Welcome to Kellogg's Venture Lab -- Information for Students
Course Description
Venture Lab is an experiential learning course that allows Kellogg students the opportunity to be placed in a quarter-long internship. Venture Lab opportunities include:
- Venture funds
- Incubators
- Portfolio companies
Work at venture funds can vary widely from tasks such as market research, due diligence, assisting with fundraising documents and sourcing deal flow. Work at incubators typically involves assisting with incubated startups or helping to develop a startup idea for incubation. Work at portfolio companies typically involves a specific project or projects for a venture fund’s portfolio company. Enrollment in the course is by application only.
- Course Requirements
- Internship. Students who are selected commit to dedicate two full working days a week to working onsite at the venture firm's office for local firms and an equivalent amount of time offsite for remote firms. Students are expected to dedicate 15-20 hours per week overall to venture fund work.
- Meetings with Professor. Participants will meet with Professor Hochberg for four Wednesday lunch meetings to update on their assigned task, progress, and feedback. In addition, the Venture Lab may combine with the Buyout Lab to sponsor a number of evening talks and panels on topics of relevance to the Venture Capital and Private Equity markets during the course of the quarter. Attendance at these talks is mandatory.
- Grading. Venture firm will evaluate the student's performance and deliverables. Grade will be determined by Professor Hochberg in conjunction with the venture firm.
- Faculty Advisor: Professor Yael V. Hochberg
- Venture Capital Firms: Some participating firms are both local and remote (e.g., located outside the Chicago area). Students working at local firms will work at the firm's offices. Students working at firm's outside of Chicago will work remotely. Often firms based outside of Chicago will arrange for their student to be flown out to meet the fund managers and present their final product. Sponsors participating in the upcoming quarter can be found via the electronic application. As a guide to future sponsors, you can examine the list of past sponsors and participants.
- Target students: The experiential learning opportunity will be most beneficial to students who do not have extensive VC experience, but would like a career in the field. A first year opportunity provides a chance to use this experience for an internship, which could lead to a job when they finish. However, first year students must have sufficient training to be of value to the firm.
Pre-requisites: We strongly recommend that students have completed the core requirements prior to applying to the program. We further recommend taking the following classes before, concurrently, after the lab: Research Methods In Marketing (MKTG450), Case Studies in Venture Investment and Management (FINC471), Management of Technology (MGMT463), Technology Marketing (MKTG468), Managerial Accounting (ACCT431), Financial Decisions (FINC442), Spreadsheet Modeling (OPNS450) and Competitive Strategy (MECN441).
Matching Process
Students may apply to any subset of the available host firms. Please apply only to firms you are interested in working for. Firms are sent all applications from students who indicated an interest in the firm, and all applications for which no firm preferences were listed in the body of the student’s email. Based on the application statements and resumes, firms choose finalist students. Some firms may choose to interview students either in person or by telephone. Based on the interviews, firms make their final selections. Your application statement should address the firms you are applying to (generically, not firm-by-firm), and not the professor.
The list of participating funds is continuously updated. Please check back before submitting your application to ensure you have accessed the most recent list of host funds. If additional funds are added after the deadline, you will be informed and given an opportunity to apply to them as well. You may also choose to apply to any available funds. However, please do not apply to funds that have requirements for their applicants (e.g., that list an ideal applicant "must have significant experience in medical or health industries", etc.) unless you have the relevant experience.
If you are matched to a firm, you may not turn down the offer. APPLY ONLY TO FIRMS WHOSE OFFER YOU ARE WILLING TO ACCEPT. If accepted you will automatically be enrolled in the course.
NOTE: This course may not be dropped during the course of the quarter.
Application Instructions and Materials
The application period for Spring Quarter 2012-13 begins Feb. 1, 2013. The last day to apply to the Lab is Feb. 15, 2013. The online application can be found here. Once an application is submitted it cannot be modified. All applications for this course will only be accepted via this online application.
If you encounter any technical issues while using this application, please email kis-appdev-support@kellogg.northwestern.edu for assistance.
A list of participating sponsor firms for Winter 2013 and prior quarters can be found here. A list of participating sponsor firms for Spring 2013 will be included with the electronic application. This list will be continuously updated, and we urge students to check the list for updates. If you submit early, and a firm is added to the list that you are interested in applying to, you will need to submit a new application.
Applicants will be notified of acceptance or rejection approximately one week prior to the start of the quarter. We generally advise students to register for classes assuming they will not be accepted to Venture Lab, yet be prepared to drop a course or two if they are accepted. Please keep in mind that most students find that they get the most out of the program by making their class schedule flexible and by spending as much time as possible on site with their fund. This allows students to become immersed in the organization and to participate in investment meetings, entrepreneur pitches, site visits and other fund activities students would otherwise not be exposed to. If you wish to participate in the lab with a local firm, be sure to concentrate all other classes either in the evenings or into a two day schedule.
The time commitment to Venture Lab is substantial. Plan your course load appropriately. You may not drop this course once the matching process is complete.
PLEASE NOTE: STUDENTS CANNOT APPLY TO BOTH THE VCLAB AND BUYOUT LAB DURING THE SAME QUARTER |
