Summer internships for students from lower income or underrepresented families can have a major impact on their careers. Third Rock Ventures, a leading healthcare venture firm, sees that important connection as well, serving as founding partner of Life Science Cares’ Project Onramp, a paid summer internship program now being scaled via LSC affiliates.
Launched in Boston in 2019 the program serves over 300 students with many more on the horizon due to Third Rock’s support. Those participating in the program are often a family’s first-generation to enter college. By gaining real world experience and exposing these college students to potential future employers, the program moves LSC’s mission forward to “disrupt the cycle of poverty and inequality”.
Third Rock’s partnership with LSC will narrow the opportunity gap young people face by giving them real world experience at a time when they are choosing their career paths. As the venture firm focuses on healthcare, their investment in Project Onramp and the hiring of interns will give them greater visibility to talent, now and into the future.
“We are proud to be a Founding Partner in Project Onramp’s efforts to scale their reach and impact,” said Reid Huber, Ph.D., Partner at Third Rock. “Third Rock is committed to cultivating the next generation of innovators in biotech and ensuring that we are doing all that we can to help under-represented communities find a way to our industry.”
LSC with Third Rock’s commitment in place has set higher goals for Project Onramp that includes serving 1,000 students each summer by 2027. Third Rock’s involvement is also timely due to a generous donor who is matching contributions two-to-one. That contribution with Third Rock’s founding support is a great convergence of focus, creating optimism that more underrepresented and underserved college students will pursue positions in life science industry hubs.
In addition to financial support Third Rock will also serve as a leading voice on the Project Onramp National Advisory Board. They will have an important role in building on the 300+ individuals who have already participated in the program and who are securing full time roles in the life science industry. Upon graduation 94% of current undergraduate interns state they would definitely consider or are now more likely to consider a career in the life sciences industry following their internship experience.
The capacity-building campaign underway seeks to raise $6 million to scale the program across LSC affiliates in Boston, Philadelphia, San Diego, the Bay Area and New York. An alumni network is being established to support students’ post-internship and into their first full-time jobs.
Companies are now submitting job descriptions for paid summer internships for the Project Onramp for the Summer of 2023. Program staff works closely with Student Support Partners to identify students having the necessary skills and interest. They are then interviewed, evaluated and the company hires the candidate that meets their needs.
Other early funders include Google Ventures and JLABS.
