BIG IDEA COMPETITION 2025

1. Introduction & Participation Guidelines

1. 1. These terms and conditions (“Terms”) govern your participation in the V-Guard Big Idea Business Plan 2025 (“Competition”) organized by V-Guard Industries Ltd. (“Organiser”/ “VGIL”). Students from Indian institutions currently pursuing a two-year MBA or equivalent course from any recognized institution are eligible to participate in the competition.

1. 2. For the purpose of these Terms, “you” and “your” shall refer to the individual and the team consisting of three (3) eligible individuals collaborating and participating jointly in the Competition (“Team(s)”) and the entire team shall participate for and on behalf of their university/ college. It is expressly clarified that the Team shall act as a single entity for all purposes related to the Competition, including but not limited to registration, submissions (as defined below), evaluations, and prize disbursement.

1. 3. Acceptance of these Terms by the individual registering for the Competition shall be deemed acceptance by all other members of the Team as well as the university/ college.

1. 4. Participants must register through the official Competition platform https://www.vguard.in/contest/index

1. 5. By submitting your concept notes, business plans, pitch deck, prototype, code, design, any other document, and/or other responses to the Competition (“Submissions”), you explicitly acknowledge and agree to comply with these Terms in its entirety.

1. 6. These rules apply to all competitions, prize draws, promotions, giveaways and such like that are promoted on and run through our website or social media channels.

1. 7. The Competition is open to current students who meet all of the following requirements:

1. Students currently pursuing a two-year MBA or equivalent course from any recognized institution.
2. Both 1^st year and 2^nd year MBA students are eligible to participate in the contest
3. 4^th and 5^th year students of Integrated MBA or equivalent courses are also eligible.

1. 8. A student may participate individually or in a Team. In case of a Team, the maximum number of members allowed is three (3). All members must belong to the same business school. Intercollegiate Teams are not permitted.

1. 9. You may only be a member of one (1) Team. Participation in multiple teams will result in immediate disqualification of all teams involved.

You must continue to be eligible to participate from the date of registration till the completion of the Competition (i.e. completion of distribution of Prizes). Should your enrollment status change at any time during the Competition, in such case, the organizer shall have the right either to ask the participant to remedy the same forthwith or to disqualify the participant forthwith without giving any notice. 

1. 10. The Organiser reserves the right to verify the eligibility of participants at any stage of the Competition. You must provide proof of your enrollment and any other details requested by the Organiser. Failure to comply with verification requests will result in disqualification.

1. 11. Submissions must adhere to the guidelines and instructions provided by the Organiser on the Platform and/or any other means of communication. This includes but is not limited to submission formats, timelines, and content structure. Submissions that fail to comply with these instructions will not be considered for evaluation, and the respective Team will be disqualified.

1. 12. You are responsible for ensuring that your Team’s Submissions are free from malware, viruses, or corrupted files. Any technical errors or malfunctions, such as server downtime, connectivity issues, submission platform failures, file corruption, compatibility problems, or non-receipt of Submissions due to participant error, negligence, or factors beyond the Organiser’s reasonable control, will not be held against the Organiser.

1. 13. The Competition shall open on 9^th July 2025 and close on 27^th September 2025. You are solely responsible for ensuring that your Team’s Submissions are completed, formatted correctly, and successfully submitted/ uploaded within the prescribed timelines and guidelines. The Organiser reserves the right to disqualify Submissions that are incomplete, inaccessible, or otherwise non-compliant due to such errors, without providing any compensation or opportunity for resubmission.

1. 14. You may not delegate or transfer participation rights. Proxy participation is strictly prohibited.

1. 15. All Submissions must constitute original works created exclusively by the registered Team members. Any instance of plagiarism, fraud, or misrepresentation, including but not limited to the unauthorized use of third-party intellectual property or confidential information, will result in immediate disqualification of the Team and may further subject the Team to additional actions as deemed appropriate by the Organiser and/ or as prescribed under laws. You are solely responsible for ensuring that your Team’s Submissions comply with all applicable intellectual property laws and do not infringe upon the rights of any third party or disclose any proprietary or confidential information.

