Interview with Mass Media

This interview with UMass Boston's student newspaper follows the post Standing Room Only about our new program to hook up students with ventures:

Mr. Brah, my name is Greg Bluestein and I report for UMB's Mass Media. I was wondering if I could ask you a few questions on the upcoming program that you are working with concerning getting UMB students getting first picks on highly competitive internships.

Greg: What exactly is this program?

Bill: It’s a paid internship program that connects UMass Boston students with venture capital firms and their portfolio companies in the Boston metropolitan area. It was conceived by Dan Phillips, our Entrepreneur in Residence.

Greg: How can students become part of it?

Bill: They can attend the next session in two months where students can hear what it is like to work in a start-up, and to sign-up for a chance at an internship. We'll be sure to post the information in a variety of places in an effort to reach out to as many students as possible.

Greg: About how many students per year will be able to benefit from this program?

Bill: Its a pilot program so we'll know after this year. There are lots of opportunities and lots of students interested. Two students have already been selected by a start-up company. We are going to run a one-hour session every two months where students can hear what it is like to work in a start-up, and to sign-up for a chance at an internship. Over 80 students attended the first session on October 1st, and 30 submitted resumes.

Greg: How were you able to put this program together?

Bill: The Venture Development Center likes to say that it brings the innovation economy to the campus. We are beginning with our students. Phil Quaglieri, Dean of the College of Management, introduced us to Dan Phillips.

Dan has spent the last 25 years as an executive with four venture capital backed software companies. Two of these companies executed IPO’s and two were acquired by fortune 200 companies. The most prominent was as COO of Concord Communications which attained an $800,000,000 market cap and the most recent was as CEO of SilverBack Technologies which was acquired by Dell Inc.

After a few meetings, Phil and I decided to support Dan and offer venture internship opportunity to all students at UMass Boston.

Greg: How long will this program be running?

Bill: Its a one year pilot program. Dan is already trying to raise funds to scale it up for next year. A program like this must be staffed in order to be successful. Ideally, the students would receive academic credit too, so the challenge is to integrate the internships into the academic programs at UMass Boston.

Ideally, over the next three years, we’d like the venture backed firms to come to our students! With the opening of the VDC in early 2009, we will be able to house the venture backed firms and internships right here on campus, in Wheatley where our 18,000 sf center is in the final stages of being constructed.

Greg: Why was it created?

Bill: We want to establish UMass Boston as a key producer of talent needed by the innovation economy. UMass Boston students have all of the qualities venture backed start-up companies look for. They are smart, hungry, loyal, and work hard for everything they achieve. Yet they are overlooked. Venture firms normally go hunting for talent at places like Harvard, MIT, Columbia, Chicago, Stanford and Berkeley, where students literally line up for the opportunity. But Dan's connections to the area's venture capital firms allow UMass Boston students to be first in line for chances at internships at the portfolio companies they invest in in the Boston metropolitan area.

Greg: Has UMB ever created any program like this before? Where did the idea come from?

Bill: This is a first for UMass Boston, thanks to Dan Phillips. He has a great appreciation for the quality and culture of the UMass Boston student body as he has self funded his own Scholarship/Mentor program for UMass Boston students over the last 15 years. What a gratifying sight, students in a cue to give Dan their cards following his presentation on October 1st!

Greg: If there is anything else you think I should know that I have not asked about, please feel free to tell me.

Bill: Venture capital is a highly competitive industry and an internship can give students the experience needed to secure a good job in the future. Furthermore, an internship will allow them to meet people in the industry who they can later network with. Finding quality start up internship opportunities is extraordinarily difficult. Now UMass Boston students have the opportunity to hook up with a venture and live happily ever after!