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Participation rules

SBER500 ACCELERATOR PARTICIPATION RULES
Section 1. General Provisions
These Rules of Participation in the Sber500 Accelerator (hereinafter referred to as the "Rules") regulate the relations between the Organizer and the Startup Projects for participation in the events under the Program (as these terms are defined in Section 2 of the Rules).

1.2. These Rules shall constitute an offer and define the material conditions of conducting the Program by the Organizer. By consenting to these Rules in the manner specified in paragraphs 5.1 - 5.6 of the Rules, the Startup Project accepts the offer and becomes a party to the agreement on participation in the Program. Only the Startup Project that meets the requirements set forth in Section 4 of the Rules can carry out such acceptance. The text of the Rules is published on the Internet at: https://sberbank-500.ru.

1.3. In accordance with Article 431.2 of the Civil Code of the Russian Federation, the Startup Project provides the following representations and warranties:

- actions specified in clause 5.1 of the Rules, as well as other actions to fulfill the terms of these Rules, including signing documents, shall be performed on behalf of the Startup Project by duly authorized persons;

- participation in the Program under the terms of these Rules does not violate the requirements of the regulatory acts of the Russian Federation, as well as the regulatory acts of the country where the Startup Project is established or the country where the Startup Project operates (if the Startup Project is a legal entity incorporated and/or operating in accordance with the laws of a foreign country), the constituent documents of the Startup Project and the conditions of the permits/approvals issued to the Startup Project;

- The Startup Project has obtained all necessary permits and approvals to participate in the Program in accordance with these Rules, including, but not limited to, permits of the management bodies of the Startup Project in accordance with the terms of the constituent documents;

- The Startup Project has complied with all necessary requirements in order to ensure the legality of receipt and transfer to the Organizer those personal data provided by the Startup Project to the Organizer in connection with participation in the Program.

The Organizer declares, and the Startup Project agrees, that the warranties and representations provided are material to the Organizer.

1.4. By each use of the Program Website, the Startup Project, represented by its authorized representative, agrees to the terms and conditions of the Rules, as in effect at the time of the actual use of the Program Website by the Startup Project.


Section 2. Definitions
"500 Startups" means 500 Startups Incubator, L.L.C, an international venture capital fund and accelerator with an extensive network of startup programs, which has its head office in San Francisco, California, USA;

"Bootcamp" means an online program from 500 Startups consisting of online courses and test assignments aimed at developing fundamental knowledge about startups, team and financial management, business growth points, and other business skills;

"General Partner" means the Fort Ross Ventures Seed Fund I, L.P. international venture fund;

"Demo Day" means a public event summing up the third Program stage that consists of a series of short appearances of the Participants with overviews of their Products and investment presentations developed as part of the Program;

"Investment Proposal" means an offer of financing that may be made by the General Partner to Participants during the Program;

"Organizer" means Sberbank of Russia (Sberbank), address: Russian Federation, 117312 Moscow, 19 Vavilova Street;

"Partners" mean companies engaged by the Organizer for additional expert assessment of Startup Projects and further work with them. The partners list is posted on the Website;

"Representatives" means representatives of the Startup Projects that meet the criteria specified in Section 4 of these Rules, defined by the Startup Project as persons directly participating in the activities envisaged by the Program;

"Product" means a program, solution, or service containing a unique technology, innovation or innovative approach that allow to satisfy customer needs efficiently;

"Website" means an Internet website , located at https://sberbank-500.ru. For the purposes of these Rules, the Website also means https://sberunity.ru, the address for submitting an application for participation in the Program as provided in Section 5 of the Rules;

"Program" means Sber500 – a program of the Organizer and 500 Startups on the organization of selection and training of participants - Startup Projects to develop the teams and their business projects in order to find synergies in carrying out pilot projects and organizing cooperation, as well as to attract investments, organize and hold other events under the Program, including holding a Demo Day, and activities aimed at informational support of the Program results;

"Startup Project" means a company (a legal entity) in an early development stage, established by individuals that share the common goal of Product development and commercialization, and are dependent on each other in terms of information, resources, and skills;

"Participant" means the Startup Project admitted to participation in Stage III of the Program.


