Startups Anonymous Est. 2013 · Read-only archive
Questions

Indian cofounding in Singapore

I have a Singaporean friend who has been working on a tech-startup for nearly a year now. We recently had a long conference call and he wants me to be the CTO of his company as he currently has an interim CTO with whom things have been going too slowly.

He has disclosed all the company’s financials for the past year and his website, mobile app is up for release. I myself being a tech guy (developer), I have liked his idea and execution and I am willing to take up the post.

The other point is me being an Indian and he being a Singaporean, we have agreed to communicate over skype/ video calls to keep track of where we are heading. What are the agreements I should make with him to protect my role with the company?

1 answer from the community

AAnonymous· Jan 20, 2015

Your role should not be protected. Starting companies with protected roles is a bad idea. It leads to the potential for deadweight. Your protection is delivering results. What you should protect is your upside. Make sure this company is legitimately incorporated. Get equity, in writing, with a specific vesting period. Understand how you can get more over time. Understand the financing plans and whether you agree on them. Get a board seat if you can - more possible if you're considered a cofounder.