Terms and Conditions


Agreement between Entrant and Fintech Academy

HEALTHCARE FINTECH ALLIANCE INNOVATION CHALLENGE (“Challenge”) is offered to you by Fintech Academy (“FTA”) on behalf of the Healthcare Fintech Alliance (“the Organizer”), which currently consists of FTA, Alibaba Cloud (Singapore) Pte Ltd (“Alibaba Cloud“) and Pfizer Singapore Pte Ltd (“Pfizer”), and conditioned on your acceptance without modification of the terms and conditions contained herein (“Terms”). Your submission of the Entry Form to the Challenge (“Submission”) constitutes your agreement to the following Terms.



Healthcare affordability remains a challenging issue in Emerging Markets in South East Asia as a significant number of patients struggle to obtain financial support for their treatments and care. Inadequate insurance coverage, coupled with financial illiteracy and lower bank account ownership, means that patients have limited access to novel therapies and financing options and are often burdened with high out-of-pocket payments, impacting their overall quality of life. Therefore, innovative, efficient and patient-centric support systems need to be put in place to help improve levels of affordability and accessibility.


Challenge Statements & Descriptions

Challenge Statement 1: To maximize the reach and efficiency of Patient Support Program’s via technological applications

Description: Patient Support Program’s (PSP) are a support scheme provided by pharmaceutical companies for patients who need financial assistance to take a prescribed medicine. In an ordinary PSP process, patients and/or their healthcare provider need to submit an application before they receive financial support through the PSP.  This process is lengthy and complex and the variation of PSP offered by different pharmaceutical companies may diminish the efficiencies of PSP overall. The expected deliverables to the above challenge include quality outcomes through applying latest technology to improve patient access to innovative medicines.

Challenge Statement 2: Innovative Financing to expand access and affordability to medicines and quality healthcare

Description: Access and affordability to innovative medicines and quality healthcare is one of the most significant challenges to populations around the world and in emerging markets. To ensure everyone gets the opportunity to live heathier lives, creative partnerships focusing on driving innovative financing are essential to provide holistic solutions for patients and their families. Redefine resources needed and pathways to build sustainable solutions that empower patients to access innovative medicines and quality healthcare.

One Winner will be selected based on the Selection Criteria mentioned below.



The Challenge is open for participation by any entity and organization, whose funding round is up to Series B (including yet-to-be funded, pre-seed, seed, pre-Series A, Series A and Series B),  from across the innovation ecosystem that operates lawfully in the Asia Pacific region at the time of entry (‘Entrant”). The Challenge is void in all countries where prohibited by law.

Participation in the Challenge is not permitted to the Organizer’s employees (or a first grade relative or living in the same household of an employee).

The Organizer reserves the right to exclude from the competition any Entrant who, in the reasonable opinion of the Organizer and its partner(s), violates those requirements or any other aspect of the Terms herein. To these effects, the Organizer will be entitled to request from the Entrant and, specially, from the winner, any information and documentation needed in order to verify the compliance with the Terms of the Challenge. The lack of delivery of such information or documentation may result in the immediate elimination of the Entrant from this Challenge.

If Entrant is entering as part of a company or on behalf of its employer, these Terms are binding on Entrants as well as the employer. If Entrant is acting within the scope of the employment, as an employee, contractor, or agent of another party, by submitting the Entry, Entrant warrants that such party has full knowledge of Entrant’s actions and has consented thereto, including to these Terms and Entrant’s potential receipt of an award. Entrant furthermore warrants that Entrant’s actions do not violate the employer or company’s policies and procedures.

These Terms may be subject to change at any time by the Organizer and any decisions by the Organizer on eligibility, interpretation of Terms, and resolution of any claims or disputes related to this Challenge will be final and binding in all respects.  The Organizer reserves the right to cancel or suspend the Challenge at any time at its sole discretion.


How to Enter

Submit your completed entry form in accordance with all Terms specified herein. The Submission must demonstrate the capabilities and functionality of the proposed solution and address the stated criteria listed herein.  You may enter either alone or as part of a team. Each team member must be clearly identified on the team’s official entry form to be eligible. Each Submission entered into the Challenge must meet the “Submission Requirements” (any Submission that, in the Organizer’s sole discretion, violates the following criteria will be disqualified).


