News Article
Edward “Ed” McMillan, ’69 ACES, stands as a steadfast alumnus who has offered his unwavering commitment to the University of Illinois System. His contributions span a multitude of university boards, notably including the Board of Trustees, University of Illinois Alumni Association, Research Park and Illinois Ventures. Following his retirement from the Illinois Ventures Board of Managers, a fellowship was created to recognize his decades-long dedication and service to the university.
The Edward L. McMillan Venture Fellowship will be given to one University of Illinois Urbana-Champaign student each year who exhibits a desire to develop entrepreneurial leadership capabilities, interest in early-stage venture capital, and commitment to University of Illinois values.
Benefits of Fellowship
In addition to working alongside investment and operational professionals with decades of experience, the Fellow will
- Receive introductions to diverse venture models within both local and national communities, expanding your network and insights into varied business approaches
- Engage in curated, in-person one-on-one introductory meetings with leaders in the venture space
- Gain access to University leaders for invaluable networking and collaborative opportunities
Duties & Responsibilities
As the lead for a team of Illinois Ventures Fellows, the Edward L. McMillan Fellow will spearhead crucial tasks integral to portfolio management and deal flow activities within the Company. This role involves close collaboration with Illinois Ventures staff to evaluate and screen potential investments for the organization’s funds.
Key responsibilities
Team Management
Supervise and lead a team of Illinois Ventures Fellows, and work directly with the Senior Director of Illinois Ventures in managing the Illinois Ventures Fellowship Program
Conduct Due Diligence
Develop detailed due diligence packages for potential investments, actively engaging in diverse aspects such as market analysis, sizing, industry research, and technology assessment, contributing to the creation of comprehensive investment memos.
Financial Modeling
In partnership with the Illinois Ventures team, develop financial models pertaining to financings, valuations, restructuring, and liquidity events.
Create Presentation Materials
Develop polished and professional investment presentation materials by refining themes, synthesizing collected data, and constructing visually captivating content aligned with the style parameters of Illinois Ventures.
Engage in Stakeholder Meetings
Actively participate in meetings with team members and entrepreneurs, evaluating business plans and potential investment opportunities.
In addition to these primary responsibilities, the Edward L. McMillan Fellow will provide essential support for the organization’s operational activities.
Criteria
The awardees are selected using the following criteria:
- Demonstrated leadership skills in academic, extracurricular, or community activities
- Academic coursework, projects, internships or general interest related to venture capital, entrepreneurial leadership, new venture development, or technology development
- Strong alignment with the core values of the University of Illinois, such as integrity, diversity, excellence, and community engagement or involvement in activities that reflect a commitment to the university community
- Strong desire to impact your educational career at the University through participation in this Fellowship program
- Applicants must be a UIUC student and available to work from February 2024 through May 2025
Application
Please provide the following for consideration for the Fellowship:
- Resume
- A one-page essay that answers the following:
- Describe your long-term career vision and the goals you aspire to achieve. Provide details on how the Fellowship could help you achieve these goals. In what ways do you foresee yourself making a significant and lasting impact at the University of Illinois?
- Two letters of recommendation from faculty advisors, professors, TAs, and/or employers dated within the last 12 months
Only applications submitted via Handshake will be considered. The Fellowship posting can be found at https:/app.joinhandshake.com/jobs/8448445 or by searching “Edward L. McMillan Venture Fellowship” on Handshake.
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