OTTCP Summer Internship in Entrepreneurship

The Caltech Seed Fund (CSF) not only supports and funds startups commercializing Caltech technology but also integrates entrepreneurship education though the OTTCP Summer Internship in Entrepreneurship. This ten-week paid internship program provides both undergraduate and graduate students firsthand experience working in entrepreneurship. Students are placed at startups that either are funded by the CSF, are current collaborators with OTTCP, or are locally based.

The first cohort of seven embarked upon their summer internships remotely in 2021. While the first year of the internship had to be conducted entirely online due to COVID restrictions, the second and third years were hybrid, conducted online; at Caltech's startup incubator, the Caltech Innovation Center (CIC); or at the startups' offices, providing schedule flexibility for both full-time and part-time interns. The second cohort was a group of eight students; and in 2023, the cohort expanded to 12.

During interns' time with their assigned startup, they work on a project that contributes to the company. Past projects have included market analysis reports, user interface design, technical capabilities analyses, investment pitch deck creation, and investment memo creation, among many other possibilities. In some cases, the valuable work that interns contribute to their assigned startups even leads to career opportunities. Brian Nguyen, a member of the second intern cohort in 2022, had started his internship by running competitor research and analysis for CSF-funded startup StrokeDx. However, during his internship, StrokeDx realized there was a technical stumbling block with their stroke-detection device – it ran only on older Windows devices. Realizing that he had the skills needed to solve this issue, Brian pivoted his project and got to work creating an app that would allow users to be able to receive data directly from the device. Thrilled with his innovation and drive, StrokeDx's co-founders offered Brian a full-time position, and after his graduation, Brian began working at StrokeDx as its Chief Technical Officer.

Between working with their startups on their individual projects, interns take part in OTTCP programming led by the office's Entrepreneurs-in-Residence (EIRs). This year's programming included speakers such as BOLD Capital Partners' Neal Bhadkamkar, who presented a two-part talk on venture mechanics that he had previously run at Harvard Business School. Aside from meeting and hearing directly from VCs, the interns also engaged with talks from startup legal counsel, Caltech entrepreneurs, and OTTCP staff, all helping to provide them with a holistic view of entrepreneurship and the many processes it encompasses. Stephanie O'Gara, a member of 2023's intern cohort, loved the insight that the presentations provided. "Being able to hear directly from VCs and get their insights was perfect for me," she said, since she had previously considered venture capital to be "a mysterious black box of money."

OTTCP looks forward to the growth and expansion of the internship program and hopes to see more students and companies joining the Caltech entrepreneurial ecosystem as a result. As Julie Schoenfeld, EIR for Physical Sciences, advocates, "Caltech is one of the best research institutes in the country—it should be surrounded by startups."