Investment agreement: summary of terms

1. What this document is

This document sets out the material terms of the investment. It is not an offer, a contract, or an undertaking to enter into one.

The full investment agreement is published by 30 April 2027 - before full proposals are due, and more than three weeks before the finale. This summary is published in advance so that an applicant can judge the nature of the commitment before applying.

2. Which prizes it applies to

These terms apply to the grand prize (₽50,000,000) and the track prizes (₽5,000,000, eight of them). Those prizes take the form of an investment.

The finalist grants (₽500,000) and the regional round grants (₽150,000) are not an investment, are not repayable, and carry no equity.

3. Instrument

The investment is made by one of two means, agreed with the project:

• equity on the terms of the project’s most recent completed funding round;
• a convertible note, converting at the next round on that round’s terms.

Where the project has no completed round, the convertible note applies. Valuation is not set unilaterally by the organiser.

4. Recipient

Investment is made into a legal entity registered in the project’s own country.

Where no entity exists when results are announced, the period for incorporating one is six months from the announcement. The organiser takes no part in that incorporation and acquires no additional rights through it.

5. Voluntary

Signing is voluntary. Declining the investment does not reverse the win, does not require repayment of grants already made, and is not grounds for revisiting the result.

Terms are disclosed in full before signature.

6. What the agreement does not contain

No right of first refusal over the project’s future funding rounds.

No right for the organiser to require participation in future rounds, and no preference over other investors.

No transfer of intellectual property rights.

No obligation as to where the project is registered, where it operates, or whether the team relocates.

7. Governance

The organiser does not take a board seat by virtue of the investment alone.

Investor information rights are set by the agreement and are limited to periodic reporting.

8. Language of this document

The Russian version of this document is the only one in force. The English version is provided as a reading aid, and where the two differ the Russian text applies.