Start-up support agreements are unique contracts that outline how an individual or corporation would provide various forms of assistance to a new business venture. These agreements may involve a variety of support services, such as funding, mentoring, marketing assistance, and operational support, all to assist the start-up in overcoming the challenges of early-stage development. The agreements aim to provide start-ups with the resources and skills they may lack, enhancing their chances of success. Start-up support agreements often outline the type and scope of assistance provided, the obligations of both the start-up and the supporting party, remuneration or equity arrangements, and the conditions for terminating the assistance.
Such agreements assist in ensuring that start-ups obtain the required guidance and resources for growth, while also preserving supporters’ rights and investments, resulting in a mutually beneficial collaboration.