Internships

Skandalaris Center subsidized internships were first offered in Summer, 2002, through a program subsidized by the Ewing Marion Kauffman Foundation. The Center's internship program was significantly enhanced in the summer of 2008 with a $1 million gift from Mr. and Mrs. Robert J. Skandalaris. The gift enables the Center to pay a stipend to student interns and provide room and board for them on campus for the 10-week internship. The only cost to a first-time sponsoring organization is a one-time payment of $1,000 due at the start of the internship. (An organization may hire a second intern for the full cost of $6,000, but only a limited number of these full-cost internships is available.) The enhanced program provides for a rich learning and on-campus living experience for undergraduate students. Students work at their internship Monday through Thursday. On Fridays, interns attend lunch and an afternoon session to learn how to start, develop, and sustain new enterprises. Ventures sponsoring interns and guest entrepreneurs from the community participate as panelists in the Friday sessions, concluding with a social hour for the interns to interact and connect with the guests. These Friday after-lunch sessions are free and open to the public.

In 2008, the first summer of the new program, 22 undergraduate students representing each of the University's four undergraduate Schools and Colleges interned with eighteen St. Louis-based entrepreneurial ventures. In 2009, the program grew to 28 students. These students were significant contributors to the host organizations with CEOs commenting that their Skandalaris interns were pivotal in moving their organizations forward. Several companies even offered students extended internships and full-time employment.

The Process

Both students and sponsoring organizations must qualify for the program. Download the qualifying application for students or sponsoring organizations and submit to entrepreneurship@wustl.edu, then plan to attend the Internship IdeaBounce® on Friday, February 5, at 4:00 PM. To pre-qualify for a subsidized interm prior to the IdeaBounce®, ventures must submit their application by January 28th.

The main criteria the Center uses to determine venture eligibility to participate are the entrepreneurial nature of the opportunity for the student and the relationship that the student will have with the founder/entrepreneur. We give priority to startup or early stage ventures with high potential for growth, but will consider more mature ventures if they are working on new and innovative products or services. Typical organizations have less than $50 million in revenue or fewer than 100 employees. Nonprofits are also eligible, but we would give priority to a venture currently running a social enterprise (i.e. generating earned income revenue), in the process of implementing one, or engaged in a highly innovative and entrepreneurial social program. We will also consider the appropriate mix of commercial and social ventures when we approve applications from organizations. Only ventures based in the St. Louis Metropolitan area are eligible to allow entrepreneurs and interns to participate in the Friday afternoon sessions. Additional information about the student qualification process is included in the application.

The Skandalaris Center will host the February 5 IdeaBounce® to connect interested students and organizations. The format will depend on the number of applications that we receive, but we hope to have sufficient time for organizations to deliver a brief (no more than 60-second) pitch on their opportunities. Students and organizations typically "speed interview" during the reception following, including setting up times for formal interviews.

Also, students may recruit an organization by securing an internship with an emerging commercial or social venture, and seek funding through the program. Those organizations will need to complete an application to qualify. The Skandalaris Center will also maintain a directory of all pre-approved organizations for students who are unable to attend the IdeaBounce®.

Ten-week internships will run from June 6 through August 14, 2010.

Questions?

Students - contact II Luscri, Student Services Coordinator, at luscri@wustl.edu.

Organizations - contact Aimee Dunne Zander, Community Outreach Coordinator, at dunnezander@wustl.edu.

Quotes from past student participants:

• I gained greater insight about how valuable it is to be collaborative and flexible. I also learned more about economic development in terms of small business.
• Even for a non-profit the business still needs to find a way to break even. This often includes thinking of creative ways to generate revenue or funding. Entrepreneurship covers such a wide spectrum of skills; so many details go into starting a business, many of which I hadn't thought about before.
• My internship taught me the importance of being flexible and willing to adapt to an ever-changing set of circumstances. The company often had a set of goals it wanted to accomplish. However, how we accomplished those goals was often much different than we had originally planned.
• Being involved with a start-up allowed me to understand many of the details and strategy that are involved with getting this type of venture "off the ground." In addition, it exposed me to some very high-energy, bright people. Finally, working with the company allowed me to be exposed to a new industry.
• I learned that integrity and the ability to work with people are more important than anything else in business---you can learn everything else you need to know along the way. Flexibility, patience, determination and optimism are extremely valuable qualities for anyone interested in an entrepreneurial venture. At the end of the day, it means a lot to know that my work can have tangible, meaningful, positive impact on the world around me.
• My internship experience altered my view of what it takes to survive as an entrepreneur. It also helped me focus my career search and helped me understand what I want to do after school. It was a truly valuable experience.