Speed2Seed Terms and Conditions for Investors

Last Updated: February 2026

Welcome to Speed2Seed! Thank you for your interest in investing in the next generation of HealthTech and FinTech startups. Before you register as an investor, please read these Terms and Conditions carefully. By signing up online and participating in the programme, you acknowledge that you have read, understood, and agree to be bound by these terms.

1. About Speed2Seed

Speed2Seed is a 14-week startup accelerator programme operated by Xamun.AI ("we", "us", "Xamun", or "Speed2Seed"). We support HealthTech and FinTech founders in validating their ideas and building their Version 1 products through systematic customer discovery and technical execution support.

Speed2Seed facilitates connections between validated startups and qualified investors through two Demo Days: Angel Demo Day (Week 2) for pre-seed funding and Seed Demo Day (Week 14) for seed-stage funding.

2. Investor Eligibility and Registration

2.1 Who Can Register as an Investor

You may register as a Speed2Seed investor if you:

• Are at least 18 years of age (or 21 years of age in jurisdictions where required for investment activities)

• Have the legal capacity to enter into investment agreements

• Are an accredited investor, qualified investor, or otherwise meet applicable securities regulations in your jurisdiction

• Acknowledge the high-risk nature of early-stage startup investments

• Can attend Demo Days either in person or remotely

2.2 Angel Investors

If you are registering as an angel investor, you should:

• Have minimum investment capacity of $50,000 per startup at Angel Demo Day

• Have ready funds available for deployment at Angel Demo Day (Week 2)

• Be prepared to make investment decisions within the programme timeline

• Typically invest in 2-4 startups per cohort to build a diversified portfolio (total commitment $100K-$200K per cohort)

2.3 Venture Capital Firms

If you are registering as a venture capital firm representative, you should:

• Have authority to evaluate investment opportunities on behalf of your fund

• No minimum investment requirement to participate

• No commitment to invest required for participation

• May participate as judges at Angel Demo Day (Week 2) to evaluate pre-seed opportunities

VCs typically engage more heavily at Seed Demo Day (Week 14) when startups have demonstrated traction and revenue.

2.4 Domain Expertise

Domain expertise in HealthTech or FinTech is helpful but not required. Speed2Seed provides domain context and sector-specific resources. Your role is evaluating founder quality, market opportunity, business fundamentals, and investment potential.

2.5 Registration Process

When you register as an investor, you grant us permission to:

• Review and verify your investor status and qualifications

• Contact you about Demo Day schedules and startup cohorts

• Share your investor profile (name, firm, photo/logo, investment focus) with programme founders during fundraising

• Include your name, photo/firm logo, and profile in Speed2Seed investor directories and promotional materials

• Display you on investor listings (e.g., "Angel Investors", "VC Partners") on the Speed2Seed website

• Use anonymised data about investment activities for programme improvement and reporting

We reserve the right to approve or decline investor registrations at our sole discretion based on programme needs and investor qualifications.

3. Demo Days and Investment Opportunities

3.1 Two Demo Days

Speed2Seed facilitates two Demo Days per cohort:

Angel Demo Day (Week 2):

• Timing: End of Week 2 of the programme

• Stage: Pre-seed funding opportunities

• Typical valuations: $2M-$5M

• Typical funding range: $50K-$200K per startup

• Focus: Problem validation completed, early customer commitments, prototype or design specifications ready

Seed Demo Day (Week 14):

• Timing: End of Week 14 of the programme

• Stage: Seed funding opportunities

• Typical valuations: $3M-$8M

• Typical funding range: $500K-$3M per startup

• Focus: Version 1 product launched, $100K+ ARR demonstrated, proven traction and product-market fit

3.2 Demo Day Participation

Investors may:

• Attend either or both Demo Days

• Participate remotely via video (though in-person attendance is strongly encouraged)

• Access pitch decks and materials distributed by founders

• Interact with founders during booth sessions and networking

• Request follow-up meetings with specific startups

Remote participation: We accommodate international investors via video conferencing. However, in-person attendance provides access to prototype demonstrations and deeper interactions that aren't available remotely.

