Internship Description

Martin Clark '24 interned with PollyLabs, a startup and venture studio building purpose-driven companies addressing some of the world's biggest challenges. It aims to build impact startups using existing, world-class technology to address the unmet needs of underserved individuals and organizations, while delivering outstanding financial and societal returns. Martin's project supported the organization by establishing an ecosystem and partnership strategy, identifying key stakeholders within the impact tech ecosystem, spearheading fundraising efforts, and leading venture incubation (opportunity exploration, validation, and prototyping) within the care economy.

During my summer at PollyLabs, I worked to support the organization through strategy and ventures projects. PollyLabs is a venture studio, fund, and nonprofit in the social impact sector that is aiming to create 20-25 new purpose-driven ventures using a methodology of tech repurposing. This concept refers to the idea that we can use technology that has been created in mainstream investment categories and re-deploy it within industries that are underserved by traditional financial institutions. Within the strategy workstream, I assisted in creating a partnership with a large corporate enterprise by identifying and creating our partnership values, objectives, and expectations for working with external partners. We developed a concept note that outlines proposed workstreams across eminence and research, convening, venture building, and investments as part of this effort. Furthermore, we presented a proposal to a large corporate enterprise for an event during the United Nations General Assembly with a focus on entrepreneurship and underrepresented founders to impact the sustainable development goals.

For the ventures workstream I was responsible for conducting primary research to identify and quantify a problem within the \"care economy\" to better understand the challenges and trends associated with this industry, ultimately ideating on potential technology solutions to be driven by a future venture. For this project, I conducted market research, performed stakeholder interviews, and created quantitative analyses such as market sizing and customer segmentations to support the creation of an end deliverable. During this internship, I worked closely with general partner and founder Bar Pereg to construct a research plan and move the innovation process forward.

During my internship, I was able to apply the skills I learned both in and outside of the classroom to make the most of my experience. The rigorous coursework associated with the core curriculum prepared me to tackle problems in a comprehensive manner, drawing on theories and concepts learned in the classroom to develop innovative solutions. Elective courses provided me with additional tools to produce quality and impactful work during the summer. When working through the venture-building process, I used the problem-solving framework from Foundations of Innovation, while the concepts from Capital Markets deepened my understanding of how capital flows in different sectors of the economy and why certain areas may receive more attention than others. This was particularly helpful, as PollyLabs focuses on purpose-driven organizations, and it was crucial to understand how these markets work to identify potential opportunities for disruption. Additionally, Strategies for Long-Term Growth provided me with the perspective and tools to better understand how companies make strategic decisions to influence their success. Outside of class, I actively participated in the Microlumbia Impact Fund, where I gained valuable experience in sourcing, analyzing businesses, and speaking with founders, which was also a key component of my work at PollyLabs.

I had a challenging but fulfilling experience working on various projects this summer. The venture-building process was particularly rewarding as it involved a lot of brainstorming new ideas and making decisions with limited or imperfect information. I had to conduct market research and interviews and analyze data from official sources to define our direction. At first, I felt overwhelmed because I wasn't sure how to begin. But thanks to Bar Pereg's guidance, I received the coaching and resources that helped me use a more systematic approach when confronted with ambiguous issues. The information and data I gathered through the process allowed me to make more confident and cogent decisions. With this support, I was able to present my ideas convincingly and assuredly for the project's future direction and I am excited to see what the next sprint will bring.

It was an incredibly invaluable experience to work at the intersection of social impact, business, and technology to help build a more inclusive and intuitive way to distribute capital and solve some of society's most pressing problems. Throughout the experience, I was able to learn new frameworks to approach problem-solving and decision-making, with special emphasis given to the importance of intention-setting and purpose before driving towards an initially unclear objective. With support from the Tamer Center for Social Enterprise and personalized management and mentorship from Bar, I was able to achieve my personal and professional goals and have a fulfilling MBA summer internship. Through this experience, I was able to gain personal clarity and a better understanding of the type of industry I'd like to work in. Professionally, I gained a fresh perspective regarding the type of job function in the venture/social impact sector where I can be most effective and add the most value to my team. PollyLabs created the ideal platform for me to experiment, apply what I've learned from my first year at Columbia Business School, and put me on a path for achieving my short- and long-term professional goals.