IMPORTANT — PLEASE READ. These Terms form a legally binding agreement between you and the Promoter. By registering for, entering, or otherwise participating in the Competition, you agree to be bound by them. NO PURCHASE NECESSARY. ENTRY IS FREE.
01The Competition
1.1 The "Billion Pound Build UK" (the "Competition") is a skill-based prize competition run by Perplexity AI, Inc. (the "Promoter"). It is not a lottery, prize draw, or game of chance. Entries are judged on merit against the criteria set out in section 6 below.
1.2 By entering the Competition, entrants agree to be bound by these Terms and Conditions (the "Terms"). The Promoter's decisions on all matters relating to the Competition including eligibility, administration, judging, winner selection, verification, and prize fulfilment are final, subject to applicable law.
02Competition Period
2.1 The Competition is announced and opens for registration on 8 June 2026 at 10:00 BST and runs in two phases.
(a) Phase 1 (Pitch). Pitch registration opens on 8 June 2026 at 10:00 BST. The Phase 1 submissions window closes on 6 July 2026 at 23:59 BST. Phase 1 is free, open to all eligible entrants, and does not require any use of Perplexity Computer or any Perplexity subscription.
(b) Phase 2 (Build). Up to twenty (20) Phase 1 entrants will be invited by the Promoter to Phase 2 (the "Finalists"). The Phase 2 Build Period runs for eight (8) weeks, from 20 July 2026 to 14 September 2026 at 23:59 BST (the "Build Period"). Final Phase 2 submissions must be made by the close of the Build Period (the "Submissions Window"). A live finalist pitch event (the "Live Reveal") is scheduled for 23 September 2026; Finalists may be required to attend.
All dates are indicative and subject to change at the Promoter's reasonable discretion.
2.2 Finalists may begin building from the date the Promoter confirms their Finalist status. No build activity is required (or judged) in Phase 1.
2.3 The Promoter reserves the right to extend, shorten, suspend, modify or cancel the Competition at any time where reasonable circumstances require, provided that any such change does not unfairly disadvantage entrants.
03Eligibility
3.1 The Competition is open to individuals and entities meeting all of the following criteria:
(a) Individual entrants: must be 18 years of age or older at the date of entry, resident in the United Kingdom (England, Scotland, Wales, or Northern Ireland), and legally permitted to participate in skill-based competitions in their place of residence.
(b) Entity entrants: must be a company, limited liability partnership, or other legal entity incorporated or registered in the United Kingdom or in another jurisdiction acceptable to the Promoter, with at least one founder or principal who meets the criteria in paragraph 3.1(a).
3.2 Teams may consist of up to two individuals. Where a team enters, each team member must individually meet the eligibility criteria.
3.3 The following persons are not eligible to enter:
(a) Employees, contractors, officers, and directors of Perplexity AI, Inc. and its affiliates; (b) immediate family members (parent, child, sibling, spouse, or domestic partner) of persons in paragraph 3.3(a); (c) persons involved in the design, judging, or administration of the Competition; (d) any person whose participation would create, in the Promoter's reasonable opinion, a real or apparent conflict of interest; and (e) persons residing in any jurisdiction where participation in the Competition is prohibited by applicable law.
3.4 The Promoter may require proof of eligibility at any time and may disqualify any entrant who fails to provide satisfactory evidence. By registering, entering, or participating, you (herein referred to as "participant", "entrant", or "you") accept these Terms on your own behalf and, where applicable, on behalf of your team or entity. Where you register on behalf of a team or entity, you represent and warrant that you have authority to bind all team members and/or the entity to these Terms. Each team member is individually bound by, and responsible for compliance with, these Terms.
04How to Enter
4.1 To enter, eligible entrants must:
(a) Phase 1: Complete the Competition entry form at billionpoundbuild.pplx.app and submit a project pitch describing the business the entrant intends to build using Perplexity Computer. The Phase 1 pitch may be submitted in any reasonable format permitted by the entry form. No use of Perplexity Computer is required to enter Phase 1; (b) Phase 2 (Finalists only): build and submit the project during the Build Period using Perplexity Computer, in accordance with section 5; (c) provide all information requested by the Promoter at each phase; (d) agree to these Terms; and (e) comply with any additional submission requirements published on the Competition website.
