1. Definitions

• “Organizers” refers to the entity responsible for hosting and managing Ktech Fest.

• “Participants” refers to individuals or teams who register and submit entries to the contest.

• “Entry” means any app, software, or related submission provided by a Participant during the contest.

• “Winners” refers to Participants selected by the Organizers as recipients of the prize.

• “Prize” refers to the equity-based reward structure as outlined herein.

2. Eligibility

• Participation is open to developers who meet the registration requirements set forth by the Organizers.

• Entries must be original works created during the contest period.

• Employees, contractors, or affiliates of the Organizers may be excluded at the Organizers’ discretion.

3. Contest Rules

• Participants must adhere to the timelines, formats, and submission guidelines communicated by the Organizers.

• Entries must not contain unlawful, offensive, or infringing content.

• The Organizers reserve the right to disqualify any Participant for misconduct or violation of these Terms.

4. Prize and Equity Distribution

 •  ​Winners will receive a predetermined prize package consisting of both cash and equity.

    •  ​60% of the prize will be awarded in cash.

    •  ​The remaining 40% will be provided in the form of equity-based benefits, including incubation support, office space, and access to amenities.

•  ​Winners must allocate 10% equity of their developed product to the organizers, who will retain the right of first refusal for future investment.

•  ​Equity distribution will be formalized through a binding agreement executed after the  contest.

• ​Hackathon participants are required to design their product up to the Minimum Viable Product (MVP) stage as part of the prize conditions.

5. Intellectual Property

• Participants retain ownership of their Entries.

• By submitting an Entry, Participants grant the Organizers a non-exclusive, royalty-free license to use, reproduce, and display the Entry for promotional, contest-related, and media purposes.

• The Organizers shall not claim ownership of the underlying intellectual property unless separately agreed in writing.

6. Media and Publicity

• Winners consent to the use of their names, likenesses, voices, and project details by the Organizers for promotional and media purposes.

• Such usage may include, but is not limited to, press releases, social media, interviews, advertising, and marketing campaigns.

• No additional compensation shall be provided for such usage beyond the Prize.

7. Liability and Indemnity

• The Organizers shall not be liable for technical failures, data loss, or damages incurred during participation.

• Participants agree to indemnify and hold harmless the Organizers against any claims arising from their Entries or conduct during the contest.

8. Governing Law and Dispute Resolution

• These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

• Any dispute arising under or in connection with these Terms shall be resolved through arbitration in Abuja, Nigeria, in accordance with the Arbitration and Conciliation Act.

• The decision of the arbitral tribunal shall be final and binding.

9. Amendments

• The Organizers reserve the right to amend these Terms at any time.

• Any amendments shall be communicated to Participants and shall take effect immediately upon publication.

10. Acceptance

• By registering and participating in Ktech Fest, Participants acknowledge that they have read, understood, and agreed to be bound by these Terms and Conditions.