Template Startup Society MOU and Letter of Interest

Letter of Interest from Government 

The government of [CommunityName or Countryname] welcomes the prospect of working with [local initiator] to establish a Free Economic Zone in [AreaName].

“We have reviewed the opportunity for a Free Economic Zone and believe that it represents a promising basis upon which our country can offer an internationally-competitive business climate for investors and entrepreneurs, and can mitigate against risks of sea level rise.

“In response, we are preparing to establish a working group that can liaise with [local initiator] and with [Startup Society Venture] to consider legislative provisions and implementation agreements, and ways that concession agreements can ensure that development is undertaken on a mutually beneficial basis.  

“We will be notifying you shortly of the formation of this working group and key contacts for follow up.  We welcome the interest of prospective investors and developers for the initiative in our country, and look forward to your response.

Yours sincerely,

[Representative of CommunityName or Countryname]

Memorandum of Understanding (MOU) Between Government and Startup Society Local Partner

This Memorandum of Understanding is between the [insert name of a local, regional, or national public sector entity], hereinafter referred to as the Office, and [insert name of contestant], hereinafter referred to as Startup Society Local Partner, whose address is at ___________.

I     THE OFFICE AND THE STARTUP SOCIETY LOCAL PARTNER BOTH AGREE AS FOLLOWS:

1. The parties seek to work together to support private sector funding, development, management, and promotion of new Free Economic Zone(s) in designated areas of [Country Name]. 

2. The parties recognize that Free Economic Zone (FEZ) incentives can benefit [CountryName] financially, technologically, economically, and environmentally.

3. The parties further recognize that FEZ incentives can rapidly generate lease revenues, create employment opportunities, and increase tourism.

4. The Office will work with the Startup Society Local Partner to implement the clauses listed under their respective agreement undertakings specified hereunder.

II   STARTUP SOCIETY LOCAL PARTNER AGREES AS FOLLOWS:

1. The Startup Society Local Partner seeks to proceed with research and development of the FEZ at the following location: ___________. 

2. This will be implemented by Startup Society Local Partner in partnership with [StartupSocietyVenture] through the establishment of a joint venture company, [StartupSocietyVenture]-[CountryName] Ltd.

3. Via its relationship with [StartupSocietyVenture], [StartupSocietyVenture]-[CountryName] Ltd. will provide technical, management, and marketing support to the [CountryName] national incentives program for Free Economic Zone development.

4. A detailed proposal for phased private sector development of a FEZ in _______, including  [StartupSocietyVenture]-[CountryName]’s conditional funding commitments (keyed to adoption of FEZ reform provisions), will be submitted to the Office within __ weeks of the signing of this Memorandum.

III     THE OFFICE AGREES AS FOLLOWS: [StartupSocietyVenture]

The Office agrees to submit for prompt consideration by the Government of [LocalityName/CountryName] any necessary changes to ensure that incentives for Free Economic Zone development are internationally competitive, with the aim of equaling or surpassing the business-friendly policies and incentives currently in effect in highly successful existing FEZs.

Specifically, the Office is prepared to:

1. Streamline the [CountryName] public sector procedures in designated Free Economic Zone areas to ensure that investors and entrepreneurs have a favorable experience with regard to [insert key areas for improvement];

2. Vest responsibilities for funding, management, development, and promotion of the FEZ area[s] with [StartupSocietyVenture]-[CountryName];

3. [option] Vest responsibilities for funding, management, development, and promotion of the FEZ with [StartupSocietyVenture]-[CountryName]  and investment partners of its choosing; 

4. [option] Convey a long-term leasehold concession to [StartupSocietyVenture]-[CountryName] of publicly-owned properties at Locationname[s] for development as Free Economic Zones, on the basis of a land lease revenue-sharing formula or Build-Operate-Transfer agreement benefiting a Community Land Trust to be established as set out in an appendix to this agreement. 

This Memorandum of Understanding, dated this ____ day ___, 20__, is agreed by the authorized signatories who sign hereunder thus:

_____________________________ ________________________________

 

For and on behalf of For and on behalf of

The Office Startup Society Local Partner

WITNESS: WITNESS: