TERMS AND CONDITIONS
The Chobani Food Incubator Program (“Chobani Incubator” or “Program”), sponsored by Chobani Ventures, LLC (“Chobani”) is a highly selective, world-class training program for outstanding food entrepreneurs and innovators who want to work side by side with like-minded natural food companies who share Chobani’s vision of better food for more people.
ELIGIBILITY: The Chobani Incubator is open to any individual who is a permanent legal resident of the fifty (50) United States and the District of Columbia, 21 years of age or older as of July 14, 2017, who is a founder and/or executive at a U.S.-based food start-up company in good standing and in possession of either a valid social security number, and/or a valid U.S. personal tax identification number.
If an individual is a resident of a jurisdiction that deems him/her to be a minor, then he/she must obtain parental/legal guardian consent prior to entering and/or prior to submitting any personally identifiable information. Accepted applicants hereinafter referred to as “Participating Companies.”
Officers, directors, and employees of Chobani, LLC or its affiliates; members of their immediate families (spouses and/or parents, children, and siblings, and their spouses); and/or persons living in the same households as such persons (whether or not related thereto) are not eligible to enter.
DISCLOSURE: All applicants must disclose any relationship between Participating Company (including, any full-time or part-time employee, contractor, investor, or advisor of the Participating Company) and any officers, directors, employees, investors, corporate entities, or affiliates of any Chobani Competitor (meaning, for purposes of these Terms and Conditions, any manufacturer of yogurt (including packaged yogurt, yogurt packaged with dry or wet goods, Greek Yogurt, regular yogurt, and frozen yogurt), dips (including yogurt-based dips, hummus and spreads), drinks (including drinkable yogurt, protein drinks, Kefir, shakes/breakfast, and shakes/smoothies)).
PARTICIPANT SELECTION CRITERIA: On or about August 1, 2017, Chobani will select six (6) Participating Companies from among all eligible entries received. Chobani will select the Participating Companies based upon the following criteria:
- Company aligns with Chobani’s DNNA Food Philosophy: Delicious, Nutritious, Natural, Accessible
- Mass Appeal of Product and Business
- Quality of Products Manufactured
- Financial Health of the Company and Growth Potential
The Sponsor reserves the right, in its sole discretion, to select less than six (6) Participating Companies or extend the entry period if an insufficient number of eligible entries are received. The decisions of Chobani are final and binding in all respects.
For each Participating Company selected, up to three (3) individuals may be chosen to participate (“Individual Participants”). These Individual Participants must consist of the owner/founder, and up to two (2) executive level employees. Individual Participants must meet all of the eligibility criteria set forth above.
PARTICIPANT NOTIFICATON: The Participating Companies will be notified by e-mail or phone if they are selected to participate in the Program. Individual Participants and Participating Companies will be required to execute an Affidavit of Eligibility and Liability/Publicity Release and Non-Disclosure Agreement prior to participating in the Program. If a potential participant cannot be reached, does not return required documents within the time requested, or does not agree to the Terms and Conditions of the Program, the opportunity to participate in the Program will be forfeited and another Participating Company may be selected according to the Selection Criteria above.
PROGRAM BENEFITS: The Chobani Food Incubator leverages Chobani's offices nationwide to provide the fullest perspective of building a global natural food company, from farm to fridge. The Program runs for four (4) months, beginning September 2017, and consists of monthly in-person educational programs (“Program Activities”). The Participating Companies must be able to attend the Program Activities* (may require travel the night prior):
- Sept 12–Sept 15: Week 1 in Soho, New York, NY
- October 16–20: Week 2 in Norwich, NY
- November 13–17: Week 3 in Soho, New York, NY
- December 11–14: Week 4 in Soho, New York, NY
- Jan 2018: Demo Day in NYC
* Estimated Itinerary; actual dates, locations, and itinerary of onsite programming are subject to change at the sole discretion of Chobani.
