inRes 2015: Frequently Asked Questions

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What is the inRes Program?

inRes, short for “in Residence,” is a very early stage acceleration program for entrepreneurial teams working in Information and Communication Technologies (ICT), in Portugal, offered by the Carnegie Mellon Portugal Program.

To whom it is targeted?

inRes is targeted to entrepreneurial teams, working in areas related to Information and Communication Technologies (ICT), in Portugal, who: want to start a company and commercialize a technology; have proven technical feasibility of their product or service; have had enough initial interaction with their target markets and industries, to have minimally consistent product or service and business concepts; and are not yet established companies regularly selling their products or services.  

What problems are addressed by the inRes Program? 

Early stage high-tech new ventures, academic spin-offs in particular, when led by less experienced entrepreneurs, often have human and social capital gaps. These gaps may be even more significant when these new ventures are developing in regions with a low density of high-tech markets and industries. Entrepreneurial teams in these contexts often lack: specific competences for the management of early stage technology businesses; mentoring and contacts with potential advisors; and contacts with potential customers, partners, industry experts, and funding sources. As a consequence, they may develop more slowly and with inferior performance. inRes seeks to address these hurdles by providing entrepreneurial teams a structured immersion period in Pittsburgh, in the U.S., anchored at Carnegie Mellon University (CMU), in which they will benefit of an environment with a high density of world-leading research groups,  as well as market and industry specialists, in a variety of high-tech areas. The immersion focuses on: accelerating and improving the development of the teams’ product or service and business concepts; reinforcing the managerial capabilities required to lead an early stage technology venture; supporting the construction and expansion of a network of potential customers, suppliers, partners and advisors.

What is the difference between "Entrepreneurial Teams" and "inRes Teams"?

It is useful to distinguish between the two teams. The entrepreneurial team is the full group of people that are developing the startup project. The inRes team is a subset of the entrepreneurial team that participates in the immersion, and consists of two members. Ideally these two members should be founders and/or leaders of the entrepreneurial team, with the expectation of continuing to lead and remaining strongly committed to the future development of the startup project. Among the two, they should combine as much as possible of the core business and technology expertise available in the entrepreneurial team.  

What is the role of inRes teams in the program? 

The inRes teams participate in all the sessions organized in Portugal during the Preparation phase, actively engaging in both workshops and one-on-one meetings for feedback and orientation, and turning in all the requested deliverables with appropriate quality and in a timely manner. The inRes teams will be fulltime dedicated to inRes during sessions in the Preparation phase in Portugal, and each member is expected to dedicate a minimum of eight hours each week to the work that is required between sessions and prior to the beginning of the immersion. The inRes team is expected to be dedicated fulltime to inRes also during the immersion period at CMU.   

What is the inRes Initiative looking for in a team? 

The inRes is looking for applications with: a strong and committed team, capable of taking advantage of an immersion period in the US; an ICT-based product or service, with proven technical feasibility, a clear value proposition, and a clear competitive advantage; a product or service that caters to a strong need, in a large market, with a favorable competitive position; a realistic path to market; a reasonable level of initial interactions with target markets and industries, and minimally consistent product or service and business concepts; projects that are not yet established regularly selling products or services. 

Why a partnership with Carnegie Mellon University and the Pittsburgh Region?

inRes is a natural step forward for the CMU Portugal Program. Since its inception, and through its multiple initiatives in education, research and innovation, the Program has directly contributed to the creation of 10 startups. The exposure to CMU’s innovation ecosystem, stimulating and enabling top talent to generate and pursue groundbreaking ideas, and transform them into viable businesses, has been crucial in this process. In 2013, faculty and students at CMU launched a record number of 36 new companies. CMU's main campus is located in Pittsburgh, the second-largest city in the U.S. Commonwealth of Pennsylvania. The five key sectors of the Pittsburgh region’s economy are advanced manufacturing, energy, financial and business services, healthcare and life sciences, and information and communications technology. These sectors create a very diverse, resilient, and predictable regional economy.

How to submit an application?  

The two team members that will participate in the inRes Initiative should submit the application form in English (word document), on behalf of an entrepreneurial team. The application form will identify and describe: the team and the two members that will participate in inRes; the endorsers; the technology, product or service, market, and business model; the development stage and path to market. The application form, the CVs, motivation letters and a minimum of two reference letters must be sent by email to inRes@cmuportugal.org. The deadline for submission of applications is May 8, 2015.  

What is the importance of reference letters?

The application form should be submitted with two reference letters, written by the endorsers, about the project and/or the team. The goal of these letters is to vouch for the relevance of the project and/or the entrepreneurial intentions, commitment and talent of the team members.
 

 

 
If you have questions about the inRes 2015 edition, please send an email to: inRes@cmuportugal.org.