Fikra Accelerator Programme Terms & Conditions (“Terms”)

Fikra Accelerator (“Programme”) is a 2-month accelerator focusing on supporting and bringing more value to startups by giving them world-class assistance and guidance with exclusive mentors, valuable workshops with seasoned experts and scaling their businesses via regional market expansion and investment opportunities. The programme is organized by Securities Commission Malaysia in partnership with NEXEA Group Sdn Bhd (Formerly known as NEXEA Angels Sdn Bhd) (“Organisers”).

The Programme is governed by these Terms, is subject to all applicable laws, and is void to the extent prohibited or restricted by law. Organisers may perform any of its activities or exercise any of its rights in connection with the Programme, whether or not described in these Terms, directly or via one or more designees. In these Terms, references to “you” or the “Company” shall mean to the person or company applying for selection to participate in this Programme.

The Application Period for the Programme will take place via online registration. Online registrations which include the submission of information and pitch deck will be accepted starting from 10th July 2024 to 29th July 2024. In its sole discretion, Organisers may extend the Application Period by a further 2 weeks to 12th August 2024, which will be notified to potential applicants via the Programme website. Applying for the Programme does not guarantee a spot to participate in the Programme.

The Organisers will announce the short-listed applicants for the next stage and applicants will be interviewed by Organisers (“Interview”) in late July-early August. Finally, 25 successful applicants will be selected (“Selection”) to join the programme. The Selection’s result will be announced by mid-August. In its sole discretion, Organisers may amend the announcement of both short-listed and selected participants, without prior notice.

Selected participants will be required to confirm their commitment and participation for the whole programme (a) within the timeframe specified by the Organisers, or/and (b) at least 5 days prior to commencement of the Programme (“The Orientation Day”) to the Organisers.

Organisers reserve the right, in its sole discretion and without prior notice, to determine or adjust the number of finalists or Participants, and any alternate finalists or Participants selected, or to adjust any of the dates and/or time frames stipulated in these Terms, either for purposes of verifying a Participant’s compliance with these Terms, or as a result of technical problems, or in light of any other circumstances that, in Organisers opinion, affect the proper administration of the Programme as contemplated in these Terms.

By submitting an application to participate in the Programme, (a) you agree to comply with all applicable laws, these Terms, and any other guidelines or instructions provided to you by Organisers, (b) you represent and warrant that you have the authority to bind your Company and its participants to these Terms, and (c) you agree that all decisions of Organisers are final and binding on you, your Company, and its participants.

To the extent that there is any inconsistency between these Terms and any Programme-related materials, including but not limited to social media, website content, and television, print, or online advertising, these Terms shall govern.

There are no fee charges to apply for entry to and to participate in the Programme except those charges stated in Section 4.

You may only apply to participate in the Programme, (a) if you are a company incorporated in Malaysia, and all intended participants from your Company within the Programme are at least 18 years old at the time of registration, (b) if you are a company in a scalable technology business or with business operations mainly driven by technology. In addition, employees of Organisers are not eligible to apply for entry to the Programme.

Organisers may request valid proof of eligibility, including with respect to identity, corporate organisation, age and other relevant documentation, and may disqualify an application or Participant at any time without notice for any reason, including, without limitation, if Organisers determine (in its sole discretion) that the provided proof is not sufficient or the applicant or Participant does not otherwise meet the Programme’s eligibility criteria, or the applicant or Participant fails to comply with these Terms or attempts in any way to disrupt or undermine the Programme or to circumvent any of these Terms.

Your application will be subjected to these Terms and Privacy Policy. There are 2 parts to the application process, which are (a) the first application form (“Form 1”), where you must submit accurate information to some basic questions (including the name of the applicant, company name, email address, phone number and startup website/LinkedIn) and accept the Terms & Policy displayed as part of the registration process in order to apply to participate in the Programme; (b) the second application form (“Form 2”), where you must submit accurate information to more questions (including the name of applicant, startup name, registered company name, gender, email address, team size, ethinic group, current business address, number of founder(s), phone number, state, another PIC phone number, detailed summary of your startup, current company stage, your startup’s industry, current cloud technology, technology, sector) and upload a PDF formatted pitch deck to complete your full application to the Programme.

Your full application must be received by 11:59 P.M. (Malaysia time) on the last day of the Application Period (or any extension thereof) to be considered for the Programme. Organiser’s systems shall serve as the official clock for purposes of the application deadline. All applications must be in English.

It is solely your responsibility to ensure that you have properly registered and submitted your application. Organisers will not be responsible for any lost, delayed, misdirected, incomprehensible, incomplete, damaged, garbled or undeliverable registrations or applications, or any delay or failure to transmit, process, receive or consider registrations or applications.

If you change your telephone number, email address, and/or street address after registering for and applying to the Programme, it is your sole responsibility to promptly notify Organisers by email notice in Section 14.

Organisers will screen all Participants’ applications. You may be required to prepare and submit further information or materials which set out details about your company, its products and capabilities, and any other information that Organisers may require including financial details in order to assess your application against Organisers’s selection criteria through the email you provide. Given the short time period between the end of the Application Period and the Selection of Participants, you are encouraged to submit any requested information or materials as soon as possible.

