Official Rules

Published on 14th June 2017

These are the Official Rules of the 2017 UBS Future of Finance Challenge (the "Competition").


By participating in this Competition, you accept and agree to abide by these Official Rules and represent and warrant that you meet the eligibility requirements. In addition, you agree to accept the decisions of UBS as final and legally binding in all respects.

Please read these Official Rules carefully and completely.

In these Official Rules, all persons and entities who are eligible to participate in the Competition shall collectively be referred to as the “Participants” and each, a “Participant“.

Download a PDF copy of the Official Rules.

1.1 The Competition is sponsored and administered by UBS Group AG, P.O. Box, CH-8098 Zurich, Switzerland (“UBS“).

1.2 All Challenges in the Competition will be set, moderated, administered and managed by UBS.

1.3 All entrants and Participants agree and accept that UBS’s decisions on all issues relating to the Competition, including eligibility, shall be final and legally binding in all respects.

2.1 The Competition will be carried out through four (4) regional events (each an “Event” and collectively, the “Events”) and all Participants will be grouped into four (4) regions:

  • Americas;
  • Asia-Pacific;
  • Northern and Western Europe and Africa;
  • Switzerland, Eastern Europe, Central Asia and the Middle East.

2.2 A shortlist of not more than ten (10) Participants for each Event (i.e. a total of not more than forty (40) Event Finalists) will be chosen from the valid Proposals submitted and announced no later than September 15, 2017.

2.3 The Events will be held at the following locations (the "Event Locations") and dates (the "Event Dates"):

  • Hong Kong SAR, PRC (September 27 and September 28, 2017)
  • London, England, UK (October 23 and October 24, 2017)
  • New York City, New York, USA (November 7 and November 8, 2017)
  • Zurich, Switzerland (29 November and 30 November, 2017).

2.4 One (1) winner per Event (i.e. four (4) Event Winners in total) will be chosen and announced upon the conclusion of each Event.

3.1 To participate in the Competition, entrants must either be:

(a)(i) individuals of 21 years of age or older;

(ii) not subject to any bankruptcy or insolvency proceedings or any proceedings relating to the protection of rights of creditors;


(b)(i) start-ups or small & medium-sized enterprises (SMEs) that are ongoing business concerns; and

(ii) received less than US$20 million in total financing to-date; and

(iii) have an annual turnover of less than US$20 million.

3.2 Participants must be able to travel to and from the Event Location that is nearest the Participant's home location and be present at such Event Location between 09:00:00 - 18:00:00 local time on the respective Event Dates (see Section 2).

3.3 Each Participant must hold a current and valid passport and any other relevant travel documentation required for international travel and is responsible for obtaining the relevant visas to travel to the relevant Event Location.

3.4 Employees of UBS, 100%Open, their respective affiliated and subsidiary companies, and the officers, directors, partners, managers, members, trustees, employees, contractors, agents and suppliers of each (the “Associated Parties”) and the immediate family members and/or those living in the same household of each (collectively, the “Excluded Parties”) are not eligible to enter or win. Immediate family member is defined as husband, wife, civil partner, children, mother, father, sister, sister in-law, brother or brother in-law.

Participants who are affiliated with any Excluded Parties, or who otherwise have a relationship, association, connection or involvement with any Excluded Parties who helped to set up the Competition, or who are involved in administering or managing the Competition (especially in the evaluation or judging of Participants, entries or submissions) or are connected in any way with the Competition are also not eligible to enter or win. An affiliation is deemed to arise if a UBS employee or 100%Open employee is a shareholder, officer, director, partner, manager, member, trustee, employee or agent of a Participant.

3.5 Entries received from persons or residents of countries who are subject to economic sanctions measures imposed by the United Nations, European Union, Switzerland, the United States or any relevant and applicable jurisdiction and/or involving the Crimea Region, Cuba, Iran, North Korea, Syria or Sudan WILL BE VOIDED.

4.1 To enter the Competition, Participants must do the following:

(a) choose any of the following Challenges:

– Digital Ecosystem

– RegTech and LegalTech

–Investment Banking 4.0

– Wealth in the Digital Age; and

(b) submit their idea by completing all the required fields in the submission form found on the Competition website.

Once a completed submission form has been submitted, it becomes a formal submission (a “Proposal“), and no more changes can be made to it.


4.2 To withdraw a Proposal from the Competition, Participants should send an email to with the header “Withdraw Proposal”.

