A new University System of Maryland fellowship prepares students for careers in venture capital

The USM Venture Fellowship offers students currently enrolled at a USM institution the chance to intern with a venture capital firm, get VC certification and grow their networks.

When Mike Ravenscroft assumed the role of managing director at the Maryland Momentum Fund (MMF), he quickly recognized a significant gap in the program: a lack of student programming. So he embarked on a mission of ”customer discovery.”

Ravenscroft took stock of the needs and opportunities within the University System of Maryland (USM) network and the broader region.

“Students expressed a strong desire for exposure to the VC industry, a thirst for knowledge and a keen interest in gaining practical experience with venture capital. Faculty members echoed these sentiments from their students,” he told Technical.ly. “Additionally, when I engaged with venture funds in the region, a consistent challenge they pointed to was the shortage of talent. However, I don’t view it as a lack of talent; in fact, I believe we have an abundance of talent. The challenge lies in the industry’s size and exclusivity, making it difficult for aspiring individuals to enter and gain valuable experience.”

That’s how the inaugural University System of Maryland Venture Fellowship came to be. With applications opening on Oct. 10, the fellowship aims to offer students registered at a USM member institution a chance to acquire experience in the field of VC. There is no course credit available for the program but student applications are open through the MMF site from Oct. 10 to Nov. 30.

Read the full story from Technical.ly Baltimore.