PropTech Challenge Official Rules
PropTech Challenge presented by REBNY Official Rules – (the “Official Rules”)
NO PURCHASE OR PAYMENT NECESSARY. A PURCHASE OR PAYMENT OF ANY KIND WILL NOT INCREASE YOUR CHANCES OF WINNING.
1. POSTER & ADMINISTRATOR
Poster (the “Poster”):
Real Estate Board of New York (“REBNY”), 570 Lexington Ave, 2nd Floor, New York, NY 10022 USA.
The Poster is the sponsor and entity responsible for the PropTech Challenge.
Administrator (the “Administrator”): (the “Poster”): Real Estate Board of New York (“REBNY”), 570 Lexington Ave, 2nd Floor, New York, NY 10022 USA..
2. DATES AND TIMING
PropTech Challenge Submission Period: 08/30/2023 (10:00am) – 10/20/2023 (5:00pm) (the “PropTech Challenge Submission Period”)
Judging Period to select Finalists: 10/21/2023 (10:00am) – 11/12/2023 (5:00pm) (the “Judging Period”)
Demo Day: November 28, 2023 (Time to be determined)
All times are reflected in Eastern USA Time Zone. The Administrator will be the official timekeeper for the PropTech Challenge. The Administrator can revise the PropTech Challenge Dates and Things as reflected in this section at its sole discretion, via updating the PropTech Challenge Office Rules contained on the PropTech Challenge website, without notice. All dates and time are subject to change at the Administrator's sole discretion
A. The PropTech Challenge IS open to:
Individuals who are at least the age of majority where they reside as of the time of entry (“Eligible Individuals”)
Teams of Eligible Individuals (“Teams”)
Organizations (including corporations, not-for-profit corporations and other nonprofit organizations, limited liability companies, partnerships, and other legal entities) that exist and have been organized or incorporated at the time of entry.
(the above are collectively, “Makers”)
An Eligible Individual may join more than one Team or Organization and an Eligible Individual who is part of a Team or Organization may also enter the PropTech Challenge on an individual basis.
If a Team or Organization is entering the PropTech Challenge, they must appoint and authorize one individual (the “Representative”) to represent, act, and enter a Submission, on their behalf. The Representative must meet the eligibility requirements above. By entering a Submission on the Site on behalf of a Team or Organization you represent and warrant that you are the Representative authorized to act on behalf of your Team or Organization.
B. The PropTech Challenge IS NOT open to:
Individuals who are residents of, or Organizations domiciled in, a country, state, province or territory where the laws of the United States or local law prohibits participating or receiving a prize in the PropTech Challenge (including, but not limited to, Brazil, Russia, Cuba, Sudan, Iran, North Korea, Syria and any other country designated by the United States Treasury's Office of Foreign Assets Control)
Organizations involved with the design, production, paid promotion, execution, or distribution of the PropTech Challenge, including the Poster and Administrator (“Promotion Entities”)
Employees of such organizations
Any Judge, or the firm for which the Judge is employed by
Any other individual or organization whose participation in the PropTech Challenge would create, in the sole discretion of the Poster and/or Administrator, a real or apparent conflict of interest
4. SUBMISSION REQUIREMENTS
A. How to Enter
Makers must do the following to participate in the PropTech Challenge:
Register for the PropTech Challenge on the PropTech Challenge Website by clicking the “PropTech Challenge Submission Form” button.
Create or update functioning software that solves a problem for real estate owners, managers, and developers in one of the respective categories as detail on the PropTech Challenge website at https://www.proptechchallenge.com/challenge-details
Create a video that includes footage that clearly explains your Application’s features and functionality through a comprehensive demonstration.
Complete and enter all of the required fields on the Registration page designed for the PropTech Challenge Website (each a “Submission”) during the PropTech Challenge Submission Period, and follow the requirements below.
B. Language Requirements
All Submission materials must be in English or, if not in English, the Maker must provide an English translation of the demonstration video, text description, and testing instructions as well as all other materials submitted.
