Factor[e] Venture’s Entrepreneur in Residence (EIR) Program 2018 for East Africans
Deadline: March 26, 2018
Apply for the Factor[e] Venture’s Entrepreneur in Residence (EIR) Program 2018. The EIR program seeks to empower East African entrepreneurs through support in the development of investable impact ventures by providing early-stage funding. They are looking for a hard-working, creative, technically-savvy, passionate, and visionary East African entrepreneur committed to building a venture in partnership with Factor[e].
The EIR program extends over a period of 6 months. During that time, the EIR will be tasked to follow lean startup principles and processes to build a venture that Factor[e] and sector partners can invest in and that will ultimately improve lives across the region. This program is designed as a partnership between Factor[e] and the EIR at the beginning of a long-term journey towards building a highly impactful venture.
Successful applicants will
- Agree on and develop the business idea to build. Factor[e]’s internal venture concepts and EIR’s own concepts that are aligned with Factor[e]’s focus areas will be considered;
- Develop and de-risk the concept;
- Build the business model: value proposition, customer segments, market channels, key partners, key resources, revenue streams, cost structure;
- Validate the business model: test the market need and get customer validation;
- Adjust the business model to incorporate the learnings from the testing and develop a product prototype;
- Build financial projections, organizational structure and hiring plan;
- Pitch the venture to Factor[e] and other co-investors for potential investment.
- Monthly stipend commensurate with market rates, ownership interest in new venture, medical cover, office space and internet are provided.
- Open to citizen of one of the following countries: Kenya, Rwanda, Tanzania, Uganda, Burundi, Democratic Republic of the Congo (DRC), Republic of the Congo, or Ethiopia;
- Living in Nairobi, Kenya or ready to relocate to Nairobi at least for the duration of the EIR residency period to pursue this opportunity;
- Bachelor’s Degree in engineering, agricultural science, business, international development, or related/otherwise relevant field;
- Strong interest and alignment with Factor[e]’s mission to accelerate access to energy, improve agricultural productivity, better manage waste and resources, and provide sustainable forms of mobility services;
- Appetite to co-found a venture in Kenya;
- “Get the job done” attitude that embraces teamwork, flexibility, and resilience;
- Proven track-record of executing against deadlines and reliably delivering outcomes;
- Successful experience with project management;
- Excellent written and verbal communication in English and strong interpersonal skills;
- Ability to work independently with an instinct for identifying priorities and time management;
- Strong understanding of and passion for entrepreneurship;
- Proven track record in building a venture will be an added advantage.
Please fill in the EIR application form and submit your resume and include a cover letter explaining your interest in and suitability for this role. Topics could include your experience with energy access, technology development, social enterprise, etc. as well as, the elements that make you excited about and exciting to Factor(E).
For more information, visit Factor[e] Venture’s Entrepreneur in Residence (EIR) Program.