Each onsite visit will consist of educational programming, networking with Chobani Food Incubator Peers, access to Chobani team members and guest speakers. In between each onsite program, Participating Companies will continue to engage with the Chobani Incubator through the Chobani Food Incubator Online Community, peer discussions, and regular program check-ins.
Each Individual Participant will receive a travel stipend to be used for travel to the Program Activities. Travel stipend budget will be allocated per person per day of the onsite programs. Travel, including flights, trains, or hotels, will be booked by Chobani Travel and therefore not included in the travel stipend. Individual Participants will be responsible for all taxes on portions of the travel stipend personally received and will receive a 1099 tax form for the total value of that portion of the stipend at the end of each year the payments were received. The Participating Companies will be responsible for taxes on the portion of the stipend they receive, as well as the Grant (as defined below).
Each Participating Company will also receive a $25,000 grant to be used towards growth and business development of the Participating Company (“Grant”). This Grant will be payable in two installments of $12,500 each, payable after beginning and after completion of the Program on or before September 30, 2017, and on or before January 31, 2017. Participating Company will be responsible for all taxes on the Grant.
In the event at least one Individual Participant of the Participating Company is unable or unwilling to attend and participate in the Program Activities, that Participating Company may be required to forfeit participation opportunities. If a Participating Company is in breach or violation of any agreement with Chobani including the Program Terms and Conditions, Program benefits will be recoverable by Chobani.
RELEASE: Applicants understand that Chobani is not liable for injuries, losses, or damages of any kind arising from participation in this Program, and in all Program Activities. By participating, Participant releases Chobani, its respective parents, affiliates, subsidiaries, and agencies, and their respective directors, officers, employees, and agents from any and all liability with respect to Participation in the Program.
APPLICABLE LAW AND DISPUTES: This Program is subject to all applicable United States federal, state, and local laws and regulations. Issues concerning the construction, validity, interpretation, and enforceability of these Program Terms and Conditions shall be governed by the laws of the State of New York, without regard to any principles of conflict of laws. If the controversy or claim is not otherwise resolved through direct discussions or mediation, it shall then be resolved by final and binding arbitration administered by Judicial Arbitration and Mediation Services, Inc., in accordance with its Streamlined Arbitration Rules and Procedures or subsequent versions thereof. All disputes arising out of or connected with this Program will be resolved individually, and without resort to class action. Chobani is not liable for any consequential, indirect, exemplary, or punitive damages, or for attorneys’ fees.
General Conditions: This Program is subject to these Terms and Conditions. Chobani reserves the right, in its sole discretion, to disqualify any individual it (or its authorized designee) finds to be: (i) tampering with, as applicable, the entry process or otherwise with the operation of the Program or Program Website; (ii) acting in violation of these Terms and Conditions; (iii) acting in a non-sportsmanlike or disruptive manner, or with intent to annoy, abuse, threaten, harass, harm, mislead, or defraud any other individual or entity; or (iv) found to be otherwise in violation of law. Any person attempting to defraud any of the entries or in any way tamper with the Program or the Program Website will be ineligible to participate in the Program and Chobani will seek all remedies available to it, including, if appropriate, filing appropriate complaints with legal authorities. If, for any reason, the Program or Program Website (or any portion thereof) becomes corrupted, or is not capable of running as originally planned, does not allow the proper submission and processing of Applications, or corrupts or affects the administration, security, fairness, integrity, or proper conduct of the Program, Chobani reserves the right, in its sole discretion, to disqualify any individual implicated in such action and/or to cancel, terminate, modify, or suspend the Program or any portion thereof and to conduct the Program in a manner that is fair and equitable as determined by Chobani.
In case of a dispute over the identity of an entrant who submitted an Application, at Chobani’s discretion, the authorized account holder of the e-mail address account associated with that Application will be deemed the applicant. The "authorized account holder" is deemed the natural person who is assigned to an e-mail address by an Internet access provider, service provider or other on-line organization that is responsible for assigning e-mail addresses for the domain associated with the submitted e-mail address. Said owner must comply with these Terms and Conditions and, at Chobani’s sole discretion, may be required to provide proof of ownership of the e-mail account.