Executive Director in the Raleigh-Cary-Durham-Chapel Hill, NC

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CPPP/USA/02
Organization, Position & Person Profile
Blackstone Entrepreneurs
Network
Executive Director
May 2011
Heidrick & Struggles advises the company on the basis of an exclusive consulting
assignment. The following details are for your personal information and should be kept
confidential.
Organization, Position & Person profile Blackstone Entrepreneurs Network 2

The Organization
The Research Triangle Park region, located in the Raleigh-Cary-
Durham- Chapel Hill, North Carolina area and formed by the
geographic nexus of the region's world-renowned universities —
Duke University, North Carolina Central University, North
Carolina State University, and the University of North Carolina at
Chapel Hill—has long earned a reputation for being a knowledge
hub.
Fifty years ago, community leaders seized an opportunity to
harness the research capabilities of its universities and built the
now-famous Research Triangle Park. This 7,000 acre research park
successfully recruited corporate research and development facilities,
created high-paying jobs, and contributed to a high-standard of
living in the region.
Today, America is facing new challenges, demanding new and
creative responses. The financial crisis that started in late 2008
continues to burden people and institutions throughout the region,
state, and nation. Competition from abroad is forcing America to
seek innovations that will create new industries, products, services,
and processes to help secure its future as a global economic leader.
Recognizing this reality, funders, including the federal government,
are demanding that a greater proportion of research be converted
into such innovations.
Once again the RTP region must harness its collective assets to
spur economic growth. Today, it is by converting its innovation
potential into jobs, wealth, and competitiveness through
entrepreneurship.
Last year alone, universities and research institutes in the RTP
region brought in more than $2 billion in research dollars. Yet the
region has not converted those investments into tangible products
and services. Leaders in the RTP region are committed to these
goals and to making the area one of the top five entrepreneurial
Organization, Position & Person profile Blackstone Entrepreneurs Network 3
hotspots in the U.S.
Leaders of Duke, NC Central, NC State, University of North
Carolina at Chapel Hill, and the Council for Entrepreneurial
Development have formed a five-member coalition working closely
with the funder, The Blackstone Charitable Foundation. Together
they haved designed and are ready to implement the Blackstone
Entrepreneurs Network (BEN) to help achieve this goal. The
Blackstone Charitable Foundation believes strongly in the power of
entrepreneurs to create opportunity and exert a positive economic
impact. It funds selected initiatives and activities that promote job
creation, innovation, and economic growth and has identified the
RTP region as an area rife with unrealized entrepreneurial potential.
The Initiative
The goal of the Blackstone Entrepreneurs Network is to translate
high-potential ideas into innovative growth firms that contribute
jobs, wealth, and competiveness to the region, state, and nation. It
will do this by harnessing the talent of the private sector. This
innovative approach is based on research into how best to ignite
home-grown growth ventures and draws upon lessons learned
from a variety of sources: from people who have been-there-donethat,
from accelerator and mentoring programs, venture portfolio
management models, and social capital development initiatives.
The power of the model lies in the combination of a dynamic
Executive Director and 15 Master Entrepreneurs working together
as a unit to identify and assist the right clients (highest potential
growth firms). The Network will use its collective wisdom and
contacts, pull in resources from around the world including
multidisciplinary graduate student consulting teams, and help find
the right funding resources. The Blackstone Charitable Foundation
and The Blackstone Group LP, a leading investment and advisory
firm, will also be actively involved in the Network.
The Network is designed as a five-year program, and is supported
by a three year grant from the Blackstone Charitable Foundation.
Additional funds will be raised for years four and five. Success will
Organization, Position & Person profile Blackstone Entrepreneurs Network 4
be measured by numbers of high-value jobs created, capital
invested in the Network's client companies, revenue generation by
ventures launched through the efforts of the Network, and by the
number and impact of innovations. This Network will at the end of
five years have identified and helped more than 150 firms each with
the potential to generate $40 million in revenue in ten years.
The Executive Director has the unique opportunity to be in on the
ground floor of building a new model that is likely to be adopted
around the world in knowledge-intensive, underperforming
entrepreneurial areas. The funder is interested in replication, will
work closely with the Network leadership, and will be ready to
entertain an expansion plan upon proof of BEN's efficacy.
Tracking and measurement are built into the model. It is projected,
that at the end of ten years, client companies will generate more
that 17,000 jobs, $800 million in investment capital, and generate
revenues of $4.8 billion in the RTP region.
The Region
The RTP region offers an unrivaled quality of life, from its dynamic
cultural amenities and vibrant history to its world-class medical
facilities, educational opportunities and outdoor recreation.
Located equal distant between North Carolina's Appalachian
Mountains and its celebrated coastline, the Triangle is an
unsurpassed region in which to work and live.
As one of the key economic drivers, RTP works with partners
around the Research Triangle region and the state of North
Carolina to help attract quality employers to locate or expand in the
region.
Despite the recession, several RTP companies have expanded.
