Economic Fuel | Official Rules and Entry Guidelines

2009 Official Rules and Entry Guidelines
Economic Fuel: The Humboldt County Student Business Challenge
Read, understand, and sign the Official Rules and Entry Guidelines and Fund Release Certification.

Step 1: Competition Guidelines

To qualify for the Business Challenge, a proposed venture must:

Plan to be profitable or at least financially sustainable;

Maintain its principal place of business in Humboldt County;

Base a majority of its employees in Humboldt County; and

Engage in a lawful activity.

Proposals for the acquisition of, or merger with, an existing company, corporation, or other business enterprise are ineligible. Likewise, business plans involving existing businesses, except as defined in Rule 3, or the acquisition of franchises, are ineligible. The proposed venture may not be a subsidiary of an existing entity (either for-profit or non-profit).

If all other eligibility criteria are satisfied, an existing business is only eligible if it has received less than $25,000 in total funding from any source, and has accrued/received less than $50,000 in gross revenue prior to registration for Economic Fuel.

Team members understand and agree that their names, likenesses and business plans may be publicized in connection with Economic Fuel without the payment of any compensation. Each team member agrees to be interviewed and photographed by The Eureka Reporter, upon request, in connection with Economic Fuel.

Participating teams, and any business entities associated with them, release and discharge The Eureka Reporter, LLC, SN Servicing Corporation, the Judging Panel, and the owners, members, directors, officers, employees and agents of those entities (the “released parties”), from any and all liability associated with participation in Economic Fuel and with the start-up and operation of any businesses described in the business plans. The released parties shall not be deemed the principals, employers, supervisors, joint venturers or partners of any participating teams or team members. Winning teams, if any, will not be entitled to receive anything other than the prize money.

Teams shall not present any information to the Judging Panel, orally or in writing, that they deem to be confidential, proprietary or commercially sensitive. Information presented will not be kept secret. Teams grant permission to The Eureka Reporter, LLC, and to all others, to publish, broadcast, display, reproduce, record or summarize their oral and/or written presentations, in whole or in part. All submitted materials become the property of The Eureka Reporter, LLC, and will not be returned to the teams at the conclusion of Economic Fuel.

All determinations regarding (a) whether teams have satisfied the Eligibility Criteria and the Official Rules, (b) what constitutes a meritorious business plan and successful entry, (c) the allocation of prizes, and (d) the administration and conduct of Economic Fuel shall be made in the complete and absolute discretion of the Economic Fuel Team and the Judging Panel and shall be final. The determinations of the Economic Fuel Team and the Judging Panel shall not be subject to any legal or equitable challenge in any court or other judicial, quasi-judicial or administrative forum. The Judging Panel’s evaluation of the business plans and oral presentations will be subjective in nature. There are no guarantees, representations, or express or implied warranties that any team entering Economic Fuel will prove successful or receive any prize.

There shall be a maximum of eight prizes, including up to four “Grand” prizes of $25,000 per prize, up to one “First Runner Up” prize of $10,000, up to one “Second Runner Up” prize of $5,000, and up to two “Honorable Mentions” of $1,000 per prize. As many as eight teams will be selected as finalists to compete for these prizes based on the quality of their written business plans and elevator pitch presentations. The finalists will make oral presentations, and will be evaluated based on both their written business plans, and their oral presentations.

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2009 Official Rules and Entry Guidelines Economic Fuel: The Humboldt County Student Business Challenge Read, understand, and sign the Official Rules and Entry Guidelines and Fund Release Certification.
Step 1: Competition Guidelines					EF
1.	To qualify for the Business Challenge, a proposed venture must:
a.		Plan to be profitable or at least financially sustainable;
b.		Maintain its principal place of business in Humboldt County;
c.		Base a majority of its employees in Humboldt County; and
d.		Engage in a lawful activity.
2.	Proposals for the acquisition of, or merger with, an existing company, corporation, or other business enterprise are ineligible. Likewise, business plans involving existing businesses, except as defined in Rule 3, or the acquisition of franchises, are ineligible. The proposed venture may not be a subsidiary of an existing entity (either for-profit or non-profit).
3.	If all other eligibility criteria are satisfied, an existing business is only eligible if it has received less than $25,000 in total funding from any source, and has accrued/received less than $50,000 in gross revenue prior to registration for Economic Fuel.
4.	Team members understand and agree that their names, likenesses and business plans may be publicized in connection with Economic Fuel without the payment of any compensation. Each team member agrees to be interviewed and photographed by The Eureka Reporter, upon request, in connection with Economic Fuel.
5.	Participating teams, and any business entities associated with them, release and discharge The Eureka Reporter, LLC, SN Servicing Corporation, the Judging Panel, and the owners, members, directors, officers, employees and agents of those entities (the “released parties”), from any and all liability associated with participation in Economic Fuel and with the start-up and operation of any businesses described in the business plans. The released parties shall not be deemed the principals, employers, supervisors, joint venturers or partners of any participating teams or team members. Winning teams, if any, will not be entitled to receive anything other than the prize money.
6.	Teams shall not present any information to the Judging Panel, orally or in writing, that they deem to be confidential, proprietary or commercially sensitive. Information presented will not be kept secret. Teams grant permission to The Eureka Reporter, LLC, and to all others, to publish, broadcast, display, reproduce, record or summarize their oral and/or written presentations, in whole or in part. All submitted materials become the property of The Eureka Reporter, LLC, and will not be returned to the teams at the conclusion of Economic Fuel.
7.	All determinations regarding (a) whether teams have satisfied the Eligibility Criteria and the Official Rules, (b) what constitutes a meritorious business plan and successful entry, (c) the allocation of prizes, and (d) the administration and conduct of Economic Fuel shall be made in the complete and absolute discretion of the Economic Fuel Team and the Judging Panel and shall be final. The determinations of the Economic Fuel Team and the Judging Panel shall not be subject to any legal or equitable challenge in any court or other judicial, quasi-judicial or administrative forum. The Judging Panel’s evaluation of the business plans and oral presentations will be subjective in nature. There are no guarantees, representations, or express or implied warranties that any team entering Economic Fuel will prove successful or receive any prize.
8.	There shall be a maximum of eight prizes, including up to four “Grand” prizes of $25,000 per prize, up to one “First Runner Up” prize of $10,000, up to one “Second Runner Up” prize of $5,000, and up to two “Honorable Mentions” of $1,000 per prize. As many as eight teams will be selected as finalists to compete for these prizes based on the quality of their written business plans and elevator pitch presentations. The finalists will make oral presentations, and will be evaluated based on both their written business plans, and their oral presentations.
			Page 1 2 3 4	Next >>>