INTERNATIONAL QUALITY INSTITUTE – INCUBATOR APPLICATION AGREEMENT

Globally, only 1–2 out of every 1,000 projects applying to incubators reach the commercialization stage, and of these, the proportion that achieve unicorn status is limited to only a few in a million (Source: Startup Genome 2024 Global Startup Ecosystem Report, Crunchbase). These figures clearly illustrate the scale of competition and challenges faced in bringing innovative ideas to life.

The International Quality Institute (“IQI”), with its Canada-based structure, international operational network, university collaborations, and extensive knowledge base, aims to turn these low success rates in favor of applicants. IQI seeks to increase the likelihood of success for projects by transforming business ideas into feasible and sustainable business models, preparing detailed project plans and roadmaps, creating risk management plans, providing essential business development training throughout the project, delivering business development and technology consultancy services, managing incorporation processes in North America, Europe, the Middle East, and the Far East during commercialization, and structuring the established companies not only as startups but in full compliance with the international corporate standards represented by IQI.

By selecting the “I Accept” option, you acknowledge that you have read, understood, and agreed to the following terms:

1. Review and Process Authority: The business idea will be reviewed by the IQI Project Evaluation Committee; if approved, the business model, project plan, risk management, stakeholder relations, investor processes, and other development activities will be conducted under IQI’s full authority and control.
2. Capability and Commitment: The submitted business idea must be compatible with the applicant’s skills and competencies. The applicant agrees and undertakes to lead the development of the project throughout its duration and to fully comply with the project plan and performance criteria set by IQI.
3. Resources and Support: IQI will endeavor to provide the necessary resources, infrastructure, and, where applicable, sponsorship support during the project; the scope and timing are at IQI’s discretion.
4. Shareholding and Equity Management: Upon project approval, 25% equity will belong to the applicant, and 25% equity will belong to IQI. 5% of IQI’s share will be allocated to the Audit Committee (5 members, 1% each). The remaining 50% equity may be allocated, at IQI’s discretion, to new development partners and/or investors; all management and decision-making authority rests with IQI. The Project Evaluation Committee will also serve as the Project Advisory Board throughout the project. The duties and working principles of the Project Advisory Board will be specified in a separate procedural document to be prepared.
5. Address and Contact Information: The applicant undertakes that the declared address, phone, and email information is accurate and up to date; any false statement will nullify any claims to rights.
6. Intellectual Property Transfer: Upon project approval, all intellectual and industrial property rights related to the submitted business idea within the scope of this application shall be deemed permanently and irrevocably assigned to IQI. The applicant agrees to waive, to the extent permitted by law, any moral rights; not to object to the transfer, registration, or ownership of such rights; and not to make any claims.
7. Ethics Violation and Sanctions: In the event of behavior contrary to IQI’s ethical and operational principles, breach of confidentiality, or unfair competition, the applicant’s economic benefits under this agreement (e.g., equity allocation, unearned entitlements) will immediately and irrevocably terminate; IQI’s intellectual property and other rights will remain intact. IQI reserves the right to claim compensation for any damages and to seek immediate injunctive relief.
8. Governing Law and Jurisdiction: This agreement is subject to the laws of Canada; in case of disputes, only the courts of Ontario, Canada, shall have jurisdiction.

Acknowledgement: I hereby declare that I have read, understood, and unconditionally accepted the above provisions.