Venture Lab

FREQUENTLY ASKED QUESTIONS

 

WHO MAKES A GOOD ENTREPRENEUR-IN-RESIDENCE (EIR)

Here’s the most common profile of an EIR:

  • Substantial professional experience—a serial entrepreneur or seasoned leader
  • In a clear time of transition, even if fully employed in another venture
  • Has a topic of cultural significance they’d like to work on, even if low visibility to an idea for a venture
  • Is a learner—wants to form a thesis around something happening in culture

This isn’t the only profile we work with though, so if you’re deeply interested in our program, we’d love to hear from you. If you’ve already got a venture going, consider applying to our Accelerators.

 

HOW CAN I BECOME AN EIR

If you’re interested in being an EIR, the easiest way to start a conversation is to fill out our short interest application. Though our formal program runs Oct-May each year, we accept rolling applications throughout the year and are always interested in meeting new prospective participants.

 

DOES AN EIR HAVE TO GO FULL TIME TO ENTER THE PROGRAM?

No. We believe many of the best ideas emerge in times of transition where the leader(s) are currently in another position and will only go full-time once the venture materializes.

 

DO EIR’S HAVE TO RELOCATE TO NEW YORK CITY?

No. This program is built to work with top entrepreneurs regardless of location, although we welcome EIRs that want to be in closer proximity to our headquarters.

 

CAN I CREATE A NONPROFIT THROUGH THE EIR PROGRAM?

Yes. Part of our process includes discernment of the right structure for the venture, and we are very open to new initiatives that require a donor-driven approach.

 

IF I’M STARTING A BUSINESS, DO YOU TAKE EQUITY IN MY COMPANY?

No. Our program is built to help senior founders, and we don’t want equity to be an obstacle in working with the best.

 

DO I HAVE TO BE STARTING A NEW VENTURE TO DO THE EIR PROGRAM?

Usually. We are willing to entertain applications from intrapreneurial leaders who are running an organization and interested in starting a major new initiative inside of a currently operating venture, though these are rare exceptions.

 

WHAT IS THE DURATION OF THE EIR PROGRAM?

The EIR program runs every October-May, with the objective of moving the EIR towards a launch of the venture where they can go full-time.

 

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