JumpStart NYC Frequently Asked Questions

1. Why JumpStart NYC?
2. What does the program cost?
3. What will I learn?
4. Can I apply, even if I am not from financial services?
5. What is an Action Learning Project?
6. Do I get to choose my internship?
7. What companies/organizations are participating in the internship program?
8. Will I get paid for what I do?
9. After completing this program, will I have a new job?
10. What should I do if I get a full time job during the program?
11. Who are NYCEDC and The Levin Institute?

1. Why JumpStart NYC?
Mayor Bloomberg and the New York City Economic Development Corporation want to keep New York’s young talent here in the City, gainfully employed in other sectors. They also want to help individuals quickly transition into new opportunities.

2. What does the program cost?

The costs of this pilot program are subsidized by the NYC Economic Development Corporation and the Levin Institute, which is a branch of the State University of New York – so there is no charge to the participants.

3. What will I learn?

The overriding goal is to help you get a new job. You’ll learn about your own strengths and skills, and how you might use them to transition into a next job. You’ll learn about the entrepreneurial world in New York: how venture capital (VC) works, the different mindset of the start-up, how VCs judge investments, and what sectors are lively in New York. You’ll learn through a proven simulation how to put a small business plan together. You’ll learn networking tips, and have the chance to regularly get connected to influential NY networks. You’ll also learn a lot about your own skills, to think about how to define your own value.

4. Can I apply, even if I am not from financial services?

At present, we are limiting the program to people laid off from financial services firms. We welcome applicants with all kinds of backgrounds and jobs in Finance, including finance, IT, sales, research, etc.

5. What is an Action Learning Project (ALP)?

An ALP is similar to a professional internship in that it is an opportunity to learn by doing about the opportunities in a different business sector. Your work assignment will match your skill level, and give you a chance to you to check out a different opportunity, and determine if it’s for you.

6. Do I get to choose my internship?

We’ll do our best to match you with an opportunity that suits your interest and qualifications, but we can’t guarantee you complete choice. Please specify your interests in your application essays.

7. What companies/organizations are participating in the internship program?

They will mostly be entrepreneurial start-ups, including digital media, software, healthcare IT, life sciences, green technology and carbon finance, as well as smaller services firms. There will likely be a few not-for-profits, including several involved in economic development, for those who are interested in exploring this option.

8. Will I get paid for what I do?

In this pilot phase of the program, we are not charging participants or companies to be involved. We encourage companies to offer stipends, which will not be market-rate salaries, but a stipend is not assured.

9. After completing this program, will I have a new job?

We hope that you will be able to demonstrate that you can deliver value in the long run, and will be offered a longer term opportunity, but it is not guaranteed. For the participating companies, this is a chance to “try before you buy”.

10. What should I do if I get a full time job during the program?

The point of JumpStart NYC is to help you find a job. If you do, it’s a success for all.

11. Who are NYCEDC and The Levin Institute?

New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities.

The Levin Institute is a branch of the State University of New York (SUNY), which delivers graduate and professional education programs that address critical global business issues and leadership challenges. It was founded in 2004 and is located in midtown Manhattan.