PLAIN ENGLISH TERMS FOR DRIVE
The team at Drive has put together a condensed, plain English version of our Official Terms for your convenience. This is not a legally binding documents and you should refer to the Official Terms for further details.
Drive is a business accelerator programme from Belron and L Marks. Up to five companies will join the programme. Participants will be challenged to develop products and services that will shape the Belron customer or employee experience of the future.
Applications Open: 5th December 2017
Applications Close: 4th February 2018
Pitchers Announced: 23rd February 2018
Pitch Day: 12th March 2018 (provisional date)
Finalists announced: 19th March 2018
Accelerator Programme Commences: 30th April 2018
Demo Day: 10th July 2018
Accelerator Programme Ends: 20th July 2018
Except for those linked to the running of Drive, anyone can participate, no matter where you’re from. If you are planning to join us from abroad, visa restrictions may apply.
Each team must select a representative who is responsible for registering and applying to Drive.
Applications are open from 5th December 2017 to 4th February 2018.
Your product or service must fit into one of Belron’s innovation categories: Disrupt our ways of working using Artificial Intelligence, Transform the vehicle body damage market, Creating the easiest personalised experience for our customers who want a seamless journey, Make working life easier for our people, Surprise us. You must apply via the application form on the Drive website, and we’ll ask you questions about your founders, team, product and company. We’ll also ask you for a video introducing your team and product or service.
You can enter more than one application, but they must be substantially different from one another and must not violate anybody else’s intellectual property or other rights.
After an initial screening process, up to 25 teams will be invited to pitch to a panel. We plan that five teams will then be selected to join the accelerator. Participants will get desk space in the accelerator’s Egham (Surrey, UK) hub. There will be some events and workshops that you’ll be required to attend during the programme.
Participants will also have access to investment in exchange for equity in their business from Belron and L Marks.
PARTICIPATION SELECTION CRITERIA
At the pitch day, you’ll be judged against the quality of your team and concept, your competitive advantage, your product’s feasibility of delivery, relevance of your product to its Drive category, the potential impact of your business on Belron and the investment potential of your company.
The Official Terms ensure the smooth running of the accelerator. Complying with the Terms throughout the accelerator is mandatory and will allow you to get the most out of the programme.
For successful applicants there will be some additional legal documentation that you will need to sign before 30th April 2018 (first day of Drive), and you may be required to change the legal structure of your business.
WINNER SELECTION CRITERIA
In selecting a winner we will consider in particular: potential impact on Belron, quality of the team, progress and achievements during Drive, speed of integration and investment potential.
The winner is eligible to receive funding and potentially the opportunity to supply their product or services to Belron. There will be an Option Agreement which will grant an option for L Marks and Belron to invest up to £50,000 each, and terms will be discussed on a case-by-case basis. The contract and investment are both subject to negotiation.
We reserve the right to select more than one winner.
Except where we are expressly liable under the Official Terms, we can’t take responsibility for anything that might go wrong whilst you’re participating in the accelerator, and our liability is limited to £100.
We’ll take your agreement to the Official Terms as consent for us to use your name, company name, photograph, and business ideas etc. for promotional purposes. We’ll never use this stuff to portray you or your company in a negative light.
We’re not expecting this to happen, but should something beyond our control arise to undermine the accelerator, we may have to cancel the programme.
If a participant is found to be undermining the programme, tampering with it in any way or not complying with the Official Terms, we may disqualify them.
Applying to and participating in Drive does not give you any express or implied rights to use Belron’s intellectual property. All Belron rights are reserved.