RIPPAC Internship Guide - Summer 2021

Name of Company / Association / Organization New Jersey Economic Development Authority: Department of Ecnomic Growth Products

Internship Coordinator

Coordinator’s Phone / Email  

Location of Main Office Trenton, NJ but internship is at the Commercialization Center for Innovative Technologies (CCIT) in North Brunswick/Remote

# of Summer 2020 Interns Accepted

Where will the internship be done?

In the main office      

Remotely (student works from home)      X  

Combination of Remote & In-Office

Dates / Length of Summer Internship  Full time starting on June 1st and with very limited time off through August 10^th

Required Hours/Week

Is there some type of salary or stipend?   

If so, how much?

What is the application process?  (please include deadlines and other requirements.  Attach additional pages if needed) 

Apply here.

 For more information click here.

Intern work areas:           Clerical                Research             Errands                Organizing   

Please explain the work that will be required of the intern: 

Job Summary

Collaborate with a team of highly motivated financial professionals, who are passionate about advancing New Jersey’s innovation economy to support build-out and activation of the recently approved New Jersey Innovation Evergreen Fund (NJIEF) legislation.   

Innovation can occur anywhere, but it may have the greatest chance of success when born and fostered with the collaboration of interested partners. The successful candidate will assist in design, development and stakeholder engagement to support the build-out of the newly legislated $500 Million early-stage investment program. The NJIEF program will bring together the pieces to engage New Jersey’s large corporate citizens, early-stage businesses and qualified venture capital investors to support a virtuous cycle of innovation in the State. Successful candidates with a focus on investment or policy will interact directly with these stakeholders to gather intelligence and build relationships to support a sustainable economic development investment program.

The applicant will have a first-hand insight of policy creation, business development, government operations and venture capital fund investment analysis. This internship is designed to prepare students for a fast-paced business environment. The experience also includes interaction with a peer mentor, workshops, and networking events.

Essential Duties and Responsibilities

• Support the Director, Venture Programs to develop and implement the business process associated with NJIEF program build-out
• Liaise across departments within EDA and external government stakeholders to maintain forward progress on mechanics associated with accounting, compliance, information technology, legal, marketing, policy, tax
• Participate in the development of program regulations from the approved legislation with an acute attention to detail leading to practical long-term implementation
• Develop methods and tools to evaluate corporate tax auction bidding process, investment manager qualification and investment eligibility, execution and monitoring
• Coordinate planning, development and pursue outreach to establish and maintain relationships with potential corporate partners, investors and early-stage businesses
• Learn and utilize the EDA’s Customer Relationship Management (CRM) database per departmental standards including populating key application data in various CRM records
• Reports progress in weekly team meetings
• Participates in business development meetings and or industry events as assigned/applicable
• Promotes teamwork and communication to encourage an interactive, cooperative, collaborative, and customer focused work environment among division, EDA staff, and external customers.
• Performs other duties as may be assigned

Required Skills and Abilities

• Advanced skills in research
• Ability to work with various excel spreadsheets and software applications
• Initiative and creativity
• Interest in policy and legal framework development / investment analysis and execution
• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff
• Ability to prioritize workload, be highly organized, detail-oriented, handle various tasks simultaneously, and work independently within limited time constraints with little or no supervision
• Must be able to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff
• Demonstrate respectful behavior and promote teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers
• Proficient in Microsoft Office Suite and the ability to learn new software packages

Required Qualifications

• Must reside in New Jersey for the summer
• Preference for a graduate student who attends a New Jersey domiciled College/University
• Must be available to work full time starting on June 1st and with very limited time off through August 10^th
• Student in a graduate degree program in accounting, business administration, finance, economics, economic development, and/or related field; Minimum GPA 3.0 with some course work in capital formation/venture capital
• Strong analytical and research skills
• Ability to think and work independently
• Capable of handling a large workload
• Excellent written and oral communication skills
• Proficiency in Word and Excel for Windows
• Must be detail oriented and a team player

Work Location: Commercialization Center for Innovative Technologies (CCIT) in North Brunswick/Remote

Will there be opportunities for the intern to observe:

Internal strategy sessions?            Legislative sessions?                   Committee hearings? 

Is the intern expected to work evenings and weekends?  If so, please explain. 

Do you have any suggestions for the applicants? (Please use additional pages if necessary)