At approximately 1/2 way through the Founder Institute program (around the "Startup Legal & IP" session), you will be required to incorporate your company and sign the warrant or option agreement. At this point, you will be added to the Equity Collective. Founders that do not wish to join the Equity Collective need to withdraw from the program before the last 45 days of the program. You can see the full schedule here: fi.co/program