C. Application Requirements
(i) What to Create: Have an existing software or solution that is ready for use and deployment that solves one of the problem sets detailed in the current challenge. Full challenge category details can be found on the PropTech Challenge website at https://www.proptechchallenge.com/challenge-details
(ii) Functionality: An Application must be capable of being successfully installed and running consistently on the platform for which it is intended and must function as depicted in the video and/or expressed in the text description.
(iii) Platforms: A submitted Application must run on at least one of the following:
a smartphone or tablet (iOS, Android, or Windows Mobile)
a web browser (mobile or desktop)
a desktop computer (Windows PC, Mac Desktop)
other hardware (including, but not limited to, wearable technology, open source hardware, or proprietary hardware)
(iv) New and Existing: Applications must be either newly created by the Maker or, the Application existed prior to the PropTech Challenge Submission Period.
(vi) Testing: The Maker is strongly urged to make the Application available free of charge and without any restriction, for testing, evaluation and use by the Poster, Administrator and judges during the PropTech Challenge and until the Judging Period ends.
If the Application includes software that runs on proprietary or third party hardware that is not widely available to the public, including software running on devices or wearable technology other than smartphones, tablets, or desktop computers, the Sponsor and/or Administrator reserve the right, at their sole discretion, to require the Maker to provide physical access to the Application hardware upon request.
Provide a way to access your project for judging and testing, including a link to your repo hosting the application’s code, your ARM template (if applicable), and any other deployment files and testing instructions needed for testing your project. (The Github or BitBucket code repository may be public or private. If the repository is private, share access with firstname.lastname@example.org).
(vii) Public Distribution: The Maker may make the Application available to the public via a website or online store, but is not required to do so prior to the end of the PropTech Challenge Submission Period.
(viii) SDKs, APIs, & Data: Applications may integrate SDKs, APIs and data, provided the Maker is authorized to use them and granted such authority and/or permission by the appropriate party or parties.
(ix) Multiple Submissions: A Maker may submit more than one Submission, however, each Submission must be unique and substantially different from each of the Maker’s other Submissions, as determined by the Poster and/or the Administrator.
(xi) Financial or Preferential Support: An Application must not have been developed, or derived from an Application developed, with financial or preferential support from the Poster or Administrator. Such Applications include, but are not limited to, those that received funding or investment for their development, were developed under contract, or received a commercial license, from the Poster or Administrator any time prior to the end of PropTech Challenge Submission Period. The Poster, at their sole discretion, may disqualify an Application, if awarding a prize to the Application would create a real or apparent conflict of interest.
D. Text Description, Image, and Video Requirements
(i) Text Description: The text description should explain the features and functionality of your Application and describe how the Application could help solve a problem for real estate professionals.
(ii) Images: The image(s) should be photographs or screenshots of your working Application.
(iii) Video: The video portion of the Submission:
a) should be less than five (5) minutes;
b) must include footage that clearly explains the Application’s features and functionality through a comprehensive demonstration;
c) should describe how the Application could help users increase their productivity;
d) must be uploaded to YouTube, Vimeo, or Youku, and a link to the video must be provided on the submission form on the PropTech Challenge Website; and
e) must not include third party trademarks, or copyrighted music or other material unless the Maker has permission to use such material.
E. Submission Modifications
A. Draft Submissions: Prior to the end of the PropTech Challenge Submission Period, you must save a version of your Submission using the link provided on the Challenge Details page submitting the Submission materials to the PropTech Challenge for evaluation. Once the Submission Period has ended, you may not make any changes or alterations to your Submission.
B. Modifications After the PropTech Challenge Submission Period. The Poster may permit you to modify part of your Submission after the PropTech Challenge Submission Period for the purpose of removing material that potentially infringes a third party mark or right, discloses personally identifiable information, or is otherwise inappropriate. The modified Submission must remain substantively the same as the original Submission with the only modification being what the Poster permits.
