The Internship Movie

With an extensive summer internship program, New York City-based ff Venture Capital hopes to help its portfolio companies and budding entrepreneurs alike.

The early-stage VC firm is today launching the ff Fellows Program, which will let current undergrad and graduate students spend the summer at one of the company’s portfolio companies, or at its NYC main office.

“One of the biggest challenges most companies have these days, definitely including ours, is finding talent and engineering help,” said ff Venture Capital associate Ryan Armbrust in an interview, who’s heading up the internship program. The firm hopes that interns could eventually land full-time positions at their respective companies — or at least gather enough real-world experience to help launch their own business.

The program will be split into two tracks: the ff Technical Fellows, who will work with ff portfolio companies across the country, and the ff Acceleration Fellows, who will help out at the ff offices in NYC. Compensation for the internships will depend on the individual portfolio companies, according to Armbrust.

In many ways, the internship is an extension of the hands-on support ff Venture Capital offers its portfolio companies after cutting them a check. The firm provides a variety of “acceleration resources” to help its companies succeed, including an extensive mentor network, recruiting help, and process improvement.

“Going forward for us, I think this [the hands-on help] is going to be really pivotal,” Aishwarya Iyer, ff VC’s new communications head, said in an interview. After spending more than three years at SecondMarket, she joined ff VC primarily because she believed its strategy can build better businesses.

The VC firm has invested in more than 60 companies since 1999, and its current portfolio includes Klout, Indiegogo, and 500px. It currently manages around $60 million worth of assets.

Photo: The Internship/20th Century Fox