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We have clarified the description and requirements for participation in the LANG Summer Fellowship Program 2020, added an FAQ below, and included more options for where to go to ask more questions.
(Updated as of May 12, 2020)
We have good news! We have secured additional funding for this year's LANG Summer Fellowship Program. Therefore, we may be able to relax some of the rules for eligibility and guidelines as listed below. However, for the moment, we do not know what we can relax and to what extent.
About the LANG Summer Fellowship Program
Working for an early stage company or a small VC firm this summer? Apply to the LANG Summer Fellowship Program and you may qualify for a salary supplement.
The LANG Summer Fellowship Program enables rising second-year CBS students to gain experience working as Student Fellows in an early-stage company or VC environment over the summer while obtaining a salary supplement from the Lang Center.
Student Fellows will contribute expertise to their host organizations. Employers are expected to construct a worthwhile summer experience for the Fellow.
Applications are currently open and will be accepted on a rolling basis through the end of May 2020 OR later if funds are still available. Submitting an application, even if it meets all requirements, does not guarantee acceptance to this program. All decisions are final.
Note that meeting the guidelines outlined below does not guarantee acceptance to the Program.
What qualifies as a host company?
- Host startup companies:
- Are operational and bootstrapped/funded/financed
- Have more than one, but fewer than 200 employees
- Generate under $25M in revenue
- Consulting, research, brokerage, or investment funds/companies do not qualify
- Host VC firms:
- Have < $50mm in assets under management
- Have between two and five full-time investors
- Fellowship must be full-time, defined as a minimum of 35 hours per week
- Preferably one stipend is given per company, per summer.
What are the host company’s responsibilities?
- Company to pay a minimum of $400 per week (currently subject to discussion)
- Student Fellow responsibilities must be clearly defined by employer up front
- One host company senior executive must mentor and work with Student Fellow on a regular basis
- Operational function or exposure to operational functions preferred
- At the end of the Fellowship, the host company will provide feedback about the Program and the Student Fellow’s impact on the organization
What are the Student Fellow requirements?
As interest is expected to exceed availability, we look for students who meet the following criteria. However, all applications will be considered on a case-by-case basis.
- Must be a Columbia Business School student who will have completed at least one term of MBA courses by summer and will return to CBS after the internship. Students on leave of absence from CBS during the summer internship are NOT eligible
- Applicants must have a full-time (8 to 12 week) summer position offer with eligible organization before applying for Fellowship
- Preference will be given to students who have demonstrated interest in careers in VC or entrepreneurial environments through course selection, participation in clubs, fall and spring term internships, etc.
- Students may NOT apply for the Tamer Center for Social Enterprise Grant concurrently with the Lang Center Summer Fellowship
- Students may NOT receive course credit for their summer internship AND receive the supplement/stipend from the Lang Center at the same time.
- Part-time work during the summer is not eligible for funding (subject to discussion). Students Fellows are expected to work minimum 35 hours per week.
- Mini-Fellowships: January-term and EMBA students enrolled in courses during summer semester are eligible to receive funding for mini-fellowships lasting 2 weeks or more, assuming funds are still available.
Mini-fellowships might involve performing market segmentation, conducting independent budget or financial plan analysis, researching an investment thesis, etc. Students participating in mini-fellowships are subject to identical guidelines, responsibilities, and expectations as other Student Fellows, and should use the application below.
What funds are available?
The Center may match the student's salary up until a ceiling of a total salary of $1,000 per week during the summer period. For example*:
- If student earns $400 per week, Center may match this minimum required amount of $400 per week, resulting in a total compensation of $800 per week
- If student earns $500 per week, Center may contribute up to $500 per week, resulting in a total compensation of $1,000 per week
- If student earns $600 per week, Center may contribute up to $400 per week, resulting in a total compensation of $1,000 per week
- If student earns $700 per week, Center may contribute up to $300 per week, resulting in a total compensation of $1,000 per week
- If student earns $800 per week, Center may contribute up to $200 per week to reach the ceiling amount and total compensation of $1,000 per week
*Please note, the above numbers are shared to guide the creation of your negotiated salary amount as it relates to what the Lang Center may supplement. Actual numbers of what the Center may supplement will vary depending on your negotiated salary, which must be capped at $1000 in total compensation from the employer and the Lang Center.
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Where do students and host companies apply?
Applicants can expect a response within 3 weeks of submitting a complete application. (See FAQ regarding reply timing and other aspects of the program.)
- Startup Internship Applications:
- Venture Capital Internship Applications:
Frequently Asked Questions?
- What should students do if their offer and/or host company does not meet the program’s original requirements as listed below?
Include an explanation within your application. This information can include numbers, company impact, and other relevant company status information.
Although we are considering all applications on a case-by-case basis, your explanation will play a critical role in our understanding of your and your host company’s specific situation.
- When will students hear back about the details of their participation in the LANG Summer Fellowship Program?
For us to assess the full scope of student requests and most fairly allocate our budget to applicants, we will be waiting until the last week of May to review the bulk of applications, and still recommend that you apply sooner than later since funds are finite.
At this point, it may take longer than the 2-3 weeks we had originally anticipated for you to hear back from us. Our goal is to help as many as we can with the funds we have, so we thank you for your patience!
- Where can students and host companies ask more questions?
For answers to additional questions, please contact us at firstname.lastname@example.org or stop by our virtual office hours:
Questions? Contact email@example.com.