Rules

Digital Financial Inclusion for Women's Businesses in Pakistan

(the “Challenge”)

CHALLENGE RULES

(the “Rules”)

 

This Challenge is sponsored by Asian Development Bank, 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines (the “Sponsor”).   

The aim of these Rules is to set out the terms and conditions governing your participation in the Challenge. By participating in this Challenge, you fully and unconditionally agree to comply with these Rules.   

The purpose of the Challenge is for Participants to submit original contributions or projects that meet the requirements set out in the Challenge overview. These original contributions or projects are formalized as Deliverables (see Deliverables section).

 

1. TERM

This Challenge begins on November 2, 2022 at 9:00 am (GMT +8) and ends on January 20, 2023. The Challenge will be accessible 24 hours a day on the dedicated Challenge website at https://challenges.adb.org/en/challenges/tech4women (“the Challenge website”), subject to IT maintenance operations. Dates and times in these Rules refer to Greenwich Mean Time + 8H (GMT+8).

 

2. AGREEMENT TO THE RULES 

Any eligible person or team who is registered on the Challenge website and enrolls to participate in the Challenge (“Participant” or “You”), is required to review and accept these Rules. By accessing and accepting these Rules, You: 

• enter into a valid and enforceable contractual relationship with the Sponsor regarding participation in the Challenge. The registration and enrollment in the Challenge does not set up any subordination relationship between the Sponsor and the Participant, and 
• fully and unconditionally agree to comply with these Rules. Participants express their agreement by ticking the agreement box during enrollment in the Challenge.  

In case of non-respect of these Rules, the Participant will be disqualified from the Challenge and seed funding will be awarded.

 

3. REGISTRATION AND PARTICIPATION 

To take part in the Challenge, we must receive your completed registration and required submission by January 20, 2023, 23:59 pm (GMT +8).

To register, the Participant must first have created a user account on the Challenge website and must have truthfully and accurately completed all required information therein.  

Any registration based on inaccurate, false or incomplete information will result in the Participant’s disqualification. Refusing collection, recording and use of their personal data that is strictly necessary to performing the Challenge will result in the Participant’s disqualification. The Participant is solely responsible for the information he/she provides when registering. Any intentional or non-intentional mistake, anomaly or inconsistency, regarding this information, may result in the Participant’s disqualification. The Sponsor reserves the right to conduct all necessary verifications regarding the Participant’s identity, postal and/or email address.  

Deletion of a Participant’s user account on the Challenge website will be deemed as a withdrawal from the Challenge. In this case, the Participant, regardless of whether the deletion results from the Participant’s personal action or not, will not participate in the Challenge, and will not obtain any compensation.  

You must also have accepted the Rules as well as the ADB website’s terms of use during the creation of your user account and your registration to the Challenge. In case you will use sensitive data, you must also sign the Fair Data Use Agreement which outlines the confidentiality rules associated with the data that will provided by ADB.  This agreement is a prerequisite for you to receive and use the dataset. The Agreement is available for download in "Fair Data Use Agreement" tab on the challenge brief.  Please submit the signed Agreement in the same tab. 

Registration for and participation in the Challenge is free, with no purchase or payment obligation.

 

4. ELIGIBILITY 

This Challenge is open to fintech and non-financial services-related technology solutions from all ADB member countries. The submitting organizations should have been active (in existence) for more than three years. Submitting teams may be composed of between 1-10 persons. The Challenge is also offered to: 

• Startups/Technology Providers
  
• Research Organizations
• Corporate Partners

 

5.  DELIVERABLES  

For the duration of the Challenge, participants may upload documents or other materials (such as texts, presentations, videos, etc.) relating to their project to the Challenge website in response and as a solution to the Sponsor’s Challenge (the “Deliverable”).   

To be eligible, Deliverables must (i) address the specific issue set out in the Challenge overview, (ii) be in PDF, PPT, MP3, MPEG, MOV, MP4, format and (iii) be in English, and in general terms must comply with Challenge Rules.   

