State program boosts business internships for UW-Whitewater

November 17, 2009

Business students seeking internships with new Wisconsin companies will get a boost from a state program announced Tuesday at the University of Wisconsin-Whitewater.

The $90,000 Entrepreneurial Assistance Program will provide grants to support paid internships for students from UW-Whitewater and other state colleges and universities.

Lois Smith, interim dean of the College of Business and Economics, welcomed the program. She noted that UW-Whitewater offers a new degree in entrepreneurship and has an active chapter of the Collegiate Entrepreneurs' Organization.

"We know how important entrepreneurship is to the economy of Wisconsin," Smith said. "We will not disappoint."

Probably beginning next semester, the program will place three to five UW-Whitewater interns a semester with newly created Wisconsin businesses.

"It allows our students to work directly with entrepreneurial companies, small businesses, and gives them the real-world, hands-on experience," said John Chenoweth, associate professor of information technology and business education.

The program was announced by state Rep. Kim Hixson, D-Whitewater, and Rep. Peter Barca, D-Kenosha, in Hyland Hall, the new home of the College of Business and Economics.

"This program represents a much-needed connection between our colleges and universities and building our state's economy," Hixson said.

By fostering partnerships between state universities and newly founded companies, the internship grant program will bolster the economy by helping the businesses be competitive and profitable, Hixson said.

Businesses founded in the past three years are eligible for the funding through the Wisconsin Department of Commerce. Each company will be responsible for repaying one-third of its grant. Universities will be eligible for funding to cover administrative costs.

Student interns, under the guidance of a professor, will assist the new companies in such areas as developing a business plan, research, marketing, engineering and company development.

UW-Whitewater junior Jordan Leahy, who is building his second company, said he hopes the program includes mentorship programs.

"I think it's progress," he said. "The public is starting to really value how innovative students are and how important their voice is, especially with global economic change."

Chenoweth said the program will be publicized to businesses and students through the business outreach centers in the College of Business and Economics.