Sanara Ventures and The Israel Export Institute invite you to participate in the 2021 #OpenMED Innovation Competition!
Sign up now for a chance to win a multi-tier prize package including mentorships, business plan support, IP consultation, international exposure and more!
Live pitches from selected finalists will take place on April 20-21 during the MEDinIsrael Conference 2021.

The 2021 OpenMED Competition

TERMS AND CONDITIONS FOR PARTICIPATION

*we encourage you to carefully read these terms and conditions before submitting your application.

1.INTRODUCTION

1.1. Sanara Ventures Ltd. (“Sanara”) operates a technological incubator in Ra’anana under license from the Israel Innovation Authority (the “IIA”) pursuant to Incentive Program No. 3 – Technological Incubators (“Program No. 3”), focusing on investing in early stage companies in the healthcare sector (the “Incubator”).
1.2. During the dates specified below Sanara and the Israel Export Institute (among others) will sponsor a public contest for startups in order to seek entrepreneurs and innovators with outstanding and promising healthcare technologies who wish to turn their innovations into new products and applications in preferred market segments (the “Contest”).
1.3. Sanara will have the right to select one Applicant (as defined below) as the contest winner to benefit from the prizes as set forth below.
1.4. The submitting company, team or individual (each, an “Applicant”) whose idea/invention may be selected, will be entitled to receive a prize package, as specified below in accordance with and subject to the terms set forth below.

2.PARTICIPATION CRITERIA: WHO CAN PARTICIPATE?

In order to participate in the Contest, an Applicant must meet all of the following criteria:
•An Applicant may be an individual, a group of individuals or a private company registered under the laws of the State of Israel.
•Applicants must be “residents” of the State of Israel (as defined under applicable law).
•If the Applicant is an individual or a team of individuals, each must be over the age of 18.
•The Applicant has developed a new idea/invention in the field of digital health/Bio-convergence or medical devices (the “Invention”).
•The Applicant owns all rights and title in the Invention which it submits as part of its application.
•The Applicant’s Invention must represent and may only include the original work of the Applicant, to which the Applicant has all rights and title.

3.GENERAL GUIDELINES

Submissions of applications into the Contest by Applicants are to be made pursuant to the following general guidelines:
3.1. An Applicant who wishes to register for the Contest may register and submit its application through the Contest website: http://sanaraventures.com/open-med
3.2. The application form and all other required documents and information (as detailed below) must be received by March 18th, 2021.
3.3. Each Applicant must choose a primary contact person for the Applicant by providing a name, e-mail address, mailing address and phone number in the application form (the “Representative”). All communications between the Applicant and Sanara as part of the Contest shall be made through the Representative.
3.4. If the Applicant is a registered company, the Applicant must provide written approval from the company’s board of directors that the Representative is authorized to apply for the Contest on behalf of the company, undertake to comply with these terms conditions on behalf of the company, and represent it as part of the Contest. If the Applicant is a group of individuals, the Applicant must provide written approval from each of such individuals that the Representative is authorized to represent them to apply for the Contest on behalf of such individuals, undertake to comply with these terms conditions on behalf of such individuals, and represent them as part of the Contest.
3.5. As part of its registration for the Contest, an Applicant should submit the following in English:
•Non-confidential pitch deck.
•One-page executive summary.
•CVs of all the individuals who constitute the Applicant (i.e. the founders).
•Applicant may be requested to submit further information, including but not limited to:
oDetails on Intellectual Property.
oDetailed 24-month workplan.
oPublications to provide scientific support.
oReferences.
3.6. Without derogating from the above, Sanara may request, at any time, additional information and/or documents from an Applicant in order to evaluate its application.
3.7. Applicants that have already secured financing or other capital arrangements from any source for the submitted Invention must disclose the amounts and sources of such funding in a separate notice, to be included in the additional materials submitted as part of their application. Such financing arrangements may include, but are not limited to, sales revenue or contracts, research grants, personal or family funds, angel investments, or venture capital investments and/or non-institutional funding. Any Applicant securing financial or other capital arrangements midway through the Contest must immediately disclose to Sanara the amounts and sources.

