Boomerang Ventures combines a venture studio and venture fund to provide capital and hands-on expertise to very early-stage life science start-ups to build them more quickly and effectively toward a fast, lucrative exit. First time founders needing business, technical and other expertise to form and build a new company (NewCo) are a good fit for the Studio.
A XiR is either an entrepreneur with a proven track record in startups or an executive with a successful track record in established corporations. XiR’s determine their work schedule with the studio director, but a minimum commitment of 20 hours per week is required.
The Boomerang Studio purpose and passion is to transform lives and we do this in our niche of bringing amazing connected healthcare ideas to life. The XiR provides the business expertise, strategic leadership, and hands-on execution of the Boomerang Launch System to the studio team and founders, with the goal of forming, launching, and eventually exiting multiple NewCo’s. The XiR has the potential opportunity to join the NewCo as CEO (or another leadership role) upon company formation or to remain in the studio and lead additional new project ideas forward.
Role and Responsibilities
- Reports to the Boomerang Studio Director.
- Contributes to the deal flow pipeline and screens new ideas and founders for fit with the studio (and vice versa) and presents the case to bring new ideas into the Studio.
- Leads assigned projects following the Boomerang Launch System (BLS) to complete Stage 1 (intake) and Stage 2 (business planning) deliverables, provides regular project progress reports, proactively engages with the Boomerang team, and justifies why projects should gate into the next BLS stage.
- Builds the Stage 3 business and resourcing plan and gains approval as part of the stage gate review process.
- Guides the founding team within the BLS to leverage their strengths and meet their commitments.
- Identifies, evaluates, negotiates, contracts with, and manages the work and performance of outsourced services providers needed to achieve stage gate deliverables.
- Ensures high-performance results for BLS requirements for each project stage and drives continuous improvement of project and BLS elements.
- Provides interim services and support as required by each NewCo after formation.
- Proactively expands startup company expertise through personal networking, learning, and leveraging the resources provided in the Boomerang Studio Education Resources.
- “A Player”; proactively finds a way to overcome challenges and get things done; embodies a high-performing team player who drives desired outcomes.
- Identifies and manages startup/project risks and uncertainties; able to make timely decisions with small data sets after prudently balancing risks/rewards.
- Closely matches the Boomerang Studio Core Values:
- Results Driven
- Problem Solver
- Customer Oriented
- Strong leadership skills; takes ownership of team results and drives cross-functional teams to success.
- Collaborative and supportive team player; leverages team strengths and mitigates weaknesses.
- Understands fundraising needs and develops de-risking milestones/data to build a compelling investor story.
- Proactively develops networking connections with investors, founders, suppliers, resources, and entrepreneurial ecosystem stakeholders.
- Passionate about learning new markets and enhancing human lives through improved healthcare.
- Strategic yet willing and able to work in the trenches; strong sense of urgency.
- Broad understanding of life sciences including end markets, regulatory issues, companies, and institutes.
- Analytical; gathers and synthesizes data to build customer validation, product-market fit, and compelling business cases.
- Proven leader with 10+ years of entrepreneurial or executive experience with strong product-market strategy expertise and pertinent technical/process expertise.
- Excellent communication skills; willing and able to raise tough topics in an open and respectful way;
- Excellent business execution, project management, and work prioritization skills