Taking Your Startup To The USA
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Presentation focuses on business and legal challenges of relocating a European startup to the USA. Presentation was given on May 9, 2014 at Betahaus in Sofia, Bulgaria.
Taking Your Startup To The USA
- 1. TAKING YOUR STARTUP TO THE USA Tytus Cytowski, Managing Partner SOFIA, BULGARIA May 9, 2014
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- 3. TYTUS CYTOWSKI Attorney at Law EDUCATION HARVARD LAW SCHOOL (LLM) WARSAW UNIVERSITY (Mag Iur) EXPERIENCE STARTUPS VENTURE FINANCING LICENSING ADVISOR STARTUP WISEGUYS (Estonia) TRACTION TRIBE (Hungary) DEFY VENTURES (NYC) BULGARIAN CLIENTS LIONSHARP 2
- 4. CYTOWSKI LLC Disclaimers Any US federal tax advice contained in this presentation is not intended to be used, and cannot be used, to avoid penalties under the Internal Revenue Code or to promote, market or recommend any transaction or matter addressed herein. This material is for informational purposes only and do not constitute advertising, a solicitation, or legal advice and should not be construed as legal advice for any purpose whatsoever. Information contained herein is not intended to create, and receipt thereof does not constitute formation of, an attorney-client relationship. 3
- 5. WHY GO? 4
- 8. 7 GO GLOBAL
- 11. STARTUP ROADS* *CONNECTING TO THE ECOSYSTEM10
- 12. 11 STARTUP EVENT TC DISRUPT LAUNCH DEMO DAYS MEETUPS
- 16. SUCCESS MATRIX BILLION DOLLAR STARTUP TRACTION ENGAGEMENT/CONVERSI ON GOOD TEAM MVP LOCAL VC CASH FLOW 15
- 17. PAIN POINTS MISSING USER INTERFACE NO BUSINESS PRODUCT NO FOCUS ON CUSTOMER LANGUAGE BARRIERS DIDNT FINISH STANDFORD DIDNT DROP OUT OF COLLEGE 16
- 18. DONT BE SHY ABOUT ASKING FOR BUSINESS CARDS & NETWORKING 17
- 20. DO YOU HAVE AN ENTITY IN BULGARIA? YES/NO 19
- 21. DELAWARE C-CORP FOUNDER VESTING ISSUE SHARES (THE RIGHT WAY) EMPLOYEE OPTION POOL EIN US BANK ACCOUNT 20
- 23. 4 YEAR VESTING ONE YEAR CLIFF (25%) 1/48 PER MONTH LEAVE=LOOSE22
- 24. PARALLEL STRUCTURE** * dont do this at home. Need a lawyer. ** contribute/exchange/transfer shares 23 *
- 26. RESULT = BULGARIAN + DELAWARE COMPANY INTERCONNECTION 25
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- 33. EQUITY SEED OR SERIES A 32
- 35. LOAN + EQUITY PROMISE 20% DISCOUNT MATURITY DATE LIQUIDITY EVENT CONVERSION VALUATION CAP 34
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- 37. 36 DONT FLIP & DRIVE
- 38. UNDERSTAND THE TERM SHEET 37
- 41. OPTION POOL 40
- 43. US VISAS FOR FOUNDERS & KEY EMPLOYEES 42
- 46. LIKE US ON FACEBOOK! www.facebook/cytowskillc FOLLOW ON TWITTER @tcytowski 45