Section 3. General information about the Program
3.1. The Program is carried out in 3 stages:

  • Stage I - Submission of applications and competitive selection;
  • Stage II - Bootcamp and competitive selection;
  • Stage III - In-person or online acceleration.

3.2. The location of the in-person events of the Program is the city of Moscow. Information about specific event addresses is posted on the Website.

3.3. The program will be delivered during the period of time indicated on the Website.

3.4. Participation in the Program is free. Startup projects admitted to Stage III may be given an Investment Proposal.

Section 4. Requirements for Startup Projects and their Representatives
4 4.1. Startup Projects are to develop their Product in the industries listed on the Website main page.

4.2. The Product must be in the MVP stage (minimum viable Product that allows business hypotheses to be tested on the first Startup Project clients) or at later stages of development and implementation.

4.3. The Startup Project must have had its first sales and customers.

4.4. The Startup Project must be a legal entity incorporated in the Russian Federation or in another jurisdiction where the Startup Project carries out its main activities.

4.5. The rights to all intellectual property associated with the Product must be owned by the Startup Project as a legal entity.

4.6. The Startup Project representatives that will participate in the Program events are to:

  • be those who play key roles in the Product development and/or commercialization and/or capable of legally determining the decisions made by the Startup Project; and
  • be ready to participate in all Program events; and
  • be proficient in colloquial English.

4.7. The Startup Project team must be comprised of professionals suitably experienced and qualified for continued Product development.

4.8. The Startup Project must be represented by 2 to 3 Representatives, unless otherwise agreed with the Organizer.

4.9. The Startup Project must be ready to accept investments from the General Partner as of the beginning of Stage III of the Program.


4.1. Startup Projects are to develop their Product in the industries listed on the Website main page.

4.2. The Product must be in the MVP stage (minimum viable Product that allows business hypotheses to be tested on the first Startup Project clients) or at later stages of development and implementation.

4.3. The Startup Project must have had its first sales and customers.

4.4. The Startup Project must be a legal entity incorporated in the Russian Federation or in another jurisdiction where the Startup Project carries out its main activities.

4.5. The rights to all intellectual property associated with the Product must be owned by the Startup Project as a legal entity.

4.6. The Startup Project representatives that will participate in the Program events are to:

be those who play key roles in the Product development and/or commercialization and/or capable of legally determining the decisions made by the Startup Project; and

be ready to participate in all Program events; and

be proficient in colloquial English.

4.7. The Startup Project team must be comprised of professionals suitably experienced and qualified for continued Product development.

4.8. The Startup Project must be represented by 2 to 3 Representatives, unless otherwise agreed with the Organizer.

4.9. The Startup Project must be ready to accept investments from the General Partner as of the beginning of Stage III of the Program.

Section 5. Submission of an application and competitive selection (Stage I)
5.1 In order to participate in the Program, the Startup Project shall submit an application by forming and sending through the Website a completed electronic questionnaire (according to the form of the Organizer) and the presentation attached to such questionnaire.

5.2 The questionnaire shall provide information on the Startup Project, the Startup Project team, the Product, previous professional experience of team members, investments received, as well as demonstrate an understanding of the market (niche) in which the Product is commercialized.

5.3 The presentation shall be attached to the questionnaire on the Website (in the recommended section).

5.4 The attached presentation must be in the PPTX and/or PDF format(s). The total size of the materials attached to the questionnaire should not exceed 20 MB.

5.5 The presentation shall not contain:

  • information constituting trade and other legally protected secrets of third parties;
  • any items that constitute third-party intellectual property;
  • any information and/or materials that violate the rights and interests of individuals and legal entities, the requirements of the Russian law, other applicable law or of public morals and ethics.

5.6 Receipt of the electronic questionnaire by the Organizer via the Website confirms the Startup Project's consent to these Rules and participation in the Program.

5.7 The selection consists of the screening (analysis) of questionnaires and the selection by the Organizer of the Startup Projects for participation in Stage II. To pass screening successfully, a questionnaire must meet the requirements set out in this Section of the Rules, and the Startup Projects proposed for participation in the Program and their Representatives must meet the requirements of Section 4 of these Rules.

