CI continues funding for internships
After a successful summer session, Connecticut Innovations will be continuing funding for student internships under its Technology Talent Bridge program.
CI is a quasi-public organization that provides financial assistance to companies to stimulate the state”™s economy and job creation. The internship program started in April as a way to connect Connecticut college students with local companies. The goal is to increase the likelihood that graduating students find quality work in the state, preventing the state”™s infamous young talent drain. Only students enrolled in a Connecticut four-year institution qualify for the program”™s internships.
This summer the program provided 10 companies with grants of up to $25,000 to hire interns. Undergraduates were paid up to $15 an hour and graduate students were paid up to $25 an hour, unless companies decided to use their own funds to pay more.
As of press deadline, none of the 16 students in the program have officially received job offers but the outlook is promising.
“All the companies have been extremely pleased with their interns and are hoping to hire them once they graduate from school,” said Christine Gemelli, CI program manager. “Three of the companies that have summer interns are finishing up right now and the rest of the companies have the students going into the fall and spring semesters.”
Some might question the likelihood that a company would hire a new employee when it doesn”™t have the funds to hire an intern, but Gemelli disagrees. The program mitigates the risk in an expensive new hire and reduces the training costs.
Additionally, the program allows the company to test more potential employees at a lower cost, said Fred Jackson, president of Strain Measurement Devices Inc. in Wallingford. Using the program, Jackson”™s company hired an additional intern this summer it wouldn”™t have otherwise had funds to hire.
The sensor manufacturing company assigned its interns to develop a new sensor that could be used to expand the company”™s portfolio. A Yale University student not only met the challenge, but designed a sensor that worked even better than the company”™s existing sensor for its primary market.
“We”™re thrilled with his performance,” Jackson said. “He did great work and he”™s going to continue (working) throughout the school year.”
Strain Measurement Devices is able to hire roughly 40 percent of their interns, simply because the interns are able to pay for themselves in a short period of time by bringing in new business as a part of their jobs. Jackson said the interns he hired through the program worked very well with the company and would likely be hired in the future.
“Once someone works here for three months, you can see how they struggle and get things done,” Jackson said. “You learn quickly who you want to hire and if you hire more people you can see more people who you want to hire.”