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For EIRs

EIR stands for entrepreneurs-in-residence. The EIR program at Renewable Energy Search is a unique initiative to identify and support clean energy enthusiasts interested in setting up ventures in this space. Budding entrepreneurs interested in this growing sector, but not having yet narrowed down on their business idea, shall get to spend 3-4 months with the program as an EIR to identify a proven technology around which they would like to build their enterprise. Having done that, the EIR shall create a business plan and build a complimentary team around the idea. EIRs with most viable plans shall be provided funding and incubation support under the program. (EIR Program is not an internship and is open only to individuals/teams with commitment to set up an enterprise by end of the program)

Structure of the EIR Program

Phase 1: During the phase 1, the EIRs shall spend 3-4 months scouting and assessing relevant technologies/ideas followed by developing a business plan to create a venture around their idea. This phase shall involve heavy interactions with corporations, research labs, innovators, start-ups, VCs, government agencies and others in the entrepreneurial community to narrow down on a broad idea, compare the available proven technologies to execute the idea and create a viable business model for its commercialization. EIRs shall get to leverage the network of the program's partners for the above activities. By the end of the Phase 1, the EIR shall be expected to have developed a basic business plan and built a core team of Co-Founders apart from licensing the technology if need be. The EIRs may be provided a small stipend, travel allowance and office space with basic infrastructure for the Phase 1. 

Phase 2: At the end of phase 1, the EIRs shall present their plans to the Investment Committee and the viable plans shall be provided incubation and funding support. The team shall be expected to incorporate a company as soon as the team is selected for incubation. The incubation support shall include office space, seed-investment of up to Rs 20 lacs per start-up (follow-on funding if needed), mentoring and networking support for scaling up the venture. CIIE shall also provide support in licensing the technologies wherever required. 

Benefits

The EIR program is a unique opportunity for the budding entrepreneurs to convert their long cherished entrepreneurial desire into reality. The EIRs get to interact with the best minds in the industry, academia, and government agencies among others and a chance to get initial seed-funding and mentoring for their venture.

The incubated venture shall also have the chance of getting follow-on investment through other incubation funds at CIIE as well as various investor partners.

Criteria and Deadlines

While complimentary teams of 2-3 members will be ideal, exceptional individuals are also welcome to apply and we shall help you build your team further.

We are looking for the following characteristics in the applicants – 
  • Enthusiasm & knowledge/experience in the clean energy space
  • The team should ideally comprise of members from both technology and business background. (e.g. a team comprising of an advance degree holder in Energy Science and an MBA from a top B-School is ideal)
  • Commitment to being an entrepreneur (should be willing to postpone their gratifications)
The EIRs shall be selected through various rounds of interviews and discussions. 

The last date for applying for being an EIR is 31st March, 2009 and the EIR shall be required to start working (part time or full time) by early April.

For additional details refer to the FAQs section

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