Jasiri Legal Consultation Sessions
In a collaborative effort to empower startups in East Africa, the Startup Empowerment Program partnered with Jasiri, an Allan Gill Gray Philanthropy program, to provide legal consultation sessions to 20 startups from three jurisdictions: Rwanda, Kenya, and Ethiopia regarding founders’ agreements (shareholders’ agreements for startups). The consultation sessions followed a series of workshops where we previously drafted and taught the principles of founders' agreements. These one-on-one sessions aimed to discuss every detail of each startup and tailor the contracts to their unique legal needs, consequently ensuring compliance with local regulations and strategic positioning in order to scale their ventures.
The cornerstone of our consultation was the founders' agreement, a document that defines the relationship between the founders, their rights, responsibilities, and the operational framework of the startup all while acting as a shareholders agreement for their startup company. We reviewed and refined the founders' agreements for each startup, addressed specific concerns and scenarios unique to each founder group, and provided guidance on dispute resolution mechanisms, equity distribution, and the necessary requirements for registering and incorporating a business in Rwanda, Kenya, and Ethiopia.
Our consultations covered strategies for allocating and distributing shares among founders and investors and mechanisms for reserving shares for future funding rounds. Furthermore, we tailored advice to fit the management dynamics and business needs of each startup, focusing on establishing clear decision-making processes, creating governance structures that promote accountability and efficiency, and implementing voting rights and procedures for major business decisions for the founder and their board.
The legal consultation sessions, conducted through our partnership with Jasiri, have proven to be an invaluable resource for startups in Rwanda, Kenya, and Ethiopia. We look forward to continuing our partnership with Jasiri and expanding our support to more startups across the region.