SECTION ONE: CONDITIONS OF APPLICATION

 

1.1. Objectives and Definition

 

Protechting is a dynamic open innovation program collaboratively led by Fosun, Fidelidade, and Hospital da Luz Learning Health, and powered by Fábrica de Startups. The program is designed to support high-potential startups in the insurance and healthtech sectors, as well as tech enablers — startups with emerging technologies that can be adapted to these industries. 

Over several weeks, Protechting engages these startups in a structured innovation journey, assisting them in developing and piloting their solutions in collaboration with Fidelidade and Hospital da Luz Learning Health.

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The objectives outlined for this program are designed to ensure that the program delivers maximum value to both the participating startups and the corporate partners, Fidelidade and Hospital da Luz Learning Health.

 

1.2 Eligibility Criteria

 

Participation in Protechting requires the submission of a team application along with a business idea. In order to be eligible to apply for the Program, you must:

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• Be incorporated (in any country), and provide proof of that registration if requested by the program members;

• Have a prototype ready (not idea-stage);

• Offer a product or service solution in at least one of the following recruitment categories:

  • General Insurance

  • Property and Home Living

  • Cybersecurity

  • Mobility

  • Sharing Economy

  • Technology

  • Wellness and Lifestyle

  • Disease Detection

  • New Treatments

  • Patient Care

  • Health Management

  • Sustainability – Environmental, Social or Governance

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Note: Startups with business models that are based solely on consulting are not eligible to participate on the program

 

1.3 Selection in the Program and Indicative Schedule

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Applications meeting the minimum criteria outlined in these terms and conditions will be reviewed by Protechting Team for potential participation in the Program. Protechting Team will contact you if more information or clarifications are needed about application materials at any stage during the selection process. Based on application materials, startups will be selected by Protechting Team for participation in the Program

The proposed schedule for application and selection process is as follows:

​Applications open: September 17th 2024

Application closing time: November 24th 2024

 

This schedule may be subject to alterations at the Protechting Team discretion.
All references to time in these Terms and Conditions are to European Central Time (CET).

 

1.4 Selection Criteria and Evaluation

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The evaluation of applications includes the following criteria: 

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1. Team - Credible team, quality CVs, relevant qualifications/experience;

2. Product – Clearly innovative or disruptive, differentiated from existing solutions, scalable, exhibits sustainable competitive advantage potential;

3. Market – Large addressable market to facilitate significant sales growth;

4. Business Model – viable business model based on credit commercial and economic assumptions;

5. Program Fit – Fit with the program and the Protechting Team challenges.

 

1.5 Notifications

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You will be notified by e-mail of any decision made with respect to your application promptly. There is no obligation for Protechting Team to provide reasons for acceptance or rejection of applications.

 

1.6 Conflict of Interest

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You must identify and notify Protechting Team of any actual, potential or perceived conflict of interest that you have in relation to this application or your participation in the Program. If you fail to notify, or you are unable or unwilling to resolve the conflict as required by Protechting Team, your application may be excluded from further consideration.

An existing commercial or legal relationship with a Protechting Team is not a conflict of interest but you should include details of the relationship in your application.

 

1.7 Confidentiality

You agree to provide Protechting Team information about your assets, business or other affairs for the purpose of:

 

• Applying to participate in the Program;

• Allowing Protechting Team to consider your application;

• Allowing one or more Program Members to identify and start separate discussions about potential commercial or legal relationships between you and the Program Member (Agreed Purpose).

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The Protechting Team agrees to keep all the information you provide us for the Agreed Purpose (Confidential Information). Confidential information will not be disclosed to anyone without your consent or as otherwise expressly permitted in these Terms and Conditions. The Program Members agree to use the confidential information only for the Agreed Purpose.

Protechting Team may disclose the Confidential Information to their respective directors, employees, and advisors for the Agreed Purpose, provided that such persons have first been made aware of the confidential nature of the Confidential Information and have agreed to comply with this confidentiality undertaking.

The obligations of confidentiality will continue for a period of 3 years from the closing time for applications.

 

1.8 Ownership of applications

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All applications become the property of the Protechting Team upon submission.

 

1.9 Intellectual Property Rights

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You grant each Program Member a license to copy, adapt, modify or do anything else necessary to all material contained in your application for the purposes of:

 

• evaluating and clarifying your application;

• if selected, your participation in the Program; and

• a Program Member considering potential commercial or legal relationships between you and the Program Member outside the scope of the Program.

You acknowledge that the management and protection of your intellectual property is your sole responsibility, both during the application phase and if selected as a participant, during your participation in the Program.

 

SECTION TWO: CONDITIONS OF PARTICIPATION IN THE PROGRAM

 

2.1 Benefits for successful applicants

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Participants will be able to partake in the Program and interact with the program partners to develop collaboration opportunities.

