The nonprofit Center for Entrepreneurship is expanding its summer entrepreneurship program for college students. According to The Mill, next year’s Startup Summer cohort will increase from his eight weeks to his ten weeks, and will be open to students statewide. Andy Lehman, head of accelerator programming, said his cohort of pilots this summer was a success.
The program, a paid internship that allows students to focus on their own startups, Lehman told Inside INdiana Business, was key to student progress this summer.
“I think that was one of the biggest things we heard, ‘What would you be doing if you weren’t doing this with us this summer?’ Universally, “Well, we’ll probably still be working on startups, but we won’t be doing it intensively or full-time. I’ll have to work part-time to make up.” One of the great things about this being a paid internship is that they don’t have to. They can focus here. ”
Only Indiana University students participated in the pilot program and received a $2,000 scholarship to cover expenses over the summer. I also obtained a Summer Her membership in The Mill, which offered a variety of programs to help students grow their businesses.
According to Lehman, the pilot started with a trip to Indianapolis for the Elevate Nexus conference.
“One of the things we learned was that they were learning in school what the entrepreneurial ecosystem was like, but it was hard to understand it until you were actually in that ecosystem. is difficult,” he said. “When we provided the lunch and learning program, the opportunity to speak to other ecosystem support personnel, to receive mentorship, and to mentor others, they really did that. I was immersed.”
Among the pilot’s success stories was Finniva, a startup co-founded by CEO Andrew McMaster and CTO Brandon Wening. The company has developed a software platform designed to streamline the materials procurement process for large multifamily and commercial development projects.
Finniva won The Mill’s 2022 Crossroads Collegiate Pitch Competition and received a $2,500 investment from the Flywheel Fund. The startup also received $20,000 in funding from Elevate Nexus’ regional pitch contest in July, before seeding her.
Lehman says the goal has always been to make next summer’s program available to students statewide.
“We are part of the Indiana Coworking Passport, so we have these kinds of spaces across the state and resources for everyone,” he said. “We hope to give these students the opportunity to see and experience what it is like to work, live and build a company in Indiana.”
The 2023 program runs from May 17th to July 26th at The Mill. The scholarship has been increased from his $2,000 to a maximum of $4,500, which Lehman said will allow all participants, including those from out of town, to cover their housing costs.
“Ideally, we would like to have an equal number of Bloomington students and out-of-area students. Like you can. Around town.”
Attendees will also receive an extended four-month membership to The Mill for continued access to resources.
“It’s clear that very talented young people want to stay in the state,” Lehman said. If you choose to do that, that’s great. It’s good for all of us.”
Applications for the next Summer Startup cohort are open until November 4th.