FREQUENTLY ASKED QUESTIONS
We're here to connect startups with top-level international service providers that will develop the minimal viable product (MVP).
With our service providers, startups will be able to launch their MVP quicker for less upfront cash. We help them to find service providers who are happy to invest their time. However, we also provide legal support for intellectual property, service and non-disclosure agreements at no cost as part of our offering. Furthermore, we secure the money until milestones of the MVP are achieved and the startup is happy before we transfer the money to the service provider and nurture the relationship between startups and service providers.
Payments always will be handled through ulaunch.me.
You’ll pay ulaunch.me as we’ll secure the money until milestones are achieved, and you’re happy.
You can choose between our vetted top-level international software developers and check their projects and achievements.
Our service providers will quote projects as every other software agency would do.
However, startups can negotiate with service providers on how much they need to pay when milestones are achieved, and how much will be a time investment which startups either can pay back in the future or turn into equity. We recommend to talk to more software agencies and compare their pricing.
It means that you only owe money if there is a favourable result for your startup, such as raising capital, for example.
A contingent fee is any fee for services provided where the fee is payable only if there is a favourable result, which will be a trigger event when you achieve certain milestones with your startup. Most commonly used in legal practice, it may be used in many different fields.
A SAFE (simple agreement for future equity) note is an agreement between a company (e.g. startup) and an investor (in this case, a service provider who invests time) to turn the investment into equity at a particular future event. We understand how important it is to keep equity in your company and will allow you to buy out the service provider without having to give away equity.
A SAFE is an agreement that provides rights to the investor for future equity in the company similar to a warrant, except without determining a specific price per share at the time of the initial investment. The SAFE investor receives the futures shares when a priced round of investment or liquidation event occurs. SAFEs are intended to provide a simpler mechanism for startups to seek initial funding than convertible notes. With our SAFE notes, you’ll have the opportunity to buy out the service provider for a certain amount of time to keep control over your startup.
Yes, you can.
Our contingency fee agreement will be triggered by achieving milestones or at latest after 12 months. After the contingency fee is triggered, you start owing money in form of a SAFE note, and will have 12 months to buy out the service provider. This is something you agree on before you start working together, so everyone is on the same page.
This always depends on your valuation and the amount of money you can’t pay upfront. Use our equity comparison calculator to get an idea of how much this might be and compare it to the impact a cash investment would have on your startup.
Firstly, you won’t give away a fixed amount of equity when engaging with our service providers and ulaunch.me! Secondly, there isn’t a one fits all answer. If you give away equity at all (e.g. If you can buy out a service provider before the one-year period ends, you won’t give away anything), we recommend not to agree on a fixed equity split unless you have enough data to value your company (this usually should be when you raise a series A round). You don’t know what will happen in the future, and how much contribution (cash and non-cash) is required to become a successful business. The amount of equity you might give away depends on the fair market value a service provider has and the amount you can afford to pay. The more you can pay, the less the providers put at risk. Less risk for the service providers means that they if at all, get fewer shares in your startup company in the future. But in any case, you always will give away less compared to cash investment. This simply is because investing time worth US$ 30k isn’t subject to tax implications vs. US$ 30k in cash requires someone to earn more than US$ 30k before tax to be able to have US$ 30k available to invest. The outcome is the same, though, as you still will get your tech product built and will be ready to hit the market quicker.
If at all, the service provider. ulaunch.me will never take any shares.
If you give away any shares at all, the service provider will be the party you’re dealing with in regards to the equity. ulaunch.me will never take any options, slices or shares in your company.
As long as you haven’t given away equity, they don’t have any voting rights. This means that a service provider has to exercise their options, the slicing pie model has to freeze, or an event has to occur with a SAFE note that turns the service providers contribution into equity.
You’re dealing with ulaunch.me as a provider of the business services exchange platform and with the service providers who execute the work you need to get done. Therefore, you’ll have one contract with us that states the relationship between us, and one with the service provider.
We offer consulting services, and we charge fees on the contract volume.
One income stream is consulting. If you need to understand the best approaches and practices for your tech product, we can help with our extensive experience in different areas. This can be specifying the tech requirements for less complex solutions up to in-depth technical research for challenges you’re facing and haven’t found any solutions for yet. Talk to us today if you want to learn more . We also earn money by taking a commission for providing our platform, safety and connecting service providers with startup companies - partly paid by both the startup and the service provider. The service provider a percentage on their earnings (The amount of money we secure before we transfer it to the service providers). The startup pays a percentage on what they save compared to the fair market rate. Please check out our calculator to see the impact on your company. ',
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Whether you are a service provider with excellent skills that can help startups as a partner in success or a founder or team in the early stages or already more advanced that needs alternative support to cash investment, we want to hear from you.
We are a group of founders, former founders and experts in different areas.
Most of us have had our own startups from which some of them are still running and have great success. We're based in Adelaide, but have a global team that is a mix of individuals and companies. This includes a local law firm with offices in Adelaide, Melbourne and Sydney, a software company with offices in Germany, Armenia and the USA and exprets in finance with experience in private equity.Let's Get started!