ASPIRE IGNITE PROGRAM TERMS AND CONDITIONS

1. INTRODUCTION

1.1. These Terms and Conditions for the Aspire Ignite Program ("Program") are binding on all startups participating in the Program organized by Aspire FT Pte. Ltd. (referred to as the "Company").

1.2. Participants agree to be bound by all the Program terms and conditions below by participating in this Program. The Program terms and conditions must be read together with the Company's Terms of Service, Privacy Policy, and any other applicable policies. In the event of any inconsistency between these Terms and Conditions and any brochure, marketing or promotional material relating to the Program, these Terms and Conditions shall prevail.

1.3. The Company reserves the right, at its sole discretion, to modify, amend, or update these Terms and Conditions at any time. Any changes will be effective immediately upon posting the updated Terms and Conditions on the Company's website. Participants are responsible for regularly reviewing these Terms and Conditions to stay informed of any changes.

2. ELIGIBILITY

2.1. The Program is only available to startups that meet the criteria defined herein. To be eligible to participate in the Program, startups must:

  1. Be legally incorporated in Singapore, Hong Kong, or Indonesia and qualified to do business in its respective jurisdiction;
  2. Have received funding, whether internally or externally, that qualifies them as Pre-Seed or Seed stage startup as defined in Section 3;
  3. Complete the application process through the designated application portal;
  4. Provide all required documentation verifying their funding status and eligibility;
  5. Receive formal acceptance into the Program from the Company; and
  6. Be an Aspire customer or open an Aspire account to participate in the Program.

2.2. Where all the criteria in 2.1(a) to 2.1(f) are met, startups are referred to as "Eligible Startups."

2.3. The Company retains sole discretion in determining whether a startup meets the eligibility requirements for the Program.

3. INTERPRETATION

3.1. For the purpose of this Program:

  1. “Terms of Service” means the terms and conditions of the Company which can be accessed at https://aspireapp.com/tnc/master-service-agreement.
  2. "Eligible Startup" refers to a startup that has been verified by the Company as meeting all eligibility requirements for participation in the Program.
  3. "Pre-Seed Stage Startup" refers to a startup that has received initial funding typically ranging from $50,000 to $500,000 from the founders, friends and family, angel investors, pre-seed funds, or accelerators, and is typically in the concept or early product development phase.
  4. "Seed Stage Startup" refers to a startup that has received seed funding typically ranging from $500,000 to $3 million from seed funds, angel groups, early-stage venture capital firms, or similar entities, and has a minimum viable product with some early traction
  5. "Series A+ Stage Startup" refers to a startup that has received Series A financing or beyond (including Series B, C, etc.) typically at or above $3 million from institutional venture capital firms, and demonstrates significant traction, revenue growth, or user acquisition.
  6. "Program Benefits" refers to the various incentives, perks, services, credits, discounts, and other advantages offered to Eligible Startups as detailed in Schedule A.
  7. "Benefit Period" refers to the specific duration during which each Program Benefit is available to an Eligible Startup, as detailed in Schedule A.
  8. "Qualifying Activities" refers to the specific actions, milestones, or requirements that an Eligible Startup must fulfill to access or maintain specific Program Benefits.
  9. "Partner" refers to any third-party service provider, vendor, or organization that provides services or benefits as part of the Program.
  10. “VC Connections” refers to introductions, networking opportunities, office hours, and pitch events facilitated by the Company to connect Eligible Startups with venture capital firms and investors.
  11. “Aspire Rewards” refers to the package of benefits available to all registered startups in the Program, including partner perks, cashback incentives, and access to workshops.
  12. “Upsized Rewards” refers to the enhanced benefits package available to selected top-performing startups in the Program, including additional credits, exclusive access to investors, and premium program benefits.
  13. “Jurisdiction” refers to the geographical and legal territories of Singapore, Hong Kong, or Indonesia, where the Program is officially offered by the Company.

3.2. For the purpose of determining an Eligible Startup's stage, the following shall apply:

  1. The determination will be based primarily on the most recent funding round completed by the startup.
  2. The Company may request documentation including but not limited to term sheets, cap tables, bank statements, or other proof of funding.
  3. If a startup has received funding that spans multiple stage definitions, the Company will categorize the startup based on its most advanced qualifying stage.
  4. The Company's determination of a startup's stage is final and binding.

4. PROGRAM MECHANICS

4.1. Upon acceptance into the Program, Eligible Startups will receive access to Program Benefits corresponding to their verified funding stage as outlined in Schedule A.

4.2. The Program operates in two phases:

  1. Phase 1: All Eligible Startups receive access to Aspire Rewards, workshops, and VC reverse pitch events.
  2. Phase 2: Selected top startups receive access to Upsized Rewards, VC connections, office hours, and finale events based on evaluation of submitted pitch decks.

4.3. To activate specific Program Benefits, Eligible Startups must:

  1. Complete any required onboarding processes specific to each benefit;
  2. Fulfill any Qualifying Activities required for specific benefits;
  3. Adhere to any usage guidelines, terms, or restrictions associated with each benefit; and
  4. Acknowledge and agree to the Terms of Service for any use of services for the Qualifying Activities.

4.4. Program Benefits are non-transferable and may not be sold, exchanged, or bartered.

4.5. The Program Duration is from the date of acceptance into the Program until the term as stipulated in Schedule A.

4.6. Selection of Top Startups.

  1. The selection of startups for Phase 2 of the Program, including determination of the "top startups" eligible for Upsized Rewards and additional benefits, shall be made at the Company's sole and absolute discretion.
  2. The Company's selection process may consider factors including, but not limited to, the quality of the startup's pitch deck, business model viability, market opportunity, team composition, traction metrics, funding stage, growth potential, and alignment with Partner VCs' investment criteria.
  3. The Company is under no obligation to disclose its specific selection methodology or provide detailed feedback to startups not selected for Phase 2.
  4. The Company reserves the right to adjust the number of startups selected for Phase 2 at any time based on program needs, quality of applicants, or other factors at its discretion.

4.7. No Guarantee of Funding or Investment.

  1. Neither the Company nor any of its Partners, including venture capital firms participating in the Program, guarantee any funding, investment, or financial outcome for startups participating in the Program.
  2. While the Program aims to facilitate connections between Eligible Startups and potential investors, the Company makes no representations or warranties regarding the likelihood of securing investment as a result of participation in the Program.
  3. VC Connections, investor introductions, office hours, and similar Program activities are offered on a best-effort basis and are intended solely to create networking opportunities. Any investment decisions remain at the sole discretion of the respective investors.
  4. Eligible Startups acknowledge that securing investment is dependent on numerous factors beyond the Company's control, including but not limited to market conditions, investor preferences, and the startup's own business performance.
  5. The Company bears no liability for any startup's failure to secure funding or investment following participation in the Program.