Terms and Conditions – JKX Innovate
By applying for JKX Innovate you are agreeing to be bound by the following terms and conditions (“Terms”).
1.Eligibility
1.1 JKX Innovate is open for mature startups, scale ups and established businesses.
1.2 You are eligible for JKX Innovate if your company has an innovative business solution (“Solution”) which helps any of the businesses affiliated with JKX Innovate (“Business Units”) of John Keells Group as listed on our website to overcome any potential challenges that they might face and thereby enhance their operational efficiency.
1.3 You must ensure that your company a) is a duly incorporated company in Sri Lanka b) has the necessary approvals/ licenses/ certificates from the relevant regulatory authority (if applicable) to conduct the business of your company and c) complies with all the laws and regulations in Sri Lanka including anti money laundering and counter terrorism financing laws and personal data protection laws.
1.4 You must be duly authorised by your company to take part in JKX Innovate.
2. Application Process
2.1 In order to apply for JKX Innovate you need to create an account on Metabeta, the official platform linked through our website <www.johnkeellsx.com> under the tab ‘Apply Now’ and thereafter fill in the application form online.
2.2 You must ensure that all information provided in the application is accurate, complete, and up to date.
2.3 We will not consider applications submitted after 8th February 2024 or incomplete applications.
2.4 You are responsible for maintaining the security of your account and password. We will not be liable for any loss or damage if you fail to comply with this security obligation.
3. Evaluation Criteria
3.1 Applications regarding the challenges identified by the applicant will be evaluated based on creativity, feasibility, innovation, and potential impact to the relevant Business Unit.
3.2 The decision of the respective Business Unit evaluating Solution is final and binding.
4. Intellectual Property Rights
4.1 You must own the intellectual property attached to the Solution evidenced by a) a certificate of industrial design, copyright or a patent or b) an application submitted to the National Intellectual Property Office register the intellectual property or c) a letter or a board resolution signed by all the Directors/ partners/founders of your Company stating that your Company is the sole owner of the intellectual property.
4.2 You must grant the relevant Business Unit affiliated with JKX Innovate a non-exclusive, royalty-free licence to the intellectual property to evaluate, test, and understand the Solution.
4.3 Any intellectual property developed during JKX Innovate program in collaboration with the relevant Business Unit may be subject to separate agreements.
4.4 In this clause the term “intellectual property” shall mean the software, a computer code, a computer program, hardware, machines developed, a process, tool, mechanism, or a formula which constitutes the Solution that you have proposed.
5. Confidentiality
5.1 All information and data provided in the applications will be treated as confidential, and your company commits to ensuring the protection of sensitive information regarding JKX Innovate, Business Units, John Keells Group.
6. Use of Funds
6.1 If funding is provided by the Business Unit, you must use the funds solely for the development and scaling of the Solution evidenced by a detailed expenditure report.
7. Program Participation and Conduct
7.1 You hereby agree to commit to the JKX Innovate program’s timeline and actively engage in all required activities and conduct yourself in a professional manner.
8. Limitation of Liability
8.1 We will not be liable for any direct, indirect, incidental, or consequential damages arising out of your participation in JKX Innovate.
8.2 You are solely responsible for any and all expenses you may choose to incur in the course of participating in JKX Innovate.
9. Disqualification
9.1 Any violation of these Terms will result in disqualification from JKX Innovate.
9.2 We reserve the right to disqualify you if you engage in unethical practices, including plagiarism or misrepresentation or if you act in any manner that would bring disrepute to us or the Business Unit.
10. Changes to Terms
10.1 We reserve the right to update and change the Terms or terminate JKX Innovate anytime with or without notice.
11. Governing Law and Dispute Resolution
11.1 These Terms will be governed by and construed in accordance with the laws of Sri Lanka, and you irrevocably agree that the competent courts in Colombo shall have exclusive jurisdiction in relation to any claim or dispute concerning these Terms and any matter arising therefrom.
12. Acknowledgment
By applying, you hereby acknowledge that you have read, understood, and agreed to these terms and conditions.
13. Interpretation
In these Terms:
a reference to “we” or “us” refers to John Keells X or John Keells Holdings PLC or any subsidiary company of John Keells Group.
a reference to “you” or “your” is a reference to an applicant of JKX Innovate.
