keeps it real for budding entrepreneurs
book can top actual experience, especially when it comes to
Entrepreneurship Internship Program (KEIP) does just that
by providing students an opportunity to spend a summer working
at a small business in the Chicago area.
Weatherly '97, CEO of Your Choice Living (left), and KEIP
intern Ryan Clark '07 Photo
© Loren Santow
a testing ground for their desire to be an entrepreneur,"
says Scott Whitaker '97, associate director of the
and Carol Levy Institute for Entrepreneurial Practice.
students gain experiential learning insights over eight weeks
in the summer. They meet as a group with the program facilitator
to discuss their experiences and prepare a midterm report.
More than 100 students have interned since the program's inception
in 1996, Whitaker says.
entrepreneurs seek Kellogg expertise through the program,
including Your Choice Living (YCL), which hosted an intern
in 2006. The company creates software for major managed care
organizations, hospital systems and senior living companies.
CEO Jonathan Weatherly '97 says it was the optimal
time for the business to work with an intern because he was
planning a third financing round.
Ryan Clark's primary role was to enhance the company's
financial model and draft an updated business plan to reflect
changes since the company's launch. He says KEIP gave him
an edge in entrepreneurship unavailable anywhere else. "You
understand the requirements of people running the business
and how they think about reacting to changes," says Clark,
who assists the organization with a new operating plan a few
hours a week as he completes his Kellogg MBA.
Gauthier '05 also interned through KEIP at start-up incubator
and private equity fund Sandbox in 2004. Working with two
other Kellogg interns, he performed preliminary investment
analysis on several potential portfolio companies.
Gauthier: "In addition to introducing me to some practical
aspects of due diligence, KEIP introduced me to many of the
'blocking and tackling' aspects of entrepreneurship that you
sometimes miss in MBA classes: handling payroll, establishing
the corporate infrastructure and vetting and managing employees."
says the Levy Institute is continually seeking companies that
are interested in hosting an intern. To do so, contact firstname.lastname@example.org. — Adrienne Murrill