Participants understand, acknowledge and agree that HEI is a non-profit institution, formed for the purpose of educating entrepreneurs on various aspects of starting a business. HEI is not an investor, broker, dealer or finder. In the event that a participant enters into a transaction with an investor attending an HEI pitch event, conference or otherwise, such participant and investor shall proceed on their own terms, at their own risk and without the advice, opinion or approval of HEI regarding the merits of the investment, compliance with applicable securities laws or any other matter.