Main Street Dividend - Terms and Conditions

Apply for the MainVest Dividend

Eligibility requirements:

The below requirements must be met in order for a business applicant (the “Applicant” or collectively the "Applicants") to be eligible:

  • Early stage companies that are either pre-revenue or have been generating revenue for no more than two years.

  • Applicant must be incorporated within the United States by December 1, 2019.

  • Applicant must intend to have its primary place of business in one of the following states:  Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut.

  • Applicant must be in a brick & mortar OR business to consumer industry.  Examples include: restaurants, breweries, convenience stores, online retail, fitness studios, etc.  Examples of excluded industries: consulting services, software companies, medical device companies, etc.

  • Beneficial owners of the Applicant must be 18 years of age or older at the time of application.

  • Applicant is required to have a business plan and provide the information required to enter.

Employees and vendors of MainVest, Inc. are not eligible to enter or receive the prize.

Applicant, any affiliated entities, beneficial owners of 20% equity, directors, and/or officers shall not be disqualified pursuant to Regulation Crowdfunding Bad Actor Rules, such as being convicted of, or subject to court or administrative sanctions for, securities fraud or other violations of specified laws.  

All applicable federal, state and local laws and regulations apply. Void where prohibited or restricted by law. MainVest may at any time request valid proof of identity, residency, age and other relevant documentation and may disqualify a registrant if MainVest determines (in its sole and reasonable discretion) that the provided proof is not sufficient.

NO PAST OR FUTURE PURCHASE OF SERVICES OF MAINVEST REQUIRED. A PURCHASE WILL NOT IMPROVE YOUR CHANCES OF WINNING.

Contest Enrollment Period

The Contest entry period begins at 9:00am EST on Thursday, September 12 and ends at 11:59am EST on Friday, November 1, 2019 (the "Contest Period").

HOW TO ENTER: During the Contest Period, fill out the form and upload a video at www.mainvest.com/dividend  (the “Contest Webpage”) with all requested information (an “Entry”) including:

1)   Name of Business;

2)   Description of Business;

3)   Impact of MainStreet Dividend on your venture;

4)   How your business impacts your community; and

5)   A brief pitch video.

Limit One (1) Entry per person, per company, and per e-mail address during the Contest Period, regardless of whether a person has more than one e-mail address or more than one person uses the same e-mail address.

Winner Selection

Three finalists (the "Finalists") from the Applicants will be selected based on the following criteria (the "Criteria"):

1)   Viability of Business Model;

2)   Argument of Impact of MainStreet Dividend on Applicant;

3)   Community impact; and

4)   Audience voting.

The Criteria will be weighted and assessed by a team of MainVest employees whose decisions on all matters related to the contest shall be final and will select the Finalists of the prize.  None of the criteria will necessarily be weighted more or less than the other criteria and, for the avoidance of doubt, audience voting will be considered, however, may not dictate the Finalists or final winner (the "Winner") of the prize. See additional terms on audience voting below.

MainVest retains the right to select more or less Applicants as Finalists.

Once the Finalist's are Selected, MainVest will schedule a phone interview with each Finalist to learn more about each business and further assess the Criteria. From these interviews and the information provided by the Applicant, MainVest will select the Winner. In the event that a potential winner is disqualified for any reason, MainVest may, in its sole discretion, award the applicable prize to an alternate winner decided by MainVest.

The MainVest team will select the Winner no later than November 15, 2019 at 5 pm EST.

Audience Voting

Applicants will be provided with a unique URL that links directly to the Entry for the Application. This URL can be shared by each Applicant on social media, email, etc. Users on our site will have the ability to vote and show their support for Applicants. Any user on MainVest can vote up to one time for each business and can only vote on any individual one time. For the avoidance of doubt, users on MainVest can show their support for more than one business by voting multiple times. As noted above, votes will not necessarily determine the Finalists or the Winner, but will be used in conjunction with the aforementioned criteria when determining the Finalists and the Winner. It is possible that the Applicant with the most votes may not become a Finalist or a Winner.

The Prize

The Winner of the prize will receive $12,000, paid in monthly increments of $1,000 for a one-year period.  The first payment will be made on or around December 1, 2019 and will be paid on a monthly basis on or around the 1st of each month until the $12,000 is fully paid. If at any time over the course of the 12 month payment period, the Winner of the prize is no longer in active pursuit of the presented business venture, MainVest retains the right in its sole discretion to discontinue the monthly payments described herein.  

The prize is paid directly to the Winner’s business checking account and the prize can not be transferred to any other person or entity.

Conditions

MainVest reserves the right, at its sole discretion, to cancel, terminate, modify or suspend the Contest (or portion thereof).  MainVest also reserves the right at its sole discretion to disqualify the Entry of any Applicant.

The Winner is responsible for reporting and paying all applicable taxes in their jurisdiction of residence (federal, state/provincial/territorial and local).  The Winner may be required to provide certain information to facilitate receipt of the award, including completing and submitting any tax or other forms necessary for compliance with applicable withholding and reporting requirements. MainVest reserves the right to withhold a portion of the Prize amount to comply with the tax laws of the United States or other jurisdictions.

Should a dispute arise regarding the identity of the claimant, MainVest reserves the sole right to determine the eligible party. 

BY ENTERING THE CONTEST OR OTHERWISE PARTICIPATING IN IT, EACH APPLICANT, USER WHO VOTES ON ANY PITCH, OR ANYONE ELSE ENGAGING WITH THE CONTEST WAIVES ALL RIGHTS TO BRING (AND COVENANTS NOT TO BRING) ANY CLAIM AGAINST MAINVEST OR ANY OTHERS ASSOCIATED WITH THIS CONTEST. ENTRANTS FURTHER AGREE TO RELEASE AND HOLD HARMLESS MAINVEST FROM ANY AND ALL LIABILITY ARISING FROM THEIR PARTICIPATION IN THE CONTEST, OR MAINVEST’S USE OF ANY ENTRY INFORMATION. Any disputes that may arise hereunder shall be governed in all respects by the laws of the Commonwealth of Massachusetts without regard to the conflicts of laws principles of any jurisdiction. Venue with respect to any such disputes shall be had in the state and federal courts of the Commonwealth of Massachusetts.

BY ENTERING THE CONTEST OR OTHERWISE ENGAGING WITH IT, EACH APPLICANT AND USER ON OUR SITE, (1) AGREES TO BE BOUND BY THE TERMS OF SERVICES OF THE MAINVEST SITE LOCATED AT (https://mainvest.com/terms-of-service) AND (2) AGREES TO CONSENT TO THE MAINVEST PRIVACY POLICY LOCATED AT (https://mainvest.com/privacy-policy).

Publicity and Release

As a condition of entry into the Contest, except where prohibited by law, each Applicant and each Winner by accepting a prize grants to MainVest, all right, title and interest in to publicize, broadcast, display and/or otherwise use the Applicant’s name, city, state, and biographical material, as well as their company’s name, logo, company description, and photos and content from the Contest  (collectively, “Licensed Rights”) in any media for advertising and publicity purposes, without additional review, compensation, or approval of the winner. If Winner does not respond to notification, such prize will be forfeited. By participating, entrants agree to be bound by the Official Rules and the decisions of the judges, which are final and binding in all respects.

Winner's Notification

For notification of the finalists and/or the winner, send an email to info@mainvest.com. Requests must be received within two months after the end of the Contest Period.

Sponsor

MainVest, Inc. 81 Washington St. Suite 201 Salem, MA 01970