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Position Description

What to expect in your summer as an EDGE Fellow Intern

EDGE Fellow Summer Intern Position

Selected student interns participate in orientation classes at the end of May followed by a comprehensive two month internship. Throughout the summer, seasoned practitioners provide introductions to feasibility analysis, due diligence, financial analysis, start-up entrepreneurship, and guidance for the project.  Students meet regularly with their Host Company, industry experts, their peers and EDGE staff and provide weekly progress reports. At the end of July students make a final presentation and provide a complete report to the host company, and EDGE selects projects to feature at the August public presentation before serial entrepreneurs, business leaders, community and university leaders, and potential investors.

This will be the 11th summer of a highly successful and effective program. EDGE Fellows are hired as independent consultants to work in teams of two with business mentors to explore new markets and new business ideas with and for established NE Ohio companies. As independent consultants, EDGE Fellows commit to a 40 hour work week and have some flexibility in managing their work time and place of work. In general, EDGE Fellows spend 2-3 days a week to meet with their host company, team member and mentors or other EDGE Fellows, and they can work from home or elsewhere the rest of the week. Weekly deliverables are expected.

Essential Functions:

Conducting primary and secondary market research and/or data analysis on new business opportunities, which includes:

  • Determining market need through analysis of industry trends, market opportunities and competitor analysis;
  • Determining break-even points, projected revenues and profit potential for new investment;
  • Providing cost/benefit analyses of different approaches to new business opportunities;
  • Researching government policies and tax regulations that might affect the new business;
  • Presenting ongoing findings to peers and mentors, culminating in a final paper, recommendations and presentation at the end of the internship;
  • Working closely with other EDGE Fellows throughout the summer – seeking and providing peer feedback.

Requirements:

  • Prefer full-time, graduate-level student (from any academic discipline); will give consideration to undergraduate candidates that are rising seniors (as of 6/2017) or student candidates with non-traditional backgrounds who demonstrate promise with entrepreneurial ventures. Recommendations are required.
  • Need to be available for a minimum of 40 hours per week from the end of May – end of July and able to attend orientation classes at the end of May. Interns need to be available to meet with people during the week and should not have any regularly scheduled commitments between 9:00 AM – 5:00 PM Mondays – Fridays.
  • Interns should schedule any regular outside commitments in the evenings or on weekends.
  • Ability to perform diligent primary and secondary market research.
  • Ability to analyze data and create financial cost/benefit projections.
  • Ability to work with and command respect with different professionals (executives, industry professionals, etc.).
  • Prior business or entrepreneurial experience preferred, but not required.
  • High interest in new business development, data analytics and Northeast Ohio.
  • Access to reliable transportation throughout the summer is required as there will be travel around Northeast Ohio.

Special Skills and Abilities:

  • Self-motivated to work with new concepts and find answers – sometimes in creative manners.
  • Able to work independently and collaboratively a must.
  • Excellent interpersonal and communication skills (i.e. phone and writing skills and carrying self professionally).
  • Proficiency in conducting market analysis using primary data, customer surveys and industry journals.
  • Advanced decision making and problem solving abilities.
  • Excellent facilitation and presentation skills.

Schedule:

  • There will be orientation gatherings and sessions in May.
  • The duration of the paid internship lasts from the beginning of June through the end of July.
  • While there are weekly benchmarks to reach for individual projects, intern teams will be responsible for setting much of their own schedules. Teams meet weekly with an EDGE staff liaison and business mentor, connect with industry leaders and their project host company, provide weekly progress goals and reports, and attend periodic sessions at participating schools, businesses and EDGE’s office.

Compensation:

  • Interns are hired as independent consultants and are paid $3,000 per month (or $6,000 over two months) with the expectation of 40 hours per week for the duration in June and July.
  • This includes attending orientation sessions in May, scheduled meetings in June and July, and the final public presentations in August. Interns are paid at the end of each month and will track expenses for tax purposes.

Location:

  • There is no physical location for this position.  Teams will be encouraged to work from EDGE or their host companies more frequently at the beginning of the project as they more clearly define the scope and deliverables for their projects. There will be arranged meetings at participating schools, at host companies, with team members and peers, and typically all teams meet on Friday afternoons to share successes and address challenges.

EDGE offices located at:

Cleveland Clinic Business Operations Center
6801 Brecksville Rd., Ste. 160
Independence, OH 44131