The Algoritmi Prize (the ‘Prize’) is a $1,00,000 prize awarded to research groups and research organisations engaged in research in the fields of artificial intelligence and robotics that can be applied to promote food security.
We are the Future Investment Initiative Institute (‘FII-I’), a non-profit entity located at RDC Complex, Building CS01, 4th Floor, Unit 9, 4044 Al Imam Saud Ibn Abdul Aziz Branch Road, Al Nakhil, Riyadh, 12382, Saudi Arabia. To contact us, please email email@example.com.
We have selected Springer Nature Limited (‘Springer Nature’) to be our Partner for the Prize, and in doing so, Springer Nature shall be the ‘Promoter’ of the Prize due to their expertise in assisting researchers in the field of innovation.
We may amend these terms and conditions without notification. Please check these terms regularly to ensure you understand the terms that apply at that time.
In order to apply for the Prize please visit the Algoritmi Prize webpage. Please read these terms and conditions carefully to ensure you meet both the eligibility and application criteria before applying.
To be eligible to apply for the Prize, you must, at the point of point of application:
You must be able to demonstrate that:
The Algoritmi Prize is not open any time to applications from:
One winning application will receive a grant of US$1,000,000 to accelerate the development and application of the technology to promote food security.
The winning applicant will be required to formally accept the prize via email within 14 calendar days, and may be required to provide confirmation of eligibility. If a winner does not accept the prize within 14 calendar days of being notified, they may forfeit the prize and the Promoter reserves the right to choose another winner.
The winners’ institution will be required to sign a funding agreement and to provide their bank details. Payment will be made in one installment by bank transfer.
The winners are fully responsible for any tax that may be liable on the award.
Prize money must be spent within three years of receipt. A brief report will be required after three years detailing how the funds were used. You may also be required to give a short presentation to representatives of the sponsor.
One representative from each shortlisted application will be expected to participate in person in an expenses paid symposium on AI and robotics for food security that will take place at the FII 7th edition in Riyadh, 24–26 October 2023. The prize will reimburse economy class flights and up to three nights accommodation.
In submitting an application for the Prize, you agree to provide quotes and/or photographs and/or videos for the Prize, and grant the FII-I and the Promoter to use such materials in any promotional material.
Applicants further agree to participate in interviews and contribute content after the Prize results have been announced, at the request of the Promoter.
All shortlisted applicants must answer profile questions and provide a headshot photograph (JPEG, 150x150 pixels) to the Promoter as part of their application. The profile and questions will be used by the Promoter on the Prize website. The name, region of residence, profile and likeness of the winner and shortlisted applicants may be used by the Promoter for Prize and event publicity in any form including on the Promoter’s website and social media pages at no cost to the Promoter.
Each shortlisted applicant shall keep the status and the listing for the Prize completely confidential until after the public announcement of the shortlist by the Promoter. The winner agrees to keep the results of the Prize completely confidential until after the public announcement of the winner by the Promoter.
We may publish the results of the Prize including your personal details and photographs. Copyright in the content of your application will pass to us as soon as submitted. We shall have an exclusive, irrevocable, worldwide licence to publication; and a non-exclusive licence to publish, syndicate, distribute, reproduce, and exploit the material in all present and future media and formats and to sub-license these rights to others.
Other than for death or personal injury arising from our negligence or that of the Promoter, so far as is permitted by law, we hereby, and the Promoter hereby, excludes all liability for any loss, damage, costs, and expenses, whether direct or indirect, howsoever caused in connection with the Prize. All activities are undertaken at the applicant’s own risk.
The decision of the judging panel shall be final and unchallengeable and, acting in our sole and absolute discretion, we may declare void any application or withdraw the Prize should we consider that there are no entries reaching the required standard. We shall have the right, acting in our sole and absolute discretion, to change the rules of the Prize at any time, including extending the closing date. No correspondence will be entered into, or comment issued on any matters concerning the Award, nor are we required to give any reasons for any decision made. We do not guarantee the success of any application, and we may suspend or withdraw any offer for any reason.
You are responsible for ensuring that you meet the terms and conditions contained herein when making your application for the Algoritmi Prize. We accept no responsibility for lost, corrupted, delayed or mislaid entries.
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A person who is not a party to these terms and conditions may not enforce any of its terms.
The validity, construction and performance of these terms and conditions and all contractual and non-contractual matters arising out of them, shall be governed by the Laws of Saudi Arabia and shall be subject to the exclusive jurisdiction of the courts of Saudi Arabia, to which you and we submit.