5.8 As part of the selection, the Organizer may engage Partners in the consideration of the Startup Projects' applications.

5.9 Following the Selection, the Startup Projects that successfully passed this stage will have the opportunity to participate in Stage II.

5.10 The list of the Startup Projects that have passed the first stage of the Program shall be posted on the Website, or a personal notice shall be sent to each Startup Project that has passed the first stage individually.

5.11 Startup Projects that are not selected according to the results of Stage I of the Program shall lose the right to participate in further stages, the obligations of the Organizer in relation to the relevant Startup Project and the obligations of the Startup Project under these Rules shall be terminated.


Section 6. Online Bootcamp and competitive selection (Stage II)
6.1 Stage II shall be carried out on the dates indicated on the Website.

6.2 As part of Stage II, representatives of Startup Projects must take part in online lectures, perform all test assignments, according to the results of which Startup Projects shall be selected for participation in Stage III.

6.3 The selection shall be based on the Organizer's (jointly with the Partners) assessment of the results of the test assignments and the degree of participation in Stage II events.

6.4 Following the selection, the Startup Projects that successfully passed this stage will have the opportunity to participate in Stage III and will become Participants.

6.5 The list of Participants will be posted on the Website or a personal notice will be sent individually to each Participant.


Section 7. In-person or online acceleration (Stage III)
7.1. Stage III of the Program shall be carried out on the dates indicated on the Website.

7.2. Stage III will include online and/or live lectures, master classes, consultations, one-on-one meetings and other events in accordance with the schedule determined by the Organizer.

7.3. As part of Stage III, Participants will improve their Products with the involvement and help of experts, develop a marketing strategy of its market promotion and prepare an investment presentation of its Product for the Demo Day and do other things aimed at the Product development, in coordination with the experts.

7.4. To be admitted to participate in Stage III, the Participants must be prepared to:

  • accept investment from the General Partner; and
  • sign a confidentiality agreement with the Organizer; an
  • sign an agreement with the Organizer, defining the specifics of participation in Stage III of the Program (if offered).

7.5. A Participant may request from the Organizer the draft versions of the said documents in advance for examination purposes. Refusal or evasion of signature by the Participant shall be interpreted as a refusal of the Participant to further participate in the Program and shall result in termination of the obligations of the Organizer and of the Startup Project under these Rules from the date the Organizer receives the Startup Project's refusal to sign documents, or from the start date of Stage III specified on the Website, or, in case of evasion - from the date specified in the Organizer's notice of signing documents or on the Website (whichever of these dates occurs first). For the purposes of this paragraph of the Rules, the evasion of the Participant from signing the document shall mean that the Participant has not signed and has not provided the Organizer with a properly signed document within the time frame specified in the Organizer's notice of signature or within the time frame specified on the Website. No further notice by the Organizer shall be required for the purposes of termination of the obligations under these Rules.

7.6. Participant representatives must attend all in-person events and participate in online activities, including test assignments, in Stage III of the Program. In case of missing more than 20% of events, the Organizer has the right to exclude the Participant from the Program (unilaterally terminate the obligations under these Rules by sending the appropriate notice to the Participant).

7.7. The Organizer also has the right to exclude the Startup Project from the Program at any stage of the Program, provided that the Startup Project violates the obligations under these Rules, as well as under other agreements regulating the conditions of participation in the Program and arising from such participation, concluded with the Organizer or third parties.

7.8. Trackers (Entrepreneurs in Residence) representing 500 Startups are assigned to the Participants to oversee their work and provide business advice as part of the Program with a view to successfully complete the Program and improve their Products.

7.9. In the course of the Program, the Organizer may take photos and videos of various events with the participation of different persons (including Participants' representatives), as well as post such photo and video materials on the Website and other information sources, including in various advertisement and PR materials. In case of disagreement with the said placement of photo and video materials, the relevant persons (including Participants' Representatives) must not participate in the events at which the photo and video will be taken.