1. 16. You must register your Team for the Competition through the official registration page on the Platform by paying the requisite fees. All registrations must include accurate and complete information, including the names, age and other details of all Team members, along with a copy of a valid identification card issued by the University/ College.

1. 17. Submissions must be made by the designated deadline, which will be communicated on the Platform or using such other manner as the Organiser deems fit. It is expressly clarified that late Submissions shall not be accepted/considered under any circumstances. All Submissions must be in English and adhere to the specifications specified by the Organiser.

1. 18. Submission of an entry to the Competition does not guarantee funding, incubation support, commercialization, or the establishment of any formal partnership with the Organiser. Any such opportunities, if offered, shall be at the sole discretion of the Organiser and subject to separate terms and conditions as may be mutually agreed.

2. Prize
   1. The total prize (collectively “Prize(s)”) available for distribution shall be as follows:

1. the Team declared the overall winner of the Competition shall receive a cash prize of INR 3,00,000 (Indian Rupees Three Lakh );
2. 1^st Runner-up Team shall receive a cash prize of INR 2,00,000 (Indian Rupees Two Lakh);
3. 2^nd Runner-up Team shall receive a cash prize of INR 1,00,000 (Indian Rupees One Lakh);
4. Two Special Jury Award Teams shall receive a cash prize of INR 25,000 (Indian Rupees Twenty Five Thousand) each. 

1. 2. All Prizes are subject to applicable taxes, deductions, and statutory compliance as per Indian law. The Prize(s) are non-transferable, non-exchangeable, and will be disbursed only to the designated bank account(s) provided by the winning Team(s) in compliance with the Organiser’s instructions and to the designated bank account provided by such Team member who has registered the Team on the Platform, provided that such bank account is in the name of such Team member.

1. 3. The Organiser shall not be liable for any delay or failure in prize distribution arising from the provision of incorrect, incomplete, or unverifiable information by any winning Team.

1. 4. All decisions regarding Prize allocation and distribution made by the Organiser shall be final, binding, and not subject to challenge or appeal.

1. 5. The winners of the Competition may be offered the opportunity to appear for a Pre-Placement Interview (PPI) with the Organiser, subject to the availability of suitable vacancies at the time of consideration. The provision of a PPI does not constitute a guarantee of employment or an offer of employment. Final hiring decisions will be made solely at the discretion of the Organiser, based on its standard recruitment processes and criteria.

3. Intellectual Property
   1. By submitting an entry to the Competition, you grant the Organiser right to review, analyse, test in laboratories, and/ or any other research to evaluate your Submissions. The Organiser may, at their sole discretion, display or publish your Submission on their Platform, websites, social media, events, newsletters, reports, and other media channels for promotional, editorial, educational, strategic, or informational purposes.

 

1. 2. You retain full ownership of any intellectual property rights in your submission. However, by entering the Competition, you expressly consent to the Organiser’s use of your Submission in the manner described hereinabove, without the requirement for additional approvals or compensation.

1. 3. The Organiser will not use your Submission for commercial purposes without obtaining prior written consent from you, which will be governed by a separate Agreement.

1. 4. In the event that your idea is selected for development, the Organiser shall fund the said idea by way of mentorship, tools, and such other resources as it may deem appropriate to support the development process. In consideration of the Organiser’s contribution and investment, all intellectual property arising from or developed in connection with the selected idea shall be jointly owned by you and the Organiser.

1. 5. You represent and warrant that your Submission is your original work, created solely by you and your Team, and does not infringe upon or violate the intellectual property rights, proprietary rights, or any other rights of third parties and does not breach any confidentiality obligation applicable to you. In the event your Submission is found to be plagiarized, fraudulent, or in violation of third-party rights, you will be immediately disqualified from the Competition, and the Organiser reserves the right to take any further legal or remedial action it deems necessary.