If a Deliverable cannot be downloaded, is not in the right format or is incompatible, illegible, or unintelligible, the Deliverable will be disqualified. By submitting a Deliverable, the following needs must be respected:  

• The Deliverable includes exclusive contributions from the Participant. 
• Otherwise, if content from a third party has been used in the development of the Deliverable, all rights, authorizations and agreements necessary to submit the Deliverable and grant the rights mentioned herein have been obtained. The use of uncredited, non-proprietary third-party contributions in the Deliverable will result in the disqualification of the Deliverable and the related Participants;  
• No other individual and/or entity is entitled to claim any rights from the use of the Deliverable; and 
• The content of the Deliverable does not and will not infringe or violate any rights of any third party or entity, including, without limitation, intellectual property rights, privacy, competition law, confidentiality, or any contractual or extracontractual right. All deliverables suspected of any law(s) and/or any third party’s right will be ineligible. 
• While the intellectual property and copyright of the submission will be held by the participating team, ADB will be permitted non-commercial fair use of the materials submitted.
• Treat all information about the content of the submission as confidential and not cause or permit such confidential information to be disclosed to any third party until the selected solution is announced, and selected team’s submission is published online by ADB

Participants are responsible for and shall bear any costs or expenses associated with preparing and submitting their Deliverables. Participants assume all risk for damaged, lost, late, incomplete, invalid, incorrect or misdirected Deliverables.

 

6. CHALLENGE PROCESS 

The Challenge consists of several stages: 

• Participants should submit their respective solutions on or before the designated deadline. If a Participant does not upload a Deliverable on the Challenge website before the deadline, this will be considered as a withdrawal from the Challenge. The Participant may not join the Challenge and may not obtain any compensation from the Sponsor. 
• Up to 10 submissions will be pre-selected to proceed to the Pitching. Submissions will be judged according to the Selection Criteria (in the Timeline and Process tab) determined by the jury. You agree and acknowledge that the Challenge relies on your creativity, capacity, ability, and ingenuity to solve difficult problems. The Challenge does not depend, even partially, on chance or luck, and therefore should not be considered as a lottery. Under no circumstances are factors such as appearance, religion, membership in a trade union, political opinions or sexual orientation considered to impact shortlisting probability.  
• Shortlisted teams are paired with ADB experts and other subject matter experts to further understand the context of the problem and refine the proposed solution. 
• The shortlisted teams will get an opportunity to present their final solutions to a panel of experts, henceforth referred to as the Jury. Teams are requested to submit a powerpoint presentation of their solutions, their tools, methods, and results to the Challenge website. Participants are required to upload their Deliverable on the Challenge website one day before the pitching.

Once selection has been completed, Participants will be notified by email on the results of each Round. Selected solution will be announced on the Challenges webpage and will also be notified via email. The Sponsor reserves the right to alter the dates on which results are released should this become necessary due to the number of projects to be assessed.  The ranking decided by the final jury will be announced on the day that presentations are made and will identify the Participants that are finalists.

 

7. SEED FUNDING

Seed funding is provided to the selected solution of the Challenge and are subject to compliance with the following cumulative conditions:  

• The Deliverables comply with (“Deliverables”); 
• Each Participant of a winning project complies with Sections 8 (“Communication”), 9 (“Confidentiality”) and 10 (“Intellectual Property”); 
• It can be proven that the winning Participants fulfil the conditions eligibility of Section 4 (“Eligibility”). 

 

No seed fund will be provided to the selected solution who do not fulfill the above conditions.  

Subject to these Terms and Conditions, once confirmed by the Jury, the selected team(s) will receive the following:  

• Up to US$50,000 seed fund for a proof of concept with a selected Financial Institution in Pakistan to test their solution. Release will be subject to the Sponsor’s standard rules and procedures.  
  

No assignment or transfer of seed fund is allowed by a selected team. If a potential selected team cannot be reached, is unable to accept the seed fund or any portion of the it for any reason, ADB shall have no further obligation to such potential selected team and their solution. ADB will not replace any lost or stolen seed fund after being provided to the selected teams. Selected teams will accept the seed fund “as it is”. ADB disclaims any warranty regarding the Seed Fund.   

In the event a Participant (a selected team) cannot be reached, by email or by phone, for more than three (3) months after the first attempt to reach them was made, he/she will be deemed as having waived their right for their solution to be funded and will not be entitled to any seed funding or any kind of compensation,

If the seed funding as initially planned is unavailable, ADB will be free to substitute another funding of similar value. Any such decision is at ADB’s sole discretion.  

Any Participant who does not fulfil the conditions of Participation as provided in the Rules during their registration and/or at any time during the Challenge will be summarily disqualified from the Challenge without prior notice and will not be entitled to any seed funding. In the event that the seed fund is already given to a Participant who does not meet the conditions of Participation when registering or throughout the duration of the Challenge, ADB reserves the right to require the Participant to withdraw the seed fund and contract.

 

8. COMMUNICATION  

The Participant acknowledges and consents that ADB may, for the duration of the Challenge and for a period of one (1) year following the Grand Final or Recognition Ceremony, use the Challenge for publicity, including for the Sponsor’s advertising or other marketing purposes, (by any means and through any format such as website, advertising banners, social networks, newsletter, press release) now known or unknown to date, free of charge or for a consideration. 

