CoMotion has partnered with Seattle-area venture capital (VC) firms to launch a new Summer Associate Venture Capital program. In 2021, only 1.2% of the record-setting $147 billion raised by startups went to companies with Black founders. Just 2% went to companies with all female-founded teams. Black VCs make up only 3-4% of all investors, while women represent only 15% of general partners at VC firms. Because CoMotion recognizes the inherent value of diversity, we are working to create more equitable environments in the VC and startup fields. Through the Summer Associate program, selected applicants will spend up to ten weeks in a full-time, paid position working at a local VC firm and/or a portfolio company. The program starts in June and runs through August.

Each year, CoMotion recruits VC firms to participate in the program. Students interested in applying for the program complete an application, which participating firms then review. CoMotion manages the application process, offering informational sessions, a central point-of-contact, and support throughout the application timeline. Offers for internships are then made by participating VC firms, not UW or CoMotion. Internships begin on a mutually agreeable date (usually mid-June) and last approximately ten weeks. During this period, interns gain front-row exposure to startup founders, deal flow, and more.

Applications open in February and close in March. Watch this space for more information and a link to the application form for the next cycle.

Roles and responsibilities for each intern may include:

• Market research and analysis
• Investment screening/research and writing of investment memos
• Due diligence and financial analysis
• Modeling investment projections and returns
• Project-specific work with portfolio companies

Both graduate and undergraduate students are eligible to apply for this program. Candidates from a variety of backgrounds and disciplines are encouraged to apply, with the most competitive being curious, entrepreneurial, and genuinely interested in the VC and startup worlds. Additionally, candidates will possess the following experiences and qualifications:

• Related experience – worked at a startup in the technology, fintech, or healthcare sectors, or having worked within these domains through a consulting, banking, or investing role. Or, experience launching their own startup in one of these domains.
• Intellectual curiosity — thirst for knowledge on how/why things work.
• Professionalism — take pride in the detail, thoroughness, accuracy, and overall quality of work. Capable of engaging and developing relationships with industry leaders, founders, and other investors.
• Self-directed — work with team members to complete tasks without someone looking over their shoulder.
• Openness and friendliness — work collaboratively, without an ego, and believe in the power of teamwork.