Innovation Internship Program: For Employers

Need an extra hand this summer? Want to get awesome talent at less than half the going rate? Join Rev1’s inaugural innovation internship program. Rev1’s innovation internship program will bring students and startups together to create exciting opportunities for both.

Program Overview 

  • Salary reimbursement for two-thirds of intern wages up to $8K.
  • Ongoing Rev1 support to manage the hiring and onboarding process.
  • Access and direct connections to diverse, quality, student talent.
  • High potential for entry-level retention.
  • May 11 – August 7 Summer cohort launches (unless you coordinate a separate schedule).
Internships

5 Easy Steps

Step 1:

Submit your role description by April 15 for the summer cohort here.

Step 2:

Rev1 will direct qualified interns to you through our internship job board.

Step 3:

Interview and pick the best candidate. Tips on hiring interns on our toolkit.

Step 4:

Let us know your choice by April 29. Simply email Alison Lopriore.

Step 5:

Submit Invoice/Evaluation Form to Rev1.

Interns

Deadlines

  • Submit your role description by April 15 for the summer cohort.
  • Student applications are due by April 24 for the summer cohort.
  • Hiring decisions are due to Alison Lopriore by April 29.

Key Dates

May 12 | Internship Orientation

The program kicks off for interns on Tuesday, May 12. Location TBD, orientation may be virtual if necessary.

May, June, July Trainings | TBD

Your interns will be coached on how to work within a startup and the unique opportunities they can access.

August 7 | Last Day

Celebrate the summer of our inaugural intern program on August 7.

FAQ

Q: How do I “sign up” for the program and access the reimbursement for my intern’s wages?

A: Step One: Complete Program Agreement and email to Alison@Rev1Ventures.com.

Step Two: Complete Company Contract Worksheet and Student Profile(s) and email to Alison@Rev1Ventures.com.

Step Three: On a monthly basis, complete and submit Invoice/Evaluation Form to AccountsPayable@rev1ventures.com along with the intern’s timesheets and record of payment for salary reimbursement.

Q: How much should I pay my intern?

A: Use the matrix below to determine wages. We strongly discourage negotiations above or below these rates.

DEGREEYEAR2020 RATE
Associate1st Year$15.50
2nd Year$17.00
 
Bachelor’sFreshman$17.50
Sophomore$19.00
Junior$20.50
Senior$22.00
 
Master’s1st Year$26.00
2nd Year$28.00

 

Q: How many hours can my intern work?

A: We suggest a range of no less than 15 hours and no more than 40 hours per week. Work with your hires to determine a schedule that works well for both your business and the student.

Q: How many interns can I hire?

A: No more than five interns per company per cohort are eligible for reimbursement through this program.

Q: Who can apply for an internship?

A: The program is open to a wide student base, including those registered at or recent graduates from a technical or community college; incoming freshmen up to graduating seniors at four-year institutions; and masters or doctoral candidates in high-tech graduate studies.

Q: What roles can I have interns fill?

A: That is up to the needs of your company. If you would like help determining the best needs of your organization contact Alison Lopriore or check out our job description templates here:

Q: Where do I submit job descriptions?

A: Submit job descriptions to Alison Lopriore by April 15. To see examples of open internships, check it out the intern jobs board.

Q: When does the Fall cohort begin?

A: The Fall Internship cohort will take place from September 14 to December 10. More information to come.

Q: Additional Questions?

A: Ask Alison Lopriore by emailing alison@rev1ventures.com.

Special Thanks to Our University Partners: