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RULES OF PARTICIPATION

CEREAL Baking the Future 2021

Europastry

Organiser

Bakingthe Future 2021 is organised by Europastry S.A. –hereinafter referred to as Europastry

Furtherinformation on Europastry is available on europastry.com/

Introduction

Europastry is a leading company producing frozen doughs for bakery products. Capitalising on its 30 years'history, Europastry has become one of the most cutting-edge, expert companiesin the sector of frozen doughs for bread, cakes, pastries and snacks, thanks toits ability to combine the traditional processes of master bakers withstate-of-the-art technology to take the world of bread bakery to the next level.

Nowadays, Europastry has more than4,500 employees, 22 production plants and 4 R+D centres, and operates in morethan 60 markets worldwide. In 2018, the company reached a sales turnover of 729million Euros.

This year,Europastry is launching the CEREALBaking the Future 2021 with the aim of identifying innovative, specific andfeasible solutions generated by start-ups at global scale, capable ofaddressing the challenges established by the company.

CEREAL Baking the Future 2021 is divided into the following stages:
Stage1 – Call for projects
Stage2 – Evaluation and selection of projects
Stage3 – CEREAL Baking the Future 2021 Programme
Stage4 – Demo Day

Who is this call for projects aimed at?

Start-ups andprojects with commercially-validated solutions or products capable ofaddressing the challenges raised, developing their value proposals in the samebusiness area as Europastry and adding scalable business models that areunequalled in the market.

Main areas of interest

CEREAL Baking the Future 2021, with its firm commitment to innovation in the Food segment of the industry, raises the following challenges, mainly focused on 4 areas:

1.

Focus on new formulation and finished products already in the market on ingredients or functional products focused on well-being and improvements in quality of life in the bread and pastry spectrum.

2.

New technologies, new ingredients or new processes focused on improving and enhancing the flavor and texture attributes of bread and bakery products.

3.

Focus on new technologies and /or products aimed to optimize the reduction or elimination of trans fats and sugar and clean-label ingredients proposals as well as pursue a sustainable packaging with direct application to the bakery industry.

4.

New technologies focus on the re-use of bakery production leftovers to create     new ingredients or subproducts.

Although the [Name of Programme]  is, to a largee xtent, based on the issues referred to above, some additional products or services could also be considered, including those relating to:

5.

Consumer Experience:
Business models enabling direct toconsumer channels, gathering customer information and consumption behaviour:artisan bakery, personalised products, etc.

The projects received must take into account the characteristics of the company as regards the potential implementation of the product or service within Europastry's structure.

The Call for Projects is launched at international level and the projects must be capable of being implemented in Spain and in Europe at an early stage.
The CEREAL Baking the Future 2021 is a combined both online and offline programme. Therefore some of the sessions will be held in the CEREAL Europastry’s premises in Barcelona.

Participation process and project selection

Start-ups andprojects with commercially-validated solutions or products capable ofaddressing the challenges raised, developing their value proposals in the samebusiness area as Europastry and adding scalable business models that areunequalled in the market.

The evaluation criteria to be applied are as follows:

  • Innovation criteria as regards the product or service
    Application of technology, intellectual property and patents
    Level of innovation and differentiation of the business model of the relevant product or service with respect to current competition
  •  Criteria concerning the team
    Clear skills and abilities to ensure the success of the project Background of the team
    Social skills to develop a contact network
    Knowledge of the industry and/or the scope of the project
    Commitment and dedication of the team towards the project
  • Business criteria
    Level of development of the startup
    Relevant value proposition
    Market potential: scalability and profitability
    Go-to-market strategy
    Metrics attained
    International scope
  • Business criteria
    Level of development of the startup
    Relevant value proposition
    Market potential: scalability and profitability
    Go-to-market strategy
    Metrics attained
    International scope
  • Europastry-specific criteria
    Fit with the company
    Adaptation to the company's processes
    Strategic adaptation and competitive edge
    Added value to Europastry

It is very important that the start-ups demonstrate, in the project presented, the market potential of their businesses and the reasons why they have decided to take part in CEREAL Baking the Future 2021.

Upon receipt of the project on bakingfuture.com, the latter will be analysed by the relevant Evaluation Committee,made up of a team whose members are specially-appointed Europastry's managers.

Should any further information be required, the company will be contacted so that it may provide the same.

What does CEREAL Baking the Future 2021 entail?

The first stage will be the Call for Projects for CEREAL Baking the Future 2021, to be published on the week of 5tht of July 2021. Projects will be received up to the 5th of September, 2021.
However, if necessary, the period of receipt may be extended by up to another 15 days.

