The University System of Maryland (USM) Venture Fellowship offers training, upskilling, and internship opportunities for students seeking careers in venture capital (VC).
The USM Venture Fellowship provides students who are currently enrolled at a USM member institution with the opportunity to gain real-world experience in the venture capital industry. Leveraging the Maryland Momentum Fund’s (MMF) network of VCs, advisors, and entrepreneurs, the Fellowship is designed to help students learn the fundamentals of early-stage finance, build professional networks, work on venture deals, and develop connections and a toolkit for a career in startup financing.
October 10 – November 30: Applications accepted
December: Cohort is finalized
February – May: Coursework and weekly cohort meetings (virtual)
June – August: Internships (in-person requirements)
Students submit applications for the program through the Momentum Fund website.
Students are selected to interview with the Managing Director of the Maryland Momentum Fund.
Successful applicants are entered into a candidate pool.
Partner funds and angel groups review the applicant pool and reach out to students for interviews.
Funds extend offers to their selected candidate(s) for a Summer 2024 internship.
Students who receive offers from partner funds join the Venture Fellows Program and participate in Spring 2024 programming for upskilling, mentorship, and certification through VC University.
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The USM Venture Fellowship prepares students for careers in venture capital by providing them with tools, training, and practical experience.
Benefits of the Program
Additional virtual and in-person events and networking opportunities will be made available throughout the spring and summer.
Who is eligible to participate in the USM Venture Fellows program?
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.
Is my institution part of the University System of Maryland?
All USM member institutions can be found here.
Is the program open to students from any degree program?
The program is open to full-time students enrolled in any degree program (or undeclared) at any USM member institution.
Are there any prerequisite courses?
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.
Is the program open to part-time students?
Students must be enrolled as full-time students at the time of application.
Is the program paid?
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.
What is the time commitment for the program in the Spring and Summer?
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.
Will I receive course credit?
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.
Is the fellowship open to graduates?
Applicants must be a currently enrolled student at one of the 12 USM member institutions.
Is the program all online?
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.
How will I know that I have been selected for the program?
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.
Do I automatically get an internship as part of the program?
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.
After I get matched for an internship, do I have to do the upskilling and VC University curriculum?
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.
What certification will I receive from the program?
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.
What are the dates of the internship?
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.
By participating in the program, is my internship guaranteed?
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.
What is the timeline for receiving internship offers?
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.