Terms and Conditions
TERMS AND CONDITIONS OF PARTICIPATION IN THE WESTPAC INNOVATION CHALLENGE (THE “CHALLENGE”)
- Information on how to enter and prize details form part of these terms and conditions; however, to the extent that there is any inconsistency between these terms and conditions and any other published material, these terms and conditions will prevail. By participating in the Challenge, each participant fully and unconditionally agrees and acknowledges that these terms and conditions are binding. The Challenge is a game of skill; chance plays no part in determining the winner/prize recipient.
- The promoter is Westpac Banking Corporation ABN 33 007 457 141 of 275 Kent St, Sydney, NSW (the “Promoter”), tel: 13 82 66. The Promoter and its related bodies corporate (as that term is defined in the Corporations Act 2001 (Cth)) will be known as the “Westpac Group”.
- The Challenge commences at 9:00am AEST on Monday, 10 July 2017 and closes at 11.59pm AEST on Sunday, 13 August 2017 (the “Challenge Period”).
- Entry is open to Australian residents who submit a valid application in accordance with clause 5 during the Challenge Period (an “Eligible Applicant”). Employees and contractors of the Westpac Group and their immediate families are ineligible to enter.
- To enter the Challenge, an Eligible Applicant must, during the Challenge Period,
- visit westpacinnovation.com.au
- complete the entry form and submit it with a proposal (“Entry”).
The Promoter accepts no responsibility for lost, late, incomplete, illegible, or misdirected applications.
The Promoter acknowledges that the Entry is confidential information and that the intellectual property in the Entry belongs to the Eligible Applicant. Subject to clause 8, the Promoter undertakes to ensure that only the judging panel will have access to the entry.
- Judging will be conducted between 14 August 2017 and 23 August 2017. A Shortlist of the Top Five Entries will be notified by phone and/or email by Friday 25 August 2017 that they have been selected to pitch to Westpac at an Innovation Challenge event (“Pitch Event”) to be hosted by the Westpac Group on Thursday 7 September 2017.
- Some applicants may be requested to provide the judging panel with additional information to support their Entry. This may come in the form of a short video describing the Entry or a brief interview between the applicant and the judging panel. Such requests for additional information shall be solely at the discretion of the judging panel.
- The judging panel will be appointed by the Promoter and will vote and nominate a short list of the top 5 Entrants (“Finalists”). For each of these Finalists, the name of the Eligible Applicant and a brief description of the proposal as set out in the Entry will be uploaded to westpacinnovation.com.au on Monday 28 August 2017 to enable public voting for the “People’s Choice” prize.
- The judging panel will vote and nominate a winner of the “Westpac Innovation Challenge” prize and the public will vote for the “People’s Choice” prize as set out in clause 8 above. Voting for both the “Westpac Innovation Challenge” prize and the “People’s Choice” prize takes place from 28 August 2017 to 7 September 2017.
People’s Choice Prize
- In the event the Entry receiving the most votes for the “People’s Choice” prize is the same as the Winner of the “Westpac Innovation Challenge” prize, the “People’s Choice” prize will be granted to the next highest “People’s Choice” vote.
- The winner of the “People’s Choice” prize will receive AUD$5,000 which is to be deposited into a Westpac Group bank account held in the name of the winner of the “People’s Choice” prize (the “People’s Choice Prize”). In the event the People’s Choice Prize winner does not have an existing Westpac Group bank account, the People’s Choice Prize winner is required to open a Westpac Group bank account to receive the People’s Choice Prize. The People’s Choice Prize is not transferable or exchangeable. Westpac Group bank accounts are subject to account opening requirements. If the People’s Choice Prize winner is unable to meet these requirements, the People’s Choice Prize will be forfeited. The People’s Choice Prize winner will be notified in person at the Pitch Event hosted by Westpac on 7 September 2017.
- Eligible Applicants may be promoted on the Westpac Banking Corporation website and social media pages along with additional promotional and media opportunities at the discretion of the Promoter. Promotions may be submitted to shortlisted Entrant for their approval prior to publication, such approval not to be unreasonably withheld, and to be provided within 2 business days.