At the second stage, between the 5th and the 19th of September, 2021, the projects received will be evaluated. This evaluation will be carried out by an Evaluation Committee, made up of a team appointed by Europastry.

Up to a maximum of 5 projects will be short-listed. Notice of the projects selected will be personally given the week of 19th September 2021.

At the third stage, during the week commencing on the 26th of September, 2019, the shall commence at the CEREAL headquarters of Europastry at Barcelona. As the benefits from being selected for CEREAL Baking the Future 2021] the projects and start-up(s) will have the opportunity to access:

●       Tailor-madeworking sessions

●       Working space at CEREAL premises in Barcelona

●       Specialized mentoring sessions with highly-qualified CEREAL team members in areas related to bakery (R+D, commercial, marketing, etc.)

●       Access to Europastry’s R+D+i department to develop, test and run the product using the more cutting-edge technologies to improve the selected product or solution moving from lab scale to pilot-scale at CEREAL facilities

●       Europastry’s smart capital in concept improvement at high tech labs

●       Access to sensorial testing

●       Inspirational sessions and workshops

●       Design of Business Plans

●       Pitch template and pitch perfection

●       Preparation sessions for the Demo Day

●       Communication Plan


The fourth stage will be the Demo Day where the startups shall pitch the deck to highly-qualified hand-picked business angels and private investors.

Additionally, Europastry will award the selected start-up(s) with the following benefits:

●       Access to investment
Europastry reserves the right to invest at the start-up(s) or technological development an outstanding amount to boost commercial or research phase according to Europastry goals for each of the cases.

●       Preferential agreements
Europastry reserves the right to reach preferential agreements with the start-up selected,establishing preferential terms and conditions in terms of production, commercialisation and retail for a specific period of time and geography.

Given the extensive scope of this scouting and the different types of solutions that maybe proposed, the awards will be adapted to the products or services of the selected projects and start-ups and also to the resources available to Europastry in the time of the programme.

Europastry reserves the right to declare the final selection null and void if it deems expedient at its sole discretion, in which event the participating start-ups will not be entitled to claim any damages whatsoever.

(*) Dates of the CEREAL Baking the Future 2021

Period for receiving projects. From the week of 5th July the 5th of September, 2021 with an additional 15 days if required.
Evaluation of the projects received. From 6th September to 19th September 2021
Individual notice to the short-listed start-ups. Week of 20th September 2021
Programme Kickoff: Week of the 26th of September, 2021.
Demo Day: To be determined. 

(*)Europastry reserves the right to modify these dates without prior notice or justification.

In the event of modification of any of these dates, prior notice thereof will be given to the companies participating in CEREAL Baking the Future 2021.

Reserves and restrictions

When filling out the registration form, you expressly accept your registration in CEREAL Baking the Future 2021 and consent to the information submitted in this form being reviewed by Europastry. 

Pursuant to the rules of participation in CEREAL Baking the Future 2021, the data provided must be accurate and comprehensive. Europastry assumes no liability for the accuracy of the data provided by participating projects or companies.
Europastry will assume no liability if, on account of an error in the data provided, it is not possible to contact the persons responsible for the participating projects or companies to inform them of the final selection. 

By registering in CEREAL Baking the Future 2021, the participating projects or companies expressly accept that Europastry may use their name when communicating with the short-listed companies with no obligation to provide them with any remuneration in this respect. 

In addition, all companies registering to participate in CEREAL Baking the Future 2021 expressly accept that Europastry may use their image, name, logo or commercial name, by any means whatsoever and solely for corporate, advertising or promotional purposes, with no time or territorial restrictions and without these companies being entitled to any type of remuneration in this respect.

Europastry reserves the preferential right to negotiate with the start-up(s), without any obligation to reach an agreement, in respect of the acquisition, commercialisation, license, distribution and any kind of exploitation of the outcomes, the products or the services of the project during the term of the collaboration and within a period of one year following termination thereof. 

The winning start-up(s) and Europastry must sign an agreement formally regulating their relationship throughout the implementation stage.  

The start-ups selected to participate in CEREAL Baking the Future 2021 must meet the conditions for participation established. Failure by any start-up to comply with these obligations will entitle Europastry to cancel, at its sole discretion, its participation in CEREAL Baking the Future 2021, in which event the participating project or company will have no claim whatsoever against Europastry. 

For those startups attending the programme remotely due to the nature of the solution provided nature and only when Europastry might require the presence in the CEREAL premises, the travel, accommodation and subsistence expenses that may be incurred in connection with the activities concerning CEREAL Baking the Future 2021 in Barcelona will be borne Europastry.

