Wall Street West Commends Success of Originate Ventures' Internship Program

Students from Villanova, Boston College learn first-hand about the Venture Capital Industry

BETHLEHEM, PENNSYLVANIA - In nature, a wildcat and an eagle would not typically work well together, but in the business world, they were able to coexist seamlessly due to an opportunity from a respected venture capital firm and a regional workforce initiative in Northeastern Pennsylvania.

This summer, Villanova University's Carl Niedbala and Boston College's Brendan Feinberg were the first appointments to the Originate Ventures' Internship Program, an initiative that allows students to receive first-hand experience on how business deals are developed through the tutelage of an early-stage venture capital investment firm that focuses on the fields of healthcare, information technology and consumer and web-based products.

"Just as we are giving opportunities to companies that are in the early-stages of development, we are also giving opportunities to students that are at the early-stage of their careers," Co-Founder & a Managing Partner of Originate Ventures, Mike Gausling said. "Through a partnership with Wall Street West, we are trying to create a truly comprehensive program for students that will be the future of this industry. The work of both Carl and Brendan not only improved our abilities as a company, but gave them primary knowledge on the steps necessary to work in the financial world."

Carl Niedbala, a junior finance major originally from Allentown, Pennsylvania, learned about Originate Ventures a year ago and knew it was an organization he wanted to work for and learn from. Among his primary tasks throughout the summer were to track and vet the large number of incoming inquiries and proposals for funding. Additionally, he played a significant role in the development and implementation of specialized software used to streamline the Company's efficiency. Through these tasks, he learned the elements of deal-flow, common components of a well-structured business, and communications and research skills.

"Whether it was something as simple as learning how to have an affective business conversation, or something more complex, such as understanding conceptual knowledge detailed in term sheets, my time at Originate was incredibly valuable. I look forward to applying my experiences to my future education and my professional career," Niedbala said.

Brendan Feinberg, a sophomore finance and economics major from Allentown, Pennsylvania, viewed this opportunity as a way to apply the knowledge he learned in school to the 'real world.' Among his primary responsibilities were to compare statistics and deal terms from the venture capital industry to those of Originate's clients, as well as analyze markets and opportunities in certain industries. These assignments allowed him to learn the importance of time-management skills in business and the essentials to successfully completing a project.

"My summer with Originate Ventures has allowed me to grow my communication, analytic and deal knowledge skills, all of which I will need for future opportunities. However, the most important lesson I will take with me is that hard work, dedication and the endless pursuit of knowledge are the keys to personal improvement," Feinberg said.

Funding for the internship was made possible by Wall Street West, a regional collaboration of Northeast Pennsylvania stakeholders aimed at strategic workforce and economic development. The Originate Ventures' Internship Program was among the first approved projects, primarily due to its educational components, as well as its intrinsic, public-private link.

"The Originate Ventures' Internship Program represents all the aspects of how Wall Street West is transforming the Northeastern Pennsylvania region," said Susan Shaffer, Director of Workforce Initiatives, Wall Street West. "As one of the initially funded projects, they are the benchmark for how companies partnered with Wall Street West participate in the teaching of the next generation of the region's workforce."

 To date, Wall Street West has awarded more than $8 million to projects and programs aimed at developing the workforce of the nine-county region.

Originate Ventures is a venture capital investment firm located in Pennsylvania's Lehigh Valley, targeting early stage product and services companies located in Pennsylvania and the surrounding regions. The Company's focus is on investing in healthcare, consumer, information technology, web-based and certain commercial products and/or distribution opportunities. As an integral part of its portfolio management, Originate helps develop brand-driven growth strategies that guide the business direction and capitalize on the Managing Partners' prior experience in growing companies with investments ranging from $500,000 to $4 million. For more information, please visit www.originateventures.com

Wall Street West is a not-for-profit partnership in Northeastern Pennsylvania that is enhancing the financial services, information technology and related industries in the commonwealth through strategic workforce development and state-of-the-art economic development. Stemming from an interagency report by the Securities and Exchange Commission (SEC), the Federal Reserve and the U.S. Department of the Treasury - whose recommendations make the nine-county region an optimal geographic location for secure data back-up and back office operations - the goal of Wall Street West is to work with firms in New York City and the surrounding metropolitan threat zones to establish supplemental facilities to safeguard data, fund the education and training of a growing workforce, and expand the competitiveness and potential of these industries. The

Wall Street West partnership is made up of the top-tier economic development agencies; technology investment groups; workforce development organizations; education and research institutions; and private sector companies in the region. With the Ben Franklin Technology Partners of Northeastern Pennsylvania acting as the project manager, Wall Street West has federal support through a $15 million Workforce Innovation in Regional Economic Development (WIRED) grant from the U.S. Department of Labor for education and job training, as well as a combined $24 million commitment by the U.S. Department of Commerce, the Pennsylvania Department of Community and Economic Development, and private industry to enhance existing infrastructure.

For more information on the Wall Street West partners and programs, please call 610-758-5233 or visit www.wallstreetwest.org.

 

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