Shortlisted Participants will be notified to attend the Interview by email and/or phone call. Detailed information for the interview (date, time, agenda, etc) will be included through the notification email and/or phone call. You are required to respond (“Yes” or “No”) to the Interview invitation within 2 days after the invitation has been communicated to you.

Organisers will select a certain number of Participants to join the Programme (“Selected Participants”). The email announcement to Selected Participants will be sent out by mid-August. Selected Participants will only be qualified for the Programme if they confirm their commitment and participation for the whole programme (a) within the timeframe specified by the Organisers, or (b) at least 5 days prior to commencement of the Programme (The Orientation Day), by returning a signed copy of an agreement, that will govern the terms and conditions of participating in the Programme (“Participation Agreement”), to the Organisers. Failure to confirm your participation as stipulated, Organisers have the right to disqualify your Participation’s right and to replace you with another qualified Participant. The Participation Agreement includes terms which will apply both during and following the completion of the Programme. Decisions of Organisers with respect to all aspects of the Programme will be final and binding.

By submitting an application to the Programme, you represent and warrant that:
1. You and your company satisfy all of the eligibility requirements and criteria set forth in these Terms;
2. You are the original creator of the proposed Pitch Deck;
3. You are the sole owner of, or you have obtained all necessary and appropriate rights, licences, and permissions to use the proposed Pitch Deck and all materials or content in and on the Pitch Deck and your presentation (if any);
4. The proposed Pitch Deck does not infringe or violate any Third-Party Rights, so none of the Organisers will infringe any Third-Party Rights when they copy, display, modify, transmit or otherwise use the proposed Pitch Deck in connection with the Programme or in any other way contemplated herein; and
5. The proposed Pitch Deck is not the subject of any actual or threatened litigation, claim, or dispute.

Organisers reserve all rights and remedies in the event that, both of them determine that any of the above representations and warranties is materially false, including but not limited to disqualifying you at any point prior to or after selecting Participants or commencing the Programme.

You and your Company will be responsible for all expenses relating to attendance at meeting(s), such as Orientation Day, Demo Day and etc (in the event that you are selected as a finalist or a participant). The location of such meeting(s) will be determined by Organisers at its sole discretion.

If for any reason Organisers cannot run the Programme as planned due to any force majeure events (including without limitation as a result of bugs, tampering, unauthorised intervention, fraud, technical failures, infection by a computer virus or any other cause that corrupts, impairs or affects the administration, security, fairness, integrity, or proper conduct of this Programme), Organisers may cancel, modify, extend or suspend the Programme in its sole discretion.

You and your Company will retain ownership of any intellectual property rights in any ideas, concepts, data, solutions, information or materials that your or your Company owned, created, or discovered prior to, or otherwise independently of, your application to or participation in the Programme (“Background IP”). However, by applying to participate in this Programme, you acknowledge and agree that any Background IP or other materials or information that you share in your application or subsequently provide to Organisers or their partners during the application or selection process are not confidential or proprietary to any other party.

If your application or any additional materials or information provided includes likenesses of third parties or contains content or elements not owned by you, you must be able to provide signed written legal releases (in a form that is satisfactory to Organisers) that permit you to use and disclose such content and elements in the manner used and that permit the Organisers to use the content and elements in accordance with these Terms.

By submitting a proposed Pitch Deck or materials or information to Organisers in your application, you acknowledge and agree that your proposed Pitch Deck may be similar or identical in theme, idea, format or other respects to (a) other proposed Pitch Deck submitted to Organisers in connection with this Programme or for other reasons or (b) other materials developed by the Organisers or their partners or suppliers. To the maximum extent permissible by law, you waive any and all past, present, and future claims that any proposed Pitch Deck or other materials accepted, reviewed or used by the Organisers may be similar to your proposed Pitch Deck.

You agree that Organisers and their affiliates exclusively own and shall retain all worldwide right, title and interest in and to the Organisers Materials and Organisers trademarks, service marks, logos, trade dress, trade names or service names (“Organisers Marks”) (collectively, “Organisers IP”), including without limitation all intellectual property rights therein. Nothing in these Terms grants you any rights to use any Organisers Marks. No title to or ownership of any Organisers IP is granted or otherwise transferred to you or any other entity or person under these Terms, and any rights not expressly granted herein are withheld. You agree to cooperate with Organisers to maintain Organisers ownership of the Organisers IP, and you agree to promptly provide notice of any claims relating to the foregoing. “Organisers Materials” include all Organisers APIs or other materials, documentation, data, content, or code to which you or your Company may have access before or during the Programme.

You agree that you will not issue any press release or make any public statement or disclosure about the Programme without Organisers’s prior written consent, and that failure to comply with this may result in disqualification.

