“NIREC has paired my research team with an Entrepreneur in Residence who has decades of experience making critical business decisions. Regular interactions with our EIR are helping us focus on issues that will create both a successful product and business."

– Hampden Kuhns, Principal Investigator, DRI

EIR Process

The EIR Process (download .pdf) outlines a framework through which each Project progresses, and is a repeatable methodology that ensures each project achieves one of our three potential desired outcomes.

  • The formation of a business seeking funding from VCs/Angels
  • The licensing of technology
  • The publication of work in the event the technology is not feasible or commercially viable

Phase 1: Project Set up

  • EIRs and PIs agree on deliverables, budget, timeline
  • Milestone: Signed Contract Award Documents

Phase 2: Technology Validation

  • PIs oversee research activities to confirm that the underlying technology "works", and delivers the desired outcome
  • Milestone: Summarized Technical Report detailing the validated technology, and sign off from the EIR and TCAB

Phase 3: Customer and Market Validation

  • EIRs guide research to confirm and articulate the consumer pain point, approach to solution, benefit to the consumer and competition
  • Milestone: Documents detailing findings. Powerpoint slides articulating findings to be presented to fellow EIRs

Phase 4: Technical Proof of Concept

  • PIs guide research activities to confirm that the underlying technology is able to perform in the desired application, as a product
  • Milestone: Initial prototype, together with Summarized Technical Report, signed off by the EIR and TCAB

Phase 5: Business Model Validation

  • EIRs lead market research and financial modeling activities to develop business model (to include business model, marketing plan, IP strategy, funding strategy)
  • Milestone: Documents detailing findings. Powerpoint slides articulating findings to be presented to fellow EIRs and small group of affiliates

Phase 6: Refinement of Business Package

  • EIRs lead the integration of all aspects of validation activities so far, into first draft of the Business Package
  • Milestone: First draft of Business Package to be presented to fellow EIRs, a small group of affiliates and the TCAB, and reiterated upon

Phase 7: Organizational and Talent Planning

  • EIRs and PIs work together to determine next organizational steps and talent plan
  • Milestone: Final draft of Business Package to be presented to fellow EIRs, a small group of affiliates and the TCAB

While EIRs and PIs are responsible for discrete phases of the project, they are jointly responsible for the development and quality of the final Business Package.

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