5. SUBMISSION RIGHTS
A. Maker Rights: Subject to the licenses described below, any applicable intellectual property rights to a Submission will remain with the Maker.
B. Poster Rights: By entering the PropTech Challenge, you grant to the Poster, Administrator, and any other third parties acting on the Poster’s behalf, a royalty-free, non-exclusive, worldwide perpetual license to display publicly and use for promotional purposes the Submission, in perpetuity. This license includes, but is not limited to, posting or linking to the Submission and Submission Video on Poster’s, Administrator’s, and partners’ websites and applications, including the PropTech Challenge Website, and display and promotion of the Submission in any other media, worldwide.
C. Submission Display: The following Submission components may be displayed to the public: name, description, images, video URL, website, URL, team members, the Submission category and platform, and submitter type. Other Submission materials may be viewed by the Poster, Administrator, and Judges for screening and evaluation.
D. Makers represent and warrant that the Poster, Administrator, and PropTech Challenge partners are free to use Makers’ Submission in the manner described above, as provided or as modified by the Administrator, without obtaining permission or license from any third party and without any compensation to Makers.
A. Judges: Eligible Submissions will be evaluated by a panel of judges selected by the Poster (the “Judges”). Judges may be employees of the Poster or external, may or may not be listed individually on the PropTech Challenge Website, and may change before or during the Judging Period. Judging may take place in one or more rounds with one or more panels of Judges, at the discretion of the Poster.
B. Criteria: The Judges will score eligible Submissions using the following equally weighted criteria (the “Judging Criteria”):
(i) Value to Industry / Solves Existing Problems
(ii) Benefit to Achieve Challenge Objectives
(iii) Innovation / Creativity / Originality
(iv) Practical Implementation of the Idea
(iii) Quality of the Submission Materials
The Judging Criteria above may not apply to every Problem Set, Category, or Prize. See Section 7 below for the Judging Criteria that apply for each Prize. The Maker(s) that are eligible for a Prize, and whose Submissions earn the highest overall scores based on the applicable Judging Criteria, will become potential winners of that Prize.
C. Submission Review: Judges are not required to test the Application and may choose to judge Applications based solely on the text description, images and video provided in the Submission.
D. Tie Breaker: For each Prize listed in Section 7 below, if two or more Submissions are tied, the tied Submission with the highest score in the first applicable criterion listed above will be considered the higher scoring Submission. In the event any ties remain, this process will be repeated, as needed, by comparing the tied Submissions’ scores on the next applicable criterion. If two or more Submissions are tied on all applicable criteria, the panel of Judges will vote on the tied Submissions.
Cash prizes and criteria for awarding cash prizes associated to a specific Problem Set or Challenge will be posted on the PropTech Challenge website. The core set of criteria are listed in Section 6.B above. If the Challenge failed to receive the respective number of submissions associated with prizes stated for a Problem Set or Challenge, the Poster is not required to distribute unused or unawarded prize awards. Furthermore, at the Sponsor’s sole discretion, if a submission does not meet the respective Challenge Problem Set or Category Submission Requirements , Sponsor may choose not to invite the submission to the Demo Day event.
8. VERIFICATION OF POTENTIAL WINNERS
A. Verification Requirement: THE AWARD OF A PRIZE TO A POTENTIAL WINNER IS SUBJECT TO VERIFICATION OF THE IDENTITY, QUALIFICATIONS AND ROLE OF THE POTENTIAL WINNER IN THE CREATION OF THE SUBMISSION. The final decision to designate a winner shall be made by the Poster and/or Administrator.
B. Required Forms: Potential winners will be notified using the email address used to enter the Submission (the submitter is the “Representative” in the case of a Team or Organization). In order to receive a Prize, the potential winner (including all participating team members in the case of a Team or Organization) will be required to sign and return to the Poster or Administrator, affidavit(s) of eligibility (or a similar verification document) and liability/publicity release(s), and any applicable tax forms (“Required Forms”).
Deadline for Returning Required Forms: ten (10) business days after the Required Forms are sent.
