Rules of participation Baking the Future Challenge

 

Organizer

Baking the Future Challenge 2019 is organised by Europastry S.A. – hereinafter referred to as Europastry –and managed by Eatable Adventures, S.L. 

Further information 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 companies in the sector of frozen doughs for bread, cakes, pastries and snacks, thanks to its ability to combine the traditional processes of master bakers with state-of-the-art technology to take the world of bread bakery to the next level.

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

This year, Europastry is launching the Baking the Future Challenge with the aim of identifying innovative, specific and feasible solutions generated by start-ups at global scale, capable of addressing the challenges established by the company.

Baking the Future Challenge 2019 is divided into the following stages:

Stage 1 – Call for projects 

Stage 2 – Evaluation and selection of projects 

Stage 3 – 'Baking the Future Challenge 2019' event

Who is this call for projects aimed at? 

Start-ups with commercially-validated solutions or products with market traction and capable of addressing the challenges raised, developing their value proposals in the same business area as Europastry and adding scalable business models that are unequalled in the market.

Main areas of interest  

Baking the Future Challenge 2019, with its firm commitment to innovation in the Food segment of the industry, raises the following challenges, mainly focused on 3 areas:

1.    Technology focused on improving affordability to bread by final consumer: technological solutions in the field of e-commerce platforms and retail optimization.

2.    Technology applied to improving the consumption experience: technological solutions aimed at improving traceability, as well as finishing, promoting and making available the product, both through Retail and at home. Particular stress is laid on logistics, packaging and appropriate product conservation throughout the entire supply chain.

Although Baking the Future Challenge 2019 is, to a large extent, based on the issues referred to above, some additional products or services could also be considered, including those relating to:

3.   Product: new products, including new ingredients and formats adapted to new types of consumers and specific needs.

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.

Participation process and project selection

All participating start-ups must fill out the Baking the Future Challenge 2019 form on the specific site bakingthefuture.com where they may officially present their project.  Projects will be evaluated as they are received.   

The evaluation criteria to be applied are as follows:    

Innovation criteria as regards the product or service

  • Value proposal

  • Level of innovation and differentiation of the business model of the relevant product or service with respect to current competition  

  • Application of technology, intellectual property and patents 

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

  • Market potential: scalability and profitability 

  • Go-to-market strategy 

  • Social and financial impact of the project

KPI´s

  • Sales

  • Sales forecasts

  • Social media 

Europastry-specific criteria 

  • Adaptation to the company's processes 

  • Strategic adaptation and competitive edge 

  • ROI

  • Others

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 Baking the Future Challenge 2019.  The information requested in the participation form is available in the schedule to these rules of participation. 

Upon receipt of the project on bakingthefuture.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. Upon completion of the evaluation stage, notice of the final project selection shall be given individually.

What does Baking the Future Challenge 2019 entail?  

 The first stage will be the Call for Projects for Baking the Future Challenge 2019, to be published on the 1st of June 2019. Projects will be received up to the 30th of June, 2019. However, if necessary, the period of receipt may be extended by up to another 15 days.

At the second stagebetween the 1st and the 29th of July, 2019the projects received will be evaluated. This evaluation will be carried out by an Evaluation Committee, made up of a team appointed by Europastry and a team from Eatable Adventures.

The Evaluation Committee is made up of the following members:

From Europastry

  • Jordi Gallés, Executive President 

  • Daniel Calvo, Commercial General Director

  • Marta Cortés, Marketing Manager

  • Jordi Fabregat, Operations Manager

  • Jordi Caballero, R+D Manager Bread

  • Alberto Alonso, R+D Manager Pastries

From Eatable Adventures

  • José Luis Cabañero, CEO

  • Mila Valcárcel, Managing Partner

  • Itziar Ortega, Head of Corporate Programs

Up to 10 projects will be short-listed. Notice of the projects selected will be personally given between week starting 19th of August.

At the third stage, during the week commencing on the 16th of September, 2019, the final event will take place: Baking the Future Challenge 2019 in Barcelona, in which the short-listed companies, in a number not exceeding 10, will personally defend their solution or service before the company's managers.

This event will be held at the Cereal headquarters of Europastry and will take an entire day (from 9am to 6pm). 

The event will unfold as follows:

  • Welcome

  • Workshop between the finalists and the Evaluation Committee to review and improve elevator pitches.

  • Pitch presentation to the Evaluation Committee

  • Notice of the winning project or projects

One winner and two runners-up will be selected among the short-listed projects. They will have the opportunity to obtain the following awards, depending on the nature of the product or service presented:

  • Design partner

In the case of products: access to Europastry's R+D+i department for two months, to develop, test and manufacture the product. 

In the case of technology: collaboration with the engineering team of the R+D+i department in developing the adaptation of the technological solution to Europastry's needs. 

  • 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.

  •  Potential integration into the company

Europastry reserves the preferential right to acquire the product or service in order to add the same to its current portfolio.

  • Access to investment 

On the part of Europastry: Europastry reserves the right to invest an amount not exceeding € 100,000 in the winning start-up, and also in the two runners-up. On the part of Eatable Adventures: Eatable Adventures reserves the right to provide the winner and the two runners-up with direct access to the Food Business Angels network and the possibility of reaching co-investment agreements. 

