IU ENTREPRENEURIAL STUDENTS SEEKING INTERNSHIPS FOR THE SUMMER

BLOOMINGTON, Ind. -- In the opinion of many small business owners, their work is never done. Many Indiana entrepreneurs are reporting that it is difficult finding time for investigating new products or markets, developing new strategies for existing products or reviewing production systems and procedures -- all while managing an ongoing business.

"Not only is time scarce in most lead entrepreneurs' schedules, but it seems everyone in every company is busy these days. Unless the owner hires an outside consultant, often, these 'extras' are never accomplished," said Daniel W. DeHayes, director of the Center for Entrepreneurship and Innovation in Indiana University's Kelley School of Business.

Entrepreneurial students at the Kelley School are anxiously seeking opportunities to gain hands-on experience next summer with projects like these, to use their fresh business perspective, valuable research skills, and access to university resources to help someone accomplish their business goals.

CEI is working to match IU MBA and undergraduate students with appropriate summer internship projects in emerging- to medium-size entrepreneurial businesses. The program is sponsored this year by CID Equity Partners, a private equity capital firm in Indianapolis.

"Interns from previous years responsibly and effectively managed a variety of projects for businesses," said DeHayes, who is also professor of business administration at IU. Last year, one student completed a business plan for a new product launch, another helped reorganize a company's accounting procedures, and a third researched a new market for a new product.

"Entrepreneurial students bring their experience and education to complete these sorts of projects, and 'think outside the box' for companies," DeHayes continued. "Ideal internship projects have specific, definable parameters, and can be completed over the course of the four summer months. Pay is negotiated between the student and the company."

The typical MBA intern is 28 years old with several years of professional experience, and many are members of the Entrepreneurship Academy, an intensive program for students pursuing an entrepreneurial career. MBA interns are qualified to conduct projects such as market research, competitive analysis, business plan development, new product introduction, and operations analysis, DeHayes said.

Undergraduate interns are placed during the summer between their junior and senior years, and are typically students in the Entrepreneurship Workshop, a hands-on experience in developing and managing a small business. Undergraduate students pre-selected for internship placement participate in projects ranging from market research through business and marketing plan development, and operations or information systems analysis.

"Students have great enthusiasm for internships, and are eager to create good opportunities early," DeHayes continued. "Many of them begin interviewing with companies in January and often have their internship confirmed by the end of February."

Companies seeking more information about the Entrepreneurial Internship Program should contact Katie Schumann, internship coordinator, by phone at 812-855-4248, by fax at 812-855-2751, or by e-mail at kschuman@indiana.edu

(George Vlahakis, Office of Communications and Marketing, 812-855-0846 or 812-855-3911, gvlahaki@indiana.eduor Luci Englert, Center for Entrepreneurship and Innovation, 812-855-4248)

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