Entrepreneur In Residence – Role Description
Overview of Watson Institute
Watson Institute is a place where rising entrepreneurs and leaders can find their community, discover their calling, and accelerate their careers.
Watson Institute powers Fellowships for partners including Ford Philanthropy, Comcast, Google, Western Union Foundation, Truist Foundation, BMO, and several private foundations. Watson Institute’s programs will positively impact approximately 2,400 rising leaders this year.
Alumni of Watson Institute’s Fellowships have raised over $185 million, created over 1,900 paid jobs, and impacted 10 million people around the world through initiatives they help lead. 90% of Watson Institute alums are employed, continuing their education, or building a venture. This is on par with leading business schools, yet all of the Fellowships Watson Institute powers are free. 99% of Watson Institute Alumni use a skill they learned while in a Watson Institute powered program up to 10 years later. Watson Institute’s Alumni have been selected to Y Combinator, the Echoing Green Fellowship and seven have been named to Forbes’ 30 under 30 lists. Alums continue their education at Harvard University, New York University, and Princeton University, among others.
Entrepreneur in Residence (EIR)– Mission Statement
The mission of the Entrepreneur in Residence is to catalyze innovation and drive the growth of entrepreneurs by leveraging expertise, networks, and resources. EIR’s are committed to fostering a culture of entrepreneurship, guiding Fellows through challenges, and empowering them to achieve their fullest potential. Through mentorship, strategic insight, and hands-on support, EIR’s aim is to enhance the Fellows programmatic experience.
Detailed Position Breakdown:
EIR’s participate in 5 sessions over the 16-week Fellowship including:
2 hours to facilitate an Impact Series (The Impact Series may include a Fireside Chat or an interactive workshop, and revolves around sharing best practices, as well as learnings and failures. This pillar of the Watson Institute experience exposes our community to inspiring individuals who are committed to leading a life of impact).
3 hours to mentor and lead 2x Fishbowl Sessions (A “Fishbowl Session” is an opportunity for 1-3 Fellows to be in the “hot seat” and to have an aspect of their venture analyzed by an expert in front of the other Fellows so they can observe and learn from a “live” in person coaching session).
1.5 hours to lead a Q&A
1.5 hours to facilitate the Mentor Roundtable (an agenda will be provided by Program Manager)
EIR’s lead ongoing Mentor sessions over the 16-week Fellowship:
16 hours of 30 minute Mentor sessions; 1 hour per week. EIRs will be responsible for tracking Mentorship hours by submitting a brief form after each meeting.
In addition, we ask EIR’s to attend the below sessions prior to and throughout the duration of our 16-week Fellowships:
1.5 hours for attending the Preceptor & EIR Alignment Meeting
45 minutes for attending the Fellowship Orientation
1 hour for attending monthly All Preceptor & EIR Check-In (these check-ins are optional)
Estimated Total Time Commitment: 27 hours
Candidate Profile
Top candidates should demonstrate:
A deep track record of success: Verified track record of achievements in their own entrepreneurial endeavors or professional careers. This credibility instills confidence in the EIR’s advice and helps entrepreneurs trust their guidance.
Hold relevant industry experience that aligns with the entrepreneur’s field or sector. This experience helps them provide valuable insights, guidance, and practical advice based on real-world knowledge.
Are empathetic and understanding of the challenges entrepreneurs face. EIR’s should be able to relate to the entrepreneur’s experiences, fears, and aspirations, creating a supportive and non-judgmental environment.
Possess active listening skills and take the time to understand the entrepreneur’s goals, concerns, and unique circumstances. They ask thoughtful questions, listen attentively, and offer feedback that is tailored to the entrepreneur’s needs.
Natural coaches with the skills to help entrepreneurs identify their strengths, weaknesses, and areas for growth. They provide constructive feedback, encouragement, and resources to help entrepreneurs reach their full potential.
Experience working with individuals from various cultural, socioeconomic, and academic backgrounds. We are seeking candidates who have a demonstrated commitment to promoting diversity and inclusion in educational settings, particularly through their experience working with diverse populations.
The Vitals
Candidates hold a minimum of 5-years of relevant experience.
The Entrepreneur in Residence is a contractor role and reports to the VP of Impact Ecosystem.
Location: we aim to work with the communities we serve; candidates from key geographies will be prioritized for any location-based Fellowships.
The start date for this role is on a rolling basis.
Compensation: $1,350.00 per program.
