Join Artha as an Entrepreneur in Residence

Vinod and I have been playing around the idea of setting up our own version of EIRs (Entrepreneurs-in-Residence) at AVF (Artha Venture Fund). Vinod proposed this idea during our Monday morning pow-wow as a possible solution to the difficulty we have faced in finding an entrepreneurial teams that work in areas where we identify a significant market opportunity or wish/want to deploy funds.  

So, I read about EIR programs and best practices today, and as Vinod has had previous experience with these programs, I believe we could build a similar program at Artha which will be beneficial to both, the entrepreneur and us.  

EIR programs have existed for a while in the developed VC eco-systems,  several CVCs and US universities have successfully utilised the EIR position for their requirements.  

For Artha Venture Fund’s requirements, I found a few articles that provide a good context on what I’m looking for.  

I am convinced that we should try hiring an EIR for a 6 to 12-month period and test out whether this would work for AVF.

The objective for the EIR would be to work on creating a business plan while simultaneously working with the fund team on evaluating start-ups for investments and helping the investee companies. Therefore, the program can only be for people that have been a part of a founding team (or core team) of a funded start-up, big or small.  

While many of the details are yet to be worked out (and I will share them in future posts), here are some that come to mind- 

  • Contract period: 6 months with a mutual option to extend for 6 months 
  • Salary package: 8.00 L / annum (includes a 5% communication allowance) 
  • Work timing:
    1. 9 am to 7 pm
    2. Monday- Saturday
  • Perks: laptop, cell-phone, company paid phone service and a desk 
  • Minimum requirement:
    1. Attending all evaluation sessions 
    2. Helping portfolio companies  
    3. Writing their own business plan  

While most the EIR programs have left the choice of where to focus his/her entrepreneurial energies to the EIR, my fund (as Vinod will rightly remind me) does not have the luxury of millions of dollars coming to its coffers in management fees therefore each penny has to be accounted for to operate a sustainable VC business.  

Therefore, I want to make it clear that we are looking to pick EIRs that have a tech orientation and would like to work in B2B, B2C or B2B2C start-ups (but nothing in deep tech for now).  

Some of the plays that have my team and I interested are:  

If would like to apply for the EIR position, please fill out this form and attach your resume.

102/2018

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5 thoughts on “Join Artha as an Entrepreneur in Residence

    1. Dear Jithender.. in the interest of our own time and to be respectful to all others that have applied as requested, you will need to fill out the form at the end of the post.

      All the best,

      Anirudh

  1. As always you are the trend setter and pioneer in
    initiating best concepts in your field. Great and it seems EIR will help in creating most feasible , sustainable ventures if am right.

    1. Not exactly.. the benefit of the EIR is to provide us with an additional perspective when we are short listing companies for investment or making a funding plan, etc.

      The benefit to the EIR is that they get direct access to us, understand the investors perspective and have a sounding board for all their ideas, concerns and questions.

      Its a win-win!

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