New initiative connects CUNY and other NYC-based college students to paid internships at leading venture capital firms, aiming to diversify the tech and investment talent pipeline.

The New York City Economic Development Corporation (NYCEDC) and Supermomos, a community platform connecting tech founders, VCs, and operators through curated, in-person experiences, have partnered to launch a groundbreaking initiative: the first city-backed VC internship program. Targeting college students in New York City, with a particular focus on the City University of New York (CUNY), this program aims to dismantle long-standing barriers to entry into venture capital and create new pathways for underrepresented, local talent.

“This is more than an internship—it's a systemic unlock for access and equity in venture capital.”

The program marked its launch yesterday (June 9) at Amazon’s flagship New York City office, Hank, with an event to welcome and congratulate the interns. Over 50 VC investors, limited partners and program partners were in attendance.

Venture capital remains one of the most exclusive segments of the finance world. According to a recent Crunchbase study, most VC professionals hail from elite, Ivy League institutions. The NYC VC Internship Program confronts this exclusivity by offering paid opportunities to students who might otherwise lack the networks or resources to break into the industry.

By expanding access to students from public colleges and underrepresented backgrounds, the program helps ensure that the future of venture capital reflects the full spectrum of lived experiences in New York City—not just those of the top 1% or traditionally privileged groups. Venture capital has long been dominated by white men, leading to a narrow range of funded founders and problems being prioritized. A more representative investor base—across race, gender, socioeconomic background, and lived experience—ensures that venture funding flows toward a more diverse array of innovations and communities.

Female founders in particular have historically struggled to access venture capital on equal footing. As I reported in Forbes previously, many women aren’t even granted serious pitch meetings, let alone fair evaluations. White male founders with unconventional ideas are often celebrated as visionaries, while women and founders of color are too often seen as charity cases. As a result of that bias—and the exclusivity of the VC industry—many investors don’t even attempt to understand the markets or problems that diverse founders are addressing. Ultimately, this creates blind spots that limit innovation and overlook entire categories of opportunity. Building a more inclusive VC pipeline means creating decision-makers who understand and value these overlooked perspectives.

When more diverse investors are empowered to make decisions, capital flows toward more representative founders and technologies that solve real-world problems affecting broader communities, not just affluent communities. This isn’t just about fairness—it’s about innovation. Diversity in the investment pipeline leads to more relevant solutions for healthcare, housing, education, and infrastructure, unlocking smarter, more inclusive business outcomes for everyone.

The program is a collaborative effort involving CUNY’s Industrial & Applied Research Division, Everywhere Ventures, the Kauffman Fellows Program, Carta, Morrison & Foerster, and Perkins Coie. It exemplifies the kind of necessary to make systemic change.

Public-private collaboration is essential to scale inclusive innovation. The government can set equity-driven priorities and provide public infrastructure and funding, while private firms bring capital, networks, and hiring pathways. In a city like New York, defined by its unmatched diversity across race, culture, and socioeconomic background, lasting change requires collaboration between institutions with different influence levers. By aligning incentives and working in tandem, public and private stakeholders can more effectively reshape who gets to participate—and lead—in the innovation economy.

With over 675 applicants competing for just 23 slots—a selection rate of under 3%—the program clearly meets a critical need. The full list of VC firms providing internship opportunities for the inaugural 2025 cohort includes:

These firms represent a mix of corporate venture arms, emerging managers, and globally recognized investors—all committed to developing the next generation of NYC-based VC talent.

“A <3% acceptance rate shows how hungry students are for this kind of opportunity—and how rare it still is.”

The 10-week paid internship begins with a hands-on bootcamp led by experienced venture capitalists. Students learn industry fundamentals and visit top VC firms. Bootcamp speakers include Partners from New Enterprise Associates (NEA) and Union Square Ventures, who are supporting the program through educational programming. Interns then contribute to real-world investing tasks like market research, deal sourcing, and portfolio support, with ongoing mentorship from senior investors.

Leaders across the investment community have praised the initiative, noting its potential to fundamentally shift who gets a seat at the table in venture capital.

"We are excited to support an internship program that is focused on broadening access and allowing talented students from non traditional backgrounds the opportunity to explore and experience this industry," said Rebecca Kaden, General Partner at Union Square Ventures, which is welcoming the cohort of students at their offices as part of the training bootcamp.

Another participant, Tiffany Luck, Partner at New Enterprise Associates (NEA), is also welcoming students to their offices for the educational component of the program, emphasizing the need for early exposure to the industry. “We're excited to…support the development of young talent and the next generation of leaders in tech and venture capital in New York.”

"At Blue Ridge Labs, we're always looking for fresh perspectives and those passionate about using technology to address the challenges facing underserved communities," said Managing Director at Robin Hood's venture studio, Sergio Marrero, who is working with an intern through the program. "This program did an exceptional job identifying emerging talent with a drive and curiosity for impact investing."

Tony Kim, Corporate Venture Investor at Cisco, also shared his perspective as a mentor in the program: “As someone who's benefited from strong mentorship and community, I am excited to give back to the NYC tech ecosystem by supporting the next generation of diverse VC talent through this program.”

Another mentor in the program, Aneesha Raghunathan, Investor and Board Member at Susquehanna Growth Equity, added: “Mentorship is about investing in the next generation of innovators. By guiding aspiring investors/operators, we not only share knowledge but also shape the future of our industry. It's exciting to teach the next generation how to think critically about businesses and understand the intricacies of building and evaluating companies.”

“The next generation of VCs won’t all come from Ivy League schools—and that’s a good thing.”

While NYC is a global leader in technology and entrepreneurship, local access to VC roles remains limited. CUNY, the nation’s largest urban public university system, has produced Nobel Prize winners and MacArthur fellows—yet remains underrepresented in VC. This program is a critical intervention to tap into that talent pool and align NYC’s economic growth with inclusive opportunity.

This inaugural effort represents more than a VC internship program; it’s a blueprint for building a more equitable innovation ecosystem. As NYC continues to lead in tech and venture capital, programs like this ensure that leadership includes the diverse voices and talents of the city itself.