In these times of crisis for the Global Health Care industry, arising out of the Global Pandemic the COVID-19, Marico Innovation Foundation (“MIF”) has decided to initiate an innovation program, titled as “Innovate2Beat COVID”
Indian innovators including med-tech start-ups (“Innovators”) who are ready with low-cost, easy to use, commercially scalable prototypes/ready models of a) clinical ventilators and/or b) personal protective equipment, (“Categories”); whose invention can solve or help in solving the increasing need of such equipment in the Indian scenario, can participate. Selected innovators will get a) a platform to showcase their innovation in front of industry veterans (“Jury”) and b) an opportunity to receive certain grants, if they qualify as winners.
Each selected Innovator will have to present its innovation before MIF and the Jury. MIF shall under advise from the Jury scrutinize each of the selected Innovators and shall (in its sole discretion) decide and notify the winning Innovators (“Winners”). The number of Winners will be decided by MIF.
Each Winner will be awarded a sum of money (“Grants”) as determined by the Jury. This Grant amount, will be disbursed in-parts and upon successful achievement of milestones which will be decided by MIF, in its sole discretion and notified to each Winner. The sum of money awarded and the milestones of the project could be separate for each Winner and will be decided by the Jury and MIF, after considering the innovation’s utility, its readiness for scale up, and such other factors as MIF may deem fit. MIF also reserves a right to alter the Grant amount for any or all of the Winners. The grant shall not be released if the milestones are not achieved. The decision of MIF shall be final and binding on the Innovators.
The total consortium of Grants for the Program is Rs 2.5 Crore (subject to revisions), which have been committed by MIF- Rs. 1 Crore, A.T.E. Chandra Foundation- Rs. 1 Crore and Mr. Harsh Mariwala Rs- 50 Lakhs (each a “Donor”). MIF is also in talks with certain other organizations/persons, who may want to contribute under the Program. If any more grants are received, the total consortium will increase and allocated in such manner as MIF may deem fit.
The Jury will be notified on the website. The Jury may also provide good faith suggestions and assistance in commercial scale-up of the selected inventions.
Each Innovator is requested to follow the website for getting periodic updates on the Program, the Jury, the Donors and the Grants. MIF may also send periodic updates on email/sms/whatsapp/phone call for the participating Innovators.
By enrolling in the Program, each Innovator agrees to irrevocably abide by the below terms and conditions.
TERMS & CONDITIONS
Eligibility & Enrolment
An Indian citizen, group of Indian citizen, and/or any legal entity, including a not for profit organization, incorporated and operating lawfully in India may enrol as an innovator, provided they are not barred by any law, order or contract.
Innovators will have to fill in an application form available at www.maricoinnovationfoundation.org (“Website”), to enrol. The enrolment shall open by March 29, 2020 and shall remain open till April 10, 2020. Enrolment Form once submitted shall be considered as full and final and a true representation of the facts and data provided therein.
There is NO enrolment fees being charged by MIF for the Program and MIF has not appointed any agencies to solicit Innovators. MIF reserves a right to extend timelines or cancel any enrolment or disqualify an Innovator at any point in time as deemed necessary.
Each Innovator is expected to provide the information required in the Enrolment Form. MIF may request additional data from Innovators for evaluation, if required. The innovator must provide such additional data, failing which, the Innovator may be disqualified. The Innovator shall ensure that it has all the rights and licenses to provide the information.
The briefs received from the Innovator shall be shared by MIF with its affiliates, the Jury, external experts and the Knowledge Partners for evaluation. MIF may appoint any Knowledge Partner, expert or advisor as it may deem fit.
Selected Innovations shall be awarded an opportunity to present their Innovations before the Jury and MIF. The Innovator may be required to be present physically or virtually a presentation on the Innovation. The Jury may after consideration of an Innovation, provide certain good faith suggestions or amendments to the Innovator. The Innovators are expected to use their own commercial judgement and business acumen in applying any such suggestions. The selection of an Innovator for presenting the innovation before the Jury does not mean and shall not be construed to mean a commitment for grant or being selected as a winner.
Neither MIF nor the Jury members are required to consider innovations that have not been applied through the Enrolment Form; however MIF retains the final decision in this regard. Neither MIF, nor the Jury members nor the Donors and/or the Knowledge Partners or each of their representatives, for the purpose of the Program shall be liable for any damages, injury, claims or losses arising out of any opinions or advisory or from the participation in the Program or otherwise.
The selection and/or rejection of an Innovator shall be in the sole discretion of MIF after considering the recommendation of the Jury. The decision of MIF shall be construed as final and no objections or complaints towards the decision shall be entertained. Nothing contained herein guarantees and/or confers upon an Innovator the right to receive any award, offer, monetary benefit, certificate or recognition of any manner. MIF retains the right to disqualify any Innovator and/or Winner at any point in time at any stage.
The final winners will be notified via email/sms/whatsapp/phone call/website update.
Offers and Grants
Each of the Innovators, by submitting the Enrolment Form, agrees, and acknowledges the urgent need to commercially manufacture and supply the selected Inventions to a) the entities and people involved in the health care industry, in order to cater to the urgent and growing needs of such inventions for use in prevention and treatment of the COVID 19; and b) to common public and health workers including community workers and departments, for safeguarding them from transmission of the COVID 19.
