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Cisco is about to launch an new program for Entrepreneurs. It’s called Entrepreneurs In Residence. The accelerator is aiming at helping and boosting early stage entrepreneurs who are working on “the next big ideas” in enterprise web. In the past weeks, we have been able to reach Tom Yoritaka, who is the Managing Director at Cisco EIR.
What is Cisco Entrepreneurs in Residence about?
Cisco Entrepreneurs in Residence (EIR) is about supporting early-stage entrepreneurs who are committed to improving the lives of ordinary citizens the world over through game-changing B2B ideas – and fundamentally reshaping the future of our industry.
Cisco EIR supports entrepreneurs in our program through funding, basic infrastructure and access to Cisco engineering, product and business groups as well as to our partners, VCs and the broader start-up community.
Many of the entrepreneurs we speak with every day share how challenging it is for startups to get traction with established companies like Cisco. Our program is about connecting the previously unconnected – connecting innovations and connecting people. We give entrepreneurs the resources and the freedom to build what they want to build, how they want to build it.
Cisco EIR also creates an important connection for Cisco to the start-up community, exposing us to the innovations that will help accelerate our evolution as a company.
How do you select your candidates and what you are looking for?
We look for candidates who can think products first and technology second because we want to support entrepreneurs who are trying to make a lasting impact on people’s lives and address today’s pressing market needs. Those applying for Cisco EIR should have a business plan, a working demo and an initial core team of engineers.
We have a very rigorous entrepreneur vetting process. It consists of multiple steps of interviews, presentations and demos.
Have you got any success story?
We are about to launch our 1st cohort. We hope to come back with a success story in the near future.
What tools does Cisco provide to startups?
We provide basic infrastructure such as off-campus co-working space in the San Francisco Bay Area and collaboration tools.
Is there any kind of startup that you prefer the most in the applications or you accept whoever has a good idea?
Our door is open to any passionate and capable entrepreneur, but we do focus on several B2B areas that are of particular importance to Cisco, including Internet of Things/Everything (IoT/IoE), cloud services, enterprise security, knowledge management, big data and enterprise mobility.
What’s the value of running a program like this in Silicon Valley?
Silicon Valley is where we see the greatest concentration of technical talent. Silicon Valley has other necessary elements that make it a superb environment for programs like Cisco EIR – such as broad-based start-up infrastructure, diversity and entrepreneurial energy.
Are you planning to export the program in other startup scenes worldwide?
Our current focus is on Silicon Valley – but we hope to globalize Cisco EIR to key start-up communities across the U.S. and around the world.