4.REVIEW AND EVALUATION

4.1. A select group of judges (the “Judges”) will review all Applicants’ submissions (as set forth below). Judging the competition will be an international team of 6 senior-level and experienced health, medical and technology professionals including entrepreneurs, investors, clinicians, hospital officials, and executives from a wide range of organizations within the field. The nomination of the Judges, as well as their number and identity, shall be made at Sanara’s sole discretion.
4.2. Neither the Judges nor Sanara are required to provide feedback to the Applicants at any stage of the process.
4.3. The submitted applications and Applicants will be reviewed and evaluated according to the following stages:
Stage 1:
Initial screening – narrowing down the applications will be performed by Sanara’s representatives. Some of the Applicants, if any, may be invited for a meeting at Sanara’s offices. Such Applicants may be required to perform live presentations to a select audience. At the end of Stage 1, ten Applicants shall be selected by Sanara and the Judges.
Stage 2:
The Applicants which are successfully selected in Stage 1 shall be reviewed and evaluated by the Judges. The selected Applicants may be invited for a meeting at Sanara’s offices and may be required to perform live presentations to the Judges. Five Applicants will be selected according to the Judges’ feedback at the end of Stage 2 (each, a “Final Candidate”).
Stage 3:
The Final Candidates selected at the end of Stage 2 will be invited to present their application and Invention to the Judges in a live studio session, wherein the Final Candidates will each be given an opportunity make a 2 minute pitch followed by a questions and answers session, at a final event which will take place at [studio address] on April 7th, 2021, or at any other place or date to be determined by Sanara at its sole discretion (the “Final Event”). Following such presentations, the Judges may choose the winner of the Contest from the Final Candidates from all 3 tracks (the “Winner”). Notwithstanding the abovementioned, Sanara may elect, at its sole discretion, to choose additional winners (more than one), only one Winner or elect not to choose any Winners and the Applicants shall have no claims or demands with respect to such decision.
The selection and announcement of the Winner (if any) will take place during the Final Event and shall be at Sanara and the Judges’ sole discretion. Sanara also reserves the right to choose to announce the Winner (if any) only after the Final Event, by publishing his/its name on Sanara’s website or by providing the Winner with a written notice.
In addition, Sanara shall be entitled, but not required, to announce the Winner (if any) at a press release and generate press coverage for the Contest.
The Representative of each Applicant (as mentioned above) may be notified by e-mail of its application status after each relevant stage in the screening process.

5. PRIZE PACKAGE

The Winner of the OpenMED competition will be awarded the following prize package, to the extent relevant for the Winner (“Prize Package”), from a host of esteemed sponsors (collectively, the “Sponsors”):
●SANARA VENTURES-A mentorship program.
●ISRAEL EXPORT INSTITUTE
-Multi-tiered assistance program + membership benefits.
-Participation in the prestige “Merage Institute Program in Life Science”, taking place in Irvine, California.
●Life Science Nation-3 tickets to one of the digital events in 2021.
●MEDIX-Software package + mentorship program.
●COHN, DE VRIES, STADLER & CO.-IP strategy program.
●INTEGER-Engineering package + mentorship program.
●PHYSIO-LOGICS-Regulatory strategic support.
●KPMG-Advisory package.

Disclaimer: Prize packages do not include flights, accommodation and other logistics expenses and may depend on the current stage of the company or organization.

6.CONFIDENTIALITY

6.1. As a matter of convention and practicality, Sanara, its affiliates, the other Sponsors, and/or anyone acting on Sanara’s behalf will not sign confidentiality agreements as part of the Contest. The individuals who will have access to the applications will be Sanara’s representatives and the Judges. Without limiting the generality of the foregoing, the Applicant acknowledges that these representatives are largely professionals who regularly deal with confidential and proprietary information over the course of their work and may be involved in the creation of intellectual property for their respective organizations.
6.2. Without derogating from the above, even if an Applicant marks its information (including its ideas, presentations, and plans submitted throughout the process) as “confidential,” neither Sanara, its affiliates, the other Sponsors, nor anyone acting on Sanara’s, including the Judges, will have any obligation to maintain the confidentiality of the information submitted and/or disclosed as part of the Contest.
6.3. The Applicant should not include any confidential or proprietary information in the submitted materials as part of the application which the Applicant would not want disclosed to third parties, including potential investors.

7.INTELLECTUAL PROPERTY

7.1. By submitting an application, the Applicant and/or any member thereof represents and warrants to Sanara that it has all right, title and/or interest in the application submitted and that the information it contains is accurate and complete, and that by submitting the application it is not and will not be violating any contract, law or third party’s rights including any patent, copyright, trade secret, proprietary or confidential information, trademark, publicity or privacy right.
7.2. The Applicant hereby indemnifies and agrees to defend Sanara, its affiliates, the other Sponsors, and anyone acting on Sanara’s behalf (including the Judges) against any claims or lawsuits, liabilities, losses or damages, including attorneys’ fees, that arise from or result from such Applicant’s submission.
7.3. Sanara is not claiming ownership rights to any Applicant’s application or the information or intellectual property it may contain (including the Invention). However, by submitting an application, each Applicant grants Sanara an irrevocable, royalty-free, worldwide right and license to use, review, assess, test and otherwise analyze such Applicant’s application and all its content in connection with the Contest and feature such Applicant’s application (and certain information and/or data contained in it) in connection with the marketing, sale, or promotion of the Contest (including but not limited to internal and external sales meetings, conference presentations, tradeshows, and screen shots of such application in press releases).

