LIFE SCIENCES ENTREPRENEUR-IN-RESIDENCE (EIR)
This is a part-time/contract position requiring 10-20 hours per week during active engagements. Based on the needs of the individual this work can mostly be done virtually (remote work) with occasional travel to The Innovation Space’s main facilities in Wilmington, Delaware. The hourly rate will be commensurate with relevant experience ranging from $50-$70 per hour.
CONTEXT OF THE JOB:
Under the direction of the President and CEO of The Innovation Space, the EIR(s) will support and mentor life science startups in our portfolio of companies which include residential clients and program participants. This will include providing advice, connections, and expert business building insights to help facilitate growth of the startups. The EIR(s) will be contracted as independent contractors to The Innovation Space which is a 501c3 non-profit organization or as part-time UD employees seconded to The Innovation Space.
MAJOR RESPONSIBILITIES:
• Work collectively with other members of the Innovation Space staff and partner with the broader entrepreneurial ecosystem to support a virtual cohort-based accelerator program supporting early-stage science startup companies and be a primary coach/mentor for startups in the program
• Stay in strong sync with the needs of current and future residential incubator clients of Innovation Space to deliver first in class mentoring and business building support services
• Actively and routinely collaborate with current clients of Innovation Space and assist them in removing obstacles and providing creative counsel to accelerate their business results. Provide leadership for the cultivation of new client leads for the Innovation Space as residential incubator clients in addition to companies to join as Innovation Space program clients
• Be an effective advocate for The Innovation Space in external and virtual forums educating people on the value proposition and opportunities as part of our innovation ecosystem
• Support due diligence for First Fund investment program decisions through interviews and review panel deliberations of applicants
EDUCATION, EXPERIENCE AND ABILITIES:
• Requires a science and/or business related Bachelor’s degree (prefer MBA and/or PhD) and more than 10 years’ experience starting, funding and building life science-based businesses, preferably in a C-level role.
• Real-life experience with formation and growth of a life science startup company, setting up its governance, raising funds, and strategically managing its valuation and cap table over its growth cycle. Preferred experience in pharmaceuticals, diagnostics, agricultural biotechnology, and/or industrial biotechnology
• Strong understanding of the life science industry and the entrepreneurial journey, including key areas such as:
o Business development and product development processes and timelines
o Intellectual property strategy and protection
o Regulatory pathways, approval processes, and compliance requirements
o Customer qualification, reimbursement models and market access considerations
o Investment and due diligence processes specific to early-stage life science companies
• Extensive knowledge and connections relevant to life science startups (e.g., investors, partners, and customers) and willingness to share and connect relevant parties when appropriate
• An aptitude for mentoring and teaching, with excellent oral, written, interpersonal, and communication skills
• A commitment to providing exceptional customer service
• Ability to make decisions and exercise discretion, confidentiality and judgment in keeping with the level of the position
• May require some evening and/or weekend hours
About The Innovation Space (
The Innovation Space™ is both a virtual and physical home for startups in Life Sciences, Clean Tech, and Advanced Materials. We work to transform science startups into industry-leading companies, supporting over 135 companies that have raised more than $1.2 billion in private capital since 2017. Located on the historic Experimental Station campus in Wilmington, Delaware, The Innovation Space™ offers 130,000 ft² of state-of-the-art lab and office space with access to cutting-edge equipment alongside a suite of programs and funding opportunities to support startup growth, including our new Early-Stage Growth Grant (EGG). Sign up for our newsletter for more information and updates to learn how The Innovation Space™ can support your startup’s success.
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