7.10. The Program Stage III will culminate in the Demo Day.

7.11. Mentorship, training and expert support within the Program framework will be provided in the Russian and English (predominantly) languages.

Section 8. Investment Proposal and Financing, Commercial Proposals
8.1. During Stage III or within 12 months after its completion, an Investment Proposal may be made to Participants at the discretion of the General Partner.

Specific financing terms provided for by the General Partner in the Investment Proposal shall be individual for each Participant selected by the General Partner. The final terms of financing shall be defined by agreement between the General Partner and the specific Participant.

8.2. In case of receipt of the General Partner's Investment Proposal, the Participants are obliged to consider it within 2 weeks of its receipt and to express their consent or refuse to accept it.

8.3. The Participants undertake to inform the Organizer and the General Partner of any investment proposals received from third parties within 18 months from the date of acceptance of these Rules and to provide the Organizer and/or the General Partner with the opportunity to join the proposed financing as a co-investor in the amount of not less than 30% of such financing (including, but not limited to, by negotiating and forming binding conditions with investors, taking into account simultaneous co-investment by the Organizer and/or the General Partner, inclusion of representatives of the Organizer and/or the General Partner in the negotiation process and the preparation of documents).

8.4. In the event that the obligations of the Organizer and of the Startup Project under these Rules are terminated for any reason stipulated by these Rules (before the provision of funding), the General Partner has the right to withdraw the Investment Proposal made previously or terminate the agreements for the provision of funding concluded under the Investment Proposal.

8.5. During the term of the Program and after its completion, the Organizer may propose to the Startup Project to conclude an agreement providing for the use of the Product by the Organizer or its affiliates, and the Startup Project undertakes to consider such proposal, making a reasoned decision based on the results of the proposal.

Section 9. Processing of personal data

9.1. The Organizer shall process personal data as part of the Program in accordance with Sber500 Personal Data Processing and Protection Policy.

9.2. The Startup Project represents and warrants to the Organizer that it has provided proper legal grounds for processing of personal data, other restricted information to which the Organizer gained access during the Program, notified the relevant data subjects about the processing of their personal data by the Organizer, in the manner and scope established by Part 3 of Article 18 of Federal Law dated July 27, 2006 No. 152-ФЗ (152-FZ) "On Personal Data", other applicable laws. At the request of the Organizer, the Startup Project undertakes to provide documentary evidence of the above within 3 business days from the date of receipt of the relevant request from the Organizer.

9.3. In the event that the Organizer receives demands, claims, lawsuits from third parties (in particular, data subjects) or authorized public authorities about the violation by the Organizer of the rights of a third party (parties) or the requirements of applicable law, which was committed by the Organizer as a result of the violation by the Startup Project of its representations and warranties specified in these Rules, the Startup Project undertakes to take all measures available to it in accordance with the law (as agreed with the Organizer) to settle disputes with such third parties and authorized public authorities under the pre-action protocol, and in case of objective impossibility of settlement under the pre-action protocol, including, to enter into litigation on the side of the Organizer and take all actions in its power to exclude the Organizer from the number of defendants in such litigation. If in the above case the Organizer is obliged to compensate losses, pay compensation to third parties related to the violation of their rights, is subject to a fine, the Startup Project undertakes to compensate the Organizer extrajudicially in full for losses, compensation, fines paid by the Organizer, as well as all related legal expenses of the Organizer.


Section 10. Informing, notifying and communicating

10.1. All communication, including sending legally significant messages within the meaning of Art. 165.1 of the Civil Code of the Russian Federation, of the Organizer with the Startup Projects shall be carried out according to the contact information specified in the questionnaires, unless otherwise expressly stated by the Startup Project in a written notice sent to the Organizer and signed by an authorized person of the Startup Project (hereinafter, the "address notice").

10.2. All information, documents, and other materials circulated by the Startup Project from the e-mail address indicated as the primary method of communication in the questionnaire or the address notice will be deemed to be officially provided by the Startup Project. All communications sent by the Organizer to the Startup Project to the email address, which was specified as the primary means of communication in the questionnaire or address notice, shall be considered as received by the Startup Project, with the obligations of the Organizer to inform the Startup Project being considered as duly fulfilled.

