2012 FellowsSpring, 2012

› Develop Skills. Training. Hit the Ground Running.

› Looks good on Resume. Keep options open.

› Work with other smart people. › Ideally, some real responsibility.

› Money, maybe even upside of some kind.

›Something good? Maybe save for later.

WHAT DO YOU WANT IN A FIRST JOB?

© Copyright 2011 | Venture For America | All Rights Reserved

THE PROBLEM

Distribution of Talento The majority of our talent is flowing to

finance/consulting/law and not enough talented young people are engaged in job-creating enterprises in our communities.

+ start-ups and everything else

Our identification and distribution of talent has become a critical weakness instead of an historic strength.

THE HARVARD CLASS OF 2011

Approx. 1,630 seniors 17%

12%

20+%

4%

Finance/Banking

Management Consulting

Law School (25% apply)

Teach for America 293 seniors applied (18% of class), 66 became Corps Members

That’s 49% of the class (at least)

Harvard College Senior Survey Data 2010 (http://www.ocs.fas.harvard.edu/students/jobs/seniorsurvey.htm)

The Crimson, Senior Survey 2010 by Clifford M. Marks, Tuesday May 25, 2010 (http://www.thecrimson.com/article/2010/5/25/percent-year-seniors-class/)

Law School Admissions Council Data 2010 (http://members.lsac.org/Public/MainPage.aspx?ReturnUrl=%2fPrivate%2fMainPage2.aspx)

Teach for America: Top Colleges and Universities Contributing to Teach for America’s 2010 Teaching Corps Report (http://www.teachforamerica.org/newsroom/documents/20100714_Teach.For.America.Announces.the.Schools.Contributing.Most.Graduates.to.2010.Corps.htm)

Association of American Colleges: Undergraduate Institutions Supplying Applicants to U.S. Medical Schools (https://www.aamc.org/download/161090/data/table2-1-mblack-2010-web.pdf)

Grad School, Non-profits, Industry, Gov’t, IT, Military

15+% Med School (18% apply)

10%

22%

Undecided

SAME PICTURE AT OTHER TOP SCHOOLS

Over 50% of graduates take either the LSAT or the GMAT (2004 – 2010)

Law School Admissions Council Data 2010 (http://members.lsac.org/Public/MainPage.aspx?ReturnUrl=%2fPrivate%2fMainPage2.aspx)

Graduate Management Admission Council Data 2004-2008

UPenn, Career Plans Survey Results – Class of 2010 (http://www.vpul.upenn.edu/careerservices/undergrad/reports/Class2010CareerPlans.pdf)

Duke Senior Survey Results for Undergraduates (http://www.princeton.edu/career/employers/about-princeton/survey-data/

Cornell Preliminary Class of 2010 Postgraduate Report (http://www.career.cornell.edu/downloads/PostGradSurveys/PreliminaryClassOf2010.pdf)

Teach for America, Goldman Sachs, Morgan Stanley, Bank of America/Merrill Lynch, Accenture, Google, and Deutsche Bank Top Employers 2010

Deloitte, Deutsche Bank, Ernst & Young, Goldman Sachs, Google, JP Morgan Chase, Morgan Stanley, NIH, and Teach for America Top Employers 2010

34% took jobs in Finance or Consulting of those who accepted a job at graduation; Bank of America, Barclays Capital, Citigroup, Google, JP Morgan, Morgan Stanley, and Teach for America Top Employers 2010

WHERE THE GRADS ARE GOING:

2010 Top Job Locations for Undergraduates

Duke Senior Survey Results for Undergraduates (http://www.princeton.edu/career/employers/about-princeton/survey-data/)

The Crimson, Senior Survey 2010 by Clifford M. Marks, Tuesday May 25, 2010 (http://www.thecrimson.com/article/2010/5/25/percent-year-seniors-class/)

RI

New York, NYBoston, MA

Washington, D.C.

San Francisco, CA

December 2010 States with >10% Unemployment Rates

WHY/HOW DO SMART KIDS CHOOSE A PATH?

