Rules Second Edition

By admin on 30.10.2009 // 6:53 pm in General

“ENTREPRENEURS SUPPORT PROGRAM BBVA OPEN TALENT” terms and conditions are the ones listed below.

“ENTREPRENEURS SUPPORT PROGRAM BBVA OPEN TALENT” is promoted by Banco Bilbao Vizcaya Argentaria SA (hereinafter BBVA) with CIF. number A-48265169, with registered offices at Paseo de la Castellana 81, Madrid and due to supporting projects or companies in early stages of development in the field of innovative projects or technology-based services that benefit the business and social environment, BBVA may eventually become business partner for the implementation of selected project (the “Program”).

1. Period of validity
From November the 1st, 2009 at 00:00 (Spanish time, GMT+01:00) to May 31st, 2010 at 24:00 pm (Spanish time, GMT+01:00), inclusive. BBVA can extend this period and would communicate it properly if it was decided to do so.

2. Area of activities
National and International.

3. Category
Support and development program.

4. Rights to participate
Any person and/or entity (hereinafter Entrepreneur and/or Participant) who is user of the web site www.bbvaopentalent.com and who is interested in getting support from an organization from BBVA Group, as defined below, as business partner in your project can take part as long as he do it on time and fulfilling the conditions laid down in these rules.
Each Participant may only use one account for such registration.
People under 18 years may not participate in the Program.
It will be appreciated that the Participant has a web site dedicated to the business or undertaking where concerned entity of BBVA Group, defined as below, can learn more details about it and from where people could vote in the initiative.

5. Supports value and nature
5.1 – The final Participant of the Program may be supported by BBVA and / or any of the BBVA Group entities as business partner in their project through the actions listed below. For the purposes of this Program the term “Group” will be used as the compound at any time of BBVA and its subsidiaries under the terms of Article 42 of the Spanish Commercial Code, and the term “Entity / s of the BBVA Group” will refer to both BBVA or any of those entities.
Such support may include:
1) Possible entry into the equity of the entity (already existing or is subsequently create the final participant selection) and/or possible collaboration in its broadest sense, with the final Participant, including, with exhaustive and non-restrictive character, the participation in the development of intellectual and/or industrial property rights, by providing, through one of the Entities of the BBVA Group, up to a maximum of one hundred thousand euros (€ 100,000) for each of the three (3) possible finalists Participants who have reached an agreement with the Entity of the BBVA Group, based on the needs and negotiations held between the Entity of the BBVA Group and the final Participant.
Each finalist Participant commits itself to negotiate with the Entity of the BBVA Group an agreement for its participation along with the final Participant in a joint venture (either in an entity of new constitution, or in an existing entity) and / or to hold a participation in it.
For that purpose, the final Participant shall provide the Entity of the BBVA Group with all necessary information and collaboration required by BBVA
And / or
2) Support for the initiative and / or the finalist Participant’s business plan by means of its diffusion through “BBVA Open Talent”.
The share of BBVA in the capital of the entity, referred above (section 1), depends on the following conditions:
a)that the Entity of the BBVA Group has made a legal, fiscal and countable audit of the entity in which is going to take a share, in case it already exists. The audit results must be satisfactory from the Entity of the BBVA Group’s point of view.
b)that the Entity of the BBVA Group and the finalist Participant reach an agreement about the contracts that may be requested to execute (including the ones that regulate the relationship between partners).
In case that within a sixty (60) day period, the conditions outlined in the preceding paragraph, had not been fulfilled to the satisfaction of BBVA, the Participant will only receive the support as set out in pint 2) above.
The support is limited as one per CIF (company tax code or tax id number), although BBVA may select more than one project to offer the same support described in the section 5.1 above.
5.2.- In addition to the support described in section 5.1 BBVA would also wants to reward the Participant more voted by the users of the website giving him the possibility to assist to an event about entrepreneurship in USA (in the place where the event will take place) for a five day period (approximately) and a return ticket by plane for two persons (one of them must be the Participant with more votes). The Participant more voted that accepts the reward will have to meet all the other expenses.

