Entrepreneur in residence: Difference between revisions
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{{Short description|Organizational position}} |
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{{distinguish|Executive Residence}} |
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An '''entrepreneur in residence''', or '''executive in residence''' ('''EIR'''), is a position commonly held by successful [[Entrepreneurship|entrepreneurs]] in [[venture capital]] firms, [[private equity]] firms, [[startup accelerator]]s, [[law firm]]s or [[business school]]s. Typically, the EIR has led or currently leads a [[Start-up company|small, early-stage, emerging company]] with perceived high-growth potential or has demonstrated significant growth in terms of employees, annual revenue, or both. |
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| ⚫ | [[Investment management|Institutional fund]] may provide an entrepreneur in residence, or executive in residence, with the necessary [[working capital]] to facilitate expansion, new-product development, or the restructuring of a company's operations, management, or ownership.<ref>An Entrepreneurial Life, (2013). What is an Entrepreneur in Residence?. [online] Available at: http://www.anentrepreneuriallife.com/glossary/entrepreneur-in-residence {{Webarchive|url=https://web.archive.org/web/20141030165511/http://anentrepreneuriallife.com/glossary/entrepreneur-in-residence/ |date=2014-10-30 }} [Accessed 22 Oct. 2014].</ref><ref>{{Cite web |last=Nash |first=Adam |date=2013-07-05 |title=EIR Series: What is an Executive in Residence (EIR)? |url=https://adamnash.blog/2013/07/05/eir-series-what-is-an-executive-in-residence-eir/ |access-date=2023-04-12 |website=Psychohistory |language=en}}</ref><ref>{{Cite web |last=Dickinson |first=Boonsri |title=So What The Heck Is An 'Entrepreneur In Residence' Anyway? |url=https://www.businessinsider.com/eir-faq-what-you-need-to-know-2012-3 |access-date=2023-04-12 |website=Business Insider |language=en-US}}</ref><ref>{{Cite web |title=De domeinnaam Rebelic.nl is er klaar voor. |url=http://www.rebelic.nl/ |access-date=2024-01-30 |website=Domeinnaam Rebelic.nl |language=en}}</ref><ref>{{Cite web |url=https://www.forbes.com/consent/?toURL=https://www.forbes.com/fdc/welcome_mjx.shtml |access-date=2024-01-30 |website=www.forbes.com}}</ref> |
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==Venture capital, private equity, startup accelerators== |
==Venture capital, private equity, startup accelerators== |
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In a [[Venture capital|venture capital fund]], a [[private equity]] fund or a [[startup accelerator]]; the entrepreneur in residence works with the [[General partnership|general partners]] and assists the firm's [[Portfolio (finance)|portfolio]] companies by leveraging their industry knowledge, expertise and network. |
In a [[Venture capital|venture capital fund]], a [[private equity]] fund or a [[startup accelerator]]; the entrepreneur in residence works with the [[General partnership|general partners]] and assists the firm's [[Portfolio (finance)|portfolio]] companies by leveraging their industry knowledge, expertise, and network. Additionally, they are tasked with evaluating new investment opportunities for the [[venture capital]] or private equity fund, particularly within their domain of expertise. |
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The venture capital firm usually benefits from significant access to the new company initiated by the EIR. This stems from the fact that the general partners are typically the initial investors in the EIR's new venture, providing them with an opportunity to invest before [[angel investor]]s and other venture capital firms.<ref>Festanstellung - Entrepreneur in Residence (m/w) - München, Berlin - www.etventure.com, (2014). Festanstellung - Entrepreneur in Residence (m/w) - München, Berlin. [online] Available at: http://www.etventure.com/de/festanstellung-entrepreneur-in-residence-muenchen-berlin.html {{Webarchive|url=https://web.archive.org/web/20141030152248/http://www.etventure.com/de/festanstellung-entrepreneur-in-residence-muenchen-berlin.html |date=2014-10-30 }} [Accessed 25 Oct. 2014].</ref> |
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==Business school== |
==Business school== |
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In [[business school]] |
In [[business school]]s, an EIR provides guidance to [[Master of Business Administration|MBA]] students who are starting their own companies. The type of nurturing an EIR can provide to a business school environment helps students and professors by sharing their industry experience and expertise. The EIR helps students and professors develop new ideas and turn them into sustainable ventures. |
