ESOP? ASAP
Michala Gregorová
Do you also get annoyed with how cumbersome and complicated everything around ESOPs is in the Czech Republic? In that case, we offer action. Support the #ESOPasap initiative and let's try to change the situation for the better together.
Press release, 28 March 2023
Czech startups don't need much from the state, mostly just peace of mind to work. But if there is a repeated call from technology companies, it is for better legislative and tax treatment of employee stock ownership programs (ESOPs).
Our new initiative ESOPasap, which was backed by major VC funds and leading startups even before its publication, aims to attract interest in ESOPs in the Czech Republic.
Startups can become the driving force of the Czech economy. But to do so, they need to attract top-notch people. Countries that already support ESOPs are quickly gaining ground - the Czech Republic is not among them. This is despite the fact that the Czech Republic has been a signatory to the EU Startup Nation Standard for two years. It includes a promise that the state will set rules for ESOPs tailored to the startup ecosystem.
"The Czech Republic has the potential to become one of Europe's technology centers. We have a lot of good cards in our hand - talented, entrepreneurial people, good technological education, pleasant living conditions... However, if startups are to attract top people from the Czech Republic and abroad, they need an even more enlightened approach of the state, among other things, to the ESOP," comments Miton partner Tomáš Matějček on the need for change.
That this is a topic that concerns the entire startup ecosystem is evidenced by the support the initiative has received. Startups such as Rossum, Rohlik and Mews, as well as leading Czech VCs, have joined.
Why are better rules needed?
1. ESOP increases the chance of success
Better ESOP support = more Rohliks, ProductBoards and Avasts for the Czech Republic. With ESOP, employees become co-owners, which has a major impact on their motivation.
2. ESOP attracts talents
Today, the best can choose from offers from all over the world. If Czech companies can use ESOPs more easily, they will have a better chance of attracting the best from the Czech Republic and abroad.
3. ESOP supports other entrepreneurial activity
Successful people in the tech sector are putting the money they earn back into the ecosystem. More employees with ESOPs means more startup success stories.
The problematic aspects of the current Czech reality are summarised on the initiative's website. It also includes a guidepost to practical information on ESOPs and it is possible to get involved in supporting the initiative.
Add your company to the list of supporters: www.esopasap.cz
foto: Cocuma for GLAMI
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