The process of incorporating a company can not only be bureaucratic it can also be quite costly and goes hand in hand with countless opportunities to make mistakes that are difficult to fix later.
Let’s say you have a solid team, a working prototype and some customers lined up but you’re not swimming in money. What do you do?
You can either defer to incorporate until your financial situation improves or you need to find enough money (e.g. through fundraising) in a phase where it is not only difficult and time intense for you to raise funds but also unlikely for you to get favorable terms.
Especially for first-time founders this is a terrible situation to be in.
Countless promising projects never make it over this barrier. Others manage to find a way through it only to realize how problematic their legal setup is a few months later or when they try to raise their first round.
Stripe Atlas and Lemmings
Stripe Atlas is a one-stop-shop service for incorporation in the United States.
The service is used by startup programs like Y Combinator, 500 Startups and Techstars to assist international founders to start their business in the US and to make sure that the setup is uncomplicated, founder friendly and ready to receive investment from angels and VCs in the US.
We’re delighted to be working with Stripe to make it easier
for our international founders to spend more time working on their startup
and less time on paperwork.
Here is a more detailed overview of what Stripe Atlas gets you:
- Incorporation of a Delaware C-corp in the United States
- A bank account at Silicon Valley Bank
- Legal guides and standard documents by Orrick
- Legal guides for issuing founder stock and setting up vesting by Orrick
- Tax & accounting guides as well as a flat-rate package by PwC
- USD 5000 in AWS Credits
- A Stripe account for accepting payments
- Access to the exclusive Stripe Atlas forum of international entrepreneurs
We’re very happy to be able to make the Stripe Atlas program available to all teams at Lemmings that intend to incorporate in the United States.
Here is some additional material if you want to learn more about Stripe Atlas.
Vincent Battaglia of Ludus on Stripe Atlas
Ingrid Lunden of TechCrunch on Stripe Atlas
Stripe Atlas adds a tool to set up stock issues for founding teams as it builds its business…
Stripe Atlas was launched by payments company Stripe last year to help small businesses set themselves up as a legal…
Stripe Atlas Guides
Stripe: Atlas Guide to Starting a Real Business
Atlas' guide to running your online business in its first year. Covers incorporation, bookkeeping, taxes, risk…
Stripe Atlas AMA with Marc Andreessen