By Nadine Kavanaugh, Associate Director, Wharton Entrepreneurship
Working at a startup isn’t like working at an established company. At Wharton Entrepreneurship, we know that one path into entrepreneurship is through spending time at a startup, and seeing what it’s really like at a new and growing company—from the inside. Interns at startups often have opportunities that they couldn’t dream of at an established company: there’s so much happening that a motivated intern can own a project and build it from scratch, all in a summer.
The one thing that startups often don’t have is a lot of money to pay interns with.
That’s where we can help. Every year, we give away tens of thousands of dollars in Entrepreneurial Intern Fellowships to students who are interning at startups, to supplement what the startup can pay them. This can make up some of the difference between what a student might have made at a traditional internship—or simply make it possible for the intern to pay for necessities like food and shelter while having a potentially life-changing experience.
In 2014, we awarded Fellowships to 51 students: 23 MBA and 28 undergrads. While the amount of applicants was on par with previous years, the quality was exceptional. We gave out 30% more awards this year than last; the applicants were just that good.
40% of the recipients will be interning in New York City, 25% in Philadelphia, and almost 20% in San Francisco. This year there are 2 international fellowships, both in Brazil.
All of these students are at their internships now—keep an eye out for their reports in the fall!