The Post-BICTA Programme was introduced in September 2017. It serves as a platform to further improve and enhance the BICTA winning products and aimed at providing continuity and sustainability of BICTA participants and their inventions.
Under this programme participants will be guided by industry professionals from various background who will assist in facilitating the BICTA products towards commercialization.
BICTA participants winning above B$3000 in BICTA Prize will undergo Post-BICTA Programme where they are required to submit a Product Sustainability Plan (PSP) with specific target(s) to be achieved using the BICTA prize money.
Participants are required to utilize at least 50% of their BICTA prize for the purpose of Enhancing, Owning and/or Marketing the product.
To improve or upgrade the product which include but are not limited to equipment (hardware/software), R&D, QA & QC (tests, user trials), expert fees (consultant, programmer, designer) and etc.
To obtain Intellectual Property Rights to the invention which include but are not limited to application, search, examination, filing, expert fees (consultant, lawyer, engineer) and etc.
To obtain or improve sales of the product which include packaging, labelling, designing, advertising, networking and etc.
Participants shall provide Progress Reports as and when required by the Post-BICTA Business Development Committee (PBDC). The Progress Report shall contain Actual Progress against Planned Progress, Deviations to the Plan and measures taken to achieve Target.
The Plan has to be completed within six (6) months from the disbursement date of the prize.
1. Utilization of Prize
1.1. The Winner shall utilize a minimum of fifty per cent (50%) of their BICTA Prize for the purpose of enhancing, owning and/or marketing the product. A brief description of each item is outlined below:
a)Product Enhancement: to improve or upgrade the product which includes, but is not limited to, equipment (hardware/software), research and development, expert fees, quality assurance and quality control (tests and user trials), etc.
b)Product Ownership: to obtain Intellectual Property Rights to the invention which includes but is not limited to application, search, examination, filing, expert fees (consultants, lawyers, engineers), etc.
c)Product Marketing: to obtain or improve sales of the product which includes packaging, labelling, designing, advertising, networking, etc.
1.2. The Winner shall submit a Product Sustainability Plan (“the Plan”) that has a target to be achieved using the BICTA Prize. The Product Sustainability Plan template and example can be viewed here.
1.3. The Plan has to be completed within six (6) months from the disbursement date of the Prize.
1.4. The Winner shall provide a Progress Report as and when required by the BICTA Secretariat. The Progress Report shall contain the Actual Progress against the Planned Progress, any deviations to the Plan and measures taken to achieve the target. The Progress Report template can be viewed here.
2. Responsibilities of Winners
2.1. The Winner shall carry out the Plan diligently, professionally and in good faith; and must complete the Plan within the stipulated target date.
2.2. The Winner shall notify the BICTA Secretariat should any changes regarding the information provided arise. These changes include, but are not limited to, the Plan, the Progress Report(s), change of personnel, change of address, change of ownership, change of shareholdings, etc. Any changes must be notified to the BICTA Secretariat within forty-eight (48) hours.
2.3. The Winner shall attend meetings and comply with all administrative requirements required by the BICTA Secretariat.
2.4. The Winner shall record, keep and be ready to provide all original receipts and invoices of expenses to the BICTA Secretariat for verification purposes.
2.5. The Winner shall allow the BICTA Committee and Secretariat, the Post-BICTA Business Development Committee (PBDC), AITI or MTIC access to the progress of the Plan, and to make any enquiries or inspections as and when required.
2.6. The Winner will not represent whether orally or in writing, or use any name or logo, or do any act that may mislead the public or any third parties dealing with the Winner into thinking that the Winner is an agent, partner or joint venture of the BICTA Committee and Secretariat, PBDC, AITI or MTIC.
2.7. The Winner will immediately notify the BICTA Secretariat of any legal proceedings or claims, investigations or charges made by or against the Plan, the Winner or the Winner’s employees.
2.8. The Winner will immediately notify the BICTA Secretariat if the Winner is likely to stop operating, become insolvent or bankrupt, or in the event of an occurrence which threatens the credibility of the Winner.
2.9. The Winner shall not use the Prize for illegal or immoral purposes nor for any purpose that contravenes the laws of Brunei Darussalam and any other governing laws where the Plan is carried out.
2.10. The BICTA Committee and Secretariat, PBDC, AITI or MTIC is not liable for any losses, or costs incurred by the Winner.
2.11. The BICTA Secretariat can amend or add on to these terms and conditions from time to time as deemed necessary for the benefit of the Plan.
3. Events of Default
3.1. The following circumstances constitute an event of default, however the list is not exhaustive:
a. Failure to achieve the target within six (6) months according to the stipulated target date;
b. Failure to use the Prize for the purposes of the Plan as approved by the PBDC;
c. Dishonest, incorrect, misleading or fraudulent withholding or provision of information;
d. Anything in relation to the Plan which may affect the reputation of BICTA, AITI or MTIC;
e. Suspension of the Plan by the Winner, or if the Plan is not carried out in a diligent manner, or if the Winner becomes incapable of completing the agreed Plan, or if the Plan is unlikely to deliver its targets;
f. If it becomes unlawful for the Winner to continue the Plan for any reason; or
g. If upon careful evaluation, the PBDC, AITI or MTIC decides that it is no longer beneficial to continue with the Plan.
3.2. Events of default may result in the Winner paying back a percentage of the Prize. The percentage of repayment shall be proposed by the PBDC and approved by the BICTA Chairman.
3.3. The PBDC is entitled to full discretion to withhold, suspend, reduce or cancel the Prize if the Winner does not comply fully with the terms and conditions stipulated herein.