Northeast Ohio Medical University — Entrepreneur-in-Residence

Summary
The Entrepreneur-in-Residence (EIR) is responsible for providing subject matter expertise, assessing client needs/priorities, and delivering high impact services. The domain expertise required for this role is in life sciences/biomedical/healthcare with an emphasis on how to start, fund, and scale companies; develop and execute effective forecasts; go-to-market strategies; sales & marketing strategies; fundraising plans and scale operations (product development; regulatory; staffing, budgeting/finance). Reports to the NEOMED VP for Research and Sponsored Programs in collaboration with the Senior Director of Entrepreneurial Services at Bounce.

No less than seventy-five percent (75%) of the EIR’s time will be spent on the Rootstown Campus with the remainder of the EIR’s time being spent at “landing space” within the Bounce facility in Akron working with the Incubator & Accelerator Program Coordinator and the Sr. Director of Entrepreneurial Services.

This role works closely with the broader NEOMED & Bounce teams, serving as a bridge between the two organizations and will interface with various Program Coordinators, Program Directors, and EIRs/business advisors from partner collaborators and other organizations, to support high potential companies and achieve positive outcomes as a collective team. This role will have engagement with new technologies emerging from not only NEOMED, but from other regional entities to help focus resources that can help assess the commercial viability of what are presumed to be the highest potential emerging technologies.

Northeast Ohio Medical University is an AA/EEO Employer. The university has a strong commitment to the principles of diversity and inclusion and to maintaining working and learning environments that are free from all forms of discrimination. Women, individuals with disabilities, veterans and minorities are strongly encouraged to apply.

Pay Grade: 15

Salary Range: $125,000-$150,000 plus benefits depending on experience and desire to provide more in-depth leadership to one or more of the early-stage companies

Location: Rootstown, OH

Principal Functional Responsibilities
85% of total effort – Provide direct advisory assistance to early-stage high potential companies to help them realize growth. This portion of the EIR’s time will be separated into: (1) 30%-time investment in NEOMED or NEOvations B2B spin out companies whose leadership teams have come through or intend to complete I-Corp training and where appropriate have applied for and received SBIR or STTR grants and are willing to see the project though the regulatory phase of development; (2) 30% in companies external to NEOMED who are prepared to enter the regulatory stage of support; and, (3) 25% in collaboration with Bounce in support of companies who are entering the market entry phase of development. Provide client companies with consistent, value-added guidance and resources that will help them grow rapidly and realize their economic impact.  Important aspects of the role include:

  • Triage early-stage companies (primarily in life sciences/biomedical/healthcare) to determine which companies have high potential for making progress to the next level after receiving support.
  •  Establish/manage delivery of value driving priorities and related milestones, typically on a 3- to 18-month time horizon, for the ones who qualify for services.
  • Serve as the primary point of contact between assigned client companies (15-20 more intense engagements with high potential companies for 3-10 hours per month) to provide access to a wide range of resources as needed to help successfully achieve milestones.
  • Provide input as a subject matter expert, particularly in life sciences/biomedical/healthcare domain-expertise areas. Specifically, provide relevant advice to help client companies develop realistic forecasts and execute development and regulatory operating plans to achieve growth.
  • Maintain a clear understanding of stage-appropriate follow-on funding resources and best practices to engage with potential investors.
  • Develop relationships with the entrepreneurial, business development and technology resources in the region.
  • Determine when services are not producing meaningful outcomes for a given company and it is appropriate to terminate EIR services.

15% of total effort – Communications and Reporting

  • Ensure timely reporting of metrics and information, independently and in conjunction with other ecosystem partners, recognizing that metrics are critical in demonstrating success and program validation to current and potential customers.
  • Track clients’ progress and milestones in Salesforce CRM.
  • Participate as advocate and thought leader for entrepreneurship in various presentation forums and outreach speaking engagements.
  • Attend regular meetings with EIR’s at Bounce to enhance high potential company development, promote networking and develop and maintain a higher sense of collaboration and trust between the partners.

Qualifications
Education, Training and/or Experience

  • Master’s or Doctorate Degree in a life sciences/biomedical/healthcare discipline
  • Minimum 5 years of progressive management experience in dynamic, growth companies
  • Senior management experience in a start-up life sciences/biomedical/healthcare company environment, in leading early-stage technology companies and/or in scaling life sciences/biomedical/healthcare company environments – fund raising, pitch, regulatory compliance, product development, sales

Key Skills, Personal Characteristics, and Key Competencies
Decision Making Responsibilities
This position requires a high degree of autonomy, business experience and strategic decision making. The EIR will be managing 15-20 high potential early-stage clients and assessing what services they need based on assessment and discussions with partners to make progress.

Direct Reports
None at the beginning. Role may grow to include direct reports over time.

Knowledge, Skills, Abilities

  • Proficiency with Microsoft Office Suite
  • Ability to coach from relevant experience
  • Ability to manage a number of clients across the region in an effective and efficient manner
  • Ability to see the larger strategic picture, absorb large amounts of data, draw out key findings and insights and synthesize thoughts in easy to follow, logical and coherent manner
  • Ability to relate to all organizational levels and establish credibility with entrepreneurs
  • Appreciation of all aspects and functions of a business
  • Ability to build and operate in team-based environments
  • Combination of strategic thinker and practical operational execution
  • Empathy and people leadership skills

Applicants should apply here: https://neomed.peopleadmin.com/postings/3015

Related: