Exclusive: Nasdaq program matches interns with startups
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A new accelerator-style program from the nonprofit Nasdaq Entrepreneurial Center will offer NWA startups free coaching and then pair them with paid student interns.
Why it matters: The two-year pilot backed by the Walton Family Foundation is designed to help young companies grow while giving college students a clearer path into the region's startup economy.
- The program is meant to strengthen Northwest Arkansas' innovation pipeline and help diversify the local economy beyond its largest employers, Yee-Lin Lai, a senior program officer with the Walton Family Foundation, told Axios.
State of play: Two Nasdaq Entrepreneurial Center efforts are combined in the pilot project: Milestone Circles, a 12-week peer-based program for startup founders, and Startup Intern Match, which places students from the University of Arkansas or NorthWest Arkansas Community College with early-stage companies.
- Founders will get help identifying a key business milestone before moving to the intern placement phase.
Matt Waller, former dean of the Sam M. Walton College of Business at the University of Arkansas, will help the Nasdaq Entrepreneurial Center review applications and select cohorts.
- Companies do not have to be headquartered in NWA, but founders should live or do business in the region.
- Founder cohorts will meet in person in Bentonville. The program is free for those selected and does not require founders to supply any equity.
By the numbers: About 70 founders across four cohorts are expected to go through the program by 2028, and about 140 student interns will be placed.
- Interns will be paid $15 an hour for 10 hours a week over 12 weeks.
Between the lines: Venture capital has increasingly moved toward larger investments, creating a gap for younger companies that need support before they are ready for private investors, Lai said.
- The program is also a retention play. By linking students from UA and NWACC with startups, organizers hope more graduates will see a future in Northwest Arkansas' innovation economy.
- Students will be placed through internship programs at both schools.
It will help founders focus on a milestone that could change the trajectory of their business, said Kamy Twiggs Taylor, program director of Milestone Circles at the Nasdaq Entrepreneurial Center.
What's next: Applications open today for founders. The first cohort will include 16–20 companies, and the program is expected to begin Aug. 3.