We’ve already got 50 registrations and we’ve caped the event at 80 so if you haven’t got one already make sure you grab your ticket now!
As we are getting closer to the event, and to answer some feedback we’ve received, we’ve decided to give all participants more clarity around the terms of the Pollenizer Ventures $10k investment.
Here are the terms you can find on the event page:
The $10,000 investment prize is to be awarded at the discretion of Pollenizer Ventures. The winning team grants to Pollenizer Ventures an option to acquire an ownership or participation interest of up to 10% of the total ownership or participation interest in any company, corporation, trust, partnership, legal entity or other form of organisation or association of which the winning team retains control. The $10,000 investment prize may not be awarded if no entry is deemed worthy.
The idea is simply that the value and IP that is created by the winning team during the event gets transferred to a freshly setup business of which Pollenizer Ventures takes 10% equity in exchange for $10,000 (which values these 2 days of work at $100,000).
We, of course, won’t be forcing this on anybody. So if for some reason the winning team selected by Pollenizer Ventures doesn’t agree with our terms then no investment will be made and life goes on for this team with no obligation on either sides.
Our goal is definitely to have a great time at the event and see what are the businesses that come out of it! We are all looking forward to it and very happy to be supporting the startup community in any way we can.
Let us know in the comments if you have any other questions or comments on the event.