During the program or in the end, you may receive the opportunity to engage with the partners of the Program and/or receive strategic investment by one or more of the Program Members, however, this opportunity is not guaranteed. Any commercial relationships or opportunities you are offered are subject to separate negotiations and agreements with the relevant Program Member and do not form part of the Program.

 

2.2 Participation in the program

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If you are selected to participate in the Program your startup must:

 

• Give consent for your company name to be associated with this Program and used by Program Members to promote the Program or themselves;

• Share requested information about your company and products with all Program Members. Confidential Information will be protected by the confidentiality undertaking in section one and data protection processes explained in section three;

• Commit to scheduling and attending periodic inter-program calls with peer Participants in the Program and with mentors in the Program;

• Provide to all Program Members the details of relationships entered into with individual Program Members as a result of the Program, and output and results of such relationships. This information is to be provided during and after the Program.

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2.3 Program Structure

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A) Applications 
Teams must consist of at least two members, with one member being a founder.
The teams must demonstrate their effort in a whole, as well as their experience, technical and management skills necessary to develop their business with the Program Members.
Applications will be considered by Protechting Team only after submission of the application form.

B) Bootcamps
Bootcamps will consist of workshops, lessons learned presentations, mentorship sessions, and guest speaker sessions.
Bootcamps follow Fábrica de Startups’ methodology: FastStart.
Lessons Learned are presentations made by the teams on their business model validation and adaptation report of the work that has been carried out during the previous bootcamp.
Mentorship are sessions, where teams are accompanied by experienced mentors that will meet with the teams during the program.

Teams must dedicate sufficient time to work on their projects outside of bootcamp hours.

C) Immersion Day

The Immersion Day is a in-person event in Lisbon - Portugal,  designed to foster networking opportunities among program partners, members, and mentors, ensuring full participation of all teams.

Startups participating in the Immersion Day will receive financial support to help cover travel and accommodation expenses.
Expense Support Details:

 

• International Teams: A reimbursement of up to €500 is available for teams traveling from outside Portugal.

• National Teams: A reimbursement of up to €150 is available for teams traveling from within Portugal.

Reimbursement Conditions:

• The reimbursement is offered per startup participating in the Immersion Day.

• This financial support is solely for expenses related to attending the event in Lisbon.

• The reimbursement is non-transferable and can only be claimed by a member of the startup attending the Immersion Day.

• Expenses exceeding the limits (€500 for international teams and €150 for national teams) will not be covered and must be borne by the participant.

• The program reserves the right to request additional documentation or clarification of expenses before processing the reimbursement.

• Participants must submit an invoice addressed to "FABSTART - Fábrica de Startups, SA" (Av. Marginal - Ed. Parque Oceano, Loja 8, 2780-337 Oeiras, VAT number: 510138110) along with proof of IBAN, within 10 days of the Immersion Day to the email address talk@fabstart.pt 

D) Demo Day
The Demo Day is an event where participating startups will have the opportunity to present their projects to a curated audience of investors, industry leaders, and potential partners. It serves as a platform for startups to showcase their progress and achievements made during the program.

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E) Roadshow to China
The Roadshow to China is an opportunity for selected startups to explore business expansion and partnership possibilities in the Chinese market. This initiative aims to provide insights into market dynamics and facilitate connections with key stakeholders. Participation in the roadshow will be by invitation, and additional details, including logistics and support, will be communicated as the project progresses.
 

2.4 Termination and variations

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Protechting Team reserves in the right to terminate a Participants involvement in the Program at their sole discretion:

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• If participants breach these Terms and Conditions; 

• If participants  engage in inappropriate (as determined by Program Members) or illegal behaviors or are disruptive to overall group cohesion.

Participants will be given prior notice before they are excluded from the Program.
Protechting Team may also terminate or make changes to the Program, in each case for any reason at any time. Participants will be given notice of such termination or changes.

 

2.5 Acknowledgment and waiver

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Participants acknowledge that their participation in the Program is at their sole risk. Participants may withdraw from the Program at any time or make alternative arrangements for travel, accommodation or meals (at their cost).

 

Program Members will have no liability to Participants for any loss or damage arising in connection with the Program, including personal injury, property damage or economic loss (except in relation to a breach of the confidentiality undertaking in section “One”. Program Members must not make a claim against any Program Member for any such loss or damage.

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SECTION THREE: CONDITIONS OF APPLICATION

To know more about Data Protection and how we manage your data, please read our Privacy Policy.

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SECTION FOUR: DEFINITIONS AND INTERPRETATION

Unless the context requires otherwise, the following terms have the following meaning in these Terms and Conditions:

Participant mean: 

a startup that has been selected by the Protechting Team to participate in the Program.

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Program Members mean:

 

• Fidelidade

• Fosun Foundation

• Hospital da Luz Learning Health

• Fábrica de Startups

• Fintech House

 
Program Members may be described as us, we, or our throughout these Terms and Conditions.