John Chambers, president and CEO of computer-networking giant Cisco Systems, Inc., has donated $1 million to Indiana University's Kelley School of Business to establish an internship program that will allow students pursuing a master of business administration degree to work alongside top executives at emerging companies.
Chambers, who earned his MBA in finance and management from the school in 1976, made the gift through the Chambers Family Charitable Trust at the Fidelity Charitable Gift Fund. Under the program, eight MBA students will work for ten to twelve weeks with a chief operating officer, chief information officer, or CEO at an emerging company. The students will be exposed to all phases of company operations, focus on projects that are innovative and entrepreneurial, and work inside an organization at its earliest stages of development. Interns' salaries will be subsidized up to $2,000 a month, with host companies matching the amount. First-year MBA students majoring in information systems, entrepreneurship, or e-business are eligible to apply.
"The MBA student can target a high-tech or start-up business, using the prestige of the Chambers Internship to make a compelling case for a summer position," said Dick McCracken, director of graduate career services at the Kelley School. "It benefits the employer directly, as the summer wage is shared through the endowed gift. Employers benefit through adding premier MBA talent, taking advantage of shared risk."