6. Program’s Mechanic
The objective of the Program is to support projects or companies in early stages in the field of product development or technology-based innovative services that benefit the business and social environment.
The first phase (from November 1st, 2009 to December 31st, 2009 inclusive) will begin accepting nominations which BBVA will then filter to select those initiatives that meet the bases of the Program and the purposes pursued by the BBVA Group within the Program. It will also be taken into account that candidates can demonstrate the project is in early stages and whose team offers a guarantee of execution of this project.
Nominations will be received until December 15th, 2009.
Nominations must be sent to http://www.bbvaopentalent.com before December 15th, 2009 completing the information that is asked for within the indicated Web.
Without prejudice to the information requested within the web www.bbvaopentalent.com projects submitted must be capable of being classified into one of the following categories:
1.- Internet/Mobile Payment solutions: projects that develop new capabilities and/or possibilities to improve or implement new models of means of payment over the Internet / mobile web format.
2.- SME Management Tools: tools or features that improve the management of small and medium enterprises (SMEs) in order to improve their productivity, efficiency and profitability.
3 .- Digital Business: projects in web format, covering all types of digital business focused on implementing new business models, to meet needs of specific targets or just as improved productivity or efficiency of traditional non-digital models.
4 .- Mobile Financial Applications: Projects related to development or improvement of financial applications Internet / mobiles for different technology platforms and in which new features or synergies with end user requirements are implemented.
5 .- Cloud computing: is to use the network as a basis for the use of computer technology.

The second phase (from January 1st, 2010 to February 15th, 2010) will start once the reception of nominations and the first filter have finished. In this stage users can vote the projects within the defined categories and the outcome will have a significant influence on the final selection BBVA will make.

Voting can be performed by any user (except the Participant) or through the web www.bbvaopentalent.com or through the widget that each Participant has installed on his own site.
Each user can only vote once. To guarantee the security of the votes and to avoid possible “frauds” votes will be monitored by IP. BBVA reserves the right to remove a vote if it detects irregularities in it.
The initiatives more voted will automatically pass to the final phase of the Program along with other projects selected by BBVA by their technological and innovation interest.
A maximum of twenty (20) finalist projects will be selected in this second phase, which will require to be described like viable by the Jury to gain that consideration.
BBVA will contact those Participants to gather more information on these initiatives and to learn directly from them details about their Project.
In the final phase a Jury from BBVA will select a maximum of three (3) projects from these twenty (20) finalists’ projects that may be recipients of support under this Program. The selection will be announced in a public event.
BBVA will select the project/s which, in his view, are considered more viable, ie the ones that present greater guarantees of performance from BBVA´s point of view.

7. Support
BBVA will publicly announce on the web site www.bbvaopentalent.com the projects selected as finalists and will also organize an event at BBVA’s Research Center to do so.

8. Personal data
The content of the ideas that are presented to the Program as well as all data, documentation and information of any kind provided, shall be confidential, secret and restricted and will be treated as such both by BBVA, by the Entities of the BBVA Group as by the members of the Jury.

The Participant authorizes the data obtained from their participation in the Program “BBVA Open Talent” to be incorporated into a file of Banco Bilbao Vizcaya Argentaria SA for the following purposes: to make the registration process, participation, evaluation of proposals and granting of support.

Likewise, the Participant authorizes that the information related in the previous paragraph can be used by BBVA, in addition to the above purposes, unless he expresses his opposition to these treatments, for sending, by any means, including mail or other equivalent means of electronic communication, any information on events related to the field of innovation. By no means shall be used for these purposes information from more than six (6) months old.

The authorization, if applicable, for treatment of related information in the paragraphs above may be revoked at any time by the Participant by notifying BBVA, but in regard to the purposes set out in the second paragraph of this section and since it is essential to program development, the revocation will automatically mean the Participants expulsion of the Program.

