Notification for All Contestants:
Neither entering Season 2, nor making the Starting 64, will put you under any obligation to stay in the starting 64. So you can have fun, show your stuff, and compete. You don't have to worry about the agreement below until you make the Starting 64.
HOWEVER, if/when your startup does make the Starting 64, we will notify you. Along with that notification, you will be given the option to pull out of the contest or remain in. Remaining in the the Season 2 contest from there forward will require that you agree to the following:
Agreement for Starting 64:
You are here to succeed. Things you need for that are: a) users b) connections c) money and d) feedback on everything from your product, your marketing, distribution, to legal issues you will face. Basically all the decisions you make during the course of a day can benefit from either the public's input on 'are you delivering something they want at the right price to make the most impact' to who is the right vendor for x.
Startupicon.tv has assembled the right people to help you obtain your goals. We now have marketing exposure to over 500,000,000 digital consumers world wide thanks to our partners ooVoo and BeInToo; Experts in marketing and brand management that have handled Billion dollar global brands; to the top Silicon Valley investors who have funded and guided many of the top digital companies in the world.
We have devised a system that is fair for all so startups are not out of pocket valuable cash they need to exist day to day and the experts are reward on the results they deliver to you. They become your mentors because they want to make you worth significantly more then when you where selected to the Starting 64. You succeed they succeed. This aligns everyone's goals and allows them to justify giving you the attention you need when their are thousands of other companies also wanting their time, advise, contacts and their investment.
We do this similar to traditional incubators only instead of taking 6 to 15%, we allow you to benefit for free in the quailifing period to gain exposure and users, then if you make the starting 64, we only request 2% of your equity in the form of warrants that are exercise able if you are successful. These are put into a pool for our judges to entice them to be your mentors and advocates. Next we give you that term sheet you have been dying to get with a top vc at a credible valuation. Only we make it where once they make you hot they have to act quick or they miss out on the best rate. Basically lets say we lock you in at $10 a share for 100,000 shares. We have all of our judges striving to make your worth $1000 a share during the event, once it looks like you are gaining traction then first come first serve until that 100,000 shares is gone. The rest of our accredited investors and others have to then pay the $1000 a share if they also want in while you are hot. Face it, you want them chasing you instead of you chasing them and the whole time you are gaining more users and notoriety making you more and more valuable until that big fish come along and buys you or you make it to that IPO.
THANKS, and Best of Luck!
--The Staff of Startup Icon