Technion Entrepreneur in Residence Program (EIR)

Reposted from T3 – the Technion Technology Transfer office

The Technion Entrepreneur in Residence (EIR) program introduces entrepreneurs into the Technion research environment, identifying promising technologies in order to launch start-up companies. By engaging experienced entrepreneurs to transfer technology to the global marketplace, the Technion enables researchers to concentrate on their academic endeavors, while ensuring commercialization of new technologies.

As a part of the program, each entrepreneur has up to six months to discover a business opportunity and launch a startup. While entrepreneurs are not paid for their participation in the EIR program, they receive equity in the newly formed startups. Preference is given to entrepreneurs that are willing to establish their operations in the Haifa area, near the Technion, thus facilitating close dialogue with faculty members, Technion laboratories, and the business unit.

The EIR’s Board of Directors guides entrepreneurs through the commercialization process. During an up-to-three-month ‘opportunity discovery’ period, the entrepreneurs work within a designated Technion department. They have access to other departments to identify and stimulate multi-disciplinary opportunities. While entrepreneurs are expected to point out several opportunities, they ultimately focus on a single option.

Having identified their startup opportunity, entrepreneurs work with the Technion Entrepreneurship and Innovation Center for an additional three months to develop a detailed business strategy. These plans are then submitted to the EIR Board of Directors, for final acceptance or rejection.

Upon a ‘thumbs up’ decision by the Board, a newly minted startup company is formed. Entrepreneurs are responsible for implementing the business plan, raising capital, achieving milestones, and reporting progress to the EIR Board on a quarterly basis. The startup receives broad Technion support, which includes access to Institute laboratories for ongoing research, as well as administrative and legal services.

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