Given the extensive scope of this Challenge and the different types of solutions that may be proposed, the awards will be adapted to the products or services of the winning start-ups and also to the resources available to Europastry. Europastry reserves the right to declare the Challenge 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.

Conditions for participation in Baking the Future Challenge 2019

All participating start-ups must be legally incorporated and be up-to-date with their tax and social security obligations. The representative of each start-up must be an individual of legal age who has the capacity to undertake legal obligations. All participating start-ups must provide evidence that their product or solution is currently available on the market and is commercially proven, with their customer traction and proven sale.

(*) Dates of the Baking the Future Challenge 2019

  • Period for receiving projects. From the 1st to the 30thof June, 2019, with an additional 15 days if required.

  • Evaluation of the projects received. From the 1st to the 29th of July, 2019.

  • Individual notice to the short-listed start-ups. From the 30th of July to the 8th of August, 2019.

  • Baking the Future Challenge 2019 Event. Week of the 16th of September, 2019.

(*) 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 Baking the Future Challenge 2019.

Reserves and restrictions

When filling out the registration form, you expressly accept your registration in Baking the Future Challenge 2019 and consent to the information submitted in this form being reviewed by Europastry

Pursuant to the rules of participation in Baking the Future Challenge 2019, 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 Baking the Future Challenge 2019, the participating projects or companies expressly accept that Europastry may use their name when communicating the short-listed companies with no obligation to provide them with any remuneration in this respect. In addition, all companies registering to participate in Baking the Future Challenge 2019 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, commercialization, 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 Baking the Future Challenge 2019 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 Baking the Future Challenge 2019, in which event the participating project or company will have no claim whatsoever against Europastry.

All travel, accommodation and subsistence expenses that may be incurred in connection with the activities concerning Baking the Future Challenge 2019will be borne by the participating projects or companies.

Consent and data protection

When filling out the participation form, you expressly accept your registration in Baking the Future Challenge 2019 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 Baking the Future Challenge 2019. 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 Baking the Future Challenge 2019 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. C Planta 4, 08174, PARC.OFIC.SANT CUGAT NORD, Sant Cugat del Vallés, and with tax identification code number A-58695032, enter in the Commerical Register of Barcelona, 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 “Baking the Future Challenge 2019”, 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 'Baking the Future Challenge 2019' form”.

Time of processing: Europastry shall store your personal data only while “Baking the Future Challenge 2019” 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 “Baking the Future Challenge 2019”, 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 e-mail 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 with retro-active effect. In either case, the data subject must provide proof of identity. 

Recipients 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 fulfil 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 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. 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 by law, 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.

Frequently asked questions

1.- What is the cost of participating in Baking the Future Challenge 2019?

Participation is totally free of charge.

2.- Is my original product or service protected?

The confidentiality concerning the projects received, whether they are selected or not, is fully guaranteed. The information received through the participation form will only be shared with the members of the Evaluation Committee.

3.- I have doubts concerning the participation form. How can I reach you?

We are at your disposal on the following e-mail address challenge@bakingthefuture.com

Schedule

Information requested in the 'Baking the Future Challenge 2019' Form

  •  Contact Information

  • Name and surnames

  • Company

  • Position

  • E-mail

  • Contact telephone number

  • Postal address

  • Website

  • Social profiles 

On the project

1.  Definition of the project in one sentence

 2.  In which area would you preferably position your project? Please select the field which best describes your project

  • Technology focused on improving affordability to bread by final consumer: technological solutions in the field of e-commerce platforms and retail optimisation. 

  •  Technology applied to improving the consumption experience: technological solutions aimed at improving traceability, as well as finishing, promoting and making available the product, both through Retail and at home. Particular stress is laid on logistics, packaging and appropriate product conservation throughout the entire supply chain.  

  •  Product: new products, including new ingredients and formats adapted to new types of consumers and specific needs.

 3.  Please provide a detailed description of the product, service or technology you propose as a solution and of the need it addresses

  •  What is your target market? What is the current size of the market?

  • Who are your competitors?

  • What makes your solution different? What is its competitive edge?

  • What is its market benchmark (if any)?

  • Is it scalable? 

  • Can your solution be internationalized? 

 4.  In addition, please send us a video (not exceeding 3 minutes) describing your product or service

On the company

1.  Year of incorporation 

2.  Country in which its registered office is located 

 3.  Main shareholders 

 4.  Investment received to date

 5.  Number of people that currently make up the team

 6.  Are the founding members fully dedicated to the company? 

 7.  Profiles of the founders and of the key members of the team

  • Add the Linkedin profile of each of them 

8.  Sales in 2018 

  • Lower than € 25,000 

  • Between € 25,001 and € 100,000

  • Between € 100,001 and € 500,000

  • Between € 500,001 and € 1,000,000

  • Higher than € 1,000,000 

9.  Sales forecast for 2019 

  • Lower than € 25,000 

  • Between € 25,001 and € 100,000

  • Between € 100,001 and € 500,000

  • Between € 500,001 and € 1,000,000

  • Higher than € 1,000,000

  10.In which countries are you carrying out commercial activities? 

On Baking the Future Challenge 2019

1.  How do you think your product/ service / technology may solve the challenges posed by Baking the Future Challenge 2019?

 2.  If you are the winner, what value do you expect Europastry to add to your project?

 3.  Why should we select your start-up?

 4.  Use this space to provide additional information on your solution: main clients, awards received, previous experience in the same sector, etc..