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Center for Entrepreneurial Studies

 
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Entrepreneurial Summer Program

Applications for 2012 are being accepted. The deadline to participate in the program is noon on Wednesday, May 23, 2012 - by this date, the company must have hired a student and submitted the company application, student application and a copy of the offer letter signed by both parties. Student internships begin June 18 and typically run 10 weeks.

 

 

Introduction: Entrepreneurial Summer Program 2012

The Center for Entrepreneurial Studies offers the Entrepreneurial Summer Program (ESP) to support students in gaining experience working at early stage companies during the summer. The companies benefit through affordable talent to solve pressing issues in their company's growth.

ESP offers both a programing component for all students working at early stage companies as well as financial stipends for approved company/student combinations.

Key points to know:

  • The deadline for completed and approved student/company applications is 12:00 noon, May 23, 2012. Note, you must have hired a student and submitted all paperwork (company application, student application and copy of offer letter signed by both parties) by then.
  • Since stipends are awarded on a rolling basis, we may run out of funds before the deadline.
  • Both the company and the student must meet certain guidelines (see right) for the GSB financial stipend to be approved.

Recruitment ProcessAlterG

A company may either:

  • Apply in advance to be pre-approved for funding and then recruit a student (we'll help market the opportunity); or
  • Find a student intern and then apply together for funding.

 

If you are interested in hiring a student, but do not have a candiate identified:

  • Complete the company application and submit it to the CES.
    • Companies must offer a reasonable portion of compensation. See the GSB employment reports for market averages as a guideline. The GSB can supplement what you pay to get the student to a "market rate."
    • We will give you feedback within 2 business days.
    • Because our deadline is May 23 (see below), we recommend you submit your company application by May 1 to give you time to interview and select your student.
  • Post your position as soon as you can through the GSB Job Board. You don't need to wait for ESP approval to post the job.
    • We will market the approved ESP roles to students via various methods. However, each company must conduct its own recruiting process as we do not offer a matching service.
    • If students are interested, they will contact you directly and you schedule your own interviews.
    • Interview students and extend an offer.
    • Note: you are not obligated to hire a student if you do not find a suitable candidate. Likewise, you are not guaranteed a student.
  • Once you have extended an offer, the student submits his/her application to us for approval. Deadline: 12 noon, May 23, 2012.
    • Note, for our funding, we give preference to students qualified for financial aid from the GSB. If you extend an offer to a student who has not qualified for financial aid, (s)he is less likely to receive ESP funds. (S)he may still accept the job based on your compensation only.
    • International Students are eligible for funding.

If you have identified a student intern but are not pre-approved:

  • Submit the company application with proposed compensation. We will respond quickly to confirm or suggest changes. Extend an offer to a student, then the student must submit his/her application and a copy of the offer letter signed by both parties to secure the funding.
    • Companies must offer a reasonable portion of compensation towards the targeted market average. See the GSB employment reports for market averages as a guideline.
    • Note, for our funding, we give preference to students receiving Financial Aid from the GSB. If you extend an offer to a student who has not qualified for financial aid, (s)he is less likely to receive ESP funds. (S)he may still accept the job based on your compensation only.
    • International Students are eligible for funding.
    • The deadline for paired student & company applications is noon, May 23, 2012.

    What then?

  • Once your company and the student are approved for ESP, (s)he must submit a copy of the countersigned offer letter to the CES. This must clearly state the compensation the company will pay as well as the length of the internship.
  • You negotiate directly with the student to set a start date.
  • You pay the student directly for your portion of the compensation.
    • Stanford will issue 2 payments to the student for our portion of the compensation.
    • If you modify your compensation to the student, we must be notified as it will likely affect the stipend amount.

Questions?

Contact Lisa Sweeney at sweeney_lisa@gsb.stanford.edu or 650-723-0887.