The Subsidized Co-op Program was established in 2011 through the generous donation of Northeastern University alumnus John Hatsapolous (COE’59). The program provides a limited number of subsidies to selected startups each six-month co-op cycle.
Ventures are allocated a $9,000 subsidy, paid to the hired student by Northeastern University as a scholarship; the venture is required to match the $9,000 subsidy and directly pay the hired student through their regular payroll process. The student is to be hired as an employee, not as an independent contractor, freelancer, or consultant. The student does not receive benefits; however, any and all applicable taxes are to be withheld from their compensation.
One subsidy is awarded for one student per startup per co-op cycle; startups may receive a maximum of two subsidies as a beneficiary of the program.