In particular, you consent to the use, by ADB, of your name and surname, your city and region of residence, the name of the institution in which you studied or in which you obtained your diplomas and other biographical information, your image, the information regarding the Seed Fund (if you are a selected team), the name of your company and its distinctive signs (if you are a Startup) and any other personal data that you submit with your Deliverables as well as the content of your Deliverables relating to the Challenge.   

As an example, each Participant authorizes ADB to use the photographs taken during the Ceremony or Awarding to disseminate them via any communication medium.  

Such use does not entitle the selected team to any other payment than the Seed Fund he/she received. The Sponsor agrees to cease use of the aforementioned elements in connection with the Participant at the end of the aforementioned period.

 

9. CONFIDENTIALITY 

ADB has no obligation to keep the information contained in the Deliverables confidential. In general terms, when submitting any Deliverables, the Participants understand, agree and accept that any information contained therein may be publicly disclosed by ADB.  

If you are a selected team, the Sponsor may request that you execute a confidentiality/non-disclosure agreement for the purpose of entering into negotiations regarding the further development of your project, as described in your Deliverable. Such confidentiality/non-disclosure agreement will be directed to your Deliverable and all intellectual property that it may contain.  

Furthermore, Participants acknowledge that ADB may currently or in the future be developing information internally, or receiving information from other parties, that is similar to the information contained in any of the projects. Accordingly, nothing herein shall prohibit the Sponsor from independently acquiring, developing, or having developed for it, products, concepts, systems, services, or techniques that are similar to or compete with the products, concepts, systems or techniques contemplated by or embodied in any Deliverable.   

The Participants recognize that other Participants, individuals or entities may have provided to ADB or others, or made public, or may in the future submit, or make public, content that is the same or similar to any piece of information contained in any of the projects. Hence, the Participants acknowledge, agree, and accept that ADB shall have the right to use such same or similar materials, and that the Participants will not be entitled to any compensation arising from the Sponsor’s use of such materials.

 

10. INTELLECTUAL PROPERTY

 Definitions. For the purposes of this section,   

• "Intellectual Property Rights" refer to any copyright or other rights over a brand, a design or a model, a patent and, more generally, any element, (including trade secrets and knowhow), that may be protected by national and/or international laws or conventions on intellectual property (“Intellectual Property Rights”) 
• “Previous Rights” refer to any Intellectual Property Rights and/or any associated know-how held by the Participants before the start date of the Challenge (“Previous Rights”)  
• “Creations” refer to any software (including source and object code software), database, technical specifications, text, design, model, information, knowledge, method, process or product, as well as any resulting elements and/or processes likely or otherwise to be protected according to national and/or international laws or conventions on intellectual property developed by any Participant as a part of any submitted deliverable throughout the Challenge (“Creations”). 

Warranty of non-infringement. When submitting any Deliverable, at any stage of the Challenge, each Participant guarantees to ADB that he/she is the co/owner and/or co/holder of the Intellectual Property Rights regarding all or part of the Creations contained in the Deliverables submitted at any stage of the Challenge, and that he/she has obtained all rights and permissions regarding all pre-existing Creations and any elements of the Deliverables for which he/she does not hold the relevant rights.  

Each Participant guarantees (i) that his/her contribution is original and unprecedented; (ii) that it does not infringe upon the copyright or any Intellectual Property Rights of any third party; (iii) that all the elements of which his/her submissions are formed, as well as all pieces of contributions and information communicated in the submission presentation documents are accurate, reliable and complete; and (iv) that the submission of the relevant Deliverables does not constitute an act of unfair competition of any kind. 

While the intellectual property rights and copyright of the submission will be held by the participating teams, the Sponsor will be permitted non-commercial fair use of the materials submitted. Furthermore, participant will treat all information about the content of the submission as confidential and not cause or permit such confidential information to be disclosed to any third party, until the selected team and their solution is announced and their submission is published online by ADB. 

It is compulsory for Participants to indicate the source of any pre-existing Creations of whichever nature and on whichever support that are included in any submitted deliverable. Any Deliverable involving several Participants constitutes a collaborative work and it should be treated as such in accordance with the applicable regulation in force.  

Liability. ADB cannot be held liable for any infringement of the above provisions by Participants. Each Participant shall indemnify the Sponsor against any disturbance, action, claim, opposition and demand or eviction attempt from any third party in connection with any Creation in the Deliverables (Intellectual Property Rights included).  

By submitting a Deliverable and participating in this Challenge, you are not granting ADB any rights to any intellectual property supporting all or part of the Deliverable and the Sponsor makes no claim to ownership of your Deliverable or any intellectual property that it may contain.

