This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Venture for America Boosts Entrepreneurs

NEW YORK ( TheStreet) -- An initiative hopes to boost the allure of entrepreneurship in economically challenged U.S. cities by offering jobs to recent college graduates.

Venture for America, based loosely on the popular Teach for America, aims to direct more of the country's recently graduated, unemployed top talent into entrepreneurship.

The Venture for America initiative hopes to help economically challenged U.S. cities as well as job-challenged graduates.

College seniors or graduates can apply to become Venture for America fellows starting this month. The organization plans to accept a minimum 50 students from the Class of 2012 and place them at jobs in three economically challenged cities: New Orleans, Detroit and Providence, R.I. The program will expand to other cities as well.

"There is a massive talent war. Consulting firms and banks are rolling out the red carpet and we think that these paths bring people away from environments of impact, like these companies in Detroit that need smart help," says Andrew Yang, the initiative's founder and president. "We're really excited about providing that runway."

Yang wants to offer recent college grads what basically amounts to an apprenticeship at small startups.

Companies are required to keep a fellow on for two years (assuming there are no major issues). Starting salaries are meager -- roughly $32,000 to $38,000, Venture for America says -- but at the end of the two years, companies can rehire the employee under new terms.

But that's when the fellow found to have performed the best will get $100,000 in either seed investment for a new venture or support for his or her company. Yang expects to work with more angel investors and venture capital firms to award multiple grants.

"The idea is that these people stick to entrepreneurship and contribute to the success of small businesses," he says.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,904.32 +99.52 0.56%
S&P 500 2,072.49 +1.84 0.09%
NASDAQ 4,776.0750 +10.6950 0.22%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs