Student Spotlight Series

John Ayroso

John Ayroso is an Economics student at the College of Arts and Sciences, graduating in 2017. He is currently a Marketing Intern at Columbia Records.

“I am having a blast learning about the intricacies of the music industry and am meeting amazing people every week!”

Student Spotlight Series

Caroline Deng

Caroline Deng is a Stern student majoring in Marketing and Information Systems with a minor in Integrated Digital Media. She plans to graduate in 2017, and she is currently the Digital and Performance Marketing Intern at IBM.

“I’ve had the opportunity to learn a lot of skills, from HTML and Photoshop, to video editing, web design, marketing, and internal community enablement, with a mentor who is personally invested in our success.”

Student Spotlight Series

momachi (1)

Momachi Pabrai is a student at the NYU Gallatin School of Individualized Study who is studying Finance and Media. This summer Momachi is a Business Development Intern at Landmark Ventures.

“It’s a wonderful opportunity to work right at the intersection of emerging technology businesses (specifically digital marketing and television optimization) and Fortune 500 companies!”

Are you an NYU student with an interesting summer internship? If so, email career.communications@nyu.edu and you might be featured on our social media.

Student Spotlight Series

Tatiana

Tatiana Knack is a 2016 MS in Integrated Marketing grad from the NYU School of Professional Studies. This summer, she’s the Marketing Intern for Content and Social Media at Birchbox.

“During my summer internship at Birchbox, I’ve been creating content across various brand channels with a specific focus on social and digital platforms. My role combines strategic and creative abilities, while also being focused on optimizing content discovery through SEO and maximizing engagement on an ongoing basis. We, as a company, believe that content strategy is crucial to the future growth of the brand, since it brings our target strategically closer to our purpose and offerings, stimulating their engagement strongly enough to acquire more than new customers, new brand advocates.”

Are you an NYU student with an interesting summer internship? If so, email career.communications@nyu.edu and you might be featured on our social media.

Student Spotlight Series

Nikita

Nikita Chaturvedi is studying Management of Technology at the Tandon School of Engineering and is expected to graduate in 2017. This summer, she is an Ad Sales Marketing Intern at Scripps Networks Interactive (Food Network).

“This internship is everything I was hoping for, giving me exposure, experience, and opportunity to learn and grow.”

Are you an NYU student with an interesting summer internship? If so, email career.communications@nyu.edu and you might be featured on our social media.

Student Spotlight Series

Jordi

Jordi Ferre is planning to graduate with a MSc in Construction Management from the SPS–Schack Institute of Real Estate in the Fall of 2016. This summer, he is interning in the Construction Services Department at Tishman Construction Corporation, an AECOM company.

“For my internship at Tishman I have been assigned to the Cornell NYC Tech Campus at 1 Main Street (Roosevelt Island). I feel really lucky to collaborate on this project. It’s an amazing one. Besides the complexity of the management, administration and control of the project I am assigned to, I find the magnitude and requirements IT encompasses greatly interesting. The main building of the campus, which is considered net zero energy, will harvest as much energy from the site as it consumes, becoming the largest net-zero energy building in the Eastern United States. Also, I am learning how logistics and jobsite coordination may play a crucial role in the success of any project that has so many agents involved. I always thought logistics was something more static and less changeable, even from one day to another!

Also, I can work with other brilliant and hard working professionals and know first-hand the intricacies of the variety of projects they are or have been involved in. In addition, all the resources available during this internship make this experience even more fruitful.”

Are you an NYU student with an interesting summer internship? If so, email career.communications@nyu.edu and you might be featured on our social media.

Student Spotlight Series

Tomi

Tomi Oluwasanmi is pursuing her Master’s of Public Health in Epidemiology from the NYU College of Global Public Health and will graduate in 2017. She is currently the Immigrant Health Data Intern for Memorial Sloan Kettering Immigrant Health and Cancer Disparities Service.