3.3 VC Judging Participation

Venture capital firms may be invited to participate as judges at Angel Demo Day. Judging responsibilities may include:

• Evaluating startup pitches and providing feedback

• Scoring presentations based on provided criteria

• Offering constructive guidance to founders

• Participating in judging panel discussions

Judging does not require investment commitment. VCs may evaluate opportunities at Angel Demo Day without obligation to invest.

3.4 Investment Process

All investment decisions, terms, and documentation are negotiated directly between investors and founders:

• Speed2Seed facilitates introductions and provides Demo Day infrastructure

• Investment terms, valuations, and conditions are determined by investors and founders independently

• Speed2Seed does not negotiate on behalf of either party

• Speed2Seed is not party to investment agreements

• All funding prerequisites (LOIs, SAFEs, convertible notes, term sheets, investment contracts, etc.) are between investors and startups only

• Speed2Seed does not facilitate, draft, review, or execute any investment documents

• Optional guidance on investment structures may be provided if requested and capacity permits, but this does not constitute legal or financial advice

You are responsible for engaging your own legal and financial advisers to structure and execute investments.

3.5 Pro-Rata Rights and Preferential Terms

Angel Demo Day investors (Week 2) typically receive:

• Pro-rata rights to participate in Seed Demo Day funding (Week 14)

• Preferential terms and information rights for follow-on investments

• Early access to traction data and progress updates

Early support is rewarded with advantageous terms in later funding rounds.

3.6 Institutional-Grade Due Diligence

At Seed Demo Day (Week 14), startups provide institutional-grade data rooms two weeks before Demo Day, including:

• Financial statements and revenue data

• Customer contracts and testimonials

• Product documentation and technical specifications

• Cap table and existing investor information

• Legal documentation and compliance records

Most VCs complete diligence in 2-3 weeks for Speed2Seed startups (compared to 4-6 weeks for typical seed-stage investments).

4. No Guaranteed Investment Outcomes

4.1 Investment Decisions Are Independent

Speed2Seed does not guarantee:

• That you will find suitable investment opportunities

• That startups will accept your investment offers

• That any specific number of startups will be available for investment

• The quality, viability, or success of any startup

• That startups will achieve their projections or business goals

Investment decisions rest entirely with you. Speed2Seed's role is facilitation, not endorsement.

4.2 Historical Success Rates

Speed2Seed has historically seen:

• 70-85% of startups successfully raise angel funding at Week 2

• 50-70% of startups successfully raise seed funding at Week 14 (within 6 months post-programme)

Past performance does not guarantee future results. These statistics are provided for informational purposes only and should not be relied upon as investment advice.

4.3 Startup Failure Risk

If a startup fails to reach its minimum viable funding amount:

• Funds are typically returned to investors (subject to individual investment agreement terms)

• Investor protection mechanisms are built into standard fundraising structures

• However, Speed2Seed is not responsible for fund returns or investment outcomes

4.4 Post-Demo Day Outcomes

Startups that do not successfully raise at Demo Days may:

• Continue operating with alternative funding sources

• Raise capital 3-6 months later with additional traction

• Pivot to new opportunities or wind down operations

Speed2Seed maintains an alumni network and may facilitate later-stage introductions, but we do not guarantee ongoing fundraising support.

5. Time Commitment and Participation

5.1 Minimal Time Commitment

Investor time commitment is minimal:

• Demo Day attendance: One session per Demo Day (typically 3-4 hours)

• Due diligence: Self-directed based on your investment process

• Optional check-ins: If you invest, optional monthly check-ins with portfolio companies (30-60 minutes)

Some investors choose to mentor startups more actively, but this is entirely optional.

5.2 No Operational Involvement Required

As an investor, you are not required to:

• Provide operational support or mentorship to startups

• Attend programme sessions or workshops

• Participate in ongoing company operations

• Serve on boards or advisory committees (unless separately negotiated)

Your involvement is at your discretion based on your investment strategy and availability.

