An Entrepreneur in residence, or Executive in residence (EIR), is a position most often held by successful

entrepreneurs Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values t ...

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

firms,

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...

firms, startup accelerators, law firms or business schools. The EIR typically leads, or has led, a small, early-stage, emerging company deemed to have high-growth potential, or which has demonstrated high-growth in its number of employees, annual revenue, or both. An institutional fund may provide an entrepreneur in residence, or executive in residence, with the

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

Venture capital, private equity, startup accelerators

In a

venture capital fund Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which hav ...

, a

fund or a startup accelerator; 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 c ...

companies by leveraging their industry knowledge, expertise and network. In addition he/she is expected to evaluate new investments opportunities for the

or private equity fund, especially if it is in their domain of expertise. The venture capital firm usually benefits by getting significant access to the new company started by the EIR. This is due to the fact that the general partners are typically the first investor in EIR's new company, giving them a chance to invest before angel investors 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

In business schools, an EIR provides guidance to

MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

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 Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values t ...

in residence provides

professional services Professional services are occupations in the service sector requiring special training in the arts or sciences. Some professional services, such as architects, accountants, engineers, doctors, and lawyers require the practitioner to hold profe ...

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