Thursday, September 11, 2008

Michigan Students to Get Internships with Start-Up Companies

Some Michigan colleges are partnering with start-up businesses to help students get internships.

The Michigan Entrepreneurial Education Network, a partnership between the Small Business Foundation of Michigan and the Small Business Association of Michigan is teaming up with area colleges to support students who want to partake in internships with start-up businesses.

This summer Michigan State University received an $80,000 grant to fund a pilot program linking it with three other universities and some start-up businesses, according to an article by the Western Michigan Business Review.

"More business students this year will experience the promise and perils of entrepreneurship as Michigan colleges step up internship arrangements with start-up companies," the article notes.

"Developing networks among young companies and business students can nurture growth of Michigan's economy, proponents say, by better preparing students for the broader perspective needed to start businesses or to work at the young enterprises expected to drive growth in the 21st century," the article continues.

The program will include on-the-job training and an online virtual boot camp, which will help students learn business-plan training modules. The series, dubbed Cantillon eCourse, was developed by Ann Arbor SPARK. The program is expected to help companies find and maintain talented students.

The funds for the program came from the Michigan Initiative for Innovation and Entrepreneurship, which partners the state's 15 state universities in an effort to rebuild Michigan's economy by nurturing knowledge-based businesses. Eastern Michigan University and Central Michigan University also won grants for entrepreneurial internship programs in the MIIE's first round of funding.

In July, the MIIE in announced 20 entrepreneurship grants totaling $1.3 million, that would be matched by $2.2 million from other partners and sources. With $2 million in support from the C.S. Mott Foundation, MIIE aims to raise and distribute $75 million throughout the next seven years, mostly through donations from some of the more than 2,200 philanthropic foundations in the state.

1 comments:

Michael said...

The Michigan Entrepreneurship Education Network has also issued a report that profiles Michigan entrepreneurship education programs. Get it at http://www.sbam.org/download.php?id=711&file=3.