4.3 There is no limit on the number of Proposals that can be submitted by a Participant.

4.4 The odds of winning depend on the quality of the idea within a Proposal and how the idea meets the judging criteria and not the number of Proposals submitted.

4.5 All Proposals must be submitted via the link specified on the Competition website.

Proposals submitted via other means (e.g. email, through another UBS webpage, post) will not be considered.

5.1 The Competition opens on June 14, 2017 and closes on November 30, 2017.

5.2 All Proposals must be submitted via the Competition website from 09:30:00 Central European Summer Time (CEST) on June 14, 2017 (the “Start Date for Submissions“) until 23:59:59 CEST on July 28, 2017 (the “Closing Date for Submissions“).


5.3 Proposals will be reviewed between July 10, 2017 and September 8, 2017. During this time, representatives of UBS may contact Participants by telephone to discuss their Proposals and to obtain further clarification and information, as necessary.


All Proposals will be judged against a “6P” framework

  • Proposition: How compelling is your idea or technology?
  • Pioneering: How new and different is your idea or technology?
  • Potential: How big is the market opportunity?
  • Practical: How easy will it be to implement your idea or technology?
  • Plan: What are the next steps to get your idea or technology to market?
  • Proposer: What are your relevant capabilities and experience?

7.1 Each Event Winner will win a cash prize of USD 20,000.

7.2 In order to claim the prize, each Event Winner must have a valid bank account that:

(a) is held in the Event Winner’s own name – joint accounts are not permitted;

(b) has been held by the Event Winner for at least six (6) months prior to the Start Date of Submissions;

(c) is able to receive funds in US Dollars;

(d) is opened with a reputable bank operating legally within the Event Winner’s home location.

7.3 Prizes are not negotiable, not exchangeable, non-transferable and will be deposited directly into the prize winner’s bank account.

7.4 Prizes must not be used to fund or support any illegal enterprise or activity.

7.5 Event Winners are not entitled to seek a replacement prize or request for substitutions if the Event Winner is unable to or does not wish to accept or receive the prize “as-is”.

7.6 If an Event Winner is unable to claim or declines a prize for any reason, UBS will not be obliged nor required to find another winner or to offer an alternative prize.

7.7 Prizes are awarded at the discretion of UBS and no prizes will be awarded as a result of improper actions by or on behalf of any Participant.

8.1 All Participants are solely responsible for paying for their own costs and expenses arising from preparing or submitting their Proposal(s) and for participating in the Competition.

8.2 All Event Finalists are responsible for organizing and paying for their own travel arrangements to and from their respective Event Location and their home location, as well as for their accommodations.

However, if a Participant is selected as an Event Finalist, UBS will provide the Event Finalist with a limited monetary contribution to defray the actual costs incurred by the Event Finalist to attend the Event, limited to the following amounts:

  • Local: If the Event Finalist’s home location is within 150km of the nearest Event Location:
    US$ 100
  • Short haul travel: If the Event Finalist’s home location is both more than 150km from the nearest Event Location, and the flight time between the Event Finalist's nearest international airport and the nearest Event Location is less than five (5) hours:
    US$ 500
  • Long haul travel: If the Event Finalist’s home location is both more than 150km from the nearest Event Location, and the flight time between the Event Finalist's nearest international airport and the nearest Event Location is five (5) hours or more (not including any flight delays or standing times):
    US$ 1,250

    Note - UBS will only make one (1) monetary contribution per Event Finalist, regardless of the number of representatives that an Event Finalist chooses to send to attend the relevant Event.

    Example 1: An Event Finalist residing in London will attend the Event in London. If this Event Finalist sends 2 representatives to the Event, UBS will only make a contribution of US$100.

    Example 2: An Event Finalist travelling alone and residing in Singapore will attend the Event in Hong Kong (usually a 3½ flight). Unfortunately, his flight was delayed by 3 hours. UBS will only make a contribution of US$500.

8.3 Except for the contribution described in Section 8.210.2 above, UBS will not provide any other monetary or per diem allowance to any Participant or Event Finalist or pay for any other expenses, disbursements or costs (including meals, or personal expenses or upgrades) that a Participant or Event Finalist may incur while participating in the Competition.

8.4 Each Event Finalist is solely responsible for arranging for any insurance coverage that the Event Finalist deems is necessary or appropriate for travel, to insure belongings or for any other purposes.

