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The idea of an Entrepreneur-In-Residence originally comes from the venture capital industry. It is a position or title typically held by an experienced entrepreneur or business professional. As this entrepreneur or business professional typically is very experienced in a particular area, his or her expertise is often very valuable to venture capital firms, universities or other organizations especially in the case these organizations would like to develop activities in that particular area. The Entrepreneur-In-Residence program helps a newly formed technology company to have access to the right person to manage it and take it forward.