Submission Requirements

By your participation in this Challenge, each Entrant represents, warrants, and covenants as follows:

  • Entrant is the sole author, creator, and owner of the Submission;
  • Entrant is eligible to participate in the Challenge in accordance to the eligibility criteria set forth in these rules and conditions;
  • the Submission is not the subject of any actual or threatened litigation or claim;
  • the Submission does not and will not violate or infringe upon the intellectual property rights, privacy rights, publicity rights, or other legal rights of any third party and
  • the Submission, and Entrants use of the Submission, does not and will not violate any applicable laws or regulations.
  • Entrants will indemnify, defend, and hold harmless  the Organizer from and against all third party claims, actions, or proceedings of any kind and from any and all damages, liabilities, costs, and expenses relating to or arising from Entrant’s Submission or any breach or alleged breach of any of the representations, warranties, and covenants of Entrant hereunder. The Organizer reserves the right to disqualify any Submission that the Organizer, in its sole discretion, deems to violate these requirements.

Selection Criteria

Throughout the Challenge, the Submissions and developed solutions will be judged and scored by a review panel chosen by the Organizer (“Review Panel”), which may include both the Organizer colleagues as well as external experts.

The Review Panel will rank the Entries based on:

  • Experience and understanding of the financial and healthcare ecosystems within Emerging Markets Asia
  • Solution fit to the proposed need, considering the expected outcomes
  • Cost-effectiveness
  • Patient impact
  • Innovative solution
  • Ease of pilot implementation
  • Scalability
  • Time to market and market risk
  • Differentiation of solution within the competitive landscape
  • Capability of participant to execute the solution
  • Extent to which the solution could advance to a partnership with the Organizer
  • Demonstration of total funding requirements for various stage of development
  • Demonstration of use of funds, i.e. prize money

The evaluation criteria are to be applied in the sole discretion of the judges. Each Entrant into the Challenge acknowledges and agrees that such evaluation may differ from person to person and agrees to be bound by and not challenge the final decision of the judges.


Semi-Finalists selection

The highest ranked entries by the Review Panel will be selected as Semi-Finalists and participate in the Organizer hosted “Pitch Day”, subject to verification and compliance with these Terms. The Semi-Finalists will be notified by the email address provided, no later than the end of Sep 2020.


Finalists selection

The Review Panel will analyze and rate all Semi-Finalists participating in the Pitch Day(s), to select the Finalists to participate in the Organizer hosted “Final Pitch Day”, subject to verification and compliance with these Terms. The Finalists will be notified by the email address provided, no later than the end of Oct 2020.


Winner selection  

The Review Panel will analyze and rate all Finalists participating in the Final Pitch Day, to select the winner that obtains the highest rating. The exact results of the evaluation process are not going to be published. The winner will be notified by the email address provided, no later than end of Nov 2020.

In the case that the Entrant is an employee of an organization represented in the Review Panel or of a company which has received funding by one of the companies represented by the Review Panel, the respective member of the panel must abstain from voting.




  • Each semi-finalist will be awarded US$2,000 worth of cloud credits by Alibaba Cloud.
  • Each finalist will be awarded US$5,000 worth of cloud credits by Alibaba Cloud.
  • The Challenge winner will be awarded a monetary prize of US$50,000 by Pfizer, to be used for the further development of the Finalist’s solution.
  • The Challenge winner will be awarded US$10,000 worth of cloud credits by Alibaba Cloud.
  • Payment of monetary prizes to startups will be processed through FTA.


  • Together with the winner, the Organizer will work out the exact needs and the objectives of the mentoring in order to provide information and connect the winner with the suitable mentors. Experts from various fields will be available for up to 20 hours of mentoring for the winning team.

