First Tech Fund announces inaugural workforce development program partners
First Tech Fund is growing a workforce pipeline for low-income college-aged students through paid work-based learning experiences with companies founded by underrepresented groups and/or by women.
NEW YORK, NY - First Tech Fund—a nonprofit dedicated to empowering low income NYC high school students in identifying, navigating, and attaining academic and professional opportunities—announced the inaugural partners for its new Dual Impact Internship Program. The paid internship pairs college-aged graduates of the First Tech Fund Fellowship Program with a founder, who identifies as underrepresented or as a woman, for a career orientated workforce experience within an industry they’re interested in pursuing post-college.
Through First Tech Fund's free, year-long high school fellowship program, over 300 students across NYC have accessed mentorship, college preparation, career readiness, free technology, and pathways to careers of the future since 2020. Building on this opportunity-generating support, the nonprofit has launched its Dual Impact Internship Program, through which 20 First Tech Fund Alumni are paired with a paid, eight-week long internship relevant to their career interests. Research shows that students who have participated in a paid internship as an undergraduate have higher-paying first jobs a year after graduation — even when accounting for differences in pay based on field of study, gender, and race/ethnicity.
Spanning from marketing and data analysis to healthcare, engineering, and finance, the internships are hosted by companies founded by entrepreneurs of color or female entrepreneurs. Data shows underrepresented founders and women founders are less likely to have access to the capital they need to grow their team. First Tech Fund will be paying either most of or a percentage of each of the intern’s stipends on behalf of each company as a means to bridge this gap.
Among the 14 companies participating in the 2024 Dual Impact Internship Program:
Awarded Software, helps colleges and universities get their students more scholarship awards with less work. With Awarded, schools help students graduate with less debt, raise more money from engaged and inspired donors, and improve collaboration within their departments.
Cambio Labs creates educational programs and technology that transforms students into founders of businesses and organizations driven by social and environmental missions.
Cap Table Coalition aims to diversify the venture capital ecosystem by creating investment opportunities for Black, Latinx, LGBTQ+, Native American, women, and other traditionally marginalized investors.
Dayna’s House/In House Media, a creative content agency, develops real stories from real people, rooted in an editorial language at the intersection of culture and innovation, and creating social-first content for all digital media platforms.
Elevate Digital helps small businesses connect to much needed coaching, advisory services, tailored strategic planning assistance, and technology support to help them achieve their goals and meet changing demands.
Gaia Software Inc. offers intuitive solutions designed for school nutrition teams, empowering them to fulfill their mission of nourishing students' bodies and minds.
Givepact, a crypto philanthropy platform, supports nonprofits.
Hera Health Solutions Inc.. a nanotechnology company, specializes in the research, development, and commercialization of long-acting treatments through proprietary bioerodible drug delivery solutions.
Libbie Health, a digital wellness company, creates inclusive mental health solutions. Libbie, an AI-powered mental health companion, delivers culturally sensitive support for those navigating anxiety, depression, and trauma.
Nickel, a finance platform, powers commerce for the built world. Construction supply businesses of all sizes use Nickel to move money and protect themselves from fraud and audits.
Sana Capital, a healthcare private equity firm, partners with entrepreneurs and growth-stage businesses to remedy current healthcare gaps. Sana uses a policy-driven approach to make calculated investments in companies that increase access, improve outcomes, and reduce costs for underserved communities.
Temelio, a grants management platform, allows foundations to easily distribute, manage, and track their funds while building better relationships with their grantee partners.
trubel&co, a tech-justice nonprofit, champions youth to disrupt social and environmental disparities using data, design, and tech.
WinWon, a sports technology company, revolutionizes the way sports programs operate with advanced software.
“We’ve heard constantly from our student community about the difficulties they face once they arrive to college and navigate the complex internship process, and we’ve seen how transformational it can be to help students land a meaningful work experience. With more global companies cutting staff and making reductions in DEI programs and budgets, it’s more important than ever to invest in this programming that is creating real systems change and gives students a real opportunity to build skills and social capital that will allow them to access true economic mobility,” said Josue De Paz, CEO and co-founder of First Tech Fund.
The Dual Impact Internship Program was piloted in the summer of 2023 with Hera Health Solutions where two First Tech Fund Alumni completed their first internships. First Tech Fund then surveyed their 200+ alumni to understand their interests, what fields they wanted to pursue, and what types of internships they would be interested in. With that information, FTF recruited the partners participating in the internship program this year. Of the 20 former First Tech Fund fellows and college students, 4 are rising seniors, 7 are rising juniors, and 9 are rising sophomores and represent a number of schools including Baruch College, Carnegie Mellon University, City College of NY (2), Columbia University (2), Fordham University, Hofstra University, Hunter College, Middlebury College, NYU (2), New York City College of Technology, Queensborough College, Tufts University (2), University of Mount St. Vincent, and University of Rochester (2).
“The First Tech Fund Alumni who participated in internships last summer supported our work to provide a solution to the lack of equitable access to quality healthcare,” said Idicula Mathew, CEO & Co-Founder at Hera Health Solutions. “We are excited to welcome another group of First Tech Fund Alum to our team this summer and are grateful for the capacity-building support provided through the Dual-Impact Internship Program.”
“Through the First Tech Fund internship program, I was able to get my first opportunity in the biotechnology space, get real-world experience that will inform the rest of my journey through higher education, and learn the importance of building skills for the future,” said Raquel Cosme, a sophomore at Carnegie Mellon University from the Bronx who is a 2021 alum of First Tech Fund’s fellowship program and one of two students who were part of the internship pilot program with FTF partner Hera Health Solutions. “Thanks to First Tech Fund’s resources and support, I was able to take part in an opportunity that I wouldn’t have been able to access without their support. I’m excited for other First Tech Fund fellows to start their paid internship experiences this summer!”
To support First Tech Fund’s work catalyzing careers for NYC high school students, make a donation at firsttechfund.com/donate-now or contact info@firsttechfund.com.
ABOUT FIRST TECH FUND
First Tech Fund is a 501(c)3 nonprofit dedicated to empowering low income high school students in identifying, navigating, and attaining academic and professional opportunities. First Tech Fund provides a supportive, adaptive ecosystem where students get access to free tech, free broadband, skills training, social capital, mentorship, and more. Follow First Tech Fund on Instagram, Twitter, Facebook, LinkedIn, and YouTube.