalty-free license to use any materials submitted for the purpose of Program administration and promotion.
Confidentiality: Participant shall keep confidential all proprietary information shared during the Program by the IIEC, mentors, other participants, or third parties. Confidential information shall not be disclosed to any third party without prior written consent.
For purposes of this Agreement, “Confidential Information” means any data or information that is proprietary to the Disclosing Party (disclosing party is a party who discloses or disseminates the information and Receiving party is a party who receives the information) and not generally known to the public, whether in tangible or intangible form, in whatever medium provided, but does not include any information which:
Is in the public domain at the time of disclosure or comes within the public domain without fault of the receiving party.
Is already known or become known to the receiving party.
Is received from a third party having no obligations of confidentiality to the disclosing party.
Is independently developed by the receiving party.
Is required to be disclosed by law or court order.
This confidentiality obligation survives the termination of participation or completion of the programme.
Data Protection: Participant data will be collected and processed in accordance with applicable data protection laws. The IIEC or its co-organizers, associates, affiliates may use participant contact information to communicate Program-related updates. Personal data of the Participant will not be shared with third parties without consent, except as required by law.
Program Changes and Termination: The IIEC reserves the right to modify, postpone, or terminate the Program or any part thereof at its sole discretion. In case of termination of the Program, the IIEC’s liability shall be limited to refund of Program fees paid, subject to deduction of costs/expenses, incurred by the IIEC prior to the termination of Program.
Disclaimers and Limitation of Liability: The IIEC provides the Program on "as is where is" basis and does not give any guarantee or warranties regarding outcomes, including but not limited to business success, funding, or growth as a result of participation in the Program. The IIEC or its co-organizers, associates, affiliates are not liable for any direct, indirect, incidental, or consequential damages arising from participation. Participants are responsible for their own business decisions and any risks associated.
Indemnity: The Participant shall indemnify and keep indemnified the IIEC or its co-organizers, associates, affiliates against all claims, losses and disputes arising out of or with respect to the Program participation and/or this Agreement.
Force Majeure: IIEC or its co-organizers, associates, affiliates shall not be liable for any breach of this Agreement caused due to Force Majeure events such as Acts of God, fire, lightning, explosion, flood, inclement weather conditions, pandemics, epidemics resulting in lockdowns or restrictions or prohibitory orders of the Government (both Central and State Govts.) or any event beyond the control of them.
Resolution of Disputes and Governing Law: In case of any dispute arising out of Program participation and/or this Agreement, the courts of competent jurisdiction at Hyderabad, India shall have the exclusive jurisdiction for adjudication. This Agreement shall be governed by the laws of Republic of India.