The Iowa Student Internship Program provides grants to small and medium-sized companies in the advanced manufacturing, biosciences and information technology industries to help support their internship programs with a goal of transitioning the interns to full-time employment in the state upon graduation. The Iowa Economic Development Authority will accept applications for funding through this program through April 30, 2013 or until the funds run out. Most years those funds have run out before the deadline.
The Iowa Student Internship Program is a win-win-win situation for all of the involved parties.
Internships help students gain valuable “real-life” experience and understand the benefits available to them working in Iowa. Businesses can cost-effectively gain a competitive edge in recruiting and marketing themselves as prospective employers. The state of Iowa wins by addressing long-term workforce challenges and by keeping talented, recent graduates in targeted industries in the state.
Eligibility and Award Information
The program is available to Iowa-based companies that meet the following criteria:
- Fewer than 500 employees, with a significant portion employed within the state of Iowa and engaged in one of the following industries: biosciences, advanced manufacturing or information technology.
- Offer the internship to students of Iowa community colleges, private colleges, regent universities or to students who graduated from an Iowa high school and attend a college or university outside of the state.
- An eligible student must be within two years of graduation
- Summer internships must last a minimum of eight weeks (averaging no less than 30 hours per week). Semester internships must last a minimum of 14 weeks (averaging no less than 10 hours per week.)
- Pay the intern at least twice the minimum wage ($14.50).
Eligible companies can apply for support for up to two internships for fiscal year 2013 (July 1, 2012 – June 30, 2013). The program is managed on a reimbursement basis. The award amount allowable through this program will be in an amount of one dollar for every two dollars paid by the business to the intern, up to $3,100 per intern.