NC IDEA’s Startup Analyst Fellowship program consists of a year-long/two-semester fellowship (Spring and Fall 2021 semesters). This program is targeted at first year MBA students, but students into their second year of an MBA and in other related programs are welcome to apply. Startup Analyst Fellows will specifically be involved in the process of evaluating and selecting grant recipients for the NC IDEA SEED ($50K) grant program. Since its inception in 2006, NC IDEA SEED has awarded over $6.8 million to 154 companies across the state.
This program is ideal for students interested in 1) having an investment career with an angel/venture capital firm or 2) entrepreneurs and entrepreneurially minded students looking to enhance their knowledge of the startup landscape in North Carolina and/or gain a better understanding of how young ventures are evaluated by investors.
About NC IDEA
NC IDEA is an independent private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina. Today, the organization fulfills this mission through multiple grant and assistance programs. More information on NC IDEA and its programs be found at www.ncidea.org.
Startup Analyst Fellow Role and Responsibilities
Throughout the course of the year-long engagement, Startup Analyst Fellows (4-6 will be selected) can expect to be part of a team reviewing over 300 SEED grant applications (business plans) from growth-oriented startups across North Carolina in business categories such as software, IP-based technologies, medical device/diagnostics and consumer products. These applications are evaluated through an “investor’s lens,” as the principal goal of NC IDEA SEED is to position companies for further growth and/or funding. Startup Analyst Fellows can expect to assist in the review and evaluation of all SEED grant applications, make recommendations to the team based on due diligence findings and actively participate in meetings with the NC IDEA staff and its review team of Angel/VC Investors, subject matter experts and partners from across the state. As the pool of applicants narrows, the Analyst may also take on a modest coaching and advising role with the management teams of competitive applicants.
*Startup Analyst Fellows for NC IDEA SEED will also move to “first-in-line” for NC IDEA’s full-time, paid summer internship. Students serving in this capacity have opportunities to fully engage with winning NC IDEA companies over the course of the summer.
During the Spring and Fall semesters, Startup Analyst Fellows will work with NC IDEA on a part-time basis (approximately 10 hours per week) supporting the SEED grant cycle application process. Fellows will be provided with a stipend of $1,000 per semester, upon successful completion of the following responsibilities. In lieu of a stipend, Fellows may receive class credit for this work and are responsible for making those arrangements with their instructor(s).
Responsibilities for each semester include:
● Help in the facilitation of the SEED grant cycles by working closely with the Program Director and NC IDEA principals.
● Evaluate SEED grant applications (business plans) and provide feedback to the applicants.
● Attend and actively participate in review meetings (3-4 each grant cycle), including final pitch day.
● Conduct due diligence during semi-finalist and final rounds of the SEED grant cycle, including assisting in the final selection of SEED grant recipients.
● Process improvement initiatives as deemed necessary.
● Depending on the number of SEED applications, Startup Analyst Fellows may also evaluate NC IDEA MICRO grant applications and provide feedback to the applicants.
In addition, Startup Analyst Fellows are considered valuable members of the NC IDEA team for the duration of the year-long engagement and are encouraged to participate in the weekly staff meetings and/or various grant update meetings to receive the advice and mentorship of the staff. For full consideration, please apply by Friday, November 13th. Additional questions can be directed to firstname.lastname@example.org.