Disqualification: The Poster and/or Administrator may deem a potential winner (or participating team members) ineligible to win if:
(i) the potential winner’s Representative or any participating member does not respond to multiple emails or fails to sign and return the Required Forms by the deadline listed above, or responds and rejects the Prize;
(ii) the Prize or Prize notification is returned as undeliverable; or
(iii) the Submission or the potential winner, or any member of a potential winner’s Team or Organization, is disqualified for any other reason.
In the event of a disqualification, the Poster and/or Administrator may award the applicable Prize to an alternate potential winner.
9. PRIZE DISTRIBUTION
A. Substitutions & Changes: The Poster has the right to make a Prize substitution of equivalent or greater value. The Poster will not award a Prize if there are no eligible Submissions entered in the PropTech Challenge, or if there are no eligible Makers or Submissions for a specific Prize.
B. Prize Delivery: Prizes will be payable to the Maker, if an individual, to the Maker’s Representative, if a Team or Organization, if the Maker is an Organization. It will be the responsibility of the winning Maker’s Representative to allocate the Prize among their Team or Organization’s participating members, as the Representative deems appropriate. A monetary Prize will be mailed to the winning Maker’s address (if an individual) or the Representative’s address (if a Team or Organization), or wired to the Maker, Maker Representative, or Organization’s bank account, only after receipt of the Required Forms.
Failure to provide correct information on the Required Forms, or other correct information required for the delivery of a Prize, may result in delayed Prize delivery, disqualification or the Maker, or forfeiture of a Prize.
C. Prize Delivery Timeframe: Within 45 days of the Poster or Administrator’s receipt of the Required Forms
D. Fees & Taxes: Winners (and in the case of Team or Organization, all participating members) are responsible for any fees associated with receiving or using a prize, including but not limited to, wiring fees. Winners (and in the case of Team or Organization, all participating members) are responsible for reporting and paying all applicable taxes in their jurisdiction of residence (federal, state/provincial/territorial and local). Winners may be required to provide certain information to facilitate receipt of the award, including completing and submitting any tax or other forms necessary for compliance with applicable withholding and reporting requirements. United States residents are required to provide a completed form W-9 and residents of other countries are required to provide a completed W-8BEN form. Winners are also responsible for complying with foreign exchange and banking regulations in their respective jurisdictions and reporting the receipt of the Prize to relevant government departments/agencies, if necessary. The Poster, Administrator, and/or Prize provider reserve the right to withhold a portion of the prize amount to comply with the tax laws of the United States or other Poster jurisdiction, or those of a winner’s jurisdiction.
10. ENTRY CONDITIONS AND RELEASE
A By entering the PropTech Challenge, you (and, if you are entering on behalf of a Team or Organization each participating members) agree(s) to the following:
(i) The relationship between you, the Maker, and the Poster and Administrator, is not a confidential, fiduciary, or other special relationship.
(ii) You will be bound by and comply with these Official Rules and the decisions of the Poster, Administrator, and/or the PropTech Challenge Judges which are binding and final in all matters relating to the PropTech Challenge.
(iii) You release, indemnify, defend and hold harmless the Poster, Administrator, Promotion Entities, and their respective parent, subsidiary, and affiliated companies, the Prize suppliers and any other organizations responsible for sponsoring, fulfilling, administering, advertising or promoting the PropTech Challenge, and all of their respective past and present officers, directors, employees, agents and representatives (hereafter the “Released Parties”) from and against any and all claims, expenses, and liabilities (including reasonable attorneys’ fees), including but not limited to negligence and damages of any kind to persons and property, defamation, slander, libel, violation of right of publicity, infringement of trademark, copyright or other intellectual property rights, property damage, or death or personal injury arising out of or relating to a Maker’s entry, creation of Submission or entry of a Submission, participation in the PropTech Challenge, acceptance or use or misuse of the Prize (including any travel or activity related thereto) and/or the broadcast, transmission, performance, exploitation or use of the Submission as authorized or licensed by these Official Rules.