4.2 No purchase is necessary to enter. Entry is free.
4.3 Phase 2 access to Perplexity Computer. Entrants do not need to have an existing Perplexity Pro or Max subscription to enter Phase 1. Finalists invited to Phase 2 will receive a complimentary Perplexity Max subscription, provided by the Promoter at no cost to the Finalist, for the duration of the Build Period. No card is required, and the subscription does not auto-renew. Finalists must accept the complimentary subscription and maintain it as active throughout the Build Period in order to participate. Finalists who decline the complimentary subscription, or whose subscription is suspended due to a breach of Perplexity's terms of service, will forfeit their Finalist position, and the Promoter may, at its discretion, select an alternate Finalist. The Promoter may also, in its sole discretion, grant additional Perplexity Computer credits to Finalists during the Build Period; no entrant is entitled to such credits and any allocation is determined by the Promoter on a case-by-case basis.
4.4 Only one entry per individual or entity is permitted. Multiple entries from the same individual or entity will be disqualified.
4.5 Entries that are incomplete, illegible, fraudulent, or submitted by automated means will be disqualified.
05Prize
5.1 The Competition prize pool is £1,000,000 in Perplexity Computer credits (the "Prize Pool"), to be awarded to one, two, or three winning entrants as determined by the judging panel.
5.2 The Prize Pool will be allocated as follows:
(a) If one winning entrant is selected, that entrant receives the full £1,000,000 in Computer credits; (b) If two winning entrants are selected, the Prize Pool is split equally (£500,000 in Computer credits each); (c) If three winning entrants are selected, the Prize Pool is split equally (£333,333 in Computer credits each).
5.3 The judging panel reserves the right to decline to award the Prize Pool, in whole or in part, if no entry meets the judging criteria to a standard the panel determines is sufficient. In such case, no prize will be awarded.
5.4 Credit usage and restrictions:
(a) Computer credits are non-transferable and have no cash value. They cannot be exchanged, sold, or assigned to any third party. (b) Credits may be used solely on Perplexity Computer and associated Perplexity services as designated by the Promoter. (c) Credits expire eighteen (18) months after the date of award. Unused credits at expiry are forfeit. (d) Credits are subject to Perplexity's standard terms of service for the relevant service, which apply alongside these Terms.
5.5 Taxes. All taxes, duties, and other governmental charges arising from a winner's receipt of the prize is the sole responsibility of the winner. As a condition of receiving any prize, each potential winner agrees to provide to the Promoter any documentation required by the Promoter for compliance with applicable tax regulations. Failure to provide requested documentation may result in forfeiture of the prize and selection of an alternate winner. Winners are advised to consult their own tax advisor regarding the consequences of accepting any prize.
5.6 No cash alternative. No cash or alternative prize is available. The prize is non-refundable, awarded "as is" and, except to the extent required by law, the Promoter gives no representation or warranty in relation to the prize, its availability, suitability, performance, or fitness for any particular purpose.
5.7 No investment or equity. The prize consists solely of Computer credits as described above. No equity, investment, securities, or other financial instrument is offered as part of this Competition. The Competition is not a financial promotion within the meaning of section 21 of the Financial Services and Markets Act 2000, and nothing in these Terms or any Competition communication constitutes an offer to sell or a solicitation to buy any securities.
06Judging
6.1 Entries will be judged by a panel appointed by the Promoter (the "Judging Panel"). Panel members will be identified on the Competition website following Competition close.
6.2 Phase 1 judging. Phase 1 pitches will be judged on: (a) clarity and ambition of the proposed business; (b) feasibility of executing the project using Perplexity Computer within the Phase 2 Build Period; (c) commercial viability and business potential; and (d) quality of the pitch submission. The Judging Panel will use Phase 1 judging to select up to twenty (20) Finalists to invite to Phase 2.
