Summer Fellowship Program

About the Lang Summer Fellowship Program

Working for an early-stage company, a small VC firm, or a search fund this summer? Apply to the Lang Summer Fellowship Program and you may qualify for a salary supplement.

Our Summer Fellowship Program enables rising second-year CBS students to gain experience working as Student Fellows at an early-stage company, small VC (under $50MM in AUM), or search fund 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.

Important Dates

The Summer 2024 application period will run from Mar 8 until May 10, or while funds remain.

Please do not apply until you have obtained an offer from a qualifying startup, VC firm, or search fund. Submitting an application, even if it meets all requirements, does not guarantee acceptance to this program. All decisions are final.

Apply

• Summer Fellowship Application: Startups
• Summer Fellowship Application: VC
• Summer Fellowship Application: Search Funds

Program Guidelines

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 funded/financed
  • Have at least five, but fewer than 200, employees
  • Generate under $10M 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
• Search Funds:
  • Is a legally registered entity with proof of registration
  • Has successfully acquired a company that employs at least 10 employees in the U.S
• Fellowship must be full-time, defined as a minimum of 35 hours per week, for 8 to 12 weeks
• One stipend is given per company, per summer (subject to discussion) 

What are the host company’s responsibilities?

• Company to pay a minimum of $400 per week (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 may be asked to provide feedback about the Program and the Student Fellow’s impact on the organization 
• Company is required to provide pay stubs as proof of payment

 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, at least 35 hours per 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. The only exception is for students enrolled in the cross-cultural seminar for immigration purposes.
• Part-time internships during the summer are not eligible for funding. Students Fellows are expected to work minimum 35 hours per week.
• Accepted Fellows must complete the full term of their internship to qualify for funds
• As part of the Fellowship, accepted students may be asked to participate in a panel to talk about their experiences or another entrepreneurship/VC-related event
• Accepted Fellows must submit official company paystubs upon completion of the internships to receive the approved salary supplement.
   
• Mini-Fellowships: January-term and EMBA students enrolled in courses during the summer term are eligible to receive funding for mini-fellowships lasting 2 weeks or more, if 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 to 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
• Maximum payout from school to be $4,000 total (taxable) for the summer for each selected student
• Unpaid internships at startups are not eligible. If pursuing an unpaid internship, please use this financial benefit information to help negotiate a salary / stipend. You may also use the financial benefit information to negotiate a higher salary.

*Please note, the above numbers are shared to guide 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 budget remaining and your negotiated salary, which must be capped at $1000/wk in total compensation from the employer and the Lang Center.

Questions? Contact [email protected].