LEO'S IDEA: Software to manage equity compensation-- purpose-built for the tourism industry
Looking for a partner with a legal background and has worked on software to distribute equity in other industries.
+ What is your name?
Leo
+ Where are you located?
The United States
+ In one sentence, tell us about your idea.
I'm building an equity management solution purpose-built for the tourism industry.
+ My ideal collaborative partner or partners would be...?
My ideal collaborative partner is someone who has a legal background and has worked on software to distribute equity in other industries.
+ What is it about your idea that makes you feel good?
There are so many startups in the tourism industry that would prefer to offer equity compensation to early hires but lack the legal support, financial know-how, and proper systems to pay early employees in this way. This could allow more founders in travel to build a team pre-revenue.
+ What makes your idea innovative? Why has no one ever done it before?
We are building software purpose-built for small to medium startups in travel. The existing ecosystem for Equity Management Software is for large companies with large budgets and is not tailored for the tourism industry. Right now, getting paid in equity is in the too hard basket for most people-- founders and employees alike -- and that should change if we hope to see more collaboration and innovation in the global tourism industry.
+ Who will benefit the most from your idea?
Founders in tourism who need to build a strong team pre-revenue and want to offer equity but just don't know how that would work in real life so forgo the option. It would also make the process of working at a company for equity more streamlined and clear, and would encourage more people to opt for this alternative form of compensation.
+ Ideally, when would you launch this idea?
In a few months
+ Indicate which UN goals your idea relates to?
Decent Work and Economic Growth
+ At Sigmund, we are interested in ideas at the intersection of People, Planet, and Profit. How does your idea relate to these three categories?
People - allow founders to build a great team to take their idea to a revenue generating level. Allow workers to collaborate on exciting projects that could potentially net them more money from an equity perspective in the long haul than getting paid as a typical contractor (ie. monthly or project fee). Planet - Empowering startups in travel to compensate with equity will mean less pressure to generate revenue to pay a team on day 1, which will mean allowing themselves to take the planet into more consideration, do things sustainably, vs. heading right for more the traditionally most profitable route which often is worse for the planet. Profit - Workers could theoretically work on a number of projects/clients that offer equity as compensation , and overtime, if more than one exit, the profit will compound and workers could end up making much more than if they charged in the traditional manner (monthly/project fee)
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