6. Investor Conduct and Professional Standards

6.1 Code of Conduct

All investors must adhere to Speed2Seed's Code of Conduct, which includes:

• Treating founders, fellow investors, mentors, and partners with respect and professionalism

• Conducting due diligence fairly and transparently

• Honouring confidentiality obligations (as outlined in Section 7)

• Avoiding conflicts of interest that could harm founders or the programme

• Complying with all applicable securities laws and regulations

• Refraining from predatory or exploitative investment practices

6.2 Fair Dealing

Investors agree to:

• Negotiate investment terms in good faith

• Provide timely responses to founders during fundraising windows

• Not use Speed2Seed access to gain unfair competitive advantages

• Not recruit founders or teams for competing ventures without disclosure

• Respect founders' autonomy and decision-making authority

6.3 Conflicts of Interest

You must disclose any actual or potential conflicts of interest, including:

• Investments in competing companies in the same market

• Relationships with founders that could compromise objectivity

• Obligations to other investors or funds that might conflict with participation

• Business relationships with programme partners that could create conflicts

6.4 No Solicitation of Other Investors' Portfolio Companies

Investors agree not to solicit, recruit, or attempt to hire founders or key team members from startups in which other Speed2Seed investors have invested without prior disclosure and consent.

6.5 Removal for Misconduct

In the unlikely event that an investor's behaviour or actions are incompatible with the programme, Speed2Seed may remove investors from the programme for:

• Violation of these Terms and Conditions or the Code of Conduct

• Breach of confidentiality obligations

• Professional misconduct or behaviour harmful to founders

• Predatory investment practices or exploitation of programme access

• Violation of applicable securities laws or regulations

Removal Process:

1. Speed2Seed will notify you via email at your registered address

2. Removal is effective immediately upon notification

3. Your name, photo/logo, and profile will be removed from all investor listings, promotional materials, and the website within 5 working days

4. You will no longer receive Demo Day invitations or access to the investor network

5. You must cease representing yourself as a Speed2Seed investor in any marketing or communications

Consequences of Removal:

• Immediate loss of access to investor network, Demo Days, and startup introductions

• You may not participate in future Speed2Seed cohorts or events

• Any existing investments you have made remain subject to your individual investment agreements with startups

• Confidentiality obligations continue to apply to all information received during your participation

These provisions exist to protect the integrity of the programme and the interests of all participants. Removal decisions are made at Speed2Seed's sole discretion and are final.

6.6 Voluntary Withdrawal

You may withdraw from the Speed2Seed investor network at any time by following this process:

Withdrawal Process:

1. Send written notice to [email protected] stating your intention to withdraw

2. Withdrawal becomes effective 5 working days after we receive your notice

3. During this 5-day period, we will remove your name, photo/logo, and profile from investor listings, promotional materials, and the website

4. You will no longer receive Demo Day invitations or startup introductions

What Happens After Withdrawal:

• You will no longer have access to Speed2Seed's investor network or alumni company updates

• Any existing investments you have made remain subject to your individual investment agreements with startups

• Historical references to your participation (e.g., past Demo Day attendee lists, published materials) may remain

• You may re-apply to join the investor network in the future

Withdrawal does not affect any obligations under confidentiality agreements or investment contracts with individual startups.

7. Confidentiality and Proprietary Information

7.1 Confidential Information

As an investor, you may have access to sensitive information about startups, including:

• Business strategies, plans, and financial projections

• Customer data, validation findings, and market research

• Product roadmaps, technical specifications, and intellectual property

• Cap tables, investor information, and fundraising plans

• Personal information about founders and team members

7.2 Confidentiality Obligations

You agree to:

• Keep all startup information strictly confidential

• Not disclose confidential information to third parties without the founder's explicit written consent

• Use confidential information only for evaluating investment opportunities

• Not use confidential information for your own commercial benefit outside of legitimate investment activities

• Return or destroy confidential materials upon request

These confidentiality obligations:

• Apply to all startups you evaluate, whether or not you invest

• Survive the termination of your participation in Speed2Seed

• Continue indefinitely or until information becomes publicly available through no fault of your own

7.3 Exceptions to Confidentiality

You may disclose confidential information if:

• Required by law, court order, or regulatory authority (with prior notice to the founder where possible)

• The information becomes publicly available through no breach of confidentiality

• You receive explicit written permission from the founder

• Disclosed to your investment committee or fund partners under similar confidentiality obligations

7.4 Permitted Sharing Within Investment Firms

You may share confidential information with:

• Investment committee members for investment decision-making

• Fund partners and limited partners (LPs) under confidentiality obligations

• Legal and financial advisers assisting with due diligence (under confidentiality obligations)

7.5 Non-Disclosure Agreements

Founders may require separate Non-Disclosure Agreements (NDAs) for particularly sensitive information. You agree to execute reasonable NDAs as requested by founders during due diligence.

