Terms & Conditions

Programme

Alpha Startups™ Digital Accelerator Programme (ASDA) is a 5-week acceleration programme organized by 1337 Ventures Sdn Bhd and its education arm, Leet Academy. The stages of the Programme are as follows:

1. Application Stage (“Stage 1”) where applicants sent in their application;

2. Selection Stage (“Stage 2”) where successful applicants are selected to participate in Stage 3 below;

3. Incubation Stage (“Stage 3”) where selected participants will undergo a 5-week Bootcamp;

4. Acceleration Stage (“Stage 4”) where the Accelerator may, at its sole discretion, provide an investment of up to RM50,000 to selected participants in return for equity in the company; and

5. Graduation Stage (“Stage 5”) where the top performing teams from the Programme will be featured and mentored further.

1337 Ventures Obligations

In order to help to the development of the start-up’s project and thereby facilitate its implementation and potential for success, 1337 undertakes to help the start-up during the duration of the ASDA programme with:

• Training;
• Office Hours with Coaches and Mentors;
• Organizing the onboarding journey, bootcamp and demo day
• Provide digital credits and digital infrastructure services
• Provide access to investors, corporate mentors, startups
• Any other activities deemed beneficial to the startups

Start-up Obligations

In pursuing the object of this agreement, the start-up agrees to:

• Participate and attend the ASDA programme with a minimum of 1 team member
• Participate in the activities proposed by ASDA in accordance with the schedule delivered
• Provide feedback at the end the programme
• Provide information about fundraising, business development for up to 3 years after the programme
• Authorize 1337 and its Affiliates to use the start-up’s name and trademarks in promotional materials related to the programme
• Agree to participate in the (i) only for lawful purposes and in conformity with any and all applicable laws and (ii) without knowingly violating any Intellectual Property Rights (including without limitation, copyright, trademark, patent, trade secret)., publicity, privacy, confidentiality, contractual or other right of any third party.

Definitions

• ASDA means Alpha Startups™ Digital Accelerator programme
• 1337 means 1337 Ventures Sdn Bhd
• You or ‘the applicant’ means the person or persons applying for the Accelerator programme
• You or ‘the participant’ means the person or persons who have been confirmed and accepted into the Accelerator programme

Introduction

1. By submitting your application, you agree to these terms and conditions.
2. Applications must comply with these terms and conditions to be valid and accepted.

Application Criteria

1. Individuals or teams must:

• • a) have at least one Malaysian co-founder, OR
  • b) be serving the Malaysian market or economy, AND
  • c) at least 18 years of age at time of application

Application Submission

1. Applicants must complete and submit the application form available on the website portal.
2. Applications that do not comply with these terms and conditions are invalid and will not be accepted.

Application Selection

1. An evaluation panel consisting of 1337 members (Evaluation Panel) will assess all applications against the evaluation criteria determined by 1337 in its sole discretion.
2. Shortlisted applicants will be emailed to confirm their participation.
3. Applicants must confirm their participation in the programme by the stated deadline.
4. 1337 will not disclose any details regarding the Evaluation Panel’s assessment of applications except where required to do so by law.

Programme Participation

1. Participants should be prepared to commit their time accordingly to the programme schedule.
2. Participants who wish to advance to Stage 4 must have at least one Malaysian cofounder at the time of advancement and agree to the issuance of equity to the Accelerator in exchange for funding.

Disqualification

1. 1337 reserves the right to disqualify any application that is:
   • deemed to contain information that is incorrect, misleading or fraudulent; or
   • defamatory, abusive, insulting, threatening, obscene, inflammatory, offensive or otherwise contain content which, in 1337’s opinion, is inappropriate or objectionable.

Intellectual Property

1. You will retain any intellectual property rights in your application.
2. You retain sole and exclusive ownership of Intellectual Property Rights acquired prior to the programme or that you may develop or acquire thereafter.
3. You grant 1337 a perpetual, irrevocable, world-wide, royalty and payment free, transferable, sub-licensable right to exercise all of the intellectual property rights in your application for the purpose of assessing your application and conducting the application process.
4. You warrant that you have the right to grant the licences described above and do not infringe the intellectual property rights of any other person.
5. You hereby indemnify 1337 against any third-party liabilities, claims, costs, expenses (including legal costs), loss or damage incurred by 1337 as a result of your breaching the above clauses.

Privacy

1. The information you provide in your application will be used by 1337 for the purpose of conducting the application process and may also be used for the purposes specified in 1337’s privacy policy. 
2. 1337 may disclose your personal information to companies and agencies connected with the Accelerator programme, for the purposes of carrying out the Accelerator programme.

Limitation Of Liability

1. Except for any liability that cannot be excluded by law, 1337 (including its officers, employees and agents) will not be liable for any loss or damage whatsoever that is suffered or sustained (including but not limited to indirect or consequential loss) or for any death, illness, personal injury or property damage suffered or sustained (even caused by negligence), as a result of, or in any way connected with, this application process.
2. To the extent permitted by law, you agree to release, fully indemnify and keep fully indemnified, 1337 (including its officers, employees and agents) from and against all liability, cost, loss, damage, expense, claim or other right of action arising out of, or in connection with, the application process.
3. 1337 accept no responsibility for any problems or technical malfunction of any communication network or for any late, lost, incomplete, incorrectly submitted, delayed, illegible, corrupted or misdirected applications, claims or correspondence whether due to error, omission, alteration, tampering, deletion, theft, destruction, transmission interruption, communications failure or otherwise. 1337 has no control over telephone communications, networks or lines and accepts no responsibility for any problems associated with them, whether due to traffic congestion, technical malfunction or otherwise.

Miscellaneous

1. You are responsible for obtaining your own independent legal and financial advice regarding these terms and conditions.
2. All times listed in these terms and conditions are in Malaysian Timing (GMT +8).
3. 1337 reserves the right to amend these conditions at any time. If any changes are made, 1337 will notify the public via its website.
4. These terms and conditions will be construed according to the laws of Malaysia and applicants submit to the exclusive jurisdiction of the courts of that State.
5. Including” is not a word of limitation.
6. A reference to a person includes an individual, a firm, a body corporate, a partnership and an unincorporated association.
7. Failure by 1337 to enforce any of its rights at any stage does not constitute a waiver of those rights.
8. If a word or phrase is given a defined meaning, any other part of speech or grammatical form of that word or phrase has a corresponding meaning.
9. A word importing the singular includes the plural (and vice versa).
10. If any of these terms are held to be invalid, unenforceable or illegal for any reason, the remaining terms shall nevertheless continue in full force.
11. Nothing in these terms and conditions is to be interpreted against 1337 solely on the grounds that 1337 put forward these terms and conditions or any part of them.