RANKING REGULATION 100 OPEN STARTUPS 2022

1. RANKING

1.1 The Ranking 100 Open Startups is an annual publication, used by large institutions and leading investors as a reference to monitor the most attractive startups for the Brazilian corporate market, in addition to highlighting the corporations, investors, ecosystem agents and evaluators that contributed the most to startups .

1.2 The publication is carried out by 100 Open Startups, according to the update of the data recorded on its platform in the period defined in this regulation.

1.3 Startups, corporations (medium and large companies), investors, ecosystem agents and executives registered in the 100 Open Startups system may be included in the Ranking 100 Open Startups, provided they meet the criteria in item 2 of this regulation.

1.4 The startup or corporation may be removed from the next edition of the Ranking at its request.

1.5 Being a startup, corporation, investor or ecosystem agent highlighted in the Ranking 100 Open Startups is a recognition and a differential in the innovation ecosystem, which can bring more visibility and enhance business opportunities. The Ranking does not necessarily imply the right to prizes of any kind on the part of 100 Open Startups.

1.6 Startups and corporations that register their contracts on the platform to participate in the Ranking 100 Open Startups 2021, agree, from now on, with this Regulation, as well as investors and ecosystem agents who register their relationships.

2. ELIGIBILITY

2.1 Startups, corporations, investors, ecosystem agents and executives can participate in the Ranking, according to the criteria described in clauses 2.1.1 to 2.1.6 below.

2.1.1 Startups that meet the following criteria:

i. Be a startup registered at 100 Open Startups, in accordance with the program’s regulations.

ii. Have closed contracts with corporations, which were active during the period from July/2021 to June/2022.

iii. Fill out data form for candidate startups.

iv. Record and/or validate corporate relationship data.

v. For the TOP 100 Startups, TOP Categories and Special Categories awards, the startup must not have an annual turnover of more than US$ 2.5 million (two and a half million dollars) in 2021, nor must it have received an investment of more than US$ 2, 5 million (two and a half million dollars) until 12/31/2021.

saw. Startups a) with revenues exceeding US$ 2.5 million (two and a half million dollars) in 2021; b) who have received an investment of more than US$ 2.5 million (two and a half million dollars) until 12/31/2021; and/or c) that have been acquired or merged with another company will be highlighted respectively in the special Open Scaleups, Open Series A and Open M&A listings.

2.1.2 Corporations that meet the following criteria:

i. Have more than 100 employees or have revenues exceeding US$ 20 million (twenty million dollars) in the 2021 fiscal year.

ii. Have closed contracts with startups, which were active during the period from July/2021 to June/2022.

iii. Fill in the data form for the candidate corporations.

iv. Record and/or validate relationship data with startups.

2.1.3 Venture capital managers that meet the following criteria:

i. Invested, on any date until June 2022, in startups eligible for the Ranking.

ii. Recorded and/or validated startup investment data.

2.1.4 Angel Investors who meet the following criteria:

i. Invested, on any date until June 2022, in startups eligible for the Ranking.

ii. Recorded and/or validated startup investment data.

2.1.5 Ecosystem Agents that meet the following criteria:

i. Supported, on any date until June 2022, startups or corporations eligible for the Ranking.

ii. Recorded and/or validated relationship data with startups or corporations.

2.1.6 Executives who meet the following criteria:

i. Actively enroll in the 100–10–1 Startups Program in 2022.

ii. You have successfully completed at least the first two steps of the program.

iii. Accept to have your name highlighted in the TOP 100–10–1 Engagement category of the Ranking 100 Open Startups.

3. METHODOLOGY

3.1 Scoring

3.1.1 The Ranking 100 Open Startups score is calculated from the relationships registered on the 100 Open Startups platform.

3.1.2 To count points in the Ranking, 16 (sixteen) types of relationship are considered, divided into 4 (four) large groups, with a score equivalent to 1 (one), 5 (five) or 10 (ten) points, as detailed below:

i. Group A (Positioning) — 1 (one) point: 1. Training and mentoring; 2. Matchmaking and connections; 3. Recognition and awards; 4. Coworking spaces.

ii. Group B (Platform and Partnerships) — 5 (five) points: 5. Service and technology vouchers; 6. Large enterprise IP licensing; 7. Access to non-financial resources; 8. Access to the employee base; 9. Access to customer base and sales channels; 10. Acceleration Program.

iii. Group C (Development of suppliers) — 10 (ten) points: 11. Resources for R&D and prototyping; 12. Startup IP Licensing; 13. Pilot project contracting; 14. Providing an innovative product or service.

iv. Group D (Investment) — 20 (twenty) points: 15. Investment with minority shareholdings above US$ 100 thousand; 16. Acquisition and incorporation of value above US$ 100 thousand.