Companies in the Research Triangle region find many benefits to
growing their presence here, in large part due to the region's strong
business climate and knowledge assets, as well as strong support of
state leaders to encourage job growth and the state's continued
investment in high-tech worker training.
Organization, Position & Person profile Blackstone Entrepreneurs Network 5
In 2010, North Carolina was recognized as the state with the "Top
Business Climate" by Site Selection magazine for the ninth time in 10
years.
Talent is the region's most valuable asset. The region is home to
some of the most educated and talented people in the world.
Today 53 percent of the Raleigh-Durham-Cary Combined
Statistical Area population holds a bachelor's degree or higher. The
combined knowledge assets of the region provide unparalleled
resources to North Carolina companies, universities, and area
entrepreneurs
Universities have always been at the core of the region's success.
Anchored by the research strength at Duke University, North
Carolina Central University, North Carolina State University, and
the University of North Carolina at Chapel Hill, RTP-based
businesses have immediate access to employees with competitive
skills and researchers with discoveries and inventions that are
changing the world. State and regional leaders have taken tangible
steps toward realizing their commitment to becoming one of the
top five entrepreneurial hotspots.
Given the moderate cost of living in the region, high-quality,
reasonably priced labor is one of the preeminent advantages of
locating in the RTP region.
Workforce development programs, supported by the region's 11
other universities and higher education institutions, enable
employers to continually expand their workers' skills to compete in
the constantly evolving technology sector.
Statistics from the U.S. Census Bureau (September 2009; Raleigh-
Durham-Cary CSA) show the region boasts:
 The 3rd highest percentage of adults with at least a
bachelor's degree in the U.S.
 The 4th highest percentage of adults with a master's degree
 The 6th highest percentage of adults with a doctorate or
Organization, Position & Person profile Blackstone Entrepreneurs Network 6
professional degree.
Few areas can rival the Research Triangle for the quality of life it
offers. In a prime location in the Southeast, it offers a temperate
climate, lush natural settings, and proximity to the mountains and
some of the East Coast's most desired coastline.
The Triangle region also offers top-rated health care and school
systems, and gracious Southern hospitality. It boasts a lively
environment with a full menu of cultural and sporting events. All
these factors make it easy to see why North Carolina is growing at a
rate twice the national average.
A variety of publications have singled the area out for special
recognition. These accolades include:
 Eighth safest city in the U.S. (Cary, NC) – CQ Press,
November 2010
 Top city for quality of life (Raleigh, NC) –
Portfolio.com/bizjournals, May 2010
 Second brainiest U.S. city (Durham, NC) – The Daily
Beast, 2010
 Tenth greatest city for raising families (Raleigh, NC) –
Kiplinger's, August 2010
 Next Hot Youth-Magnet Cities (Raleigh-Durham, NC) –
The Wall Street Journal, September 2009
Organization, Position & Person profile Blackstone Entrepreneurs Network 7
The Position
Position Overview: The Executive Director will build the program and lead this
Network focused on developing growth firms. He/she will
coordinate the operations working closely with a wide group of
constituents and manage the day-to-day operations of the
Blackstone Entrepreneurs Network.
The Executive Director will report to a five person Steering
Committee composed of one senior executive from each the five
partner institutions who report directly to the partners' CEOs on
matters of innovation and entrepreneurial development.
Working closely with the Steering Committee, he/she will help
identify the group of 15 Master Entrepreneurs. The Executive
Director will then help this group select and guide a group of 30 of
the most promising growth-potential teams toward serious
investors.
He/she will work to enhance and broaden recognition of the
Research Triangle Park area as one of the nation's most vibrant and
resource-rich regions for launching and growing new businesses.
This person will also work with members of the broader BEN
community to help raise seed money for BEN's client firms.
He/she will have supervisory responsibility for staff within the
Office of the Executive Director, to include a full-time
administrative assistant and a half-time communications manager.
The Executive Director will oversee this staff of 1.5 FTE direct
reports and a total 3-year budget of $3.6 million.
Organization, Position & Person profile Blackstone Entrepreneurs Network 8
Specific Responsibilities
Specific Responsibilities of the Executive Director include:
 Guided by the proposal funded by the Blackstone Charitable
Foundation and in conjunction with the Network Steering
Committee, making operational the concepts described in that
document.
 Supporting the Steering Committee in their duties;
 Serving as the public spokesperson for the Blackstone
Entrepreneurs Network in close collaboration with the
Steering Committee;
 Hiring and managing staff;
 In conjunction with the Steering Committee, helping identify
and select the Master Entrepreneurs;
 Tracking and reporting on program outcomes and
documenting the model for future replication.
 Ensuring programmatic and financial fidelity to the proposal
including preparing detailed reports for the Steering
Committee; and
 Assisting with fundraising for years four and five.
Organization, Position & Person profile Blackstone Entrepreneurs Network 9
The Person
Qualifications,
Experience,
Leadership and
Management Skills
The Executive Director is an accomplished, high-profile individual
with a proven record in management, team building, coaching
entrepreneurs, and a deep knowledge of entrepreneurial
ecosystems.
