1. The organiser
The Organiser is: Converged Ltd, a limited company registered in England and Wales with company number 14220495 and registered office located at 124 City Road, London Ec1V 2NX. Bruno Nicholas is a director of Converged Ltd.
2. The competition
2.1 The title of the competition is Konverge Competition.
2.2 There is a fund of up to £30,000 available for investment from the Organiser which will be divided between successful participants, in return for an equity stake in your company. The exact investment amount and equity stake will be agreed between the Organiser and successful participants. If successful you will also receive support for your business from a Business Growth Expert.
For full details, please read these terms
3. How to enter
3.1 The competition will run from 1st September 2023 (the "Opening Date") to 30th September 2023 (the "Closing Date") inclusive.
3.2 All competition entries received after the Closing Date are automatically disqualified.
3.3 To enter the competition:
(a) You must register for and download the Konverge mobile application (available via https://konverge.club and at Google Play and App Store) operated by Converged Ltd. You must complete the registration process specified in the Konverge App, including registering details of your company (if already registered) in which investment would be made along with any other directors and shareholders, and completing a personality questionnaire.
(b) Once registered for the Konverge App you will be provided with an email address to which your entries must be submitted by the Closing Date.
(c) To make the entry, please submit a pitch deck of no more than 10 pages to the competition email address provided, including your name and company name.
3.4 The Organiser will not accept responsibility for competition entries that are not received by the Closing Date, no matter the cause.
3.5 By submitting a competition entry, you are agreeing to be bound by these terms and conditions.
3.6 For help with entries, please contact support@konverge.club.
4. Eligibility
4.1 The competition is only open to all residents in the UK aged 18 years and over. If you are applying in respect of a company which is already in existence, then you independently or together with the other named participants must hold all the shares in a limited company registered in England & Wales, Scotland or Northern Ireland.
4.2 You may only enter the competition if you have downloaded and then registered yourself (and your company if applicable) for the Konverge App (see 3, above).
4.3 Any investment for successful participants will be in a company and be on a commercial/business to business basis, and no investment or other funding is available to you personally. If you do not operate a company already, in which investment is sought at the time of entry, then you will be required to register and set up a company (in a UK jurisdiction) if you are successful in this competition, prior to receiving investment.
5. Winning the investment
5.1 The entries will be judged by the Organiser, whose decision will be final. The decision will be based on the pitch deck submitted in order to create a shortlist. The shortlisted participants will then be required to attend a remote interview with the Organiser.
5.2 All participants will receive a confirmation email of whether they have been successful within 14 days of the Closing Date.
5.3 If you are successful, you will be offered an investment of up to £30,000 (“the Prize”). There may be multiple winners and the maximum Prize amount will be £30,000. The Prize will be awarded solely at the discretion of the Organiser.
5.4 You will also win support for your business from a Business Growth Expert supplied by the Organiser. You will be required to attend weekly and monthly calls with the Business Growth Expert.
6. Requirements to secure investment
6.1 On successful completion of due diligence checks, winners will be presented with Heads of Agreement setting out the offer of investment in your company, the equity/shares to be received by the Organiser in return, as well as other core terms.
6.2 If you have won and been provided with the Heads of Agreement, you, other directors and/or shareholders, and your company (as applicable) will need to complete the Organiser’s due diligence checks as it deems appropriate, which may include checking of identity documents and criminal records/DBS checks. The Organiser will pay for any DBS checks undertaken.
6.3 The value of shares and equity purchased in return for the investment will be determined by you and the Organiser through the investment and due diligence process.
6.4 If the offer is accepted, Heads of Agreement signed and due diligence successfully passed, your company will be required to enter a Subscription Agreement (the contract covering the investment in return for shares/equity) with the Organiser to confirm the investment. The terms of the Subscription Agreement will be agreed between you/your company and the Organiser.
6.5 Neither you or the Organiser are obliged to enter the Heads of Agreement or Subscription Agreement, if due diligence is not completed satisfactorily or agreement on investment terms cannot otherwise be reached. Final investment and payment of money will then be made in accordance with the Subscription Agreement.
7. Data protection and publicity
7.1 The Organiser will only process your personal information as set out in the Privacy Policy (www.konverge.club/privacy-policy).
7.2 By entering you understand and agree this is a multimedia competition and images/video of you, your business and/or your data will be used by the Organiser at their complete discretion across various forms of media in relation to operation and marketing of the investment competition.
8. General
8.1 If there is any reason to believe that there has been a breach of these terms and conditions, the Organiser may, at its sole discretion, reserve the right to exclude you from participating in the competition.
8.2 The Organiser reserves the right to hold void, suspend, cancel, or amend the prize competition where it deems it necessary to do so.
8.3 You may withdraw from the process at any time by letting the Organiser know in writing at support@konverge.club.
8.4 These terms and conditions are governed by English law. If any entrants to this promotion wish to take court proceedings, then they must do this within the courts in the United Kingdom.