Krishan Balendra was appointed as an Executive Director of JKH in November 2016 and was appointed as Deputy Chairman of JKH on January 1st 2018. He is also the Chairman of Nations Trust Bank PLC. He was previously the President of the Leisure and Retail Sectors at JKH. Mr. Balendra joined JKH in 2002 as Head of Corporate Finance after stints at UBS Warburg, Hong Kong in Investment Banking and Aitken Spence Sri Lanka in Corporate Finance. Mr. Balendra, a former Chairman of the Colombo Stock Exchange, holds a law degree (LLB) from the University of London and an MBA from INSEAD. He is also the Honorary Consul General of the Republic of Poland in Sri Lanka in addition to being a Member of the Main Committee of the Ceylon Chamber of Commerce.
“Dumith is Chairman of Asia Securities Holdings (Pvt) Ltd, a leading independent Investment Bank in Sri Lanka which offers Investment Banking, Research, Stock Broking and Wealth Management services to international and domestic institutions, corporates and high net worth individuals. Dumith has two decades of experience in international Investment Banking based in New York and Hong Kong with JPMorgan Chase & Co. (from 1995 until 2007) and Credit Suisse AG (from 2007 until 2013). Until 2013, he was Managing Director and Group Chief Operating Officer for Credit Suisse Asia Pacific. He has worked in roles across Investment Banking, Equities, Venture Capital and Corporate Strategy. Dumith is a Non-Executive Director of the Colombo Stock Exchange, Union Assurance PLC, and Singer (Sri Lanka) PLC and a member of the Economic Policy Steering Committee of the Ceylon Chamber of Commerce. He also served as Chairman of Lankan Angel Network (LAN) Sri Lanka’s main angel investor organization. He holds a BA in Physics & Economics from Middlebury College in the U.S. and an MBA from Harvard Business School. “
Ajit Gunewardene is the Founder & CEO of Bluestone Capital Private Limited. He was the Deputy Chairman of John Keells Holdings PLC and has been a member of the Board for over 24 years. In addition to this he was the Chairman of Union Assurance PLC a leading life insurance provider in Sri Lanka. He is the Founder Chairman of Digital Mobility Solutions (PVT) Limited (Pick Me) – the leading ride hailing service provider in the Country. He is a member of the Board of SLINTEC, a company established for the development of nanotechnology in Sri Lanka under the auspices of the Ministry of Science and Technology. He has also served as the Chairman of the Colombo Stock Exchange and Nations Trust Bank PLC. Ajit has a degree in Economics and brings over 36 years of management experience.
Ramesh presently leads the Digital and Technology strategy/execution for the John Keells Group, Sri Lanka’s largest listed conglomerate in the Colombo Stock Exchange, as its Executive Vice President/ Group CIO whilst providing leadership for the Group’s IT Consultancy and Services’ Organization, John Keells IT as its CEO. He is a seasoned Digital cum Business Executive, Leader and Strategist, who has provided effective stewardship for many organizations, including premier, blue-chip, conglomerates, working in some of the most competitive markets in the technology industry. He has over 25 years of experience, with 15+ at the C-level, in Sri Lanka, USA and India with an operational footprint covering territories such as USA, Canada, UK, Nordics, Middle East, Australia and emerging markets. He holds to his credit a PhD (Management) from Keisei University, South Korea, MSc(Computer Science) with Phi Kappa Phi Honours from Rochester Institute of Technology, a MBA(General) from Postgraduate Institute of Management, University of Sri Jayewardenepura, Sri Lanka; BSc.Eng.(Electronics & Telecommunications) with First class Honours from University of Moratuwa, Sri Lanka.
Gihan Cooray was appointed as an Executive Director of JKH in November 2016 and was appointed as Group Finance Director of JKH on January 1st 2018. He is also a Non-Executive Director of Nations Trust Bank PLC. Mr. Cooray holds an MBA from the Jesse H. Jones Graduate School of Management at Rice University, Houston, Texas. He is an Associate Member of the Chartered Institute of Management Accountants, UK, a Certified Management Accountant of the Institute of Certified Management Accountants, Australia and has a Diploma in Marketing from the Chartered Institute of Marketing, UK. He serves as a Member of the Sub-Committee on Economic, Fiscal and Policy Planning of the Ceylon Chamber of Commerce.