You acknowledge and understand by attending any Programme-related event as a participant, either in person or virtually, you agree that Organisers and the Organisers Parties may photograph, videotape and otherwise record footage of you in relation to your participation in the Programme (collectively, “Footage”). By submitting an application or any materials, you hereby warrant and represent that you have secured the same consent from each participant from your Company. Footage, including all copyright and other rights therein and thereto, will be owned by Organisers, and the Organisers Parties will have the right but not the obligation to use, edit, copy, publish and exploit such Footage and all elements embodied therein, in whole or in part, in any and all media now known or hereafter devised throughout the world, in perpetuity, for advertising, publicity, promotional, trade and other purposes without further notification, permission, or consideration. You agree to complete any further release required by Organisers in relation to such Footage or your participation in the Programme.

Except where otherwise prohibited by law, you consent to the Organisers Parties’ use of your Company’s name as well as your name, voice, likeness, biographical information and other indicia of identity in any and all media now known or hereafter devised throughout the world, in perpetuity, for advertising, publicity, promotional, trade, and other purposes in relation to the Programme without further notification, permission, or consideration. You also grant to the Organisers Parties a revocable, non-exclusive, non-transferable licence to use your or your Company’s trademarks, service marks, logos, trade dress, trade names and service names to publicise your participation in the Programme.

By submitting an application, you are representing and warranting that you have secured the same consent from each participant from your Company equivalent to the consents in the preceding paragraph and you agree that you will secure the same written consent from any person who accompanies you or accompanies a participant from your Company to any Programme-related event or other Organisers event. You agree that you will provide the Organisers Parties with copies of the written consents required by this Section upon request by the Organisers Parties.

The organisers parties do not accept liability for any loss or damage resulting directly or indirectly from your participation in the programme, your receipt, use or redemption of any benefits, or your inability to receive, use or redeem any benefits.

The organisers parties shall not in any circumstances be responsible or liable to you for: (1) incorrect or inaccurate transcription of registration or application information or late, lost, incomplete, misdirected applications, or registrations or solutions received through impermissible or illegitimate channels; (2) technical failures of any kind, including the malfunctioning of any telephone, computer, network, hardware or software; (3) unauthorised human intervention in any part of the registration, application or selection process of the programme; (4) electronic or human error which may occur in the administration of the programme or the processing of registrations or applications or in the selection process; or (5) any injury or damage to persons or property, including your computer, which may be caused, directly or indirectly, in whole or in part, from your participation in the programme or from downloading or using any material provided by organisers.

The organisers parties will not be liable to you for any indirect, special, consequential, or punitive damages in connection with the programme, any benefit, or these terms. The organisers parties’ maximum aggregate liability to you howsoever arising (whether for breach of contract, tort, (including negligence or otherwise) out of or in connection with the programme is limited to direct losses only and shall in no circumstances exceed the sum of one thousand ringgit malaysia (RM1,000).

You hereby release and agree to indemnify and hold harmless the organisers parties from any and all damages, injuries, claims, causes of action, liabilities, costs and expenses (including legal fees and expenses), or losses of any kind, known or unknown, absolute or contingent, now or in the future (including but not limited to personal injury or death) arising from or related to: (a) any breach or alleged breach by you of any representation, warranty, or obligation contained in these terms; (b) any misrepresentation you make under these terms or otherwise to organisers; (c) your participation in the programme; or (d) your receipt, use or redemption of any benefit, or your inability to receive, use or redeem any benefit within the programme.

Organisers may collect personal information from Participants for organisers own use or legitimate interests, including for the purposes of administering and advertising the Programme. All personal information collected from you during the registration and application process or thereafter in connection with the Programme will be processed in accordance with Organisers Privacy Notice and any preferences expressed by applicants during the Programme. You have the right to access, withdraw, and correct personal information held about you, and to oppose the collection or processing of it. You may request such action by contacting Organisers at [email protected]. Your personal information may also be shared with selected Organisers affiliates, partners or clients in order to administer or facilitate participation in the Programme.

Whenever you submit any information to us in order to administer the Programme, you agree and permit Organisers to store and process this information in different countries from where you reside, including Singapore, Thailand, Indonesia, etc. Please note that these countries may have different laws and requirements about privacy and data use than where you live.

The Programme, these Terms, and any matter arising out of or in connection with them are governed by the laws of Malaysia and are subject to the exclusive jurisdiction of the Malaysia courts, and you hereby waive and agree not to pursue any actions in any other jurisdiction or venue.

Failure by Organisers to enforce any term of these Terms will not constitute a waiver of that or any other provision.

You acknowledge that nothing in these Terms will constitute an employment, joint venture, or partnership relationship between you and Organisers. In no way are you to be construed as the agent or to be acting as the agent of Organisers in any respect, and vice versa.

Organiser of the Programme, Securities Commission Malaysia, having an office and its principal place of business at 3, Persiaran Bukit Kiara, Bukit Kiara, 50490 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur. Organiser of the Programme, NEXEA, having an office and its principal place of business at B-06-02, Sunway Geo Avenue, Jalan Lagoon Selatan, Bandar Sunway, 47500 Subang Jaya, Selangor.

For more information about Fikra Accelerator Programme, kindly email the following email address: Securities Commission Malaysia [email protected]