Venture Factory organizes Entrepreneur-in-Residence program for startup professionals

BENGALURU: Venture Factory — a prominent Venture Builder Platform working with early stage startups — will initiate its Entrepreneur-in-Residence program, which is aimed at individuals who are suited to and want to start on an entrepreneurial journey.

As a part of the program Venture Factory (VF) invites applications from middle and senior management level executives with strong domain and operational experience to join its EIR program and take an entrepreneurial journey with Venture Factory collaboration.

Venture Factory through this program will support senior executives with substantial market-vertical experience or those who’ve been entrepreneurs. The EIR will be on Venture Factory’s payroll for a defined period, and will also help the VF in other areas of their expertise. Venture Factory invites such seasoned industry professionals to take a stab at living their startup dreams by joining the unique program.

Commenting on the program, Deepam Mishra, CEO, Venture Factory, said, “India is today a hotbed of technology innovation and the startup and entrepreneurship momentum has been fueling this trend even further. In our nation’s pursuit to move from being perceived as a service industry to a product nation, we need as many experienced hands as possible to make this a reality. The EIR program promises to harness the best of both worlds by enabling our seasoned technology professionals to pursue their entrepreneurial dreams. We believe this will pave the way for a more innovation and the creation of many more business leaders in the years to come.”

How it Works: Venture Factory will first identify and shortlist suitable candidates for the programs basis their entries. It will then put these EIRs to work on business ideas, which are supported by seed investments. The EIRs work alongside Venture Factory’s core team of Venture Partners and usually go on to take various CXO roles, including that of the CEO in their respective ventures. Till such time that the startups start making money, these EIRs are paid a monthly compensation and are incentivized with founder-equity in the startup. In the outside case that a business idea ultimately does not work out, then based on the EIR’s interest areas and background, he/she is invited to work on a different idea.