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About the Rock Summer Fellows

The Rock Summer Fellowship program, funded by gifts from Arthur Rock and the John F. Lebor Family, enables students to continue to explore their entrepreneurial path, both as founders and as those interested in joining early-stage startups, during the summer between their RC (first-year) and EC (second-year).

Through a 10-12 week summer fellowship that provides up to $6,000 in financial support as well as a peer network and community, RC students are able to work on their own venture idea or work at an early-stage startup.

For the slides from the information session on February 12, please click here.

Who Can Apply

RC students currently enrolled in the two-year MBA program. This program is available to both students founding start-ups and students working at an early-stage start-up.

Working At A Startup

For those RC students interested in working at an early stage startup during the summer between their RC and EC year.

Selection Preferences
  • 10-12 week internship
  • Operational and funded/financed companies (consulting, research, brokerage, investment funds/companies, well-established SMBs are generally not favored), with:
  • > Less than 50 employees;
    > Less than $5 million in revenues (general guideline);

  • Generally, a maximum of two fellows per company per summer;
  • Student responsibilities should be clearly defined by the startup;
  • A senior executive internal mentor should be assigned by the startup to work with the student on a regular basis;
  • Operational function or exposure to operational functions preferred;
  • Internship work should not be based solely on research/analysis, and should be articulated carefully and thoroughly in both the application/student memo and the startup letter.
  • Students working for or starting a non-profit/social enterprise are generally encouraged to apply for a Social Enterprise Summer Fellowship. You may not apply to both programs.
Funding
  • Fellowships are up to $6,000
  • If joining a startup, this could potentially bring total summer comp to $12,000, assuming employer startup contribution of $6,000. If employer startup contribution is less than $6,000, student may still be awarded a $6,000 felllowship, if it is determined that employer startup is strongly committed to a high-quality internship experience.
  • Preference will be given to applicants whose employers match funding
  • There is a maximum of 2 fellows funded per startup (i.e. a maximum total of $12,000 to any startup).
  • Please note the Rock Center does not have information on the financial need of students (financial need-or lack thereof).
  • If accepted into the program, please be advised that RSF checks will be distributed upon submission of each report (details below on monthly reports).
Application Requirements
  • Poll Submission
  • Application Cover Sheet
  • More detail about your proposed project this summer to include: (not to exceed 5 pages)
  • > Description of the proposed project with clear deliverables
    > Detailed assessment of how you believe the experience will contribute to your educational experience in the MBA program and your own career development. What do you hope to learn?
    > Description of the startup and its history, including revenue for the most recent twelve months and number of employees.

  • A letter from the startup indicating:
  • > Description of your role/project for the summer
    > The dates of your employment
    > Compensation contribution from startup
    > Information about who will supervise your work.
    > The letter should be signed by the CEO or another person in senior management. Contact phone number and email address should be included so that the Rock Center can contact this person, if necessary.

Working On Your Own Startup

For those RC students wanting to work on their own startup during the summer between their RC and EC year.

Selection Preferences
  • Will dedicate 100% of time to startup over the summer
  • Favor operational startups vs. consulting, research, brokerage, or investment funds/companies
  • Thoughtful and detailed plan for the summer (roadmap for development, experimentation, accomplishing other key milestones)
  • Have not yet raised significant capital
  • Not participating in another accelerator program that provides funding
  • FIELD 3 teams are invited to apply
  • Note that students working for or starting a non-profit/social enterprise are generally encouraged to apply for a Social Enterprise Summer Fellowship. You may not apply to both programs.
Funding
  • Fellowships are up to $6,000
  • There is a maximum of 2 fellows funded per startup (i.e. a maximum total of $12,000 to any startup). If 3 fellows apply, total allocation will be divided by three ($4,000/ea)
  • Please note the Rock Center does not have information on the financial need of students (financial need-or lack thereof).
  • If accepted into the program, please be advised that RSF checks will be distributed upon submission of each report (details below on monthly reports).
Application Requirements
  • Poll Submission
  • Application Cover Sheet
  • More detail about your proposed project this summer to include: (not to exceed 5 pages)
  • >Please tell us about each founder, their role, and each founder's relevant experience
    >What customer segment(s) will you address and what is the size of your addressable market?
    >What critical customer needs will you address?
    >What discovery on customer needs have you done and specifically, what have you learned? Please list data, metrics, hypotheses or any other evidence you've collected in your discovery process.
    >What is your value proposition?
    >Please describe your business model.
    >Please describe current status of startup and any milestones achieved (e.g., prototype status, customers, revenue)
    >Funding requirements and funding status of the startup
    >3 month roadmap outlining specific milestones & objectives you hope to accomplish over the summer
    >Current partnerships or relationships in place that will you help you achieve the summer milestones & objectives stated above.
    >After you return for your EC year, what is the roadmap for the next 6 months?
    >What do you hope to learn by becoming a Rock Summer Fellow? What will you bring to the Rock Summer Fellows community?

Application Deadline

Please bring (1) hardcopy of your application cover sheet and application questions to Rock 107 and give to Catherine Cronin.

Two application rounds for 2015:
  • Round 1: 5:00 PM on March 3, 2015 (decisions by March 13)
  • Round 2: 5:00 PM on April 16, 2015 (decisions by May 4)
  • Students who do not receive a fellowship in the first round may update their application & reapply for second round.
  • All applicants accepted in the first round will need to fill out a short survey (providing update on their status) by noon on April 14 in order to maintain their RSF status. The survey will be sent to all first round admitted applicants shortly after March 13.
Also note that the committee has no information on the financial need of students (financial need-or lack thereof). Contact Catherine Cronin with any questions.

Rock Summer Fellow's Commitment

Before students apply, we want students to understand the commitments asked of Rock Summer Fellows. We are eager to have Rock Summer Fellows who have a desire to participate and share in the peer exchange network and community. In addition, in order to crystallize learnings and receive Rock leadership support, all Rock Summer Fellows will need to submit monthly reports and commit to a fall wrap-up session.

Reports

All Rock Summer Fellows will submit:
  • 3 monthly reports, 2 pages per report
  • > end of June
    > end of July
    > end of August

  • In each of these reports, we ask you to update on the following:
  • > Accomplishments
    > Challenges encountered
    > Goals for the coming month
    > Any requests for help from the Rock leadership?
    > In the final report, in addition to the questions above, we also ask you share lessons learned and how your experience will impact your coming EC year and full-time pursuits upon graduation.

    Please note that RSF checks will be distributed upon submission of each report.

    Continued Engagement

    Upon acceptance into the Rock Summer Fellows program, we invite you to join a community that we hope will remain active and engaged going forward. Our plan is for this community to become a valuable point of connection now and in the future. Prior Rock Summer Fellows currently residing in various markets will be available for you to contact over the summer if you would like to reach out and hear about their experience. These Market Mentors will help support your summer experience and we will also ask you to do the same for others in the future. For this to happen, you can expect an annual outreach from our team to find out where you are and what you are doing professionally.

    Fall Wrap Up Session

    Finally, we have a Rock Summer Fellows wrap-up session where we will ask RSFs to share their learnings and experiences with others. More details to come later in the summer.