Future entrepreneurs have the chance to experience firsthand what it’s really like, thanks to a University of Richmond program that gives students the ability to work directly with local startups.
The Richmond Guarantee, which launched in 2015, is a promise by the university to fund one summer research or internship experience for undergraduate UR students in a career field that best complements each student’s academic pursuits.
Recently, the university has seen an in increase in student interest in entrepreneurship, said Brendan Halligan, associate director of experiential learning, exploration, and assessment in Alumni and Career Services.
“Finding their purpose in the world is becoming more important to the generations coming into college, and I think they’re seeing entrepreneurship and innovation as a way to really do that,” he said.
The University of Richmond helps students achieve this goal through The Richmond Guarantee, a program Halligan oversees.
“I think it’s important that the university helps students make those connections and get that experience of what owning your own business looks like,” Halligan said.
This past summer, two University of Richmond students worked as interns for Richmond-based startup Joggle, a sales management platform founded in 2018.
Steve Dash, Joggle co-founder and chief executive officer, said offering students these experiences is important.
“Not only does it give students the opportunity to contribute, but it allows them to expand their network by building valuable professional relationships,” he said.
UR students have interned at a variety of Richmond-based startups, including SEQL, Roundtrip, Kinis and Pangea Chat.
Halligan said the students choose, apply for and secure the internship they’re interested in, but the university assists them in a variety of ways.
“Through career services we help connect them and help prepare them to do that networking they need to do,” he said. “Our faculty are connected in the community, so while the students are securing the opportunities on their own, they’re doing that with a lot of support from the university and the community.”
Halligan said the program serves more than 550 students every year. He estimated the annual funding awarded for this is more than $2 million, which is provided through gifts from alumni and friends of University of Richmond.
Because student internships are often unpaid or underpaid, Halligan said participants are eligible for up to $4,000 in funding. He said the goal is to give students the experience they need to be competitive in the job market while still earning money.
“(The Richmond Guarantee) allows them to pursue the things that are going to benefit their career development in the long term," he said.