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Executive Director, Venture Creations

Venture Creations, a new-business incubator, is a non-profit subsidiary of the Rochester Institute of Technology (RIT).  Its focus is on entrepreneurial education, mentoring, and support services for new business ventures that lead to the creation and launch of successful technology business while providing experiential learning opportunities for RIT students and faculty.  Its primary clients are the faculty, staff, students, alumni and friends of RIT.

The executive director is employed by RIT and reports to its Vice President for Research who seeks input and advice from the Venture Creations board of directors on incubator operations, progress, and growth as well as the director's performance. The executive director is responsible for the management of the incubator staff and activities including day to day operations, the identification and acceptance of new business clients, the mentoring and support service provided by Venture Creations to clients, and the operations of an embedded student incubator.  The executive director works closely with the faculty and staff of RIT's academic center for Innovation and Entrepreneurship that provides experiential learning opportunities to its students. The position requires high levels of leadership, organizational, financial, and business acumen, and must have had experience with one or more start-up businesses.

1.      The primary working relationships established and maintained by the executive director are:

a)      Clients, staff, and contractors of the incubator

b)      Faculty, staff, students, alumni of the RIT

c)      Major universities and research labs

d)      Key industry leaders

e)      Angel investors and venture capital groups

f)        Sources of external support for incubator clients

g)      Key trade, civic and professional organizations as appropriate to the incubator's priorities

h)      High tech companies in which research activities afford opportunities for significant advancement in the stated mission of the incubator

i)        Sources of grants and capital from federal, state, foundations and private organizations that complement the mission of the incubator

2.      The responsibilities of the executive director are:

a)      To provide day to day oversight of incubator operations.

b)      To search out, analyze and recommend clients for the incubator according to established prerequisite admission standards.

c)      To supply timely and cogent services including mentoring, consulting, and information to the incubator clients to ensure the maximum chance of business success for their companies.

d)      To prepare, modify and execute the strategic plan of the incubator maximizing successful company launches while supporting experiential learning of RIT students and faculty.

e)      To develop and implement the annual operating plan of the incubator as approved by the RIT management and incubator board.

f)        To direct employees and contractors to achieve agreed-upon objectives.

g)      To track and measure progress toward incubator objectives and to supply timely and informed reports to the RIT management and incubator board.

h)      To facilitate integration of incubator services with on-campus programs of technology transfer and business plan competitiveness.

i)        To facilitate the activities of the incubator board and external consultants in support of client success.

j)        To carry out all commitments made contractually between the incubator and any other legal entity.

k)      To conduct the affairs of the incubator in accordance with applicable state of <st1:place w:st="on"><st1:state w:st="on">New York</st1:state></st1:place> and federal laws and regulations.

3.      The ideal executive director should have the following qualifications:

a)      A college degree or equivalent experience in engineering, business or the physical sciences. 

b)      The applicant should have managed successful organizations.

c)      The applicant should have experience in:

• business start-ups, preferably in a technology area
• commercializing technology
• the "incubation" process for start-up companies
• locating sources of capital for various operations such as start-up businesses, incubator operations, or research and development activity

d)      The applicant should have a successful record of "networking" skills and community interactions relating to business development.

4.      The executive director shall have the following authority:

a)      To hire and terminate employees and contractors as required for executing the strategic and operating plans of the incubator.

b)      To screen client candidates according to the prescribed admission criteria.

c)      To admit and terminate incubator clients.

d)      To execute contracts and legal documents.

e)      To recommend funding opportunities to the board.

5.      Compensation:  TBD

For Further information, contact Prof. Ash Rao

Rao@babson.edu