Stage 4: Pre-Seed
Many ventures exist in what’s typically referred to as the “project stage” for what turns out to be an indefinite length of time. The goal of Stage 4 is to legally establish the executive team, officers, board of directors and advisors, as well as institutionalize a commercial, product and fundraising roadmap for the next 6-18 months. By the end of Stage 4, it’s expected that your venture has transcended beyond the project stage and has established a living, breathing corporate entity.
Questions to answer: How do I operationalize? How do I establish a corporate entity?
Institutionalize your venture. Establish the board of directors and executive team, construct your capitalization table and start issuing stock, register with the IRS and Massachusetts Department of Revenue. We’re here to make introductions to firms that can help.
Every Northeastern spinout aims to commercialize technologies developed within a Northeastern lab. Spinout founders are required to secure a license to commercialize these technologies. Founders can either execute an option agreement, granting them the exclusive right to secure a license, or can jump ahead to the IP license agreement negotiation stage.