Subscribe
Urban Company & MyStartupEquity Open Source An ESOP Framework

Urban Company & MyStartupEquity Open Source An ESOP Framework

Urban Company in collaboration with MyStartupEquity has developed the  open-source ESOP framework, which is available free of cost and can be accessed by one and all.

 

With ESOP implementation generally being a tedious process, Urban Company and MyStartupEquity aim to provide a proper guide through this open source framework to help startups as well as private companies better structure terms and conditions and roll out ESOPs with the ingrained intention of sharing ownership with employees that eventually leads to wealth creation. 

 

Urban Company worked with MyStartupEquity to make the open-source ESOP framework freely available. This framework can be used and modified by companies or startups while building their ESOP policy. This framework is a legally vetted document and the cornerstone of the policy is having simple vesting terms, a reasonable exercise price on options and a generous exercise period. The framework also comes with easy to use templates for grant and exercise letters.

 

Abhiraj Bhal, Co-Founder, Urban Company, said “Urban Company has created substantial value for its employees through ESOPs, conducting three secondary sales in less than six years for existing employees worth nearly $8mn. We believe a robust, employee-friendly ESOP programme is one of the pivotal pillars in attracting and retaining talent and building team morale. We now want to extend this framework to budding entrepreneurs and lend a helping hand in their entrepreneurial journey.”

 

Sanjay Jha, Co-founder & CPO, MyStartup Equity stated, “Talent is the most important growth driver for a startup. Therefore, it’s not only important to attract top talent but also to retain and reward them and we have seen ESOPs play a very important role here. We are happy to collaborate with Urban Company in developing this ESOP framework which helps startups in India adopt not only an employee friendly policy but also addresses the interests from the company’s side as well. ”

 

Comment

0/3000 Free Article Left >Subscribe