Westpac Innovation Challenge Prize
- Finalists will be required to participate in pre-pitch training events to be hosted by Westpac Group in Sydney during the week of 28 August 2017. Applicants should prepare to be present in Sydney during this period for up to 3 days
- Finalists must pitch their ideas in person to the Westpac Group at an Innovation Challenge event (“Pitch Event”) to be hosted by the Westpac Group on 7 September 2017. Finalists should prepare to be present in Sydney for the full day. The winner of the Westpac Innovation Prize will be voted by the judging panel and determined to be the most:
- relevant to the Challenge theme of an innovative idea for the Professional Services sector, with a particular focus on legal and accounting segments:
- innovative in finding a better way of doing something;
- insightful and meaning for the key audience, the Professional Services sector; and
- viable and sustainable business idea or solution,
- The judges’ decision will be final and no correspondence will be entered into. The judges, in their sole discretion, may decide not to award the Westpac Innovation Challenge Prize (including in circumstances where insufficient Entries are received or Entries are judged to be of a poor standard).
- The winner of the Westpac Innovation Challenge Prize will receive AUD$40,000 which is to be deposited into a Westpac Group bank account held in name of the winner of the Westpac Innovation Challenge Prize (the “Westpac Innovation Challenge Prize”). In the event the winner of the Westpac Innovation Challenge Prize does not have an existing Westpac Group bank account, the winner of that prize is required to open a Westpac Group bank account to receive the Prize. The Westpac Innovation Challenge Prize is not transferable or exchangeable. Westpac Group bank accounts are subject to account opening requirements. If the winner of the Westpac Innovation Challenge Prize is unable to meet these requirements, the prize will be forfeited.
- For verifiable expenses associated with interstate airfare and local accommodation related to travel to Sydney for Challenge events, Finalists may request reimbursement of up to AUD$1,000 per Entry. An Entry may have multiple representatives who are all covered under the AUD$1,000 cap per Entry. However, each Entry is able to receive a maximum of AUD$1,000.
- Between 8 September 2017 and 2 March 2018, the winner of the Westpac Innovation Challenge Prize agrees to grant the Westpac Group a first right of refusal relating to the purchase or licensing of any associated intellectual property rights. During this period, Westpac will supply the winner of the Westpac Innovation Challenge Prize with additional resources for the purposes of assisting the development of the Winner’s idea. The makeup and extent of such resources shall be supplied at Westpac’s sole discretion.
- The winners of the Westpac Innovation Challenge Prize and the People’s Choice Prize may be liable to declare the prize for taxation purposes and will be liable for any tax payable in respect of a prize. Eligible Applicants should seek independent financial advice in relation to any tax payable on the prize and the potential impact on their personal financial situation prior to entering the Challenge.
- If the Westpac Innovation Challenge Prize is not claimed by Friday, 29 September 2017, the Promoter may conduct such further judging of the submissions received as may be necessary to award the unclaimed Prize. Any subsequent judging will take place at the same place as the original judging, by the same panel of judges. The substituted winner will be notified by telephone using the number disclosed on the entry form and by email to the address disclosed on the entry form on or around Friday 6 October 2017.
- If the People’s Choice prize is not claimed by Friday, 29 September 2017, it will be forfeited.
- Except for guarantees, warranties and conditions implied by law which cannot be excluded, neither the Promoter nor any other member of the Westpac Group make any guarantees, representations or warranties, express or implied, regarding the Innovation Challenge or the quality or suitability of any prize awarded under these terms and conditions.
- To the maximum extent permitted by law, the Promoter and all other members of the Westpac Group expressly disclaim liability for any loss or damage whatsoever (including but not limited to indirect or consequential loss) or for any personal injury which is suffered or sustained in connection with any Eligible Applicant’s participation in this Challenge or the acceptance of any prize. The Eligible Applicant indemnifies the Promoter and all members of the Westpac Group against any liability, injury, loss or damage which may be suffered, incurred or sustained by the Promoter or any member of the Westpac Group arising out of, relating to, or in any way connected with, any act or omission (including negligence) by the Eligible Applicant, or its use of the prize, or breach of these terms and conditions.
- Neither the Promoter nor any other member of the Westpac Group will be responsible for any problems or technical malfunction of any computer online systems, servers or providers, computer equipment, software, failure of any email or submission to be received by the Promoter on account of technical problems or traffic congestion on the Internet.
- If this Challenge is not capable of running as planned for any reason (including but not limited to failure or malfunction of any computer equipment by reason of infection by computer virus, power failure, bugs, tampering, unauthorized intervention, fraud, or technical failures or any other causes which corrupt or affect the administration security, fairness, integrity or proper conduct of this Promotion), the Promoter reserves the right in its sole discretion to disqualify any individual who undermines the integrity or fair running of the Eligible Applicant for other Eligible Applicants, including by tampering with the submission process, and, after consulting with the relevant legislative authorities, to cancel, terminate, modify or suspend the Challenge.