PaloAltoRecruiter Since 2001
the smart solution for Palo Alto jobs

Entrepreneurs In Residence

Company: NEC X Inc.
Location: Palo Alto
Posted on: June 24, 2022

Job Description:

NEC X is looking for entrepreneurs to participate in our venture studio program (Batch8) starting in September 2022 to be the first founders of startups.

About NEC X:Launched by technology giant NEC Corporation in 2018, NEC X, Inc. fast-tracks spinouts every year. We match our cutting-edge technologies developed at NEC with innovative business ideas brought by entrepreneurs-in-residence (EIRs). NEC X then incubates these startups through our program. We are located in Silicon Valley, to leverage the startup ecosystem to commercialize through open innovation.EIRs are the champions of NEC X. Our goal is to build world-leading startups with you!

About the Role:This is not a job opportunity but all about entrepreneurship.In this role, you will go through our 8-12-months program which consists of two phases: Customer Discovery (9-12 weeks) and Customer Validation (6-9 months), to be the founder and owner of a completely new business for your startup.During our customer discovery phase, we will provide you with access to an elite group of mentors, product leads, and startup evangelists to assist you to discover and engage with customers and to build out your team. These will become the foundation of your startup, and we provide the integral pieces to ensure that you are successful. In addition, we will provide you with access to top-talented researchers and cutting-edge technologies (AI/ML, computer vision, sensor, etc.) from NEC that are a result of a $1 billion+ annual spend on R&D.Once you convince us that your new idea is worth a million dollars after customer discovery, NEC X will be your first investor and put you on a launchpad through our customer validation phase. In this phase, you will build the MVP, test it with customers, iterate, iterate again, and eventually secure your first paying customers. At the end of this phase, your startup will spin out following a successful investment round from angel investors, VCs, or other accelerators.This role is challenging, fast-paced, and comes with ambiguity. You will be going through the growing pains that all startups have faced from day 1, but you will not be going at it alone. You will have the vast portfolio of NEC's technology, the incredible team at NEC X, and a group of star-studded mentors backing you from the get-go.Want to create a real and impactful startup? NEC X is the place to do it.We are sector agnostic, but particularly interested in public safety, robotics, mobility, carbon neutral, agtech, 5G/6G, and dev tools.

You will:

  • Be the first founder and owner of the startup
  • Analyze NEC's portfolio of technology and find which technologies can best be used with your business idea and future product
  • Build your own team (startups are hard, even harder when flying solo)
  • Go through our customer discovery phase (9-12 weeks):
  • Reach out and engage with customers to find key problems and needs as the seed of your business idea
  • Work with NEC X and mentors to ideate and iterate your business idea
  • Build a customer pipeline and secure your early-stage engagement agreements in the form of Proof of Concepts (POCs)
  • Pitch to NEC X and convince us to be your first investor
  • Go through our customer validation phase (6-9 months):
  • Use NEC X's investment to build and iterate your minimum viable product (MVP) to perform the POCs you secured during customer discovery
  • Get your first paying customers
  • Perform fundraising to achieve your first investment round from outside investors such as angel investors or VC firms
  • Spin out as a standalone successful startup

    You are a good candidate if you have:
    • Experience with the startup ecosystem, whether it is as a founder, early-stage employee, or as a key member of a startup from seed to Series C
    • The ability to tackle ambiguity and decide the best path forward
    • The skills to be an impactful storyteller and leader
    • An understanding of product lifecycle from ideation to launch
    • A natural talent at using customer empathy to understand customer problems and needs
    • Domain expertise, experience and network of connections in the target customer industry of your focus
    • 5+ years of work experience as a director or above in a business, product, or sales role at a technology companyNote: If you only have some of these but feel you are a strong candidate, we would still like to meet you!

      While not required, some of our most successful candidates have:
      • Created and launched a past startup that has had a positive exit (IPO, acquisition, etc)
      • Led and closed a fundraising round for a startup in the seed to Series C range
      • An existing group of customers with a clear problem

        Your NEC X Resources:
        • Investment in your business idea
        • Access to NEC's core technologies
        • Elite mentors, researchers, startup evangelists, and supporters to help you in all aspects of building a startup and spinning out of NEC X
        • Workshops to cover business ideation, product development, customer engagement, and fundraising
        • Monthly compensation + significant founder level equity

          Note: Deliverables such as market research reports, interview records, customer contacts, branding, and creative work, MVP design, as well as software and/or hardware developed in our program are temporarily owned by NEC X, and subject to exchange with equity. All work will be transferred and owned by the startup, and accompanying patents will be licensed when the startup is spun out and incorporated. Each startup can create its own IP in addition to the transferred and/or licensed IP.
          Learn more about us at https://nec-x.com.

Keywords: NEC X Inc., Palo Alto , Entrepreneurs In Residence, Other , Palo Alto, California

Click here to apply!

Didn't find what you're looking for? Search again!

I'm looking for
in category
within


Log In or Create An Account

Get the latest California jobs by following @recnetCA on Twitter!

Palo Alto RSS job feeds