Executive in Residence Program

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Introduction

What is it?

The Plug and Play Executives in Residence is a group of professionals residing inside the premises of Plug and Play Technology Center. They form a vital part of the community of entrepreneurs and startups to help them be more successful in the execution of their businesses.

Benefits for the Plug and Play Entrepreneur:

Entrepreneurs would have a group of high-level executives who would be physically available at Plug and Play 10-20 hours per week
The entrepreneur will have access to expertise since the executive will have an extensive network and experience in publicly traded companies, as well as high profile startups.
The executives will expertise in areas like semiconductor, networking, digital media, web, or a special expertise in sales marketing, management, product, etc.
The executive may become an investor, mentor, advisor, and possibly, a co-founder of a startup in which he/she has a vested interest.
For entrepreneurs coming from overseas (Spain, France, Australia, Israel, etc.), getting coached or mentored by a seasoned executive could be a great first step.
This program could create a more vibrant community with seasoned executives, possible investors, mentors, consultants and advisors, who could potentially create an additional fifty startups per year through this program.

Benefits for the Executive in Residence:

Executives will have an office at Plug and Play to go to regularly to collaborate with the entrepreneurs. They will have an opportunity to engage with the entrepreneur for possible investment, consulting, advisory or mentorship roles.
They automatically become member of the Plug and Play community with relations to over 200 startups, top tier VCs, angel investors, and large corporations.
For entrepreneurs, they will have an opportunity to help their own startups, or to develop their own ideas into a startup as founders or co-founders.
Network with other EIRs. Exchange ideas and learn from each other.
They will be able to participate in all Plug and Play events, including Webplay, MobilePlay, university events, VC investment forums, among others.
Participate and/or present in 20+ Plug and Play angel and VC deal reviews per month.

Benefits for VCs Sponsoring an EIR:

The EIR will be part of a very large energetic community of startups.
The EIR will be able to network and collaborate in his/her area of interest: mobile, digital media, clean tech, etc.
The VC would have much less cost of real estate for the EIR.

Benefits for Corporations Sponsoring an EIR:

The EIR would have an office and a community and a campus to go to every day.
The EIR would have an easier transition to find the next career or opportunity.
The EIR can play as a bridge between the corporation and startups that may be of interest to the corporation.

How will it work?
The EIR candidates will go through a selection process headed by the Plug and Play Management and Advisors:

The candidate fills out a questionnaire to clarify expectations and goals of the executive
Tour of Plug and Play and meeting with Saeed, Plug and Play Management and Advisors. Evaluation process.
3-month trial period.
Plug and Play will present the EIR to the startup community through weekly mixer events
After 3 months, Plug and Play reserves the right to continue the executive’s residency, or not.

Each opportunity to invest, mentor, consult, or join would be evaluated by the executive and the startup themselves. The EIR group must be self-managed. Plug and Play will only facilitate introductions and networking events to channel the EIRs to the various companies. However, it is the EIR's responsibility to carry out the deals with the startups.

Each transaction will have a clear understanding between the executive and the startup in terms of the specific service, as well as the remuneration in terms of cash or shares.
Plug and Play will receive a copy of each agreement.

If you are interested in the Executives in Residence Program at Plug and Play Tech Center