What terms do we offer companies applying to GovStart?
- Long term commitment: PUBLIC asks for warrants in every GovStart company. We do this when we back a company because we want to be involved for the long run, supporting and representing our portfolio in front of governments for many years
- We grow if you grow: The price per share for our warrants is based upon your most recent valuation. This means that we only benefit when we start adding value to your company and help increase your valuation.
- KPI driven commercial terms: We don’t get any warrants up front. Typically, the first tranche of warrants will only vest when we have delivered the programme. The second tranche will be dependent upon completion of programmes objectives that we set with each company. These objectives must be core to the company’s strategy, which commercially ties PUBLIC in to helping you achieve the things that are most important to you.
- Bespoke agreement: The commercial agreement that we set with you is based on the stage you are at and the level of support that you require from us. We don’t have a “one size fits all” approach, and we make sure that each founder is comfortable with the terms that we set together.
- No preferential rights: We do not take any preferential rights, which means: no waterfalls, voting rights, anti-dilution or anything else you will see in preferential shares. We convert into ordinary shares.