For Europastry to bear the mentioned costs, the startups must make a request prior to the travel to be approved by the dedicated CEREAL team.

Consent and data protection

When filling out the participation form, you expressly accept your registration in [CEREAL Baking the Future 20212021 and consent to the information submitted in this form being reviewed by Europastry S. A., with registered office at Plaza Xavier Cugat nº2 Edif. C Planta 4, 08174, PARC.OFIC. SANT CUGAT NORD, Sant Cugat del Vallés, and with tax identification code number A-58695032, solely for purposes relating to CEREAL Baking the Future 2021. You also accept the sending of newsletters and updates for which you may be registered and the sending of Future commercial communications that may be of interest to you. The information submitted will only be processed while CEREAL Baking the Future 2021 continues.Your rights of access, rectification, erasure, cancellation, opposition, restriction, portability and withdrawal of consent, as well as the right to be forgotten and the right to object to the Supervisory Authority, as set forth in the General Data Protection Regulation (GDPR) and in the Organic Act on Protection of Data and Guarantee for Digital Rights (LOPD), may be exercised as established by law by sending a communication, by post or by e-mail, to Europastry S.A contact@europastry.com

The information collected shall not be assigned to any third party, other than to comply with any legal or judicial obligation.In accordance with the GDPR and the LOPD, you are hereby informed that the data provided by you will be stored in Europastry's automated files and that this data will be processed by this company solely for the purposes specified above. In this respect, you are provided with the following basic information as regards data processing:

●     Basic information on the processing of personal data: 

Data controller:
Europastry S.A., with registered office at Plaza Xavier Cugat nº 2 Edif. CPlanta 4, 08174, PARC.OFIC.SANT CUGAT NORD, Sant Cugat del Vallés, and with tax identification code number A-58695032, enter in the Commercial Register ofBarcelona, Volume 24.789, Page B -76.007, record 15. 

Purpose of the Processing: The purpose of processing your data is to ensure your registration and participation in the call for projects for CEREAL Baking the Future 2021 as well as to send you the newsletter and/or commercial communications/promotions, or to send you the information requested through the relevant forms. Europastry shall not create profiles of users. The type of data processed is that appearing in the Schedule “Information requested in the CEREAL Baking the Future 2021.

Timeof processing: Europastry shall store your personal data only while CEREAL Baking the Future 2021 continues. Thereafter, the data shall be blocked and placed at the disposal of courts and other authorities in connection with potential liabilities arising from the processing of the data,and solely until these liabilities are statute-barred.

Legal basis for processing: The legal basis for processing your personal data is your participation in the call for projects for CEREAL Baking the Future 2021, as well as your access to the newsletter or to further information on contents, as provided by Europastry, in respect of which you must give your consent freely and unambiguously, by a clear affirmative act consisting of reading and accepting the form.

Consent: By ticking the appropriate box in the data collection form, you give your unambiguous consent to Europastry being able to use your personal data for the purposes specified above.

However, you may withdraw, upon justified request, your consent to the processing of the personal data provided. To exercise this right, you should send an email to the following address contact@europastry.com, or send a letter to Europastry S.A., Plaza Xavier Cugat nº 2 Edif. C Planta 4, 08174, PARC.OFIC.SANT CUGAT NORD, Sant Cugat del Vallés, specifying “Datos de Carácter Personal” (Personal Data) as the reference. Consent shall not be given withretro-active effect. In either case, the data subject must provide proof of identity.

Recipient of the disclosure of your personal data: The data provided shall not be disclosed to any third-party companies, other than in connection with the collaborations required to fulfill the purposes specified above. No international transfers are envisaged.

Rights: You are hereby informed by Europastry that you may exercise at any time your rights of access, rectification,erasure, restriction, portability and/or opposition in respect of the data provided. In this event, you should submit your request to the data controller,by sending an e-mail to the address contact@europastry.com. You may also exercise the aforesaid rights by sending a letter to Europastry S.A., Plaza Xavier Cugat nº2 Edif. C Planta 4, 08174, PARC.OFIC.SANT CUGAT NORD, Sant Cugat del Vallés,specifying “Datos de Carácter Personal” (Personal Data) as the reference.

In either case, proof of identity must be provided.  

Security measures: Europastry, in turn, undertakes to process the data provided by you in a strictly confidential manner and to use all security measures established bylaw, in order to avoid any unauthorised access thereto or processing thereof. Notwithstanding this, Europastry may disclose to the relevant public authorities such personal data and such additional information as Europastry may possess through its IT systems and may be requested to Europastry, in accordance with any laws and regulations applicable.