Over the last few months, I have done a series of interviews with leaders – CEOs, Entrepreneurs, Innovators, Technologists, Academics, and Social Entrepreneurs – which offer insights to young and old alike about key choices – in business, in career, in life. * Jerry Rawls, CoFounder & CEO of Finisar * Philippe Courtot, Founder and
Here Raj discusses making the jump from Foundation Capital to becoming a member of Silver Spring Networks. He concludes the interview by providing advice and insight of the EIR adventure to other entrepreneurs who may be considering such a move themselves. SM: So how did you go from EIR to a member of the SSN
Raj continues to discuss Silver Spring Networks. Here he offers insight into the analysis of the market and the product capabilities which they would offer, and his initial formulation of a plan of action. SM: You were able to identify a very solid opportunity which would be long-lasting and in high demand, that sounds perfect!
The benefits of an EIR opportunity should be beneficial to both parties, entrepreneur and VC. In Raj’s case, that was certainly the case. He leveraged his past networking experience, as well as his time in the EIR program, to become a key contributor to Silver Spring Networks. Here Raj discusses how he initially “discovered” the
Raj continues to discuss his criteria for evaluating EIR opportunities. SM: How about the experience level of the partners – I imagine having the opportunity to learn from them was rather important in your decision to join Foundation? RV: I found it very useful to be able to talk under the same roof, first about
While Raj did not make much effort in the way of formally analyzing his acceptance of an EIR position, he does share with us what his criteria should have been. In essence, we are benefiting from a “hindsight is 20/20”. Raj goes into detail regarding what he feels is important in an EIR arrangement. SM:
EIR programs are all different, and with Foundation Raj was able to come in based on the recommendation of a personal acquaintance. Accordingly, there was not much in the way of a formalized agreement, rather it was a working arrangement which benefited all parties. SM: What were the formal vs. informal parts of the EIR
Raj accepted an EIR position with Foundation Capital. Such arrangements typically have the EIRs reviewing business plans and providing their own technical expertise to any of the VC’s portfolio companies, while incubating a new startup of their own. Below, he explains some of the general terms for being an EIR, including his role with Foundation.