Possible Collaboration

  • If Entrant is selected as the winner, upon the Organizer’s request, the Organizer shall have the right of first refusal (“Right of First Refusal”) to acquire or license Entrant’s solution, including further changes and/or developments made thereof during the Challenge. To avoid any doubt, winning the Challenge does not automatically lead to further legally binding contractual agreements with the Organizer. The detailed terms of possible future agreements between the Organizer and the winner (or any of the Entrants) will be negotiated separately and will not be linked to the Term set herein.


General Prize Conditions

The successful completion of the compliance procedure and due diligence review will be at the Organizer’s sole discretion. After the successful compliance assessment, the Winner will be paid pursuant to the Organizer’s standard invoicing process. The Organizer shall not be made liable for any change in the prize amount resulting from any fluctuation of the United States Dollar/local currency foreign exchange rate.


Intellectual Property

All intellectual property rights in the idea or concept presented in the Submission, independently of the final results of the initiative, will remain as property of the Entrant. By your Submission to the  Challenge, the Entrant grants the Organizer a limited, non-exclusive, royalty free license and right to use the Submission to the extent necessary to distribute to third parties associated with the Challenge, conduct the award ceremony and to promote the Challenge including the presentation during the award ceremony as well as for the press coverage and media follow-up after the ceremony.

Entrant consents, authorizes and grants to the Organizer the irrevocable and unrestricted right and permission to take, copyright, use and publish printed, video, audio, or photographic images of Entrant and Entrant’s statements, in whole or in part, in conjunction with or without Entrant’s name, or any reproductions thereof related to the Challenge for the Organizer’s use with internal and external audiences, including the right to edit these materials to ensure compliance with applicable rules and regulations.

Participant shall not to use the Organizer’s or any of its partner’s name, logo, corporate identity or images without the Organizer’s prior written consent.



All the information provided by the entrants will be non-confidential. The information related to the Submission will be managed by the Organizer and delivered to members of the Review Panel, which have the specific task of evaluating Ideas proposed.

All Entrants agree to the publication of their name as well as the names of their collaborators, the company name, the project title as well as the general project description for the above-mentioned purposes of promotion.

Entrant acknowledges that the Organizer may presently, during the Challenge, and/or in the future be developing internally, or receiving from other parties, ideas, concepts, solutions and information that are similar to Entrant’s Submission. Accordingly, nothing herein shall prohibit the Organizer from independently acquiring, developing, or having developed for it, products, concepts, systems, services, or techniques that are similar to or compete with the products, concepts, systems or techniques contemplated by or embodied in the Submission.


General Legal Restrictions

The Entrants are responsible for checking applicable laws and regulation in their jurisdiction before participating to make sure that the participation is legal. The Entrants are responsible for all taxes and reporting related to the challenge. The Entrants are also responsible for abiding by their employer’s policy regarding participation in the Challenge.


Personal Data

The personal data (such as name, address, age and email address etc.) which you submit for this Challenge directly to the Organizer will be used for the purpose of the fulfillment of the contractual relationship in compliance with the Singapore Personal Data Protection Act (PDPA). However, the Organizer may keep the data you submit for a period of up to 18 months to examine possible cooperation outside of this Challenge for other projects. Thereafter, your data will be deleted if not kept due to legal retention periods.


Other Issues

All issues and questions with regard to the construction, validity, interpretation and enforceability of these Terms, or the rights and obligations of Entrant, and/or the Organizer shall be governed by, and construed in accordance with, the laws of the state of Singapore, without giving effect to any choice of law or conflict of law rules, which would cause the application of the laws of any other jurisdiction.

The exclusive jurisdiction and venue of any action with respect to the subject matter of these Terms shall be the state courts of the State of Singapore; and Entrant submits itself to the exclusive jurisdiction and venue of such courts for the purpose of any such action. Any and all claims, judgments, and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with participating in the Challenge, but in no event attorneys’ fees. Participant hereby waives all rights to (i) claim or be awarded any punitive, direct, indirect, incidental, and consequential damages and any other damages, other than for actual out-of- pocket expenses, and (ii) to have damages multiplied or otherwise increased, including for willful patent infringement.

If any provision is held to be invalid, this shall not affect the validity of the other terms and conditions.


Contact Information

In case you have any questions regarding the Challenge please contact the organizing team at pitch@hfalliance.org.