mi-fi have been working closely with Qsic, the world’s first commercial music streaming service with built-in AI to positively influence customers’ mood, mindset and behaviours, since the company’s inception in 2012 and have continued to guide and support the business throughout its different stages of growth – from the idea phase, right through to Qsic’s Series A capital raising.
In recognising that their team was their biggest asset, Qsic wanted to incentivise employees as partial owners of the company. They needed to be able to provide employee equity in a measured way that rewarded their top talent and protected the interests of the company.
Recognising that Qsic wanted to incentivise their staff, mi-fi designed and implemented an Employee Share Option Plan (ESOP) for the company.
mi-fi led the entire process from designing the plan to taking advantage of the Startup Concession, and educating the founders and employees on the plan; including providing training days and on call support. They assisted with balancing the ESOP with the overall equity structure and objectives of the company and worked with Qsic’s lawyers to ensure all aspects of the ESOP were consistent with their existing legal obligations.
Qsic were thrilled with the inclusive process which resulted in a team invested in the company as not just employees but as owners in its future success.