Phase 2 judging. Phase 2 final submissions will be judged on the following criteria, each weighted equally unless stated otherwise on the Competition website:
(a) Technical ambition and originality of the proposed build; (b) Quality and feasibility of execution during the Build Period; (c) Demonstrated use of Perplexity Computer to deliver the proposed outcome; (d) Commercial viability and business potential; and (e) Quality of the final submission and presentation.
6.3 The Promoter may authorise the Judging Panel to access, review, and evaluate all Perplexity Computer queries, prompts, task outputs, workflow data, and related account activity associated with the entrant's registered account during the Competition period, for the purposes of judging and verification. This authorisation is a condition of participation and is processed in accordance with section 9.
6.4 The Judging Panel's decisions are final. No correspondence will be entered into regarding judging outcomes.
6.5 The Promoter reserves the right to invite a shortlist of entrants to present to the Judging Panel as part of a final selection process. Shortlisted entrants will be notified of the format, timing, and any travel arrangements separately.
07Winner notification and prize fulfilment
7.1 Winners will be notified by the email address provided on the entry form within fourteen (14) days following the close of the Build Period on 14 September 2026. If a winner cannot be contacted, does not respond, or does not accept the prize within fourteen (14) days of notification, the Promoter reserves the right to withdraw the prize and select an alternate winner.
7.2 Winners may be required to:
(a) Verify their identity, age, residence and eligibility; (b) Sign a winner's declaration confirming compliance with these Terms; (c) Participate in reasonable post-Competition publicity, including providing a photograph, biographical details, and a brief description of the winning project for use in Promoter publicity. Publicity participation requirements will be reasonable and disclosed at the time of notification.
7.3 A selected entrant is not confirmed as a winner until all required verification and documentation steps have been completed to the Promoter's reasonable satisfaction. Where an alternate winner is selected, this section 7 applies to that alternate in the same way.
7.4 The Promoter will publish the surname and county of each winner on the Competition website or make this information available by writing to the Promoter's address above, in accordance with CAP Code rule 8.28.5.
08Intellectual property and use of submissions
8.1 Entrants retain all intellectual property rights in their submissions, including any underlying business, code, designs, or concepts. The Promoter does not claim ownership of any intellectual property in an entrant's submission.
8.2 By entering, each entrant grants the Promoter and its affiliates a worldwide, non-exclusive, royalty-free, sublicensable licence to use, publish, display and communicate the entrant's name, company and product name, logo, likeness, image, social media handle(s), photographs, biographical information, screenshots, product/demo videos, submission materials, and Perplexity Computer query excerpts, for purposes of administering and judging the Competition and for Competition-related publicity, editorial, marketing, and promotional purposes, in any media.
8.3 Entrants warrant that:
(a) Their submission is their own original work or that they have all necessary rights to submit it; (b) The submission does not infringe the intellectual property, privacy, or other rights of any third party; and (c) Use of the submission as contemplated by these Terms will not give rise to any third-party claim.
8.4 The Promoter is not obliged to acquire, develop, invest in, or commercialise any submission. Entry does not create any partnership, joint venture, employment, or fiduciary relationship between the entrant and the Promoter.
09Confidentiality and Data Protection
9.1 Submissions are not treated as confidential. Do not submit information you consider a trade secret, highly sensitive proprietary information, or any material that is owned by or subject to the rights of third parties. Submission materials may be shared internally with judges, employees, advisers, contractors, and legal counsel engaged by or in connection with the Promoter.
9.2 Participation does not restrict the Promoter or its affiliates from independently developing, creating, or pursuing products, services, or ideas similar to or competitive with any submission. The Promoter may receive many submissions that are similar or identical in theme, idea, or format. You agree not to assert any claim against the Promoter or its affiliates based on the similarity of any independently developed or other work to your submission, and that no compensation is due in connection with any such work.
9.3 The Promoter is the controller of personal data collected through the Competition. Personal data will be processed in accordance with the Perplexity Privacy Policy and applicable UK data protection law, including the UK GDPR and the Data Protection Act 2018.
9.4 Lawful bases for processing:
(a) Entry data is processed on the basis that processing is necessary for the performance of a contract (these Terms) with the entrant; (b) Marketing communications, if any, are processed on the basis of the entrant's separate, freely given consent obtained at the point of entry.
