Terms and conditions

Elevator Accelerator Programme Terms and Conditions

Updated on 25 May 2023

University of Dundee Stipend Support for Elevator Accelerator Programme - Founder Terms and Conditions

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University of Dundee, established by Royal Charter dated 20th July 1967 and a registered Scottish charity (Charity Number SC015096) and having its principal office at 149 Nethergate, Dundee, DD1 4HN.

The purpose of the stipend is to enable the full participation (to assist in covering living or travelling costs) of Students and Recent Graduates (last 5 years) from the University of Dundee on Elevator’s in-person Academic Accelerator Programme (“the Programme”) based at the University of Dundee and to therefore support the generation of new business ventures.

University of Dundee Responsibilities for the Programme

For the University of Dundee to arrange stipends (£500 monthly instalments for a maximum of 3 months based on the length of programme and successful progression of Elevator's programme – 1 instalment at the beginning of the programme and 1 subsequent instalment after a successful Elevator Stage Gate interview) for eligible Founders to be paid via BACS in a timely manner based on successful progress and engagement with the Programme as monitored and communicated by Elevator to the University of Dundee.

Founder Responsibilities

  1. Founders must commit to a full-time engagement (Tuesday-Friday 9.30-5pm) with testing the market viability and validation of their business throughout the duration of the 2 or 3 month programme.
  2. Founders must inform Centre for Entrepreneurship about any additional support needs that they may have as soon as possible. University of Dundee staff will discuss any potential adjustments that need to be made to the Programme and support you in making relevant arrangements.
  3. Founders are representatives of the University of Dundee and Elevator, so must ensure they act in a professional manner at all times during the programme and any travel/visits while enrolled in the programme.
  4. Founders are responsible for participating fully in the Programme and agree to the terms and conditions and conventions set by Elevator’s Founder Charter (which Founders will sign on Week 1 of the Programme) with regards to the Programme.
  5. Founders are responsible for checking if they have the required visa to start and operate a business within the UK and should confirm this with the Elevator Accelerator Manager at the start of the Programme. Founders should inform the University of Dundee, Centre for Entrepreneurship and Elevator immediately if there any changes with their visa as the University of Dundee reserve the right to withdraw any payable stipend should this change.
  6. Founders are responsible for obtaining: 1. all required permissions to allow participation on the Programme and/or 2. any intellectual property rights that may be partly owned by their university/sponsor organisation or any 3rd Party.
  7. Founders are responsible for managing the spending of their own stipends (to assist with living or travelling costs to enable full participation) while on the Programme.
  8. University of Dundee reserves the right to amend or alter these terms and conditions or cancel the Stipend at any time without prior notice being given to any Founders. University of Dundee shall NOT be liable to any Founders, for any costs, expenses, loss and/or direct, indirect or consequential damages incurred or arising out the amendment or alteration of these Terms & Conditions or cancellation of the Stipend or the Programme. 
  9. Except as required by law, the liability of the University of Dundee under the Programme is limited to the payment of the agreed stipend and the Founder shall have sole liability for his or her own activities under the Programme and for any loss or damage the Founder or any third party incurs as a result of those activities
  10. These Terms & Conditions are governed by Scots Law and subject to the exclusive jurisdiction of the Scottish courts.


Any queries regarding University of Dundee Founder stipend support for participation in the Programme should be addressed to:

Centre for Entrepreneurship
Unit A, 75 Old Hawkhill
University of Dundee
Dundee DD1 5EN
Email: entrepreneurship@dundee.ac.uk
Tel: 01382 386568

Corporate information category Student stipend