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
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.
Raj now provides some insight on his time with Epinions, and then sets up the transition into the Entrepreneur-in-Residence program. We begin discussing the EIR program at a high level to prepare for more specific and detailed discussions. SM: Was the move to Epinions the right move for you? RV: With Epinions I felt that
Raj Vaswani is currently the Chief Technology Officer with Silver Spring Networks. Equally as important and interesting for my audience is that he also has completed an Entrepreneur-in-Residence program with Foundation Capital. While I did discuss his overall background, as well as his role in founding Silver Spring Networks, Raj also provided some good insights
SM:What are your key investments and the rationale behind making those investments. This will help entrepreneurs understand how you process deals. WW: Energy markets present great opportunity for using IT to lower costs and improve operations. In the 90s there were companies — such as CellNet — that spotted this trend ahead of its time.
Warren Weiss of Foundation Capital is our next interviewee in the series. The DNA of Foundation as a firm is “Sales”. Most of the partners come from a deep enterprise sales background, and hence, they’re very focused on trying to figure out whether or not whatever you are trying to market, can be sold, and