8. Investment Risk Disclosures

8.1 High-Risk Nature of Early-Stage Investing

Early-stage startup investing is extremely high-risk. You acknowledge and accept that:

• Most startups fail: Typical angel portfolios see 50-70% complete losses

• Modest returns are common: 20-30% of investments yield modest returns

• Significant successes are rare: Only 5-10% of investments generate substantial returns

• Illiquidity: Early-stage equity is highly illiquid with no guarantee of exit events

• Total loss is possible: You may lose your entire investment in any given startup

8.2 No Guarantee of Returns

Speed2Seed does not guarantee:

• Any financial returns on investments

• Successful exits (acquisitions, IPOs) for portfolio companies

• Liquidity events within any specific timeframe

• That startups will achieve product-market fit or revenue goals

• Protection from dilution in future funding rounds

8.3 Validation Reduces But Does Not Eliminate Risk

Whilst Speed2Seed's systematic validation process reduces failure rates compared to typical early-stage ventures, validation does not eliminate risk:

• Market conditions may change after validation

• Execution challenges may emerge during scaling

• Competition may intensify unexpectedly

• Regulatory or macroeconomic factors may impact viability

8.4 Accredited Investor Requirements

You represent and warrant that you meet accredited investor, qualified investor, or equivalent standards in your jurisdiction. Early-stage investing involves substantial risk and may not be suitable for all investors.

8.5 Diversification Recommended

Speed2Seed strongly encourages portfolio diversification:

• Angel investors typically invest in 2-4 startups per cohort

• Portfolio construction reduces concentration risk

• Single-investment strategies are discouraged due to high failure rates

However, even diversified portfolios may experience losses.

9. Intellectual Property and Founder Rights

9.1 Founder IP Ownership

All intellectual property created by startups belongs entirely to the founders and their companies. As an investor, you do not acquire:

• Ownership of IP, technology, or products through programme participation

• Rights to use, license, or exploit founder IP outside of legitimate investment relationships

• Claims to business concepts, strategies, or proprietary information

9.2 Equity vs. IP Rights

If you invest in a startup:

• You receive equity ownership in the company per your investment agreement

• Equity ownership does not grant IP rights separate from your shareholder status

• IP rights remain with the company, subject to standard corporate governance

9.3 Respect for Founder Autonomy

You acknowledge that founders retain full control over their businesses and intellectual property. Investment does not grant operational control unless explicitly negotiated in investment agreements.

10. Speed2Seed's Role and Limitations

10.1 Facilitation, Not Endorsement

Speed2Seed's role is to facilitate connections between investors and startups. We do not:

• Endorse or recommend specific startups for investment

• Conduct due diligence on behalf of investors

• Verify the accuracy of information provided by startups

• Guarantee the quality, viability, or success of any startup

• Act as financial advisers or investment advisers

• Draft, review, negotiate, or execute investment documents (LOIs, SAFEs, term sheets, contracts, etc.)

• Facilitate signing of any investment agreements or funding prerequisites

• Provide legal or financial advice (any guidance offered is informational only)

Optional informal guidance on investment processes may be provided if requested and capacity permits, but Speed2Seed is not responsible for investment outcomes or documentation.

10.2 No Fiduciary Duty

Speed2Seed does not owe fiduciary duties to investors. We operate as a neutral facilitator and do not act as your agent, adviser, or representative.

10.3 Investment Decisions Are Your Responsibility

You are solely responsible for:

• Conducting your own due diligence on startups

• Evaluating investment risks and opportunities

• Negotiating investment terms with founders

• Engaging legal and financial advisers to draft and review investment documents

• Managing all investment documentation (LOIs, SAFEs, term sheets, contracts, closing documents)

• Complying with applicable securities laws and regulations

• Managing your investment portfolio

10.4 No Speed2Seed Equity in Startups

Speed2Seed takes zero equity in participating startups. We do not have financial interests that could create conflicts with investors or founders.