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==Corporate EIRs== |
==Corporate EIRs== |
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EIR's, or |
EIR's, or entrepreneurs in residence were once found mostly at venture capital firms, but the role has expanded and you can now find them at a variety of companies - including tech companies. |
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At a law firm, the |
At a law firm, the entrepreneur in residence provides [[professional services]] to the firm's clients. Law firms may offer the advisory service to entrepreneurs in order to gain clients by helping them with venture decisions and networks.{{citation needed|date=March 2020}} |
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==References== |
==References== |
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{{Reflist}} |
{{Reflist}} |
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[[Category:Entrepreneurship]] |
[[Category:Entrepreneurship]] |
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Latest revision as of 05:25, 4 May 2024
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An entrepreneur in residence, or executive in residence (EIR), is a position commonly held by successful entrepreneurs in venture capital firms, private equity firms, startup accelerators, law firms or business schools. Typically, the EIR has led or currently leads a small, early-stage, emerging company with perceived high-growth potential or has demonstrated significant growth in terms of employees, annual revenue, or both.
Institutional fund may provide an entrepreneur in residence, or executive in residence, with the necessary working capital to facilitate expansion, new-product development, or the restructuring of a company's operations, management, or ownership.[1][2][3][4][5]
Venture capital, private equity, startup accelerators[edit]
In a venture capital fund, a private equity fund or a startup accelerator; the entrepreneur in residence works with the general partners and assists the firm's portfolio companies by leveraging their industry knowledge, expertise, and network. Additionally, they are tasked with evaluating new investment opportunities for the venture capital or private equity fund, particularly within their domain of expertise.
The venture capital firm usually benefits from significant access to the new company initiated by the EIR. This stems from the fact that the general partners are typically the initial investors in the EIR's new venture, providing them with an opportunity to invest before angel investors and other venture capital firms.[6]
Business school[edit]
In business schools, an EIR provides guidance to MBA students who are starting their own companies. The type of nurturing an EIR can provide to a business school environment helps students and professors by sharing their industry experience and expertise. The EIR helps students and professors develop new ideas and turn them into sustainable ventures.
Corporate EIRs[edit]
EIR's, or entrepreneurs in residence were once found mostly at venture capital firms, but the role has expanded and you can now find them at a variety of companies - including tech companies.
At a law firm, the entrepreneur in residence provides professional services to the firm's clients. Law firms may offer the advisory service to entrepreneurs in order to gain clients by helping them with venture decisions and networks.[citation needed]
References[edit]
- ^ An Entrepreneurial Life, (2013). What is an Entrepreneur in Residence?. [online] Available at: http://www.anentrepreneuriallife.com/glossary/entrepreneur-in-residence Archived 2014-10-30 at the Wayback Machine [Accessed 22 Oct. 2014].
- ^ Nash, Adam (2013-07-05). "EIR Series: What is an Executive in Residence (EIR)?". Psychohistory. Retrieved 2023-04-12.
- ^ Dickinson, Boonsri. "So What The Heck Is An 'Entrepreneur In Residence' Anyway?". Business Insider. Retrieved 2023-04-12.
- ^ "De domeinnaam Rebelic.nl is er klaar voor". Domeinnaam Rebelic.nl. Retrieved 2024-01-30.
- ^ www.forbes.com https://www.forbes.com/consent/?toURL=https://www.forbes.com/fdc/welcome_mjx.shtml. Retrieved 2024-01-30.
{{cite web}}: Missing or empty|title=(help) - ^ Festanstellung - Entrepreneur in Residence (m/w) - München, Berlin - www.etventure.com, (2014). Festanstellung - Entrepreneur in Residence (m/w) - München, Berlin. [online] Available at: http://www.etventure.com/de/festanstellung-entrepreneur-in-residence-muenchen-berlin.html Archived 2014-10-30 at the Wayback Machine [Accessed 25 Oct. 2014].