He/she can demonstrate the ability to build, manage an
organization from start-up to effective operations and brings
credibility nationally and globally to BEN's mission. The
successful candidate has an existing strong network of contacts in
the entrepreneurial, business and academic arenas across the
nation.
This person's understanding of entrepreneurship is derived from
personal experience—he/she may be a "serial entrepreneur"—but
at any rate speaks the "language of the entrepreneur."
The successful candidate knows how to startup an organization,
can create the nuances of the program for scouting, selecting, and
coaching high-potential startups, is highly regarded by the
entrepreneurial community, and can exert influence.
The successful candidate must have credibility with master
entrepreneurs, understand entrepreneurial development, and
successfully interface with the Master Entrepreneurs (MEs), clients,
university partners, venture investors, and community resource
providers.
This person is a powerful and persuasive strategic communicator
who knows how to build the reputation of the Research Triangle as
a successful and highly desirable incubator for innovative
businesses regionally and nationally. He/she understands the value
of the Research Triangle's world-class academic resources and can
effectively convey its worth to entrepreneurs, venture capitalists
and other potential funders.
Organization, Position & Person profile Blackstone Entrepreneurs Network 10
He/she is a visionary leader who can work with a high level Board
to develop and implement a strategic plan to build and expand the
Blackstone Entrepreneurs Network.
The successful candidate has more than ten years of executive
managerial experience in the public or private sector, or both. This
person has demonstrated his/her ability to build, market and brand
an organization.
He/she has an undergraduate degree in business or public
administration, or a related field from an accredited four-year
college or university is required. A graduate degree is very desirable.
This person is a proven leader in working with senior executives
and academic leaders. He/she has significant experience building a
business or business-related organization and can demonstrate an
ability to make a strategic vision into reality. The successful
candidate can quickly assess the strengths and weaknesses of each
institution involved in BEN in terms of their contribution to the
successes of potential entrepreneurial ventures.
He/she can effectively articulate the needs and desires of BEN's
member institutions as well as the needs of the Research Triangle
marketplace and the needs of the state.
He/she has demonstrated skill in multi-year strategic planning and
plan implementation. This person is an excellent communicator—
a compelling and persuasive speaker who is as comfortable making
presentations to large groups as to individual executives and
academic leaders. Self-confident and collegial, this person is an
excellent listener.
The successful candidate is a strong leader who has hired,
mentored and built successful, productive staffs. This person sets
goals and holds him/herself and his/her staff accountable to
measureable goals. This person is a gifted communicator who
flourishes on hard work and the opportunity to be innovative.
He/she has significant fundraising experience, either as part of
their professional portfolio or as a Board member or volunteer for
a nonprofit organization. The successful candidate is a creative
Organization, Position & Person profile Blackstone Entrepreneurs Network 11
thinker who looks beyond the ordinary to explore opportunities
and alliances others routinely overlook or undervalue.
This person thrives in a collaborative environment and understands
how to work within and achieve strong results in a mission-driven
organization.
The successful candidate has a strong commitment to the
Network's mission and a genuine passion for its work.
Personal
Characteristics
This person is enthusiastic and energetic; someone who has a fresh
perspective on business and who regards building entrepreneurial
businesses as a creative process. He/she may have worked or
attended college in the Research Triangle area, and in any case must
be able to quickly acclimate to the region and develop an in-depth
knowledge of its resources.
The successful candidate thrives on making new contacts and in
bringing together people with a common mission but disparate
backgrounds and points of view.
He/she is genuinely outgoing and has an engaging personality and
a quick, inquisitive, creative mind and strong analytical skills.
Diplomatic and collegial personality, the successful candidate has
high professional standards and sound mature judgment. This
person can think through issues and enjoys developing an idea or
program from concept to implementation.
A naturally gifted and persuasive communicator, this person enjoys
being the face and voice of an organization, is excited by and can
excite others by a business mission.
This is a "people person" who is excited and enthusiastic about
becoming an integral part of a growing, mission-driven
organization.
He/she is a person of great integrity, sound judgment and excellent
business acumen. This person is a bridge-builder and collaborator
who respects the viewpoints of others and builds trust.
Organization, Position & Person profile Blackstone Entrepreneurs Network 12
Heidrick & Struggles Contacts
Heidrick & Struggles
1114 Avenue of the Americas, 24th
Floor
New York, NY 10036
telephone +1 (212) 867 9876
facsimile +1 (212) 370 9035
www.heidrick.com
Nathaniel Sutton
Vice Chairman
direct line +1 (212) 551 0536
e-mail nsutton@heidrick.com
Ellen Brown Landers
Principal
direct line +1 (404) 682 7313
e-mail ebrown@heidrick.com
Gianna Shepard
Associate
direct line +1 (212) 699 3141
e-mail gshepard@heidrick.com
Angélique McKoy
Executive Assistant
direct line +1 (212) 551 0537
e-mail amckoy@heidrick.com
Pamela Adley
Executive Assistant
direct line +1 (404) 682 7333
e-mail padley@heidrick.com