9.1 Each Participant and all Event winners must declare and pay any and all taxes, duties or other charges (such as income or profits tax) arising from their participation in the Competition, including collecting any prize or receiving any benefits from the Competition.

9.2 All Participants understand and accept that UBS may be required to report and withhold taxes from the prizes or other benefits awarded from the Competition according to applicable laws and regulations, regardless of the prize winner’s place of residence or home location.

10.1 Event Finalists will be notified by email or telephone. The full list of Event Finalists will be published on the Competition website shortly thereafter.

10.2 Event Winners will be chosen and announced upon the conclusion of each Event. The full list of Event Winners will be published on the Competition website shortly thereafter.

11.1 All Event Winners must complete and return to UBS an Affidavit of Eligibility, Release of Liability and Publicity Release, if and as required, and any other legal or administrative documentation as UBS may require.

11.2 By accepting a prize, the Event Winner:

(a) grants its permission (except where prohibited by law) to the use of the Event Winner’s name, likeness, biographical information, country of residence and prize won for future advertising and publicity in any and all media now existing or hereafter devised throughout the world in perpetuity, without additional compensation, notification or permission; and

(b) agrees to release, discharge and hold harmless UBS and all Associated Parties from any and all claims, losses, liabilities, damages, demands or causes of action arising out of such use of the Event Winner’s information, and/or for the acceptance, use, or misuse of a prize.

12.1 Each Participant grants UBS a non-exclusive, worldwide, irrevocable, perpetual, royalty-free right and license to:

(a) to process and evaluate each Proposal and the Content therein along with other Participants for the purposes of the Competition and for UBS’s own evaluation purposes, including without limitation for determining an Event Finalist’s eligibility to be selected for any rewards or benefits offered by UBS as part of or in conjunction with the Competition; and

(b) to display, publish, transmit, edit, store, re-format, reproduce and distribute the Content on the Competition website and any other media now known or in the future invented in order to publicize and market the Competition.

12.2 Each Participant acknowledges, accepts and agrees that:

(a) UBS may have been and / or may already be developing or licensing (whether independently and with third parties) products and/or services with functionalities similar to those described in a Proposal;

(b) nothing in this Competition will restrict UBS’s independent development or purchase of competing products and/or services or give a Participant any rights with respect to such products and/or services; and

(c) UBS is not obliged or required to disclose any information about any of the abovementioned products and/or services to any Participant, and each Participant shall have no right to demand or request for UBS to make any such disclosure.

12.3 Each Participant accepts and agrees that UBS has no obligation, either express or implied, to develop a Proposal unless otherwise agreed in a formal written agreement between UBS and a Participant upon the conclusion of the Competition.

13.1 NO.


UBS is under no obligation or requirement to keep any Proposal or its contents confidential and no confidential or fiduciary or other legal relationship is created (or intended to be created) between a Participant and UBS and / or 100%Open by submitting a Proposal.

13.2 By submitting a Proposal, each Participant represents and warrants to UBS that:

(a) the Proposal and all the contents and information therein are not confidential and are not submitted in confidence or trust, and no confidential or fiduciary or other legal relationship is created (or intended to be created) with UBS and/or 100%Open by submitting a Proposal; and

(b) the Participant is free to submit the Proposal and disclose and provide the contents and information therein and by doing so, no prior obligation of confidentiality is or has been breached and no proprietary, intellectual property, privacy or contractual rights of any third party is or has been infringed.

14.1 UBS does not, unless agreed in writing with a Participant, claim any rights of ownership to any idea, information or content submitted as part of a Proposal (the “Content“).

14.2 All Participants retain ownership and copyright to their Content, and by submitting a Proposal, each Participant represents and warrants to UBS that the Participant is the owner of all the Content and is authorized to submit the Content to UBS and grant the rights, licenses and releases set out in these Official Rules.

15.1 Participants will be asked to provide their personal information (such as name, email, telephone number) data so that UBS can administer the Competition or for security clearance, or other administrative or logistical purposes. As Participants progress through the Competition, a Participant’s name may also be publicized and published.

15.2 Participants agree that any personal data submitted as part of or during the course of the Competition may be disclosed to, shared with and processed by UBS’s affiliate companies or UBS’s third party agents, contractors, business partners or service providers (who may be located inside or outside of a Participant’s country of residence) in accordance with applicable data protection laws.

UBS will not otherwise disclose such personal data to third parties without a Participant’s consent unless UBS is required or requested to do so pursuant to any law, regulation or regulatory order.

