Successful CUNY IAR Co-Created NYC Startup & VC Internship Programs Conclude

Inaugural, Competitive Initiatives Boast 70% of Students from CUNY Programs Supports Base of Ready Talent for NY Companies

The inaugural NYC Venture Capital Internship Program (VCIP), co-created by the City University of New York Industrial & Applied Research Division (CUNY IAR), and a startup internship program led by NYC venture capital firm Company Ventures and the Zahn Innovation Center at City College of NY, concluded in August with engaging presentations from select interns describing their summers of learning and opportunity. The two initiatives sought to increase engagement of New York City college students – particularly those from underserved communities – in venture capital and tech startups, further strengthening the base of ready talent for NYC companies.

VCIP was created in partnership with tech community networking platform Supermomos, early-stage venture fund Everywhere Ventures, Kauffman Fellows, Carta, and Marrison Foerster, and the startup internship program was created in partnership with Blackstone Launchpad, Tech:NYC, and BASTA.

The programs were a success by many measures: More than 110 NYC-based students secured placements at over 80 startups and venture capital firms across NYC. One in four of the VC interns received return offers and extensions, with more opportunities continuing to roll in, with 97 percent of all intern placements comprising CUNY students. Additionally, 76 percent of participating startups were in the AI and/or green economy sectors.

According to a 2024 report on CUNY and the economy from NYC Comptroller Brad Lander that examined earnings and employment among CUNY graduates, CUNY alumni overwhelmingly remain in New York State – as many as 90 percent do – and they contribute billions in local and state income tax revenue. The report cites a study from think tank Third Way that ranks CUNY schools among the best in the nation for both enrolling a high proportion of students from low- and moderate-income backgrounds and providing a strong return on their educational investment. High engagement and positives outcomes from these new internship program further extend that success.

The internship programs launched in June at CUNY @ Amazon in midtown Manhattan with a one-week intensive bootcamp. Both VCIP and the startup internship initiative included a ten-week paid summer internship at a leading NYC VC firm, a $7K stipend for the duration of program, access to top VCs and a network of smart, ambitious peers, and mentorship from experienced investors and startup ecosystem leaders.

“Programs like this are a tremendous vehicle for workforce and economic development,” added John Blaho, director of CUNY IAR. “Many students participating in the internship programs were offered the opportunity to continue their work into the start of the school year, with even more offers continuing to roll in. It’s a thrill to see our students grab these opportunities and leverage the internships for their future.”

To encourage student applications in advance of these summer programs, CUNY IAR conducted extensive outreach among CUNY campuses including New York City College of Technology (City Tech), the College of Staten Island, Brooklyn College, Lehman College, and others. Among other programs, the students learned about the National Science Foundation (NSF) NY I-Corp, a program of the New York Hub, which is led by CUNY’s IAR. The Hub runs various entrepreneurial training programs, events, and courses through our lead university, partners universities and affiliate universities. IAR focuses on fostering innovation and entrepreneurship across all CUNY campuses and throughout the New York area.

For more press on VCIP, visit Forbes and NYC EDC.