“I am currently working on the Taxi Network Project with the Immigrant Health and Cancer Disparities Service at Memorial Sloan Kettering. The primary goals of this project are to link NYC Taxi drivers to primary care services, reduce the prevalence of health disparities in this specific population as well as inform NYC Taxi drivers on how to obtain and utilize health insurance. As a future public health professional, my experience at Sloan Kettering has given me the opportunity to participate in community health based interventions and learn how to develop effective healthcare solutions for both minority and immigrant populations.”

Are you an NYU student with an interesting summer internship? If so, email career.communications@nyu.edu and you might be featured on our social media.

Musings on a Venture Capital Internship

Harsh

Harsh Doshi has recently graduated from the New York University Stern School of Business after majoring in finance and statistics. He has previously completed a consulting internship at Cedar Consulting in Mumbai where he conducted research to model a business plan around a new hyper-local delivery startup, and in Deloitte S&O in New York where he helped plan the strategic turnaround of one of the world’s largest fragrance manufacturers. He recently spent a semester working at the Unitus Seed Fund to assist with the sourcing of disruptive companies and identification of terrific entrepreneurs.

I wrapped up my internship at the Unitus Seed Fund last week — marking the end of one of the most insightful, informative and interesting 3.5 months I’ve spent.

I pursued the opportunity to learn more about business dynamics in a setting I knew I wanted to be a part of, but felt a little removed from. Just over a quarter later, I’m convinced that I want to be an active member of the Indian startup ecosystem. Given my limited experience, I just don’t know when, or on which side of the table.

Regardless of the path I choose (investor or entrepreneur), I want to highlight three crucial, path-agnostic and un-intuitive learnings from my internship.

Not all good businesses are VC investable

The ideal startup creates disproportionate value using repeatable, scalable business models. The potential for an investor to realize a super normal return makes it investable. The factors which affect the size and probability of that return are:

1. A large market experiencing some meaningful friction
2. The ability to scale without incurring significant marginal cost or compromising quality
3. A product with a sustainable competitive advantage
4. The potential for sizable positive returns in the near future
5. An incredible team willing to tirelessly tweak their venture to defend and grow its position

Startups outperform on a few criteria, underperform on others, and investors fund ventures with a figurative ‘weighted average score’ that they are comfortable with.

A good business, on the other hand, is a venture that has a consistent, positive cash flow, but doesn’t check at least one of the boxes above. Selling a commodity in a large market (diamond traders) or a differentiated product in a small market (constituent-specific ERP systems for political representatives), for example, are potentially good businesses, but not investable ones.

That said, good businesses can often become investable, and this is particularly true for differentiated products which resolve their initial challenges in scaling. I’ve noticed that the path of least resistance is often building a brand (Paperboat by Hector Beverages or Cafe Coffee Day) or pivoting (going from running schools, to standardizing and managing them).

For example, most FMCG products are good businesses — large markets, no great competitive advantage, scaling is expensive because it is a function of distribution etc. The Paperboat (packaged Indian drinks) team focused on building a brand that emotionally appealed to consumers, locked in key distributors and priced very effectively — converting the business into a cash cow and potential acquisition target — making the venture a lot more investable.

Good business are happy occupying and defending small pieces of a large pie, while investable businesses often look to grow or significantly reallocate portions of the pie. A team’s willingness and ability to make the transition often determines whether a good business gets funded.

Product need does not equal product demand

Need represents a market gap. Demand represents the willingness of the purchaser to fill that gap. Companies make money off demand, not need.
For example, there is a need for faster, cheaper and more accurate diagnosis of UTI (urinary tract infection) in India to reduce drug-resistance and bring down healthcare costs. But doctors make money off prescribing a broad-range antibiotic that works for the majority of UTI patients. They don’t have a high willingness to pay because the existing solution isn’t that bad, and the new solution doesn’t supplement their incomes.

An alignment in incentives between the seller, purchaser and consumer is therefore crucial for sales. Put simply, unless the person who needs to buy the product has a reason to buy the product, the seller will not make money.

Information asymmetry creates strong signals

Information is sparse around private companies, so every action (or lack thereof) sends a strong signal.

