Potential Adopters mean any individuals or organisations who are interested to work with the shortlisted participants (“Teams”) to develop their ideas further for test-bedding or implementation. Their role includes but is not limited to mentorship, sponsorship, product trial, product development and providing other resources or expertise to help the Teams.
All attendees at the Cool Ideas Pitch ("Pitch"), including participants and Potential Adopters, are required to keep confidential all information which relates to the ideas presented at the Pitch and all information relating to the Teams, the Potential Adopters and HDB. No photography or audio or video recordings are allowed where the ideas are showcased and at venue of the Pitch, whether before, during or after the presentations by the Teams.
At the Pitch, Potential Adopters are required to indicate their interest on the ideas they are interested to adopt and their roles in helping the Teams.
The Teams will have the right to choose the adopters to work with (“Adopters”) and their decisions are final.
The Teams and Adopters are required to put together an action plan with the following information:
Goal (describe if the goal is for test-bedding or implementation or commercialisation.)
Description of action to be taken
Desired outcome of action
Timeline (start and end date for each action taken)
Roles of parties involved
A template of the action plan can also be downloaded here (.docx, 16KB).
The action plan will be assessed based on the completeness of the submission. Once the plan is deemed as completed, the Teams will be notified by HDB. The prize money of $5,000 will be given to the Teams within 30 days of notification. Each Team shall nominate a member to whom the prize money is to be paid (“Nominated Member”) and HDB will make payment by cheque in the name of the Nominated Member. The Nominated Member shall be responsible for distributing the prize money amongst the other members of the team and these other members shall have no claim against HDB for their share of the prize money.
In the event that it is found that information provided by the Teams is inaccurate, HDB reserves the right to recover the prize money from the Teams. All decisions made by HDB in this respect is final.