11. Programme Access and Alumni Network

11.1 Multi-Cohort Participation

Investors may:

• Participate in multiple cohorts across different cities

• Build geographically diversified portfolios within HealthTech and FinTech sectors

• Attend Demo Days in Seattle, London, Singapore, Manila, and other locations

• Access startups from global cohorts

11.2 Alumni Network Access

Investors receive access to Speed2Seed's alumni network, including:

• Quarterly portfolio updates on alumni company performance (aggregate data)

• Introductions to alumni companies raising follow-on rounds

• Invitations to alumni events and ecosystem gatherings

• Updates on new cohort launches in additional cities

11.3 Active Partnership Opportunities

Investors who engage regularly with Speed2Seed may qualify as "Active Partners," receiving:

• Enhanced access to deal flow and startup introductions

• Opportunities to speak at programme events

• Detailed performance data on portfolio cohorts (under NDA)

• Priority invitations to exclusive investor events

Contact us at [email protected] to discuss Active Partnership.

11.4 Series A and Follow-On Opportunities

Startups typically raise Series A funding 12-18 months post-programme. Speed2Seed maintains relationships with alumni companies and facilitates introductions for later-stage rounds. However, Seed Demo Day investors receive preferential terms and information rights.

12. Data Protection and Privacy

12.1 Personal Data Collection

Speed2Seed collects and processes your personal data in accordance with applicable data protection laws, including the UK General Data Protection Regulation (UK GDPR) where applicable.

Data we collect includes:

• Registration information (name, contact details, firm, investment focus)

• Demo Day attendance and participation records

• Investment activity data (anonymised for programme reporting)

• Communication records (emails, meeting notes)

12.2 How We Use Your Data

Your personal data is used to:

• Administer investor registration and Demo Day participation

• Facilitate introductions to startups

• Communicate programme updates and cohort launches

• Produce anonymised programme reports and impact assessments

• Improve programme quality and effectiveness

12.3 Data Sharing

We may share your data with:

• Programme founders during fundraising activities

• Other investors for co-investment opportunities (with your consent)

• Programme partners and service providers (under confidentiality obligations)

• Legal authorities if required by law

We do not sell your personal data to third parties.

12.4 Your Data Rights

You have the right to:

• Access your personal data

• Request correction of inaccurate data

• Request deletion of your data (subject to legal retention requirements)

• Object to certain data processing activities

• Withdraw consent where processing is based on consent

To exercise these rights, contact us at [email protected].

12.5 Data Retention

We retain investor data for as long as necessary to fulfil programme purposes and comply with legal obligations. You may request removal from our investor database at any time.

13. Liability and Disclaimers

13.1 Services "As Is"

Speed2Seed provides Demo Days and investor services "as is" and "as available." We make no warranties or guarantees regarding:

• The quality, viability, or success of startups

• The accuracy of information provided by startups

• Investment returns or outcomes

• The number or quality of investment opportunities at any Demo Day

• Specific results from programme participation

13.2 Limitation of Liability

To the fullest extent permitted by law:

• Speed2Seed, Xamun.AI, and their respective directors, officers, employees, and affiliates shall not be liable for any indirect, consequential, incidental, special, or punitive damages arising from your participation as an investor

• This includes loss of profits, investment losses, business opportunities, or reputation

• Speed2Seed's total aggregate liability to you is limited to $1,000 USD

13.3 Exceptions

Nothing in these Terms limits or excludes liability for:

• Death or personal injury caused by negligence

• Fraud or fraudulent misrepresentation

• Any other liability that cannot be lawfully limited or excluded

13.4 Investment Loss Disclaimer

You acknowledge that:

• Investment losses are your sole responsibility

• Speed2Seed is not liable for any losses arising from investments in startups

• You invest at your own risk based on your own due diligence

• No representations or warranties are made regarding investment outcomes

13.5 Third-Party Actions

Speed2Seed is not responsible for:

• Actions or omissions of startups, founders, or other investors

• Breaches of investment agreements by founders

• Misrepresentations or fraud by startups (though we take measures to prevent this)

• Disputes between investors and founders

14. Indemnification

You agree to indemnify, defend, and hold harmless Speed2Seed, Xamun.AI, and their respective directors, officers, employees, and affiliates from and against any claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising from:

• Your breach of these Terms and Conditions

• Your violation of any law, regulation, or third-party rights

• Your investment activities and decisions

• Disputes between you and startups or other investors

• Your negligent or wrongful acts or omissions

• Misuse of confidential information

This indemnification obligation survives termination of your participation as an investor.

