The Spanish venture builder 5G Ventures has just launched Entrepreneur in Residence (EiR). The objective: to promote the creation of startups focused on advanced connectivity and industry 4.0.
Entrepreneur in Residence is an exhaustive four-month program in which selected entrepreneurs work on the ideation, validation and promotion of a startup, accompanied at all times by 5G Ventures. The Entrepreneur in Residence works directly with the team of experts in technology, industry, investment and entrepreneurship to create a business plan for products, services or use cases enabled by 5G technology.
The venture builder provides capital, methodology, training, resources, shared services, technological and market experience, as well as contact networks to ensure the viability and scalability of the company.
During the program, the entrepreneur receives a prorated annual salary of 40,000 euros, in addition to a budget of up to 2,000 euros to develop pilot tests. 5G Ventures accompanies the entrepreneur during the formation of the team, the creation of the first version of the product and obtaining initial customers.
At the end of the four-month program, a jury of experts led by the 5G Ventures team will assess the feasibility or not of the project to decide to co-found and invest in the startup together with the entrepreneurial team, which will have up to 70 % of shares. The venture builder will contribute capital in this first phase (“pre-seed”) of up to 300,000 euros.
Focus on advanced connectivity and Industry 4.0
5G Ventures launches Entrepreneur in Residence to accelerate the ideation and creation of startups that develop:
- Products that accelerate solutions advanced connectivitypowered by AI and Edge Computing, such as 5G, 6G, WiFi 6/7, IoT, satellite networks or “Metaverse ready-networks”.
- Industry 4.0 use cases (smart factory, retail, smart home, logistics, energy, smart city, entertainment, agriculture, health), advanced mobility (connected car, drones, AGV, robotics), and in immersive experiences (games, metaverse, augmented reality, virtual reality ).
experienced entrepreneurs
To promote and lead these companies, entrepreneurs must have deep technical knowledge in related engineering, as well as a proven track record at the head of the resolution of complex technological challenges. It is essential that applicant entrepreneurs have business skills and a professional background in entrepreneurship and in the implementation and design of strategic and business plans.
Interested entrepreneurs must apply through the 5G Ventures website www.5gventures.eu/eir/. Candidates must provide their professional experience and a description of the idea or opportunity they would like to develop so that a 5G Ventures committee evaluates and decides, after a series of interviews, the entrepreneur’s admission to the program.
