Budding student-entrepreneurs awaken: Highland Capital Partners says it’s accepting applications for its second annual paid summer entrepreneurship program for undergraduates and graduate students, and for more than 20 summer internship positions at Highland-backed companies in Massachusetts.
Highland launched its “Summer@Highland” program last year. Under the program, which is similar in some ways to Paul Graham’s Y Combinator effort, Highland selects teams of up to four students apiece to spend 10 weeks at its Lexington, MA, or Menlo Park, CA offices, where they develop their business ideas with advice from Highland’s investment professionals. Highland provides a stipend of $7,500 for single-person teams or $15,000 for multi-person teams. In return, the firm asks teams for the option to co-invest in up to 50 percent of any venture financing round the team raises within six months after the program.
The summer program is “a further continuation of Highland’s long commitment in partnering with fast-growth companies at all stages of their development,” said Highland general partner Peter Bell in the company’s call for applications yesterday. Teams can apply online until April 22.
Meanwhile, Highland senior vice president Michael Gaiss tells Xconomy that the company has just opened more than 20 summer internship positions at local companies backed by Highland, including Going, Gotuit, Streambase, and Turbine (the company behind The Lord of the Rings Online). The internships “help connect our companies earlier with exceptional college students interested in gaining experience at venture-backed companies and start-ups,” Gaiss says. The open positions are listed at Highland’s Career Network portal at http://www.hcp.com/career-network/index.php (select “internship” in the status field).