10.3. For information purposes, the Organizer may use the information contained in the Unified State Register of Legal Entities or official registers of foreign companies. The Organizer may additionally use other contact details provided by the Startup Project for reference purposes.

10.4. Information about changes in the time frames for submission and/or processing of applications, changes in the timing of the Program (all and each of its stages), information about changes to these Rules and other information intended for all Startup Projects shall be posted on the Website, and may be sent to Startup Projects in the manner prescribed by these Rules and the law from the start of Stage III.

10.5. The Organizer shall be informed (notified) by the Startup Projects by e-mail: help@sberbank-500.ru.

Section 11. Miscellaneous Rules

11.1. Information and materials (including items of intellectual property), including trademarks (service marks), logos, trade names, as well as photo and video materials taken during the Program, provided by the Startup Projects to the Organizer, may be used by the Organizer for the purposes of the Program, as well as posted by the Organizer on the Website, in advertising and PR materials, including for purposes of informing about the Program and its results, and also on a separate resource of the Organizer to form a single database of technological projects.

11.2. The Startup Projects will bear all their expenses associated with their participation in the Program. Unless otherwise expressly provided for in these Rules, the Organizer shall not compensate or reimburse the Startup Projects (including the Startup Projects with whom relations have been terminated for any of the reasons provided for in the Rules) for the expenses related to participation in the Program.

11.3. The Startup Project undertakes to provide additional information and documents regarding the Startup Project, its Representatives and members of the Startup Project team, if such information is necessary for the implementation of the Program, upon request of the Organizer.

11.4. The Startup Project undertakes to provide the Organizer with restricted information (in particular, information containing trade secrets, personal data), to ensure the legality of the use of such restricted information by the Organizer.

11.5. The Startup Project undertakes to provide the Organizer with accurate information necessary to participate in the Program and pass all of its stages, including in relation to itself, the Representatives, the Product, and other relevant information that is important for decision-making during the stages of the Program. In the case of providing the Organizer with legally protected information of third parties, the Startup Project undertakes to obtain all necessary consents/permissions from such third parties and to fulfill in full all other necessary requirements to ensure the lawful transfer of such information to the Organizer.

11.6. The Startup Project undertakes to select Representatives who meet the criteria set forth in these Rules, as well as to ensure their participation in the activities of the Program.

11.7. The Startup Project undertakes to ensure control and timely detection of the signs and diagnosis of a new coronavirus infection (COVID-19) among the Representatives and to prevent participation of the relevant Representatives in in-person events of the Program. The Organizer has the right to deny such Representatives admission to the in-person events of the Program if they have signs and diagnosis of new coronavirus infection (COVID-19) or if they violate other requirements for counteracting new coronavirus infection (COVID-19) established by Rospotrebnadzor and the Organizer. Such a denial does not constitute a breach of the Organizer's obligations.

11.8. The organizer may unilaterally change the terms of the Rules. These changes shall be published by the Organizer on the Website. In addition, the Organizer has the right to send notices of changes in the conditions of the Rules to each of the Startup Projects participating in the Program. Changes made by the Organizer to the Rules shall come into force from the moment of their publication on the Website.

11.9. The Organizer has the right to engage third parties at its discretion to carry out activities under the Program.

11.10. Under no circumstances shall the Organizer be liable to the Startup Project and/or to any third parties for any losses related to the fulfillment of the conditions specified in the Rules, participation in the Program (including, but not limited to, losses resulting from loss of goodwill, interruption of work, loss of data, technical failure, accident or malfunction of the Startup Project hardware (equipment) or any other damages, costs or losses, as well as lost profits or unjust enrichment). In addition to the above, any aggregate liability of the Organizer on any grounds under the Rules cannot exceed the actual documented damage of the Startup Project.

11.11. These Rules are drawn up and subject to interpretation in accordance with the law of the Russian Federation. In all other matters not provided for in these Rules, the parties shall be governed by the law of the Russian Federation.

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