› Prestige. Looks good on Resume. Marks you as Smart.

› Opens Doors. Keeps options open. Sky’s the limit.

› Community. Make sure you don’t ‘fall behind’ peers. Work with other smart people.

› Clearly Marked Path. Easy to Find or Apply To.

› Something good / pro-social. e.g. Teach for America

› Progress. Seeking ‘the next level.’ Gain stature.

› Gain Skills. Training for the next thing.

› Money. Compensation, amenities, lifestyle.

WHY NOT START-UPS? › Not recruited (contrast with banks, consulting, big companies, Teach for America, etc.)

› No community / peer group

› No network / idea / money / tech proficiency

› Hard to find suitable start-up / no structured path (contrast with law school)

› Unclear prospects for training, advancement or success

However, many Kids would LOVE to join a start-up! They all talk about it. Many go into finance/consulting to “learn about business”, so they can start something.

Venture for America will recruit 50 of the best and brightest college grads to work for two years at emerging start-ups and early stage companies in lower-cost cities (e.g., Detroit, Providence).

Fellows paid $32-38k/year by the host company.

Venture for America will provide a path for entrepreneurship to college grads who want to learn how to build companies and create jobs.

Venture Fellow Summer Institute held at Brown University in June 2012 with seasoned investors

and entrepreneurs.

At the conclusion of the fellowship, Fellows will attend a capstone where $100k in seed

investment will be awarded to the highest performing Fellow.

VENTURE FOR AMERICA (2011 - )

Year

1

2

3

4

5

…

2yr program at a start-up as a

Fellow

Venture For America

Biz Competition

Continue full-time at start-up

Start-up Pro!

Apply to Fellowship

VENTURE FOR AMERICA

Board of Directors

Peter EzerskyQuadrangle

Group

LeRoy KimAllen &

Company

Darren MacDonald

IAC

Robin ChanZynga

Investor Board

David LeeSV Angel

Josh LinknerDetroit Venture Partners

+ others…

Chip HazardFlybridge

Entrepreneur Board

David GilboaWarby Parker

Dan PorterOMGPOP

Liz HamburgUpstart Ventures

+ many other accomplished entrepreneurs and investors (

www.ventureforamerica.org/team)

David TischTechstars

+ others…

MEASUREMENTS OF SUCCESS

The primary metric for VFA will be the number of jobs

generated by Venture Fellows past and present, in 3

categories:

1.A Venture Fellow founds or co-founds a company that

creates jobs;2.A Venture Fellow plays a significant leadership role at a company that creates jobs;

or3.A Venture Fellow is

employed and contributes at a company that creates jobs.

 

The stated goal of Venture for America is to contribute to the

creation of 100,000 U.S. jobs by 2025.

The secondary metric is the proportion of Venture for

America Fellows who remain engaged in start-ups or early

stage enterprise.

© Copyright 2011 | Venture For America | All Rights Reserved

RECRUITMENT LISTING SERVICE

© Copyright 2011 | Venture For America | All Rights Reserved

• We expect to have 1,000+ applicants for 50 spots in Year 1.

• The Top 100 (10%) will be designated as Finalists and will receive assistance in placing them in appropriate start-ups. Virtually all applicants will opt in for access to additional opportunities.

• Start-ups / early stage companies in every market will have the ability to access resume database.  Means-adjusted fee only for successful hire.

• Potential to drive hundreds of applicants to start-ups beyond Fellows.

Start-up Life is good for Smart People:

The Job Changes Get Real Responsibility Rewarded for Success High Engagement/Ownership Peaks and Valleys Team-Oriented Purpose-Driven, Belief in the Mission

WHAT DO YOU WANT IN A FIRST JOB?

ACT. BUILD. CREATE. Mobilizing Graduates as

Entrepreneurs

Contact: To Apply (ventureforamerica.org/apply)

Visit: http://ventureforamerica.org/

FOR MORE INFORMATION:

Click on icons to open webpage

© Copyright 2011 | Venture For America | All Rights Reserved