Important clauses which may limit our responsibility, place an obligation on you to indemnify us, involve an acknowledgment of any fact or involve some risk for you will be in bold and italics. You must pay special attention to these clauses.


The Competition starts at 00h00 on Monday, 5 October 2015 and ends at 23h59 on Friday, 6 November 2015 (“Competition Period”).


Almost anyone may enter. To qualify as an entrant of this Competition:

  • You must be 18 (eighteen) years of age or older.
  • You can be any nationality including South African and non-South African.
  • If you are an employee of Standard Bank (or one of its partners), you may not be directly involved in the competition.


    3.1 Submit an idea, either as an individual or as a team, in any one of the following categories via the IdeaScale site found at (“Idea”):

    3.1.1 Fintech Developments;

    3.1.2 Artificial Intelligence/Virtual Reality;

    3.1.3 Wearables;

    3.1.4 Robotics;

    3.1.5 Smart Mobility;

    3.1.6 Mobile and/or web based;

    3.1.7 Agri-science; and

    3.1.8 Health.

    3.2 Your Idea that you submit must be in one of the following phases:

    3.2.1 Early stage idea/concept which must be grounded on innovative/disruptive technology capabilities applied to banking/finance;

    3.2.2 Start-up/prototype of the product, service or application; and

    3.2.3 Established/proven technology.

    3.3 There are no forms to fill in and once you meet the requirements set out in clause 2 above and this clause 3, you will automatically be entered into the Competition.

    3.4 You can enter the Competition as many times as you wish, as long as each Idea submitted is unique.

    4. PRIZE

    4.1 Three entrants will each win one of the following prizes for use in developing their Idea (“Grand Prize”):

    4.1.1 One entrant will win R300 000.00 (three hundred thousand Rand) (“First Prize”);

    4.1.2 One entrant will win R200 000.00 (two hundred thousand Rand) (“Second Prize”); and

    4.1.3 One entrant will win R100 000.00 (one hundred thousand Rand) (“Third Prize”).

    4.2 Three entrants will each win a mentorship and accelerator support programme to the maximum value of R25 000.00 (twenty five thousand Rand) (“Secondary Prize”).

    4.3 The Grand Prize and Secondary Prize shall hereinafter collectively be referred to as the “Prize”.

    4.4 If a team entry is picked as a Prize winner, the Prize will be allocated to the team as a whole and not each individual in the team.

    4.5 The Finalists will be chosen by means of a judging process conducted by Standard Bank which will be held from Friday 6 November 2015 to Wednesday 11 November 2015 (“Judging Process”). The Judging Process will be conducted in terms of the following criteria:

    4.5.1 Value Proposition (how compelling is your Idea for Standard Bank clients);

    4.5.2 Innovation (how new/different is your Idea);

    4.5.3 Market Opportunity (how big is the target market);

    4.5.4 Practical (how easy will it be to implement your Idea);

    4.5.5 Plan (what are the next steps to get your Idea in to the market); and

    4.5.6 Proposer (what are your relevant capabilities and experience).

    4.6 Twenty (20) finalists will be selected from the Judging Process and will be invited to the regional finals and pitching sessions hosted by Standard Bank at the Standard Bank Centre, 30 Baker Street, Rosebank on Friday, 20 November 2015 (“Regional Finals”) where they must pitch their idea to the final judging panel who will make their decision using the same criteria that was used in the Judging Process.

    4.7 The Prize winners will be announced on the same day as the Regional Finals (“Announcement”). The Prize winners must be present for the Announcement.

    4.8 The Prize will be available to the Prize winners within 7 days of the announcement. The Grand Prize will be credited to the Grand Prize winners’ chosen accounts. The Secondary Prize winners will receive full details of the Secondary Prize from us.

    4.9 Where relevant, if a person does not accept the Prize within the term specified, if an entry is not valid for whatever reason, if an entrant has breached these terms and conditions, if a person renounces the Prize or we deem such person to have renounced the Prize, we reserve the right to declare the Prize forfeited and/or choose a new Prize winner.

    4.10 The Prize may not be exchanged for any other item. We do however reserve the right to substitute the Prize with any other prize of a similar commercial value.