A large institutional investor, for example, who doesn’t want to participate in a future round after initially investing in a company signals that something may be unattractive. A company raising a bridge loan signals that it’s struggling to raise money and/or needs money immediately, suggesting that it may be up for grabs at a more attractive valuation.

Signals extend to individuals too. Referrals from reputed angels warrant another layer of due diligence, even for a me-too, because it signals a potentially attractive opportunity. Passing the opportunity to invest in a great startup fishing for term sheets in bad faith signals that investors care more about relationships with each other than just multiplying money.

The converse holds true as well —which makes maintaining a trustworthy reputation, especially in an ecosystem as small as this one, extremely crucial.

If you’re interested in working at Unitus Seed Fund as a Dealflow & Partnership Analyst in Bangalore, India, you can apply via CareerNet (Job Posting 1032660).

Student Spotlight Series

Samantha

Samantha Levy is a Master’s student at Steinhardt in the Food Studies Program and will graduate in 2017. This summer, she is the Biodiversity Intern at Slow Food USA.

“Being the Biodiversity Intern at Slow Food USA allowed me to put my passion for good, clean and fair food to good use. Not only did I write copy for their Ark of Taste Program to entice people to grow and eat endangered varieties, but I also learned how to do basic website coding. I feel I got a great taste for what it is like to work for an important good food non-profit, and I especially enjoyed the daily lunches!”

Are you an NYU student with an interesting summer internship? If so, email career.communications@nyu.edu and you might be featured on our social media.

The Changing Space of Education

Ben

Ben Krusling is a Senior Educational Consultant at Apolish, an online education center for Chinese students. He graduated from Columbia University in 2012 with a degree in English Literature and currently lives in Brooklyn.

So: you’re a student looking for internships and jobs, but not sure which field you want to enter? For today’s more globally-minded students, especially at NYU, the school with the largest population of international students in the U.S., the education industry might be the place for you.

The number of international students studying in the U.S. is increasing annually.

As data from the Institute of International Education indicates, “in 2014/15, international students [studying in the US] increased 10% over the prior year, the highest rate of growth since 1975/76.” More specifically, 974,926 were enrolled in U.S. institutions of learning last year. Compare that to about 886,000 the year before and about 724,000 a few years before that, we can see that more and more students are studying abroad.

These international students are coming from different educational and cultural backgrounds and many are learning to read, write, and speak English as a second (or third, or fourth!) language. Many of these students need help navigating the American educational system, improving their writing skills, receiving supplemental tutoring and services, and more.

What does that mean for you prospective jobseekers? It means that many opportunities are opening up in the education sector to help support and tutor all of these students in their studies.

Not only are their numbers increasing, but these students are coming from all over the world and from an increasing variety of countries.

Data from the Wall Street Journal indicates that, while over 50% of students come from just five countries–China (31% of all international students), India (14%), South Korea (7%), Saudi Arabia (6%), and Canada (3%)—there are still thousands of students from countries like Brazil (2%), Vietnam (2%), and Mexico (2%). In the last few years, these students have added over $30 billion to the U.S. economy.

Some educational companies work exclusively with students from one of these countries and many educational companies from those countries have opened American offices. As a result, there are often opportunities for employees at these companies to travel on behalf of their employer to work with students in their countries of origins while still being based in a major city like New York.

Technology and the internet are drastically changing the way private tutors and educators can help their students.

In today’s global world, companies are increasingly innovating new online platforms and programs to help reach students, no matter where they are. Online classes and seminars are becoming more common as are remote video conferences with students and clients.

Historically, the education industry has been quite slow to adopt new trends and adapt to the opportunities that new technology offers. The rise of organizations like Khan Academy and others have accelerated this new trend and also innovated the idea of a “flipped classroom,” where students watch lecture material at home and spend class time on discussing the material and doing activities.

What does that mean for you? It means the educational industry is a great place for those interested in innovation and flexibility, in the digital humanities, and in finding new ways to connect with students and educators around the world.

Interested in education, international opportunities, and startups? Check out Apolish to learn more about our company and look at our open part-time and full-time positions.