Would Your Company Benefit from an ASU Entrepreneurial Intern?

Arizona State University has been rolling out its new university-wide initiative, Entrepreneurship at ASU. Spurred by a recent $5 million grant from the Kauffman Foundation, this effort is expanding and establishing entrepreneurial programs throughout ASU’s campuses and academic units. Along with the development of new entrepreneurship curriculum, certificate programs and grant funding opportunities for entrepreneurial students, this initiative also focuses on the entrepreneurial experience for ASU interns alongside real-life entrepreneurs.

Companies that host ASU entrepreneurial students for internships or other experiential projects will benefit from the connection to the cutting-edge knowledge being generated by Arizona State University’s four campuses. Though interns can often be the bridge between a need for talent, and long-term recruitment goals, entrepreneurial students bring added service, given their interest in venture and non-profit creation. Students from majors such as business, nursing, art, law, and engineering, to name only a few, offer a range of knowledge, interest, and skill sets that could be just the right fit for your venture.

The "Sun Devil Entrepreneurship Network" will place interns and mentees with entrepreneurs and will make it possible for students to know which entrepreneurs are offering internships, project positions, or serving as mentors. Students from all majors are eligible to apply for participation in the network, including undergraduate and graduate students. Upon selection by an entrepreneur or small business, students will be given an experiential assignment, with timing and compensation issues to be addressed between the entrepreneur and selected student.

Creating an internship program can also help address human capital needs within your organization: recruitment, retention, and career development. An internship is like "a three-month interview," says Tom Stanfield, director of people development at Mill Steel. According to an October 2006 issue of the Engineering News Record, an Alberta, Canada firm, PCL, began analyzing retention of new hires by comparing those who had interned for one or two years with those hired through career fairs or on-campus interviews. "We were shocked," says Denny Dahl, director of human resources for PCL. "The retention rate for previous interns who were hired was 68%." Employees hired through other methods stood at a 30% retention rate.

With the Entrepreneurship at ASU initiative underway, we’re committed to expanding student experiences in the world of entrepreneurship. In entrepreneurship as in most subjects, experiential learning is the critical element that adds real-world experience to classroom theory. We'd like to work with you, your venture or organization, to help develop an entrepreneurial-based internship or mentoring program for our entrepreneurial students. To fast-track your internship needs by joining the Sun Devil Entrepreneurship Network, call Rhett Wilson at (480) 727-6745 or email Rhett.Wilson@asu.edu.