9.5 Entrants may withdraw marketing consent at any time without affecting their participation in the Competition.
9.6 Personal data will be retained for the period necessary to administer the Competition and any related obligations, and thereafter as required by law.
10Disqualification
10.1 The Promoter may disqualify any entrant who:
(a) Fails to comply with these Terms; (b) Provides false, misleading, or incomplete information; (c) Engages in any conduct that the Promoter reasonably considers to be unfair, fraudulent, abusive, or harmful to the integrity of the Competition; (d) Attempts to manipulate the entry or judging process; or (e) Becomes ineligible at any point during the Competition.
10.2 Where a disqualified entrant has already received any benefit from the Competition (including credits), the Promoter reserves the right to recover or revoke that benefit.
11Representations and Warranties
11.1 By participating, you represent and warrant that: (a) you meet all eligibility requirements; (b) all information you provide is truthful, accurate, and complete; (c) you own or have obtained all rights, licences, and permissions necessary for all content in your submission; (d) your submission does not violate any applicable law or any third-party rights (including intellectual property, privacy, and publicity rights), employer policy, export control, or sanctions regime; (e) any traction claims, metrics, or data you submit can be substantiated with supporting documentation on request; and (f) your submission does not contain pornographic, gambling-related, weapons-related, malicious, unlawful, infringing, false, defamatory, deceptive, or privacy-invasive content.
12Liability, Release and Indemnity
12.1 Nothing in these Terms limits or excludes the Promoter's liability for:
(a) Death or personal injury caused by negligence; (b) Fraud or fraudulent misrepresentation; or (c) Any other liability that cannot be limited or excluded under applicable law.
12.2 Subject to paragraph 12.1, the Promoter's total liability to any entrant under or in connection with the Competition is limited to the value of the prize if any that the entrant would have received had they won.
12.3 The Promoter is not responsible for:
(a) Entries that are lost, delayed, corrupted, or not received due to technical failures or causes outside the Promoter's reasonable control; (b) Any cost, loss, or damage suffered by an entrant in preparing or submitting an entry; or (c) Any third-party services, platforms, or tools used by entrants in connection with their submission.
12.4 Subject to paragraph 12.1 and to the extent permitted by law, you release the Promoter and its affiliates, officers, directors, employees, agents, contractors, judges, and advisers (the "Released Parties") from claims arising out of or related to your participation, submission, judging, selection, use of submitted materials and likeness, or receipt or use of any prize.
12.5 To the extent permitted by law, you agree to indemnify and hold harmless the Released Parties against claims, liabilities, losses, costs, and reasonable expenses arising out of: your submission or participation; any infringement of third-party rights; any misrepresentation; any violation of applicable law; or any breach of these Terms. This does not apply to liability that cannot lawfully be excluded, and is subject to any rights you have as a consumer.
12.6 Participation does not create any employment, partnership, joint venture, agency, fiduciary, confidential, or advisory relationship between any entrant and the Promoter or its affiliates.
13Changes and termination
13.1 The Promoter reserves the right to amend these Terms or to suspend, modify, or terminate the Competition at any time where reasonable circumstances require, including for legal, regulatory, technical, or operational reasons.
13.2 Any material changes to these Terms will be published on the Competition website. Continued participation following publication of a change constitutes acceptance of the revised Terms.
14Governing law and jurisdiction
14.1 These Terms and any dispute or claim arising out of or in connection with them or the Competition are governed by and construed in accordance with the laws of England and Wales.
14.2 The courts of England and Wales have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms or the Competition, except that an entrant resident in Scotland or Northern Ireland may bring proceedings in their local courts where applicable consumer protection law requires.
15Contact and complaints
15.1 For questions about the Competition, contact: [email protected].
15.2 Complaints about the conduct of the Competition should be sent in writing to the Promoter's email address above. The Promoter will respond within 30 days.
15.3 A copy of these Terms will remain available on the Competition website during the Competition Period and for a reasonable period afterwards.
Promoter: Perplexity AI, Inc., 575 Market Street, San Francisco, CA 94105, USA, acting through its UK activities. Contact: [email protected].