B. Without limiting the foregoing, the Released Parties shall have no liability in connection with:
(i) any incorrect or inaccurate information, whether caused by the Poster or Administrator’s electronic or printing error, or by any of the equipment or programming associated with or utilized in the PropTech Challenge;
(ii) technical failures of any kind, including, but not limited to malfunctions, interruptions, or disconnections in phone lines, internet connectivity or electronic transmission errors, or network hardware or software or failure of the PropTech Challenge Website;
(iii) unauthorized human intervention in any part of the entry process or the PropTech Challenge;
(iv) technical or human error which may occur in the administration of the PropTech Challenge or the processing of Submissions; or
(v) any injury or damage to persons or property which may be caused, directly or indirectly, in whole or in part, from the Maker’s participation in the PropTech Challenge or receipt or use or misuse of any Prize.
The Released Parties are not responsible for incomplete, late, misdirected, damaged, lost, illegible, or incomprehensible Submissions or for address or email address changes of the Makers. Proof of sending or submitting will not be deemed to be proof of receipt by the Poster or Administrator.
If for any reason any Maker’s Submission is determined to have not been received or been erroneously deleted, lost, or otherwise destroyed or corrupted, the Maker’s sole remedy is to request the opportunity to resubmit its Submission. Such request must be made promptly after the Maker knows or should have known there was a problem, and will be determined at the sole discretion of the Poster.
By participating in the PropTech Challenge you consent to the use of personal information about you, if you are a finalist or selected to participate in the PropTech Challenge Demo Day, by the Poster, Administrator, Sponsors, and third parties acting on their behalf. Such personal information includes, but is not limited to, your name, biographical information, likeness, photograph, voice, opinions, comments, and hometown and country of residence. It may be used in any existing or newly created media, advertising, promotional purposes, including without limitation, inclusion in Sponsors’ newsletters, Sponsors’ website, and any of the Sponsors related social media accounts or outlets worldwide without further payment or consideration or right of review, unless prohibited by law.
The duration of your consent is for a period of ten years following the conclusion of the PropTech Challenge. This consent applies, as applicable, to all members a Maker’s Team, or Organization that participated in the winning Submission.
12. GENERAL CONDITIONS
A. Poster and Administrator reserve the right, in their sole discretion, to cancel, suspend and/or modify the PropTech Challenge, or any part of it, in the event of a technical failure, fraud, or any other factor or event that was not anticipated or is not within their control.
B. Poster and Administrator reserve the right in their sole discretion to disqualify any individual or Maker it finds to be actually or presenting the appearance of tampering with the entry process or the operation of the PropTech Challenge or to be acting in violation of these Official Rules or in a manner that is inappropriate, unsportsmanlike, not in the best interests of this PropTech Challenge, or a violation of any applicable law or regulation.
C. Any attempt by any person to undermine the proper conduct of the PropTech Challenge may be a violation of criminal and civil law. Should Poster or Administrator suspect that such an attempt has been made or is threatened, they reserve the right to take appropriate action including but not limited to requiring a Maker to cooperate with an investigation and referral to criminal and civil law enforcement authorities.
D. If there is any discrepancy or inconsistency between the terms and conditions of the Official Rules and disclosures or other statements contained in any PropTech Challenge materials, including but not limited to the PropTech Challenge Submission form, PropTech Challenge Website, advertising (including but not limited to television, print, radio or online ads), the terms and conditions of the Official Rules shall prevail.
E. The terms and conditions of the Official Rules are subject to change at any time, including the rights or obligations of the Maker, the Poster and the Administrator. The Poster and Administrator will post the terms and conditions of the amended Official Rules on the PropTech Challenge Website. To the fullest extent permitted by law, any amendment will become effective at the time specified in the posting of the amended Official Rules or, if no time is specified, the time of posting.
F. If at any time prior to the deadline, a Maker or prospective Maker believes that any Official Rule is or may be unclear or ambiguous, they must submit a written request for clarification. Should a conflict exist between the Official Rules and any digital or print marketing, the Administrator, in their sole discretion, will determine which statement or terms supersedes.