The responsible of the treatment is Banco Bilbao Vizcaya Argentaria, S.A residing at Plaza de San Nicolás 4, Bilbao, although the participant may freely exercise not only in that place, but in any branch of BBVA’s the rights of access, rectification, cancellation and opposition data.
The selected Participant consents to the use of his ideas and data for promotional and distribution of this Program by BBVA and Entities of the BBVA Group, including but not limited to publication on the website of BBVA, without that use conferring any right to any compensation.
The Participant is obliged to provide to BBVA all data required for the Program.
All work, including non-winners, will be destroyed after the jury’s decision. BBVA undertakes not to use the Works that have not been selected.

9. Notary Public
The conditions of the program have been stored for probate to the Notary Public Mr. Martel Manuel Diaz Llanos.

10. Modifications and discharge of responsibilities
If the Program could not thrive due to fraud, technical errors, or any other issue which is not under the control of BBVA, and affecting its normal development, BBVA reserves the right to cancel, modify, or suspend it.
BBVA reserves the right to modify the conditions and dates for the Program properly communicating them.
BBVA is not responsible for delays or other circumstances attributable to third parties that could affect participation or Program development.
BBVA reserves the right to cancel automatically to any Participant who fails, alter or disable the proper functioning and normal course and regulatory Program, to conduct improper practices to increase profitability, such as insider trading, tamper etc. .. or using any practice that might be considered contrary to the spirit of the Program.
BVA reserves the right to cancel the Participants that with their participation in the Program unduly affect rights of third parties.
BBVA excludes any liability for damages of any kind that may be due to temporary lack of availability or continued operation of the system by which you may be participating in the Program.
BBVA is not responsible for delays in postal and telecommunications networks in respect of records, sending data, among others.
BBVA is not responsible for possible mistakes in the data of the selected Participants or the impossibility to connect with them through no fault of BBVA.

11. Acceptance of the terms and conditions
Participation in this Program involves acceptance of the terms and conditions and expresses submission of the interpretative decisions that BBVA may make of them.

12. Contents
Each Participant authorizes BBVA to use their name and image in publicity materials related to the Program, including the Internet, without receiving any consideration.

The Participants shall ensure that the work and its contents provided voluntarily to BBVA (including individual abstracts or presentations) will not infringe rights of third parties or are duly authorized to participate in this Program, nor are offensive or demeaning, or incite violence, racism, or violate fundamental rights or civil liberties recognized by the applicable legislation and the protection of children and youth, nor imply or constitute an invasion of personal or family privacy of individuals or a violation of the honor of others or the confidentiality of communications or are contrary to existing regulations.

Participants will be responsible for violations that are caused or may be cause to the rights of others with the participation of the business or its contents in this Program and will have to compensate third parties affected and BBVA for the damages incurred due to the failure from the requirement described above.

13. Intellectual and industrial property copyrights
The copyright belongs to the creators of each work and its contents.
It is not allowed to use or distribute the work without the explicit consent of the author.
However, this consent is understood to be given to disclosure of those projects on the website of BBVA and / or Entities of the BBVA Group. The applications for those projects and / or source code will not be disclosure in any case.
Participants are responsible for the legality of software used, if it exists, in the submitted project.
The source code, if any, given to BBVA for the evaluation will not be used under any circumstances for other purposes than those proposed in this Program.
All Participants, including non-winners, commit themselves to send only original proposals and that the transfer referred to in the preceding paragraph, does not infringe third party rights of any nature or regulatory provisions and shall be free of liens, levies and rights.

Participants, therefore, remain intact at all times to BBVA to claims by third parties and shall be fully responsible for taking charge, any costs or charges that could lead to fines for third parties as a result of actions, claims or disputes arising from breach of obligations under these Rules.

14. Jurisdiction
In case of differences between participants in the Program and the interpretation of these rules by BBVA will have jurisdiction to hear disputes which may arise the Courts of Madrid, explicitly renouncing the Participants to their own jurisdiction, to be different from here agreed.

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