8.NO WARRANTY; LIABILITY

SANARA AND ITS AFFILIATES AND THE OTHER SPONSORS MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND CONCERNING THE CONTEST AND/OR THE OFFER, WHETHER EXPRESS OR IMPLIED. THE PRIZE PACKAGE IS PROVIDED “AS IS”. IN NO EVENT SHALL SANARA, ITS DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES, AND AFFILIATES OR THE OTHER SPONSORS BE LIABLE FOR ANY ADVICE, INFORMATION OR DECISIONS MADE AS PART OF THE CONTEST OR FOR:
a)ANY CONSEQUENTIAL, INDIRECT, SPECIAL, INCIDENTAL, OR PUNITIVE DAMAGES;
b)ANY LOSS OF PROFITS, LOSS OF BUSINESS, LOSS OF REVENUE, OR LOSS OF ANTICIPATED SAVINGS;
c)ANY LOSS OF, OR DAMAGE OR INTERRUPTION TO, DATA, NETWORKS, HARDWARE, REPUTATION, OR GOODWILL; AND/OR
d)THE COST OF PROCURING ANY SUBSTITUTE GOODS OR SERVICES.

8.1. THE COMBINED AGGREGATE LIABILITY OF SANARA AND ALL SANARA AFFILIATES UNDER, OR OTHERWISE IN CONNECTION WITH, THESE TERMS AND CONDITIONS SHALL NOT EXCEED $1 USD.

8.2. THE FOREGOING EXCLUSIONS AND LIMITATIONS SHALL APPLY: (A) TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW; (B) EVEN IF SANARA HAS BEEN ADVISED, OR SHOULD HAVE BEEN AWARE, OF THE POSSIBILITY OF LOSSES, DAMAGES, OR COSTS; AND (C) REGARDLESS OF THE THEORY OR BASIS OF LIABILITY, INCLUDING WITHOUT LIMITATION BREACH OF WARRANTY, NEGLIGENCE, MISREPRESENTATION, STRICT LIABILITY, OR OTHER CONTRACT, TORT OR STATUTORY LIABILITY.

8.3. By submitting an application each Applicant and/or any member thereof voluntarily releases Sanara, its affiliates, representatives, and/or anyone acting on its behalf, as well as the other Sponsors from any liabilities, responsibilities and accountabilities arising from participation in the Contest and/or its activities.
8.4. The Applicant acknowledges that Sanara and/or its affiliates and/or anyone acting on its behalf, as well as the other Sponsors, may be developing (or might develop in the future) products or technologies that are similar, identical, relate to or are or may be competitive with the products, ideas, services or technologies submitted by Applicant. The Applicant agrees that all claims against Sanara and/or its affiliates and/or anyone acting on its behalf, the other Sponsors, and any others involved in the Contest, based on or arising out of any proprietary and/or confidentiality rights in the submissions are expressly waived and disclaimed.

9.PUBLICITY

9.1. Applicants hereby give their consent and approval that some of the information provided by them during the stages of the Contest (including, but not limited to, during the application process the evaluation process and as part of the Final Event), including names of entrepreneurs, names of the startups, images and photos of the Applicants, and their Inventions taken during the Final Event, and the abstract description of their enterprises (or any part thereof), may be used by Sanara in public documentation related to the Contest and for advertising and publicity purposes. It is the responsibility of the Applicant to ensure that the abstract description does not include any confidential information.
9.2. Each Applicant agrees that it will not use any names, trademarks, logos or other copyrighted information of Sanara or any variation, adaptation or abbreviation thereof, or of any of its officers, employees, agents, or any trademark or trade name of the above or any affiliate thereof in any advertising or publicity without the prior written permission of such parties.

10.MISCELLANEOUS

10.1.Any reference to Sanara shall mean any person, company, partnership, or other entity which manages or is managed, controls or is controlled by, or is under common control, directly or indirectly, by Sanara.
10.2.Sanara reserves the right to cancel, change or suspend the Contest for any reason and at any time.
10.3.Sanara considers a variety of projects, plans, ideas and products as research ideas, product development and investment opportunities, and Sanara and/or its affiliates, and/or anyone on their behalf, are not under any obligation to compensate an Applicant and/or anyone on its behalf for any submission, regardless of whether Sanara, and/or its affiliates and/or anyone on their behalf pursue a similar or identical plan, idea, product or service in the future.
10.4.Applicants considering participation in the Contest are encouraged to obtain their own professional legal advice regarding their participation in the Contest, applicable intellectual property legislation etc.
10.5.This Contest will be governed by the laws of the State of Israel, and each Applicant consents to the exclusive jurisdiction and venue of the courts of the State of Israel in Tel Aviv-Jaffa for any disputes arising out of this Contest.

For further information, please visit Sanara Ventures or http://sanaraventures.com/open-med.
Questions may also be e-mailed to: competition@sanaraventures.com

Good Luck!3 tickets to one of the digitan events in 2021