 

11. MODIFICATION OF RULES, SUSPENSION AND CANCELLATION OF THE CHALLENGE 

Update of the Rules. ADB reserves the right to amend these Rules at any time, including the Challenge duration in case of operational imperatives, without prior notice to Participants regarding the enforcement or the validity of these amendments.  Participants are encouraged to consult these Rules regularly. Participants expressly waive all claims or disputes related to any amendment to these Rules by the Sponsor.   

Should any paragraph of these Rules be declared or judged illegal, unenforceable or void by a court decision, the paragraph in question will be considered null and void, but all other unaffected paragraphs will be enforced within the limits of the law.  

Challenge Cancellation or Suspension. ADB reserves the right in its discretion, to (i) cancel, terminate, modify or suspend the Challenge and these Rules, for any reason, at any time and without any liability, and (ii) to limit or restrict participation in the Challenge. The Sponsor will not be held liable for the modification, cancellation or suspension of the Challenge and no compensation or remuneration will be due to the Participants.

 

12. LIMITATION OF LIABILITY 

ADB will in no way be held liable in the event of breakdown or failure, regardless of the cause, of any telecommunications network used that causes Participants difficulty in or prevents Participants from identifying themselves on or gaining access to the Challenge website. 

Participants agree that the company, its affiliates and all of their respective officers, directors, employees, contractors, representatives and agents (“released parties”) will have no liability whatsoever for, and will be released and held harmless by participants for any claims, liabilities, or causes of action of any kind or nature for any injury, loss or damages of any kind including direct, indirect, incidental, consequential or punitive damages to persons, including without limitation disability or death. Without limiting the foregoing, everything on the challenge website and in connection with the challenge is provided “as is” without warranty of any kind, either express or implied, including but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. Some jurisdictions may not allow the limitations or exclusion of liability for incidental or consequential damages or exclusion of implied warranties, in which case such limitation or exclusion shall apply only to the extent permitted by the law in the relevant jurisdiction.   

Participation in the Challenge implies acknowledgement and acceptance of the characteristics, limits and risks of the internet and related technologies, particularly with regards to performance, response time, security of software and computer equipment against various potential attacks, such as viruses, logic bombs or Trojans, and loss or misuse of data. As a result, ADB will not be held liable in any way for any damage incurred by Participants arising from these characteristics, limits and risks, which Participants accept by registering and taking part in the Challenge.  

The Sponsor will not in any case be held liable for damages resulting from faults with or delays in the submission of deliverables by Participants, including refusal to accept these deliverables as a consequence of their submission outside the deadlines set out in the Rules, from faults with or delays to the sending of any emails by the Participant sent as part of the Challenge, or from any alterations made to the deliverables independently of ADB.  

ADB will not in any case be held liable for damages resulting from services provide by a third-party relating to the seed fund. The Sponsor will not be held liable for the consequences of a Participant’s disqualification from the Challenge as a result of their violation of these Rules.

 

13. PERSONAL DATA PROTECTION  

Participation in the Challenge requires the communication of the Participant's personal data ("Personal Data").  

Participant’s personal data is subject to processing within the meaning of the regulations on the protection of personal data (The EU 2016/679 General Data Protection Regulation and the Council of 27 April 2016, known as GDPR) for which ADB defines the purposes and means and is, as such, “Data controller” within the meaning of the GDPR.  

The purposes of the processing are:   

• To meet the organization of the challenge needs  
• To organize the intermediation between the Participant and ADB, to ensure identification, communication and preservation of the exchanges with the Participant 

In accordance with the provisions of the GDPR, ADB undertakes to implement organizational and technical security measures in order to protect all Participant’s Personal Data. The Sponsor undertakes these measures to allow the exercise of Participants’ rights from GDPR.

 

14. CLAIMS  

Any Participant’s claims arising from the Challenge, should be addressed no later than thirty (30) days following the Challenge end date to digital@adb.org. All claims must include: (i) the Participant’s complete contact details (name, address, email address and phone); (ii) the name of the Challenge; and (iii) a clear and detailed explanation for the claim.

 

15. SETTLEMENT OF DISPUTES

In the event of a dispute, controversy or claim arising out of or relating to these Terms and Conditions, including a dispute as to the validity or existence of these Terms and Conditions and/or this clause, you and we shall use our best efforts to amicably settle any differences and disputes through direct negotiation. Any dispute, controversy or claim that remains unresolved within eighty (80) days from the date either you or we have notified the other of the nature of the dispute and of the measures that should be taken to rectify it shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC”) in accordance with the Arbitration Rules of the Singapore International Arbitration Centre ("SIAC Rules") for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of arbitration shall be Singapore. The language of the arbitration shall be English. The number of arbitrators shall be one.