Entrepreneur-in-Residence
Posted on June 27, 2013
The mission of the Entrepreneur-in-Residence (EIR) program is to increase the quantity and quality of start-ups based on University of Washington technologies.
Experienced entrepreneurs interested in starting a company based on a UW technology are invited to apply. EIRs join C4C for six months at a time. During this period, EIRs help identify technologies with commercial promise, and select a technology to spin out. EIRs provide UW researchers with real-world insights about the commercialization process and expertise in target markets, product development, and fundraising strategies.
The C4C New Ventures team has created a vibrant network of EIRs that support C4C activities and the efforts of the other EIRs. It is a collaborative environment that includes entrepreneurs, business executives, angel and venture capital investors, attorneys and others. This network is an invaluable resource for UW researchers as they develop their business ideas.
Expectations of the Entrepreneur-in-Residence:
- Spin out a company based on UW technology
- Meet with C4C and teams to identify top priorities and select technology for spin-out.
- Finalize business plan, business strategy and fundraising plan.
- Provide marketability/commercialization recommendations.
- Form and/or help recruit management team.
- Connect team with management, industry, legal and financing contacts.
- Work with C4C team to evaluate opportunity and coordinate the allocation of other resources.
- Refer other candidates and consultants.
- Attend EIR and New Ventures team meetings (one meeting per week at 10am on Thursdays).
- Support the C4C mission and work closely with C4C team members.
Compensation and Contract:
- The EIR works part-time for a six-month term.
- Compensation will be paid as a stipend of $1,000 per month.The EIR will have access to free parking, work space at C4C and the New Ventures Facility at Fluke Hall, UW libraries and market research databases, business cards and office supplies, and support from interns.
- The EIR will bear the cost of out-of-pocket expenses such as meals, parking, mileage, etc. (the stipend is designed to cover these expenses)
- This work arrangement is covered by a contract between the EIR (Contractor) and the UW
- The EIR agrees to separately execute the EIR Confidentiality Agreement.
Additional Support for EIR-Led Start-ups:
- Once the EIR executes an option or license to spin out a UW technology, New Ventures has discretion to extend the contract term and/or increase the monthly stipend.
- EIR-led start-ups are eligible for priority funding through our Commercialization Gap Fund.
- EIR-led start-ups are eligible for priority in our incubator, the New Ventures Facility at Fluke Hall.
- Funding for commercialization-specific activities, such as market research, web design, product design and development, and others, can be provided on a case-by-case basis at the discretion of C4C.
Encouraging and evaluating new innovation disclosures:
- Assessing new innovations generated by University faculty and researchers for their potential IP and marketability;
- Recommending whether or not to commercialize innovations.
- As appropriate, developing plans for effective transfer of technology to industry or a new business venture.
To Apply: If you are looking for your next start-up opportunity, please submit a resume and letter of interest to Patrick Shelby, Director of New Ventures and Merina Bigley, Manager of Operations, New Ventures Facility.