IVB Records 100% Internship Placements for Undergrad Students, Paid and High Impact Roles

Institute of Venture Building (IVB), a new gen college for entrepreneurship in Chennai, has recorded 100% internship placements for their inaugural batch of undergraduate students. Notably, all students have secured paid internships, having only completed their 1st year.

The minimum stipend secured was ₹10,000 per month, and maximum stipend was ₹30,000 per month. The average stipend stood at ₹13,486 per month. 

In what is a uniquely designed program, the entire 2nd year is dedicated to internships, without any classes in this period. The year is divided into multiple internships, where students get varied exposure to different companies, industries, roles, and locations. 

Some of the top recruiters were companies like Zomato, Groww, Startup Singam, Mount Judi Ventures, 2070 Health, The StepUp Ventures, Artha99, Wow! Momo, among others, represents a healthy mix of high-growth startups, venture capital firms and established enterprises. 

The most popular role with 39% of placements was Marketing & Sales, followed by 33% students being placed in Investments & Finance. Remaining students were placed in roles such as Founders Office & Strategy (11%), Operations & Supply Chain (8%), and Technology (8%).

Recruiters seem impressed with students demonstrating an entrepreneurial mindset, and being well-equipped in emerging business and technology skills, especially with the use of AI. Arjun Vijay, Co-Founder of Giottus, a leading crypto exchange platform, shared his enthusiasm about working with IVB talent: “The energy and skillset of IVB students is amazing, combining knowledge of latest technology and tools, with enthusiasm to help us grow. At Giottus, we’re excited to tap into their expertise, and learn alongside them.”

Mohammed Amer, Co-Founder of IVB, attributed the success to their program design: “By design our program attracts ambitious students, who thrive with likeminded peers. Our 1st year is all about getting them industry ready, where our faculty, all of whom are industry experts, train students with skills of the present and future in a hands-on manner. With this, students grow into talent who have high agency and are tech savvy, and add value to companies from Day 1 of internships.

He further added, “We are happy to see companies appreciate our students being unique and specially trained, and hire them on the basis of demonstrated skills. Our students have cracked some highly elite roles, despite some of them having average academic track records. And ultimately this is what companies require. Unfortunately, they are forced to over-anchor on proxy indicators such as marks because typically students don’t have demonstrated skills and experience.”

IVB students have managed to secure elite internships such as those in venture capital, leading startups and consumer brands, and in roles working directly with founders. One unique internship is with 2070 Health, India’s leading Healthcare Venture Studio. Through this experience, students get to see both sides of investing and building companies, from validating ideas, to setting up, launching, and scaling businesses.

The extensive use of internships in IVB’s program is interesting food for thought. IVB’s inspiration for this is said to be leadership programs from top corporates for its employees, and internships during medical education. These are seemingly lacking in business and tech education.

Mano Venkatesh, Co-Founder of IVB, shed light on the importance of proper internships: “The internships our students pursue are full-time and in-office, and in good roles. This helps them see how companies are run, including building and selling products, understanding business models, managing people, and identifying market gaps and opportunities. Each internship also builds your network, where people you meet become your mentors, investors, customers, vendors for the future. More importantly, this also helps students identify their interests. With our program, a student gets to explore 4 different companies, industries, and roles, something which would typically someone a decade or more to experience. Our students are pursuing internships from marketing momos to investing in aerospace and energy transition”

In recent times, companies are increasingly using internships as a way to assess young talent for full-time jobs. For candidates who prove to be an asset during an internship, companies may issue Pre-Placement Offers (PPOs) to join them after graduation. And with multiple internships at IVB, opportunities for students and companies are plenty.

Overall, IVB’s has a fresh take with an alternate model, moving education beyond theory and classroom learning. This internship placement marks an approval from industry, and showcases how IVB is truly bridging the industry academia gap, and building India’s future.