Intern- Technology and Life Sciences

Location US-NJ-North Brunswick
Job ID
2018-1319
Category/Department
Business Development & Product - Technology & Life Sciences

Overview

Job Summary

 

Work with a team of highly motivated financial professionals, who are passionate about advancing employment in New Jersey’s emerging technology and life sciences community and who support this sector with unique financing products.

The successful candidate will perform duties that will assist the Technology & Life Sciences Division in reviewing applicants to participate in a $60 Million annual tax incentive program - the Technology Business Tax Certificate Transfer Program (NOL) and will be the first line reviewer of applicants within preset guidelines. As time permits, the candidate will also review applicants for a $25Million annual tax incentive program, the Angel Investor Tax Credit Program (ATC). The applicant will have a first hand insight of New Jersey businesses which are looking to create business solutions around new technologies such as education technology, financial technology and scientific cures for cancer and rare disease, and the capital needs of these companies to grow their businesses in the state of New Jersey.

 

Interns will also receive exposure to business development and venture funding while gaining an understanding of New Jersey’s emerging technology and biotechnology community. This internship is designed to prepare students for a fast-paced business environment. The experience also includes interaction with a peer mentor, workshops, and networking events.

 

$15.00 per hour

Responsibilities

Essential Duties and Responsibilities

 

• Reviews legislative and internal training documentation on legislative created incentive programs and participates in training exercises to gain familiarity and a basic understanding of the program requirements
• Participates in ancillary training on other technology-led economic development financing initiatives including Edison Innovation Venture Loans, Venture Fund Limited Partnership Investments, and Equity Co-Investments in NJ based Tech Companies
• Reviews applications through analysis of financial statements, company structure through organizational documents, employment validation through employment logs and tax records, and other pertinent company documents to ensure applicants comply with minimum eligibility criteria
• Collaborates with assigned Officer to discuss application status and list deficiencies in the NOL application checklist
• Works with NOL Program Lead to coordinate follow-up with NOL consultants and Direct Applicants on missing items and/or clarifications pertaining to the NOL applications
• Researches via online search tool, the geographic location of prior awardees under the NOL program to assure they have maintained a New Jersey presence for five years after receiving a NOL award. If a breach of the requirement is identified, the intern will work with the program manager in calculating a clawback penalty payment.
• Learns and utilizes the EDA’s Customer Relationship Management database per departmental standards
• Reviews assigned Angel Tax Credit program applications for completeness and prepares Project Summaries and Approval Packages for Program Manager
• Reports progress in weekly team meetings
• Participates in business development meetings and or industry events as assigned
• Performs other duties as may be assigned

 

Required Skills and Abilities

  •  Advanced skills in research, writing, organization of priorities
  •  Ability to work with various excel spreadsheets and software applications
  •  Initiative and creativity
  •  Interest in start-ups and emerging technology businesses
  •  Demonstrates respectful behavior and promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers

 

Qualifications

Required Qualifications

  •  Must reside in New Jersey for the summer
  •  Preference for a student who attends a New Jersey domiciled College/University
  •  Must be available to work full time starting on June 4th and with very limited time off July 1st through August 8th.
  •  Student in a Bachelors or Masters Degree program in statistics, accounting, finance, economics, economic development, and/or related field. Minimum GPA 3.0
  •  Must have completed 1st Level Accounting Class, with the ability to read a GAAP prepared financial statement
  •  Strong analytical and research skills, 
  •  Ability to think and work independently.
  •  Capable of handling a large workload
  •  Excellent written and oral communication skills,
  •  Proficiency in Word and Excel for Windows
  •  Must be detail oriented and a team player

Work Location: Commercialization Center for Innovative Technologies (CCIT) in North Brunswick

 

Physical Demands

• Minimal

 

Certificates and Licenses Required
• None

 

Travel
• Minimal

 

Note

The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job description specification. Conversely, all duties performed on the job may not be listed.

Equal Opportunity Employer

Position Requirements

• Must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
• Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.

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