Company Formation
Structure, governance, and next steps.
Entity Structure
Delaware C-Corp
Standard venture-backable structure. Delaware C-Corp provides the cleanest path for future fundraising, employee stock options, and potential acquisition.
Equity & Ownership
Equity Split — To Be Determined
Founder equity allocation is under active discussion among 3 founders. Key considerations: (1) time commitment — full-time vs. part-time, (2) IP contribution — prototype, engineering org, clinical practice, (3) domain access — clinical credibility and community, (4) engineering capacity — Bike4Mind's 35-person team. An employee option pool (15-20%) will be reserved for early hires. Final allocation will be determined before incorporation.
Founding Team Contributions
| Founder | Role | Contribution | Commitment |
|---|---|---|---|
| Deepak Surana | CPO | Built entire prototype. Product vision. Growth strategy. Fundraising. Business development. | TBD |
| Erik Bethke | CTO / CIO | 35-person Bike4Mind engineering org. Platform architecture. AI/ML infrastructure. DevOps. Production deployment. | TBD |
| Yogini Prajapati, MD | CMO | Clinical founder. Product validation. DPC community access. Public face. Live practice as proof-of-concept. | TBD |
Vesting (Standard)
- 4-year vesting with 1-year cliff for all founders
- Single-trigger acceleration on change of control
- 83(b) elections filed at incorporation
Decision Rights
| Decision Type | Who Decides | Input From |
|---|---|---|
| Company strategy & vision | All founders | Collaborative |
| Product roadmap & features | Deepak (CPO) | Yogini on clinical features |
| Clinical workflows & medical content | Yogini (CMO) | Deepak on UX implications |
| Technology architecture & infrastructure | Erik (CTO) | Deepak on product requirements |
| Engineering execution & DevOps | Erik (CTO) + Bike4Mind team | Deepak on priorities |
| Growth, pricing, conversion | Deepak (CPO) | Yogini on messaging |
| Fundraising & finance | Deepak | All (board) |
| Community & DPC partnerships | Yogini | Deepak on GTM |
| Pivots or major strategy shifts | All founders | Unanimous |
Formation Checklist
- Finalize equity split among 3 founders
- Incorporate Delaware C-Corp (Stripe Atlas or Clerky)
- File 83(b) elections for all founders
- Execute Founder IP Assignment Agreement
- Set up option pool (Carta or Pulley)
- Open business bank account (Mercury)
- Register for EIN
- Draft and sign Operating Agreement
- HIPAA compliance assessment with healthcare attorney
- Obtain cyber liability insurance
- Register domain: starlight.md