3.1.3 If desired, the startup or corporation can inform the value range of the contracts to earn extra points. Contracts with a cash value for the startup above US$ 100 thousand (one hundred thousand dollars) are worth 20 (twenty) points, regardless of the category.

3.1.4 The startup may score with more than one contract per corporation with which it has a relationship, provided that: a) the sum of the points does not exceed 20 points per corporation; b) contracts of the same type do not add more points than the equivalent of 1 (one) contract of the immediately superior group.

3.1.5 The corporation may score more than one contract per startup with which it has a relationship, provided that: a) the sum of the points does not exceed 20 points per startup; b) contracts of the same type do not add more points than the equivalent of 1 (one) contract of the immediately superior group.

3.1.6 Contracts not formalized/signed are worth 1 (one) point.

3.1.7 100 Open Startups may, at any time, ask for proof of the declared relationship through the presentation of a formal contract.

3.2 Source of Information

3.2.1 The score is calculated according to the information provided through the 100 Open Startups platform.

3.2.2 Users (startups, corporations, ecosystem agents and investors) are responsible for informing when a relationship is established and the type of relationship.

3.3 Validation

3.3.1 All data used in the Ranking 100 Open Startups depend on information from startups, corporate executives, ecosystem agents or investors.

3.3.2 When information eligible for Ranking scores is added on the digital platform, the indicated point of contact will receive a link in their registered email to validate the information declared by the other party.

3.3.3 The validation process complies with the following rules:

i. For startups to score in the Ranking, the contract information provided by the startup must be validated by a point of contact within the corporation.

ii. For corporations to score in the Ranking, the contract information provided by the corporation must be validated by a point of contact at the startup.

iii. For ecosystem agents scoring, declared relationships must be validated by startups or corporations.

iv. For investor scoring, declared investments must be validated by the invested startups.

v. All information provided is audited by the 100 Open Startups team. The audit process consists of verifying that the information provided is in line with the definitions used in the Ranking methodology.

saw. Corporate contributors are validated by their verified corporate email address against the 100 Open Startups large corporation database. New corporations added to the database are reviewed and approved by the 100 Open Startups team. Subsidiaries that use the same email addresses as the parent company are considered, for the purposes of the Ranking, as being a single company. Subsidiaries that use different email addresses may also be considered as a single company for the purposes of the Ranking, provided that they are requested by the company or analyzed by the 100 Open Startups audit team.

3.4 Categories

3.4.1 When registering its contracts, the startup can select up to 4 (four) categories that best identify it, among those offered in the form, in order of preference, to compete for the TOP Categories rankings.

3.4.2 The startup must select at least one category. If you consider that you do not fit into any of the available categories, you must select New Trends and specify which term best categorizes the startup category.

3.4.3 Each startup can only be awarded a single TOP Category award, in order of preference: if the startup is not awarded as TOP 10 of its first option, it will automatically compete for the second option, and so on.

3.4.4 Only the categories with the highest score density will be awarded. Thus, 100 Open Startups does not guarantee that the categories chosen by the startup will be awarded.

3.4.5 If none of the categories chosen by the startup is awarded, or if it does not have enough points to appear in the TOP 10 of any of the chosen categories, it continues to compete normally for the TOP 100.

3.4.6 In addition to the TOP 100 and the TOP Categories, the 2022 edition will also feature the following awards:

i. TOP Open Corps: leading corporations in open innovation with startups;

ii. TOP Sectors Corps: leading corporations in open innovation with startups by sectors of activity;

iii. TOP National Open Corps: leading corporations in open innovation with startups originating in Brazil;

iv. TOP Open Startups Ecosystem: ecosystem agents recognized by startups for having supported them in their trajectory;

v. TOP Open Corps Ecosystem: ecosystem agents recognized by corporations for having supported them in their open innovation practice;

saw. TOP Investors and TOP Open Angels: venture capital managers and angel investors recognized by startups for their investment;

vii. TOP Corporate Venture Capital: corporations that invest in open startups;

viii. TOP 100–10–1 Engagement: recognition of executives with the highest scores in the 100–10–1 Startups Program.

3.4.7 For the TOP Investors, TOP Open Angels and TOP Ecosystem Open Startups categories, the Ranking criterion is the number of awarded startups that have declared a relationship with the investor or ecosystem agent. Example: if investor A invested in 5 award-winning startups and investor B invested in 7, the placement of the TOP Investor Ranking is: 1) Investor B; 2) Investor A.

