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Entrepreneur In Residence

Posted by:
Vineet Ravi
Job Description:

Opia labs our company for internal and external entrepreneurs who are passionate about turning their ideas into new businesses, leveraging the strengths of Opia's existing resources to scale.
We provide support and resources to teams with a compelling opportunity, so they can rapidly pressure test the business model and iterate their idea towards product-market fit. Once the business is proven sustainable, it receives funding consistent with disciplined business-building best practices to scale to the next stage and merge into the overall Opia labs offerings.
Role Of The Entrepreneur In Residence (EIR)
Our starting point is always with entrepreneurs, so the 6-month Entrepreneur in Residence (EIR) program is a critical program.
An EIR can be an individual contributor or part of a team that has been working on an idea already. As part of the 6-month program, an EIR will work closely with the core Incubator team to develop an idea into an investable business plan. We provide an EIR with Opia Labs resources including headcount, budget, and proprietary research to help them formulate their business plan. While working with Opia Labs, we expect the idea and business plan will evolve during the program. As part of this process, an EIR will also create one or more proof of concepts to validate their market/product hypothesis. Upon completion of the proof of concept and a final business plan, the goal will be for the EIR to transition to become a full-time senior leader building their business inside of Opia Labs.
Key Responsibilities
  • Conduct customer development and market research required to validate product/market fit and develop the business model for the new venture
  • Scope out proof of concept (POC) , minimally viable product (MVP), and product roadmap
  • Design and pilot operational processes required to successfully serve customers with product
  • Work with Incubator to define key performance indicators, success metrics, and milestones
  • Develop a go-to-market strategy including sales, marketing, comms, and policy
  • Develop a budget that includes POC costs, long-term forecast, and resources required to achieve plan
  • Recruit initial team of ~5 people (depending on the project budget) with the skills required to launch (eg. product, design, engineering, operations, policy etc.)
Other Responsibilities Include
  • Regular reporting to leadership on progress against your goals
  • Advise leadership on how to improve the effectiveness and efficiency of our internal processes so that you can maximise your team’s productivity
  • Work with other EIRs, Venture Directors, and team members to support one another and collectively solve common issues
  • Establish strong working relationships with core product, engineering, operations and other supporting functions across the company (including policy, comms, HR, finance, legal and others)
  • Provide your perspective on other new ventures we should consider, as well as how we strengthen the overall Opia labs business.
  • Participate in the Quarterly Review and other regular processes where we will review the progress of your venture 
What You Will Need
  • You will be experienced in building and growing a new product from scratch into a thriving business - as a startup leader, entrepreneur, general manager or respected product leader
  • You have a strong vision for what your product should look like, both today and in 10 years from now …
  • You are able to inspire people to join you - quick, smart internal and external recruiting will be critical to your success
  • You have a strong sense of ownership - the buck stops with you!
  • You are focused on results and you will be required to make measurable, steady progress towards your objective of proving that this is the right bet for Opia Labs to be taking in a world of infinite opportunity and limited resource.
  • You have the ability to establish internal credibility with peer managers both inside and outside your immediate team.
  • You respond well to complex situations, working across the organization and with customers and partners to solve problems
  • You move quickly and have the confidence to act decisively when needed.
  • You are committed to attracting and retaining the brightest minds from all backgrounds, while cultivating the power of a diverse organization.