Many of you are probably facing graduation next month and wondering how you will to turn that diploma into a paying job. One option is to work for a start-up.
Here’s what you need to know:
Who: A company in the beginning stages of development.
Usually, start-ups have a small, dedicated staffs and are involved in the greater technology field. The idea behind a start up is to build a useful idea into a productive business without spending on costs that hamper larger firms.
Instead, start-ups invest a small amount of money at the beginning of a project and add to the mix a great deal of time and energy, hoping to achieve a larger profit later on. Start-ups sometimes make money after their work is recognized by a venture capitalist firm (VC) who invests money into their project, by generating a huge public following and growing or by selling to a major corporation.
Why: Three reasons
1. They’re hiring.
2. The economy needs them
3. College students are perfect start-uppers
While you might not be working with the next Mark Zuckerburg, you still have the chance to work for company in its development years and perhaps get your own inspiration for an idea or company of your own.
As the feature film The Social Network depicts, the road from one idea to over a billion users and billions of dollars is far from easy… and the competition is fierce.
Despite this record, Robert Lian, Kauffman’s VP of research and policy reported that more start-ups were solo projects over the past year.
“Economic uncertainty has made them more cautious, and they prefer to start sole proprietorships rather than more costly employer firms. This ‘jobless entrepreneurship’ trend negatively effects job creation and the larger economic recovery,” said Kauffman.
Business Dynamic Statistics reports that from 1977-2005, new firms add an average of 3 million jobs in their first year. Existing firms lost 1 million jobs net combined per year.
Where: New York, Boston and California
Firms are always looking for young, inspired minds and Boston and New York City are becoming the new hubs of innovation, according to a recent USA TODAY story.
While California is still number one in VC investment, New York raised $1.22 billion for 208 deals in 2010, and Massachusetts was not far behind — $1.21 billion for 207 deals.
USA Today found that more start-ups were choosing New York City over Silicon Valley because of the plethora of young people looking to turn diverse interests into companies.
In fact, one NYC start-up created in a business class at New York University’s Stern School of Business, received funding from a Venture Capitalist company in NYC and is now being used around the world.
Boston shares NYC’s youthful and innovative energy in its 100 universities in the Greater Boston Area — including start-up hotbeds Harvard University and Massachusetts Institute of Technology. Boston is currently home to over 1400 start up companies including Helium and Hubspot.
How: Do your research and maybe… get “school-ed”
Boston Start-Up School is the brainchild of the mentorship-based venture accelerator TechStars, and aims to match talented college students to the start-ups that needed them.
“We noticed that a lot of the companies we were investing in were having difficulty capturing talent as they grew. We also saw a disconnect in the talent pool and that most college grads go on to work in law/finance/consulting without ever really hearing about startup opportunities. So we had the idea of creating a program that would enable college grads with the skills to join a startup and hit the ground running,” says Miguel Galvez, BSS Associate and Boston College class of 2012.
The start-up school is a 6 week program that aims to teach its students everything they need to know about software development, product design, marketing, and business development/sales that will enable them to go into a start-up company and work effectively on the team to bring about success and profit.
The school attracts a great deal of attention from start-ups who need employees and is an attractive resume addition.
Of course, not everyone can get to Boston and enroll in the school. But there are many ways to research the start-ups in your area.
Startuphire.com, is a great place to start – a helpful resource with a free job search engine exclusive to venture-based startup companies looking to hire.
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