The Innovators agree and undertake that if selected, the Innovator shall make commercially best efforts to manufacture and/or partner with third parties to manufacture its innovation at the earliest possible time but in no event later than fifteen days from the date of selection by the Jury. MIF may provide support in identifying the commercial manufacturers for the selected Innovation, however it shall be the sole responsibility of the Innovator to produce the goods, or negotiate and agree on the terms and conditions in a time bound manner with such third parties. The Innovators shall make all efforts to partner with multiple entities for scaling up the product and make efforts to supply the product at the most reasonable costs possible. It is also agreed by the Innovator that they shall provide as many licenses as commercially possible to their intellectual property, in order to enable immediately and large scale commercialization of the selected innovation in order to cover the growing need of the health care industry.
The winning Innovator shall receive the Grants as listed on the Website, subject to the successful achievement of the conditions laid down at the time of Grant being released. The Grant amounts and number of winners listed on the Website are indicative. The number of Grant awardees and Grant amount per winner shall be determined by MIF in its sole discretion and may be updated from time to time. The Grants will be released after the Winner certifies in writing the completion of a milestone applicable to it. Grants can be rejected during the Program if the Winner is unable to achieve the milestone and/or delays in doing so. Grants will not be granted to such innovators who are already receiving similar grants from other organization or offices or authorities.
The Grants shall be used only for the purpose of further innovation, development, clinical testing, approval, and scale up of the commercial manufacturing or any other purpose approved in writing by MIF. The winner shall maintain all records and documents detailing the utilization of the grant and shall provide MIF or its agents, as appointed for this purpose, with the utilization certificates for the same. MIF or its agents, as appointed for this purpose, retain a right to conduct periodic audits on the winning Innovators.
All payments will be subject to applicable taxes (if any). The innovators shall provide MIF with the relevant account details and other necessary documents for receiving the payments, if any.
MIF may choose to satisfy itself with respect to various aspects related to the commercial use of the product, including but not limited to, technical feasibility, commercial feasibility and potential for scale.
MIF may amend the grant amount for any selected Innovator who has earned a grant or competition for a similar purpose from any other organisation.
MIF is not acting as an agent of any of the Jury members. No member of the Jury is acting as an agent MIF. Any offer by a Jury member or any other third party including the manufacturers introduced by MIF to the Innovator shall be without any liability and/or commitment from MIF. Nothing contained herein or under any other document, creates or is intended to create a relation between the Innovator and MIF, the Jury, the Donors, the Knowledge Partners or any other party involved in the conduct of the Program (except in the manner as contemplated herein) and/or be construed as a commitment from MIF for any grants or commercial benefit. Each Innovator shall independently evaluate and enter into independent agreements with the manufacturers without consulting with MIF. Nothing herein shall be construed as an investment or a promise for investment, consultancy or other benefits or creating any relation between the Innovators and MIF or the Jury.
MIF retains a right to make any media publications (on any platform) and create media content (photos, videos, interviews etc) during or post the Program citing any Innovators and their business. The Innovator expressly assigns all intellectual properties in that content to MIF.
Each Innovator while submitting the Enrolment Form represents and warrants to the MIF and its partners, that a) all the information provided under the Enrolment Form is true and correct in all materials aspects; b) the Innovation has been created by the Innovator or his/her firm and he has/she has received the necessary consents, approvals and authorizations from its firm to present the Innovation in the Program; c) the Innovation does not and shall not breach the intellectual property rights of any third party; d) the Innovator or any member of its firm has not been involved or convicted under any criminal offence, breach of intellectual property or corruption charges; e) it has the necessary authorizations and licenses to run the business that the Innovator is involved in; f) it is operating in compliance with the applicable laws and e) the innovator has not participated in any other similar program or have received grants from any third parties.
MIF may open the challenge to more products or categories at a later point in time if it deems fit.
MIF, the Jury, the Donors, the Knowledge Partners and all other parties involved in the conduct of the Programs, shall not be liable for a) any damage, loss, injury or disappointment suffered by the Innovator; b) any indirect damages, loss or opportunity, loss of profit or any loss or damage that is not reasonably foreseeable or occurs under the Program; c) any injury or damage to any Innovator’s computer systems; d) arising from application of any advice received under the Program.
The Innovator hereby agrees to indemnify, defend and hold harmless, MIF, the Jury, the Donors, and each of the Knowledge Partners, sponsors, donors for this purpose, employees, agents or other representatives of MIF and all other third parties involved in the conduct of the program (“Indemnity Holders”) against any losses, claim, demands, costs, damages, judgments, expenses or liability in any form, arising out of or in connection with all claims, whether alleged or proved, that may be brought against the Indemnity Holders by any third party in connection with the Program. Each Innovator agrees to defend at its own cost and/or pay up-front the cost of such defence and indemnity, on request of MIF. MIF’s total liability under these Program arising or attributable to the Innovator or any third party claims, including indemnity obligations shall not be more than five thousand Indian rupees.
The benefits provided under this Program are personal to the Innovators and should not be assigned to any third party. The Innovators acknowledge that as a part of the Program, the Innovator may receive certain proprietary or confidential information of MIF, the Jury, the Knowledge Partners, experts, advisors or other Innovators, and agrees to keep such information confidential during the Program and thereafter and not to use such Information commercially.
Any term or condition mentioned herein, including but not restricted to the timelines,may be cancelled, modified, extended or withdrawn by MIF in its sole and absolute discretion and without assigning any reason.
These terms and conditions shall always be read, interpreted, or applied in accordance with the laws of India. Any disputes arising from the Terms and Conditions for participation shall be subject to the exclusive jurisdiction in the courts of Mumbai. Nothing herein shall be construed as a waiver by MIF or any of its rights available under the applicable law, contract or equity.