1. 6. You further agree and acknowledge that the Organiser has the right to use in any manner whatsoever, all communication or feedback provided by you on the Platform. The eligible winners must, at the request of the Organiser’s, participate in all promotional activities (such as publicity and photography) surrounding the winning of the Prize, free of charge, and they consent to the Organiser using their name, likeness and image in all promotional materials undertaken by the Organiser’s.

4. Confidentiality
   1. You must ensure that your Submissions do not contain any confidential, proprietary, or non-public information that you have obtained in a manner that violates any confidentiality agreements or legal obligations.

1. 2. You hereby accept that the Organizer shall not in any manner be responsible for any unintentional disclosure of confidential information that may occur during the course of the Competition. You agree to indemnify, defend, and hold harmless the Organiser, its affiliates, employees, and representatives from and against any claims, liabilities, damages, or expenses arising from such disclosure, including but not limited to legal fees and costs.

1. 3. All submissions received shall be treated as confidential by the Organiser. Accordingly, access to your Submissions will be restricted to authorized mentors, evaluators, and personnel directly involved in the assessment and development process. Similarly, you agree to maintain the confidentiality of any data, tools, materials, or feedback provided to you by the Organiser or its affiliates, and not to disclose such information to any third party without the Organiser’s prior written authorization.

1. 4. You agree to disclose to the Organiser:

1. any pre-existing intellectual property or prior work upon which your submission is based or incorporates, including but not limited to background intellectual property, proprietary tools, code, designs, or concepts (“Background IP”);

2. any third-party data, code, software, tools, libraries, assets, or other materials incorporated into or used in connection with your submission, including any applicable licenses or usage terms; and

3. any modifications, enhancements, derivative works, or improvements made to the submission, as well as any patent applications or other intellectual property filings related to the submission, occurring after the date of submission.

5. First Rights of Refusal: In the event that your idea is shortlisted or selected as a winner in the Competition:

1. The Organiser shall have the first right of refusal to enter into good-faith discussions with you regarding the licensing, acquisition, joint development, or other commercial arrangements related to your submission.

2. This right shall remain valid for a period of ninety (90) days from the date of the official announcement of the final results of the Competition.

3. During this exclusivity period, you shall not offer, sell, license, assign, or otherwise transfer any rights in or to your idea to any third party without the prior written consent of the Organiser.

4. If no agreement is reached within the 90-day period, you shall be free to commercialize or engage with third parties in respect of your idea without any further obligation to the Organiser.

5. In case your idea/ tech is patented or a subject matter of any IP registration, then the Organizer and the participants/ university/ college will enter into an assignment (transfer/ sale) agreement, under mutually agreed terms, including a lump sum consideration which will be equivalent to the BIC winner prize amount.

6. Indemnification: By participating in the competition, you hereby agree to indemnify, defend, and hold harmless the Organiser, from and against any and all claims, damages, liabilities, losses, costs, or expenses arising out of or in connection with your participation in the competition; any breach of these Terms and Conditions by you; any infringement or alleged infringement of any third-party intellectual property or proprietary rights caused by your submission or use thereof; and any misrepresentation or misconduct on your part during the competition. This indemnity shall survive the conclusion of the competition and any related agreements.

7. Waiver: Your participation in the Competition is voluntary and undertaken at your sole risk and shall be governed strictly by these Terms and Conditions. The Organiser shall not be liable for any loss or damage of any kind arising from or in connection with your participation in the Competition, including but not limited to loss of data or files, delays in evaluation, delays or changes in announcements, or the Organiser’s decision not to pursue or commercialize your idea. By participating, you expressly waive and release any and all claims, demands, or causes of action against the Organiser arising out of or relating to such matters.

8. Breach of Terms: Any breach of these Terms and Conditions will automatically void your participation in the Competition.