Besides the usual spending allowance of S$3,000 (US$2,500), along with goodies like free housing and free plane tickets, one intern at MyCube’s Digital Life Academy has also won an additional S$10,000 (US$8,300) to kickstart his entrepreneurial ambitions.
That person is 19 year-old Anjney Midha, a Stanford University Computer Science and Economics undergraduate. Besides the prize money, he will also serve as a Digital Life Ambassador in the coming years. He plans to set up his own Internet social enterprise.
Four other interns were awarded S$1,000 in cash prizes — Joakim Twetman from Lund University, Michael Bergman, from Sundsta Älvkulle Gymnasiet, Richard Masters from City University, and Liu Wei from Georgia Tech University.
The Digital Life Academy is a 6-week summer internship program where participants spend six weeks in the MyCube office in Singapore to receive training in product development, project management, company formation, fundraising, marketing, and more. They also attended talks by speakers from Google, Yahoo, and Microsoft, as well as receive hands on experience in developing new business ideas.
33 interns from 19 countries were selected from over 15,000 candidates in more than 100 countries — which is not surprising considering the allowance, benefits, and experience the interns get.
This inaugural internship program is a marketing effort by MyCube, a startup that endeavors to build the “world’s first Social Exchange” which allows users to own, control, and monetize their digital data. Their service is currently in private beta. Recently, Black Ocean, the company’s key investor, has obtained majority ownership after another round of funding.
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