An entrepreneur in residence, or executive in residence (EIR), is a position commonly held by successful

entrepreneurs Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entreprene ...

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

firms,

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

firms,

startup accelerator Startup accelerators, also known as seed accelerators, are fixed-term, cohort-based programs, that include mentorship and educational components, and (sometimes) culminate in a public pitch event or demo day. While traditional business incubato ...

law firm A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise consumer, clients (individuals or corporations) about their legal rights and Obligation, respon ...

s or

business school A business school is a higher education institution or professional school that teaches courses leading to degrees in business administration or management. A business school may also be referred to as school of management, management school, s ...

s. 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 Working capital (WC) is a financial metric which represents operating liquidity available to a business, organisation, or other entity, including governmental entities. Along with fixed assets such as plant and equipment, working capital is consi ...

to facilitate expansion, new-product development, or the restructuring of a company's operations, management, or ownership.

Venture capital, private equity, startup accelerators

In a

venture capital fund Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number ...

, a

fund or a

; the entrepreneur in residence works with the general partners and assists the firm's

portfolio Portfolio may refer to: Objects * Portfolio (briefcase), a type of briefcase Collections * Portfolio (finance), a collection of assets held by an institution or a private individual * Artist's portfolio, a sample of an artist's work or a ...

companies by leveraging their industry knowledge, expertise, and network. Additionally, they are tasked with evaluating new investment opportunities for the

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 investor An angel investor (also known as a business angel, informal investor, angel funder, private investor, or seed investor) is an individual who provides capital to a business or businesses, including startups, usually in exchange for convertible de ...

s and other venture capital firms.Festanstellung - Entrepreneur in Residence (m/w) - München, Berlin - www.etventure.com, (2014). Festanstellung - Entrepreneur in Residence (m/w) - München, Berlin. nlineAvailable at: http://www.etventure.com/de/festanstellung-entrepreneur-in-residence-muenchen-berlin.html ccessed 25 Oct. 2014

Business school

s, an EIR provides guidance to

MBA A Master of Business Administration (MBA) is a professional degree focused on business administration. The core courses in an MBA program cover various areas of business administration; elective courses may allow further study in a particular a ...

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

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 Professional services are occupations in the service sector requiring special training in liberal arts and pure sciences education or professional development education. Some professional services, such as architects, accountants, engineers, d ...

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.

References

{{Reflist Entrepreneurship Business occupations