University System of Maryland Venture Fellowship

The USM Venture Fellowship is open to all current, full-time enrolled undergraduate (sophomore and above) or graduate students at any of the 12 University System of Maryland institutions.

All USM member institutions can be found here.

The program is open to full-time students enrolled in any degree program (or undeclared) at any USM member institution.

Although some background in finance and business is recommended, there are no prerequisite courses for students to participate in the program. Students from all degrees, backgrounds, and experience levels are encouraged to apply.

Students must be enrolled as full-time students at the time of application.

Most internship positions offered by the partner funds are paid positions. Firms pay interns according to their own guidelines for internship compensation; MMF does not negotiate pay rates for interns through the Fellowship. The training and cohort portions of the program are unpaid.

Students are expected to dedicate 4-5 hours per week in the Spring to allow time to complete the VC University course, attend weekly workshops, and weekly 1:1 meetings with the Momentum Fund Managing Director. Summer internships may be part-time or full-time depending on the offer that is extended by the venture fund / angel group making the offer of employment.

The USM Venture Fellowship does not provide students with course credit. Students may be able to apply with their home institution to receive course credit for the Fellowship; however, these arrangements are made between the student and their affiliated institution.

Applicants must be a currently enrolled student at one of the 12 USM member institutions.

The VC University coursework, weekly cohort meetings, workshops, guest lectures, and weekly 1:1 meetings with the MMF Managing Director are all held over Zoom. There is no in-person requirement for ordinary cohort activities. There will be several opportunities for in-person meetups and networking events throughout the spring and summer, however, these are not required. Your internship will most likely have an in-person component. Most of our partner funds are running hybrid internships with an in-office requirement, although some funds require five days per week in-office. Students negotiate in-office requirements independently during the hiring process - USM and the Momentum Fund will not negotiate on a student’s behalf. All hiring decisions and requirements are made by the employer.

Students apply and are accepted into the applicant pool on a rolling basis from early October through the end of November. Students may be contacted for interviews by venture funds during this time. Students may also be interviewed in the first two weeks of December. The cohort is finalized in December and offers of internships by the venture funds / angel groups and offers to join the program are made by December 15th. Any student who has not received an interview or an offer from a fund by December 15th will be notified on December 16th.

There is no guarantee of an internship in applying for the program. After applying for and being selected for the applicant pool, students’ resumes are entered into an applicant pool that is viewed by the venture funds and angel groups participating in the program. These employers identify students they wish to interview and the Momentum Fund / Franklin Advisory support with getting interviews scheduled. Students who interview and receive offers are then invited to join the Venture Fellows Program in the Spring.

All program participants commit to completing the VC University course and attending the weekly sessions with the cohort and the MMF Managing Director. Students are hired by partner funds under the assumption they will complete the spring coursework before beginning their internship. Students who do not participate or complete the spring coursework will be at risk of having their internship offer rescinded by the partner fund.

Students who successfully complete the VC University online course receive a certificate of completion from VC University. This certificate does not automatically constitute academic credit at any USM member institution. Learn more about VC University here.

Students interview during the fall for summer internships. The exact dates of the internship are determined by the venture fund by which the student is hired.

Internships are offered, negotiated, and fulfilled by the venture fund or angel network with the student. MMF and Franklin Advisory do not participate in negotiations for employment, and the decision to offer a student an internship is the venture fund or angel network’s alone. There is no guarantee that an offer will not be rescinded prior to starting or during the course of the internship.

Although funds begin reviewing student applications in mid-October, there is no set timeline for receiving an offer or getting an interview with a prospective fund. Resumes are collected and reviewed by the partner funds on a rolling basis. Funds are encouraged to interview and extend offers by December 15, 2023. However, because funds review resumes on a rolling basis, students are encouraged to apply early for the program.