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Terms and Conditions

Habib Bank Limited (“HBL”) is hosting a contest with the aim to facilitate the development of innovative “FinTech” and banking related solutions that address one or more of the challenges as set out below. The following terms and conditions (“Terms”) shall apply to you (“you”, “your(s)”, the “Contestant”) with respect to your participation in the HBL Fintech Innovation Challenge (“Challenge”), and shall be deemed as a valid and binding agreement between you and HBL. By participating in the Challenge, you agree to be bound by, and are deemed to have read, understood, and accepted these Terms.

The Challenge shall be open to all innovators, entreprenuers, and developers in the technological field, and shall consist of the following two main phases:
  • Phase one: Online application to be completed and submitted by the Contestant which must include a short video/presentation on the proposed solution and a pitch deck.
  • Phase two: A 2-day final showcase event.
Following conclusion of the Challenge, HBL may, at its sole discretion enter into further agreements/arrangements with any Contestant, to further develop, collaborate, and/or purchase any ideas, solutions, proposals, and/or structures presented by such Contestant, on such terms and conditions as shall be mutually agreed between HBL and said Contestant. Selection of a Contestant into each of the two phases mentioned above, shall be at HBL’s sole and absolute discretion, subject to established terms and conditions and judging rules.

Eligibility & Participation

An entry to the Challenge can be made by a singular Contestant, or a team of Contestants as a team(“Team”). Each individual Contestant in a Team submitting a singular entry to the Challenge, shall be subject to these Terms, jointly and severally. Each Team can submit solutions for up to 3 different themes in the Challenge, but each Team shall be limited to only one solution entry per theme. Top Teams will be selected to progress for the Phase two of the Challenge, which is the 2-day event (“Event”), which will be held at the HBL head office in Habib Bank Plaza, I.I. Chundrigar Road, Karachi on a date falling in May 2017.

An individual Contestant shall not belong to multiple Team. A Contestant shall not switch from one Team to another once an application for the Contestant’s first Team has been submitted. HBL shall cover travel and accommodation costs for only 1 to 2 Contestants from each Team that has been selected by HBL for participation in the Event in Karachi.

To participate in the Challenge, Teams must submit their application through the webpage at on or before 11:59 P.M. Pakistan Standard Time on 7th May, 2017. HBL reserves the right to disqualify any application and/or Team if that Team, or any individual Contestant of that Team does not comply with any or all of these Terms. HBL reserves the right to establish further rules, terms and conditions regarding the Challenge which will be published on the competition website. HBL decision in all aspects will be final and shall not be challenged.


Each application, whether submitted by a Team or a singular Contestant, must consist of original ideas, solutions, structures that have been developed solely by the corresponding Contestant(s) only. Participation by the Contestant hereby warrants that the corresponding application contains only the original work of that Contestant and/or Team, and does not and will not infringe the intellectual property or proprietary rights of any third party, including, without limitation, any third-party patents, copyrights or trademarks.

Contestant hereby grants HBL the irrevoccable license to use the contents of the Contestant’s application and subsequent entry into the Challenge, for the purpose of marketing, promoting, and conducting the Challenge, in whatever manner HBL deems fit. Contestant hereby agrees not to initiate, back, maintain or sanction any action, claim or lawsuit against HBL or any other person, on the grounds that any use of a Contestant’s application submission, infringes any of Contestant’s rights as creator of the submission, including, without limitation, trademark rights and copyrights. Any use of the Contestant’s application and subsequent entry into the Challenge that HBL wishes to use after the Challenge has been completed, shall be in such manner and on such terms as shall be mutually agreed between that Contestant and HBL.

Scoring of Entries

A panel of experts shall be responsible for judging applications from Contestants and Teams to determine the winner(s) of the Challenge. The judging panel shall include members of HBL’s management team. The panel shall be responsible for the assessment, grading and selection of applications of Contestants and Teams that will progress to the Event.
Applications will be shortlisted based on the following judging metrics:
  • Solution proposed
  • User experience
  • Practicality of implementation
  • Functionality of proposed solution
  • Innovation of proposed solution
  • Commercial prospects of proposed solution
Shortlisted Contestants and Teams will be contacted through the email address provided in the applications for invitation to and participation in the Event.

Ownership rights

All intellectual property rights in the ideas and applications of a Contestant shall remain vested with the Contestant who owns them. Any third party intellectual property rights shall remain vested in the third party or third parties who own them.

Any third party intellectual property must be clearly identified by the Contestants/Teams in their application, as well as the applicable terms of license and other details relating to use of same.

Contestant shall indemnify and hold HBL harmless for all claims, losses, expenses, damages, costs, liabilities (including reasonable attorney fees) incurred by or threatened against HBL by any third party for any infringement, improper, or unauthorized use of any third party intellectual property arising from the Contestant or the Contestant’s Team’s application to participate in the Challenge.

HBL accepts no liability for any disagreement among Team members regarding ownership of any Intellectual Property Rights contained in any entry including, without limitation, the winning entry or for any inaccurate or incorrect information supplied or relied upon by any Contestant/Team during the Challenge.


HBL has been enabling Pakistanis to dream for over 75 years, and one of HBL’s goals for this platform is to use it to support and showcase Pakistani start-ups and innovative ideas. For this reason, members of the selected Teams agree to provide and/or allow to have taken, photographs/videos/audio recordings for marketing/promotional purposes of the Challenge and to make themselves reasonably available to HBL for the purposes of promotion and publicity of both their start-ups and the Challenge for a period of twelve (12) months following the end of the Event. The copyright of all publicity materials generated by this Event shall lie with HBL and permission must be sought before it is used by any Contestant for any purpose.


Winning Team(s)/Contestant(s) may receive cash and non-cash prizes, which will be awarded by a jury comprising of HBL’s management team.

Post-competition Opportunities to Partner with HBL

After the competition, HBL may, at its sole discretion, select the most promising Team(s)/Contestant(s) and give them a chance to explore a set of opportunities through partnerships/alliances/collaboration with HBL. These opportunities which will be at the discretion of HBL include the following:
  • Funding: HBL may invest in selected start-ups/products with immense prospects. The terms of such investment shall be negotiated separately.
  • Service provider partnerships: start-ups may be selected by HBL to become a service partner to HBL, subject to HBL’s procurement and vendor policies.
  • The Team(s)/Contestant(s) who are selected as service providers or for any further collaboration must give HBL the right of first refusal before proposing new and existing services to any of HBL’s direct or indirect competitors. HBL withholds the right to request its service providers for a sales freeze period before services are fully implemented and rolled out at HBL.