OCV’s coverage areas will evolve based on business needs and staffing capacity. This outline is subject to frequent updates.
OCV supports the initial commercialization efforts for our companies. We do not charge companies any fees. During the formation stage, OCV may incur certain startup expenses on the Company’s behalf. There could be certain expense reimbursement (at cost) during the company launch phase, but amounts should be minimal and not expected to be ongoing once the company’s finance systems are set up. OCV will invoice companies for reimbursement for actual costs incurred.
Company Formation Process
- Legal / incorporation process: 2-3 weeks
- Founders will need to sign an engagement letter with legal counsel
- Transfer existing domain names to the company (if applicable)
- Bank account setup and funding (after regulatory filings): 1-2 weeks
- Founders may be required to complete KYC steps for bank application
- Founders to complete common share purchase before OCV SAFE funding
- Founders are to send in their 83b Election to the IRS and confirmation with the Legal Team
- Corporate credit card & EOR setup (after the bank account is funded): 1-2 weeks
- Founders to sign the EOR contract and complete founder onboarding in the EOR system
- Founders may be required to complete KYC steps for corporate credit card
- Other core business systems setup/purchase founder equipment, etc.: 1 week