Yale Struggles to Hang on to Tech Students

Posted on July 31, 2008

The demand for people with excellent computer and technical skills is causing problems at Yale according to an entry in the Wall Street Journal's Independent Street blog. Yale has even set up a special intern-like summer program called Yale Entrepreneurial Institute to try to help keep all the Yale tech students from running off to Silicon Valley.

In response, the school has set up a program called the Yale Entrepreneurial Institute, or YEI. The highlight is a 10-week summer program, now wrapping up its second year, that allows student entrepreneurs to work with experienced area businesspeople on their business plans. The students' majors are irrelevant, and they don't need to have taken any business classes.
While the vast majority of students so far have been building tech companies, a few non-techies have slipped in, like one microfinance securitization outfit that's looking for guidance this summer.
So far, says YEI director James Boyle, it's working - at least a little bit. Two of last summer's crop of six start-ups remain in New Haven. Just as important, Mr. Boyle says, is that the program leaves students and potential students with the impression that Yale is an incubator for student-run businesses, just like Stanford or MIT.

It sounds like a smart move by Yale. It just might help get some small businesses created locally. It might also help some students stay in school instead of running off to startups for the lure of stock options that might not amount to anything.