15. Governing Law and Dispute Resolution

15.1 Governing Law

These Terms and Conditions are governed by and construed in accordance with the laws of England and Wales, without regard to conflict of law principles.

15.2 Jurisdiction

Any disputes, claims, or controversies arising from or relating to these Terms or your participation as an investor shall be subject to the exclusive jurisdiction of the courts of England and Wales.

15.3 Informal Resolution

Before initiating formal proceedings, we encourage you to contact us at [email protected] to attempt to resolve disputes informally. Many concerns can be addressed through open communication.

16. General Provisions

16.1 Entire Agreement

These Terms and Conditions constitute the entire agreement between you and Speed2Seed regarding your participation as an investor and supersede all prior communications or agreements.

16.2 Severability

If any provision of these Terms is found invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions remain in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable.

16.3 Waiver

Our failure to enforce any right or provision of these Terms does not constitute a waiver of that right or provision. Any waiver must be in writing and signed by an authorised representative of Speed2Seed.

16.4 Assignment

You may not transfer, assign, or delegate your rights or obligations under these Terms without our prior written consent. Speed2Seed may assign these Terms in connection with a merger, acquisition, corporate reorganisation, or sale of assets.

16.5 Independent Parties

Nothing in these Terms creates a partnership, joint venture, employment, or agency relationship between you and Speed2Seed. You are an independent investor and not an employee, agent, or representative of Speed2Seed or Xamun.AI.

16.6 Survival

Provisions that by their nature should survive termination (including confidentiality obligations, intellectual property provisions, liability limitations, indemnification, and governing law) shall survive the completion or termination of your participation as an investor.

16.7 Force Majeure

Speed2Seed is not liable for any failure or delay in performance due to circumstances beyond our reasonable control, including acts of God, natural disasters, pandemics, war, terrorism, government actions, or infrastructure failures.

17. Amendments to These Terms

17.1 Updates

Speed2Seed reserves the right to update or modify these Terms and Conditions at any time. Changes may be necessary due to:

• Legal or regulatory requirements

• Programme improvements or expansions

• Changes in operational practices

• Feedback from investors and stakeholders

17.2 Notice of Changes

If we make material changes to these Terms:

• We will notify registered investors via email and/or through the Speed2Seed website

• Continued participation after the effective date of changes constitutes acceptance of the updated Terms

• If you do not agree to changes, you may discontinue your participation as an investor

Minor or administrative changes may be made without specific notice, so we encourage you to review these Terms periodically.

18. Contact Information

If you have questions, concerns, or feedback about these Terms and Conditions or the Speed2Seed investor programme, please contact us:

Email: [email protected]
Website: www.speed2seed.com

For urgent matters or Demo Day scheduling, contact your programme director directly.

19. Acknowledgement and Acceptance

By registering online as a Speed2Seed investor, you acknowledge and agree that:

1. You have read and understood these Terms and Conditions in their entirety

2. You have had the opportunity to seek independent legal and financial advice if desired

3. You agree to be bound by these Terms and Conditions

4. You meet accredited investor or equivalent standards in your jurisdiction

5. You understand the high-risk nature of early-stage startup investing

6. You understand that investment decisions are your sole responsibility

7. You will conduct your own due diligence on all investment opportunities

8. You will maintain confidentiality regarding startup information

9. You accept the liability limitations and disclaimers outlined herein

10. You acknowledge that Speed2Seed facilitates connections but does not endorse investments

11. You understand that most early-stage startups fail and you may lose your entire investment

12. You will comply with all applicable securities laws and regulations

If you do not agree to these Terms and Conditions, please do not register as an investor or participate in Speed2Seed Demo Days.

Ready to Discover the Next Big Thing?

Thank you for joining Speed2Seed's investor community! We're excited to connect you with the next generation of HealthTech and FinTech founders who are solving real problems with systematic validation and proven traction.

Whether you're an angel investor building your portfolio or a VC seeking high-quality deal flow, Speed2Seed offers access to startups that have been systematically validated and are backed by experienced mentors.

Register as an investor: www.speed2seed.com

Speed2Seed is operated by Xamun.AI. These Terms and Conditions are effective as of February 2026 and apply to all cohorts launched from this date forward.