IU Kelley School, Indiana Commission for Higher Education helping small firms that want to go global
Programs offer funding for internships at small- and medium-sized companies
FOR IMMEDIATE RELEASE
BLOOMINGTON, Ind. -- Working closely with the Indiana Commission for Higher Education and its EARN Indiana program, an Indiana University Kelley School of Business center is offering Hoosier companies with fewer than 500 employees more help with going global through a summer internship program.
The IU Center for International Business Education and Research, known as CIBER, is offering funding to Indiana-based small- and medium-sized enterprises for up to 50 percent of wage costs for summer interns who then pursue international aspirations.
CIBER’s eight- to 12-week summer internship program matches 12 qualified full-time, in-state students at IU and other Indiana colleges and universities with small companies who may be looking to enter new markets or expand export efforts. Participating students also must be Indiana residents.
When combined with funding through the Indiana Commission for Higher Education’s Employment Aid Readiness Network program, known as EARN Indiana, participating companies may receive 100 percent reimbursement for wages paid to their interns.
Janet Boston, executive director of Indiana INTERNnet, praised the IU Kelley School’s efforts to support and raise greater awareness about EARN Indiana’s activities to match talented Indiana college students with emergent firms that value their perspective.
Boston said the partnership with the IU Kelley School will help provide a level and competitive playing field for smaller Indiana firms that long to gain access to competitive international market opportunities, including those provided through the new Trans-Pacific Partnership.
The Indiana Commercial Service office of the U.S. Department of Commerce also is supporting the program.
Indiana INTERNnet -- a free internship-matching program linking employers, students, high schools, colleges and universities -- will accept applications from prospective employers and interns interested in applying to the CIBER and EARN Indiana programs.
EARN Indiana is open to any Indiana resident who also is full-time student at any Indiana college or university and who has an expected family contribution of $7,500 or less on the Free Application for Federal Student Aid form.
Once students are approved for EARN Indiana by Indiana INTERNnet, they are then encouraged to contact the IU Center for International Business Education and Research at firstname.lastname@example.org for details about its funding for summer internships.
To successfully apply for combined CIBER and EARN Indiana program reimbursement, companies must offer an internship with an experiential international business work component. (No more than 25 percent of interns’ work can be administrative or clerical.)
Qualified employers may receive up to 50 percent of interns’ wages from the IU Center for International Business Education and Research. They also may apply to EARN Indiana for the other 50 percent of wage costs.
Employer applicants also must complete a profile on the Indiana INTERNnet site and be approved. Both companies and students must become EARN Indiana eligible before there will be any decision regarding their applications.
Not only will students have an opportunity to receive valuable internship experience, but the program provides firms with the means of recruiting talented full-time employees after graduation, said Roberto Garcia, clinical professor of international business at Kelley.
“Of course, sponsoring firms will also benefit directly by hiring student interns who bring a fresh perspective to the industry and business and who are willing to work hard to prove themselves,” Garcia said.
Priority deadline for 12 internships supported partially through IU CIBER funds, which are available on a first-come, first-served basis, is April 1. Depending on interest from companies and students, IU CIBER could have additional funding for more internships.
The Centers for International Business Education program was created under the Omnibus Trade and Competitiveness Act of 1988 to increase and promote the nation’s capacity for international understanding and economic enterprise. Administered by the U.S. Department of Education under Title VI, the CIBER program links the human capital and information needs of U.S. business with international education, language training and research capacities of universities across the United States.
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