All the non winning teams will be working for free for the first 2 weeks? You won't get more than 1 team with this rule. In addition is the 1.25 BTC dependent on them fulfilling the conditions, or is it paid upfront? If it is the former you won't get even 1 team.

In your head you're probably thinking it is a great deal and everyone will be lining up to join but you will be hard pressed to find anyone.