    5. GENERAL

    5.1 We are the promoter of the Competition. Any reference to we/us/our includes our directors, members, partners, sponsors, agents or consultants, where the context allows for it.

    5.2 These terms and conditions are governed by the Consumer Protection Act 68 of 2008.

    5.3 By entering this Competition, all entrants agree to be bound by these terms and conditions.

    5.4 We will need to process your personal information to validate your entry and if you are a Prize winner, to make the Prize available to you. By entering this Competition, you consent to us processing your personal information for this purpose. If you do not consent to us processing your personal information, please do not enter this competition.

    5.5 No entry will be considered to be valid until a validation process has taken place.

    5.6 You must have the permission from all the individuals that appear in your Idea (if any) to use their name and likeness as well as to agree to these terms and conditions on their behalf.

    5.7 Your Idea must not disparage us or any other party affiliated with this Competition in any way and must not contain:

    5.7.1 material that violates or infringes another person’s rights, including but not limited to privacy, publicity, or intellectual property rights or that constitutes a copyright infringement;

    5.7.2 brand names or trademarks;

    5.7.3 images or artwork not created by you;

    5.7.4 material that is inappropriate, indecent, obscene, hateful, tortious, defamatory, slanderous or libellous;

    5.7.5 material that promotes bigotry, racism, hatred or harm against any group or individual or promotes discrimination based on race, gender, religion, nationality, disability, sexual orientation, or constitutes any other form of unfair discrimination;

    5.7.6 material that is unlawful or in violation of any laws of the Republic of South Africa;

    5.7.7 viruses, worms, corrupted files, cracks or other material that is intended to damage or render inoperable the software, hardware or security measures put in place by Standard Bank or IdeaScale;

    5.7.8 material that promotes gambling or the sale/use of hard liquor, tobacco products or any other illegal substances/activities; and

    5.7.9 material that otherwise restricts or inhibits any person’s use or enjoyment of submitting an Idea through IdeaScale at any time either before, during or after the Competition Period.

    5.8 Ideas generated by script, macro or other automated means are void. If requested, you must be able to provide permissions that you have obtained from other individuals featured in your Idea in a form acceptable to us.

    5.10 You acknowledge and accept that Standard Bank has constant access to several sources of works, concepts, ideas, innovation and more generally creative materials of any kind whatsoever, that are developed either internally by its own employees or externally by other sources before, during and after the Competition. You therefore agree that if your Idea includes an idea or suggestion which we may have previously worked on, may be working on or may in the future work on the same or a similar idea (“Similar Idea”) then, for reasons of confidentiality, we shall not be obliged to provide you with any information relating to any Similar Idea and we shall not be liable for any claims, costs, expenses, losses, damages or demands of whatsoever nature suffered or incurred by you in relation to your Idea or any Similar Idea.

    5.11 Standard Bank shall not be obliged to personally implement your Idea (whether you are a Prize winner or not). In the event that we are not able to implement a Prize winner’s Idea, we will take reasonable steps to assist the Prize winner with the implementation of their Idea elsewhere in the industry.

    5.12 In the event of a dispute, our decision will be final and binding on all aspects of the Competition and no correspondence will be entered into.

    5.13 We assume no risk and/or liability whatsoever for the failure of any technical element in the Competition which may result in an entrant’s entry not being successfully submitted and/or the Prize winners not successfully receiving or taking up the Prize. Once the Prize winners accept the Prize, such Prize winners accept such Prize at his/her own risk.

    5.14 We assume no liability whatsoever for any direct or indirect loss, harm or damage arising from an entrant's participation and/or any Prize awarded in the Competition or for any loss or damage, howsoever arising. All persons, whilst participating in this Competition, indemnify and hold us harmless for any loss, damage, harm or injury (whether arising from negligence or otherwise) which may be sustained as a result of any claim, costs, expense, loss or damages which may be made by any third party.

    5.15 If required by the Minister of Trade and Industry, the National Consumer Commission or for whatever other reason, we will have the right to terminate this Competition with immediate effect and without notice of such termination. In such event, all entrants hereby waive any rights, which they may have against us and hereby acknowledge that they will have no recourse or claim of any nature whatsoever against us.