15.3 UBS will not sell or data mine any personal information collected or received in the course of the Competition.

15.4 Unless otherwise agreed by a Participant, personal information obtained in the course of the Competition will be destroyed within a reasonable time after the Competition has ended.

15.5 Except as expressly provided in these Official Rules, UBS’s use of Participant’s personal information shall be in accordance with the Privacy Statement, published at

16.1 Any Participant that UBS believes does not, or is unable to, comply with and meet these Official Rules, has violated these Official Rules, is not eligible to participate, who has provided false information, acted in a harassing or unsportsmanlike manner with respect to UBS or any other Participant, or tampered with the operation of the Competition will be disqualified.

16.2 In addition, any attempt by a Participant to deliberately damage the Competition website or undermine the legitimate operations of the Competition may be a violation of criminal and civil laws. Should such an attempt be made, UBS reserves the right to seek damages from any such Participant to the fullest extent permitted by the law and to disqualify such Participant from the Competition.

17.1 UBS is not responsible for any problems which may limit a Participant’s ability to participate in the Competition, such as (but not limited to):

  • technical malfunctions of electronic equipment, computer online systems, servers, or providers; or
  • computer hardware or software failures; or
  • phone lines, traffic or congestion on the Internet or any website; or
  • for any other technical problems including telecommunication miscommunication or failure, and failed, lost, delayed, incomplete, garbled, or misdirected Submission Forms and/or Proposals or communications.

Participants are solely responsible for (a) acquiring and maintaining such electronic devices and equipment that can handle and will allow them to access and use the Competition website; and (b) for taking adequate and appropriate data security measures in accordance with good industry practice to protect themselves, their equipment and their information against fraud or cyber-attacks on a continuous basis (e.g. by installing recommended security patches, and up-to-date anti-virus programs and firewalls).

17.2 UBS is also not responsible for any other errors or malfunctions of any kind, whether network, printing, typographical, human or otherwise relating to or in connection with the Competition, including, without limitation, errors or malfunctions which may occur in connection with the administration of the Competition, or arising from natural disasters, war, fire, flood, earthquake, explosion, acts of terrorism, epidemic or pan-epidemic or civil commotion, power outages or a network or systems failure, sabotage, computer virus, hacking or other unauthorized access or systems breach, strikes or lockouts or labor disputes or other events that prevent the Competition from functioning as intended.

17.3 UBS reserves the right to modify, suspend or terminate the Competition in the event the Competition website becomes infected by a computer virus or is otherwise technically impaired, and to cancel or suspend the Competition in its entirety should tampering, unauthorized intervention, fraud, technical failures or other causes corrupt the administration, security, fairness, integrity or proper play of the Competition.

17.4 By entering the Competition, each Participant hereby irrevocably releases and forever discharges UBS, 100%Open and the Associated Parties named in Section 3.4 above from any and all actions, causes of actions, claims, damages, losses, liabilities and demands or any nature whatsoever that the Participant now has or hereafter may have against UBS, 100%Open and the Associated Parties with respect to a Proposal and the Content or howsoever arising from or relating to the Participant’s participation in the Competition.

17.5 To the maximum extent permitted by applicable law, UBS, 100%Open and the Associated Parties exclude all liability and responsibility for any amount or kind of loss or damage that may result to a Participant or a third party (including without limitation, any direct, indirect, punitive or consequential loss or damage or any loss of income, profits, goodwill, data, contracts, use of money, or loss or damage arising from or connected in any way to business interruption and whether in tort (including without limitation negligence, contract or otherwise)) in connection with the Competition and/or this website.

18.1 This Competition, including all issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of a Participant, shall be governed by and construed exclusively in accordance with the substantive laws of Switzerland.

18.2 Each Participant agrees that any action at law or in equity arising out of or relating to the Competition, or awarding of a prize, shall be filed exclusively in the Commercial Court of the Canton of Zurich.

18.3 By participating in the Competition, all Participants waive any claims that may arise under the laws of countries, territories or jurisdictions other than Switzerland. Those who choose to participate in the Competition from locations outside of Switzerland do so on their own initiative and are responsible for compliance with local laws if and to the extent local laws are applicable.

18.4 If any provision of these Official Rules is held to be invalid by a court of law or similar, such provision shall be deemed to be severed from these Official Rules and invalidity shall not affect the enforceability of any other provisions not held to be invalid.