ninthLABS is looking for experienced Entrepreneur-in-Residence (EIR) to work closely with our venture studio in identifying, validating, and launching new startup ideas. EIR will leverage their entrepreneurial expertise to guide and lead portfolio companies.
Welcome to ninthLABS – where innovation, collaboration, expertise and growth converge to shape the future of technology. We’re more than just a name; we’re a dynamic ecosystem designed to empower visionary entrepreneurs and fuel the evolution of groundbreaking ideas.
You can find out more about us by following us on LinkedIn or at ninthlabs.ai. Our team will also be in attendance at SWITCH 2023 in Singapore. We would love to meet you in person so please register a catch up through our page – https://nth.li/switch23
The Role of a ninthLABS Entrepreneur-in-Residence
A ninthLABS Entrepreneur-in-Residence plays a crucial role within venture studios and startup ecosystems. Their primary responsibilities revolve around leveraging their entrepreneurial expertise and experience to identify, validate, and launch new startup ideas. The specific duties of an EIR can vary depending on the needs of our portfolio companies, which we believe is a really cool role to have. We do expect the right candidate to have the following qualities and experience:
- Entrepreneurial Track Record: Proven history of founding or co-founding successful startups, and demonstrable ability to conceive, build, and scale ventures.
- Industry Expertise: Deep knowledge and expertise in several industry or market segments is essential for identifying opportunities and navigating challenges effectively.
- Adaptability: Adaptable and open to change, as the landscape is constantly evolving. Will have to be comfortable with ambiguity and capable of pivoting when necessary.
- Problem-Solving Skills: Identify and solve complex problems is crucial. You will be skilled at finding innovative solutions to challenges faced by our portfolio companies.
- Market Insight: A keen sense of market trends, customer needs, and emerging technologies is essential for making informed decisions and validating startup ideas.
- Strategic Thinker: It is essential to possess strategic thinking skills, capable of developing long-term vision and plans for portfolio companies while also executing on immediate objectives.
- Mentorship and Leadership: Be a keen mentor and leader who can guide and inspire early-stage startup teams, helping them navigate the ups and downs of entrepreneurship.
- Network and Relationships: Strong connections within the startup ecosystem, including with potential investors, partners, and advisors, can be invaluable for portfolio companies’ growth.
- Risk Tolerance: Entrepreneurship involves inherent risks, and successful EIRs should be comfortable with calculated risks and have the ability to manage and mitigate them.
- Communication Skills: Clear and effective communication is vital for conveying ideas, plans, and progress to the venture studio’s leadership, portfolio company teams, and external stakeholders.
What will the Entrepreneur-in-Residence be doing?
If this sounds like you, let’s review what we would typically expect you to do on a normal day. Pretty intense if we say so ourselves!
- Idea Generation and Validation:
- Generate and refine startup ideas that align with the venture studio’s strategic focus.
- Conduct market research and analysis to validate the demand and viability of new concepts.
- Assess potential competition and identify unique value propositions.
- Business Modelling:
- Develop business models, revenue strategies, and monetisation plans for new ventures.
- Create financial projections and conduct feasibility studies to assess the potential for profitability.
- Prototyping and MVP Development:
- Work with product and engineering teams to build minimum viable products (MVPs) or prototypes.
- Iterate on product development based on user feedback and market insights.
- Customer Development:
- Engage with potential customers and stakeholders to gather feedback and validate product-market fit.
- Conduct interviews, surveys, and user testing to understand customer needs and pain points.
- Team Building:
- Assemble and lead early-stage startup teams, including co-founders and initial hires.
- Identify and recruit talented individuals with the necessary skills to execute the startup’s vision.
- Strategy and Planning:
- Develop comprehensive business plans and go-to-market strategies for portfolio companies.
- Collaborate with the leadership team to set clear milestones and objectives.
- Mentorship and Guidance:
- Provide mentorship and guidance to the founders and leadership teams of portfolio companies.
- Share insights and lessons learned from previous entrepreneurial experiences.
- Networking and Ecosystem Engagement:
- Leverage personal and professional networks to connect with potential partners, investors, and customers.
- Represent the venture studio and portfolio companies within the startup ecosystem.
- Fundraising Assistance:
- Assist in fundraising efforts by preparing pitch materials, identifying potential investors, and participating in investor meetings.
- Help portfolio companies navigate the fundraising process.
- Adaptation and Pivoting:
- Monitor market trends and industry developments, and be prepared to pivot or adapt the startup’s strategy as needed.
- Evaluate the scalability and sustainability of the business model.
- Reporting and Accountability:
- Provide regular updates to the venture studio’s leadership on the progress, challenges, and successes of portfolio companies.
- Maintain accountability for achieving milestones and objectives.
- Exit Strategy:
- Work with portfolio companies to strategize and plan for potential exit scenarios, such as acquisition or IPO.
The role of Entrepreneur-in-Residence is not for the faith hearted but we are excited and looking forward to meeting you and discussing this opportunity in more details. You can also follow us on LinkedIn for other priority roles. Please submit your application via the following form.