3.4.7 For the TOP Open Corps Ecosystem category, the Ranking criterion is the number of awarded corporations that have declared a relationship with the ecosystem agent. Example: if ecosystem agent A had a relationship with 5 award-winning corporations and ecosystem agent Brief relationship with 7, the placement of the TOP Ecosystem Open Corps Ranking is: 1) Agent B; 2) Agent A.

3.5 Special Awards (Brazil)

3.5.1 The Ranking 2022 edition will feature special awards for startups, which will use the same criteria as the Ranking (score according to the number of contracts with corporations), applicable to Brazilian startups eligible for the award.

3.5.1 Eligibility is not guaranteed and will be subject to review by 100 Open Startups.

3.5.2 Startups wishing to compete in one of these categories must actively apply when registering their registrations and filling in the category justification field.

3.5.3 The special categories are:

i. TOP Sustainability and Environment — Eligibility Criteria: The startup must have, in its core business, products or solutions that contribute to the environmental sustainability of Brazil.

ii. TOP Social Impact — Eligibility Criteria: The startup must have, in its core business, products or solutions that generate a positive and direct social impact in Brazil.

iii. TOP Corporate Governance — Eligibility Criteria: The startup must have, in its core business, products or solutions related to corporate governance.

iv. TOP Accessibility and Inclusion — Eligibility Criteria: The startup must have, in its core business, products or solutions that are directly focused on accessibility and/or inclusion of people with disabilities.

v. TOP Female Entrepreneurship — Eligibility Criteria: The startup must have, among its founding partners, at least one woman, who has an executive role in the startup and an equity interest of at least 10%.

saw. TOP LGBTQIA+ Entrepreneurship — Eligibility Criteria: The startup must have, among its founding partners, at least one LGBTQIA+ person, who has an executive role in the startup and an equity interest of at least 10%.

vii. TOP Black Entrepreneurship — Eligibility Criteria: The startup must have, among its founding partners, at least one entrepreneur who declares himself black or brown, who has an executive role in the startup and participation shareholding of at least 10%.

viii. TOP Senior Entrepreneurship — Eligibility Criteria: The startup must have, among its founding partners, at least one entrepreneur with at least 50 years of age in the Ranking period, who has an executive role in the startup and an equity interest of at least 10%.

3.6 Special Listings — Startups

3.6.1 For the 2022 edition, 100 Open Startups foresees the inauguration of the special listings of program startups that have reached the status of:

i. Open Scaleups: startups that have surpassed the annual revenue of US$ 2.5 million;

ii. Open Series A: startups that exceed US$ 2.5 million in total investment received;

iii. Open M&A: Startups that were acquired or merged with another company.

3.7 Country and/or region-specific awards and rankings will be defined according to the startup’s country of origin.

3.8 Not all awards provided for in this regulation will be published in all participating countries and regions. 100 Open Startups may, at any time — according to the density of startups, corporations, investors, ecosystem agents and registered relationships — change, add or remove any award categories provided for or not in this regulation, in any of the countries and participating regions.

4. DEADLINES

4.1 For the categories of startups and corporations, contracts that were active during the period from July/2021 to June/2022 will be considered.

4.1.1 Contracts must be declared by 06/15/2022 or validated by 06/30/2022;

4.1.2 In case of a request for reconsideration of the judgment of the audit of the contracts, only those sent until 07/07/2022 will have a new analysis guaranteed for the Ranking 2022.

4.2 For the categories of ecosystem agents and investors, the relationships/investments that took place until June/2022 will be considered.

4.2.1 Relationships/investments must be declared by 06/15/2022 or validated by 06/30/2022.

5. FINAL PROVISIONS

5.1 Information about contracts submitted for participation in the Ranking 100 Open Startups is private and will only be shared with the stated point of contact for validation, and with 100 Open Startups for contract auditing.

5.2 The data may be used by 100 Open Startups or partner research institutions for research and surveys on the practice of open innovation and the innovation ecosystem in general, guaranteeing their confidentiality.

5.3 Only official ranking and consolidated data, by sector, category, geography, etc. will be published in publications referring to the Ranking 100 Open Startups, press and partners, without identifying the specific relationships between startups and companies, unless there is an intention and acceptance of the two parties involved to publicize the relationship as a case of open innovation.

5.4 These regulations may be amended at any time, without prior notice, at the sole and exclusive discretion of 100 Open Startups.

Last update: 03/29/2022