G. The Poster or Administrator’s failure to enforce any term of these Official Rules shall not constitute a waiver of that provision. Should any provision of these Official Rules be or become illegal or unenforceable in any jurisdiction whose laws or regulations may apply to a Maker, such illegality or unenforceability shall leave the remainder of these Official Rules, including the Rule affected, to the fullest extent permitted by law, unaffected and valid. The illegal or unenforceable provision shall be replaced by a valid and enforceable provision that comes closest and best reflects the Poster’s intention in a legal and enforceable manner with respect to the invalid or unenforceable provision.
H. Excluding Submissions, all intellectual property related to this PropTech Challenge, including but not limited to copyrighted material, trademarks, trade-names, logos, designs, promotional materials, web pages, source codes, drawings, illustrations, slogans and representations are owned or used under license by the Poster and/or Administrator. All rights are reserved. Unauthorized copying or use of any copyrighted material or intellectual property without the express written consent of its owners is strictly prohibited. Any use in a Submission of Poster or Administrator intellectual property shall be solely to the extent provided for in these Official Rules.
13. LIMITATIONS OF LIABILITY
By entering, all Makers (including, in the case of a Team or Organization, all participating members) agree to be bound by the Official Rules and hereby release the Released Parties from any and all liability in connection with the Prizes or Maker’s participation in the PropTech Challenge. Provided, however, that any liability limitation regarding gross negligence or intentional acts, or events of death or body injury shall not be applicable in jurisdictions where such limitation is not legal.
A. Makers agree that, to the fullest extent permitted by law:
(i) any and all disputes, claims and causes of action arising out of or connected with this PropTech Challenge, or any Prizes awarded, other than those concerning the administration of the PropTech Challenge or the determination of winners, shall be resolved individually, without resort to any form of class action;
(ii) any and all disputes, claims and causes of action arising out of or connected with this PropTech Challenge or any Prizes awarded, shall be resolved exclusively by the United States District Court of New York State or the appropriate New York State Court and Makers consent to the exclusive jurisdiction and venue of such courts; and
(iii) under no circumstances will Makers be entitled to, and Makers hereby waives all rights to claim, any punitive, incidental and consequential damages and any and all rights to have damages multiplied or otherwise increased.
SOME JURISDICTIONS DO NOT ALLOW THE LIMITATIONS OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE MAY NOT APPLY TO YOU.
B. All issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of the Makers and the Poster in connection with the PropTech Challenge, shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to any choice of law or conflict of law rules (whether of the State of New York or any other jurisdiction), which would cause the application of the laws of any jurisdiction other than the State of New York.
15. ADDITIONAL TERMS THAT ARE PART OF THE OFFICIAL RULES
Please review the Terms of Service at https://www.proptechchallenge.com/terms-of-use for additional rules that apply to your participation in the PropTech Challenge and more generally your use of the PropTech Challenge Website. Such Terms of Service are incorporated by reference into these Official Rules. If there is a conflict between the Terms of Service and these Official Rules, the latter terms shall control with respect to this PropTech Challenge only.
Participation in the PropTech Challenge constitutes Maker’s full and unconditional agreement to these Official Rules. By entering, a Maker agrees that all decisions related to the PropTech Challenge that are made pursuant to these Official Rules are final and binding, and that all such decisions are at the sole discretion of the Poster and/or Administrator.
If you have any questions or comment, or wish to send us any notice regarding this PropTech Challenge, please email us at Sandy@PropTechChallenge.com.
PTC may collect non-personal information, which is information that does not identify you personally, such as demographic and profile data, through PTC's websites and share it with third parties.
When you click on links and/or ad banners that take you to third-party web sites, you will be subject to the third parties’ privacy policies. While we support the protection of privacy on the Internet, PTC cannot be responsible for the actions of third parties. We encourage you to read the posted privacy statement whenever interacting with any website.