PROVIDENCE – Students will be paid to do research into technology startups as interns at the Slater Technology Fund, under a new program announced today by Slater Fund officials and the National Science Foundation’s Rhode Island Experimental Program to Stimulate Competitive Research (R.I. EPSCoR).

The EPSCoR Fellows Program will fund six internships per semester at the government-backed venture-capital fund. Students selected as fellows will be paid a $3,000 stipend.

The program – open to graduate and undergraduate students who attend Rhode Island colleges and universities – is now accepting applications for the 2009 spring semester. Completed EPSCoR Fellows applications must be filed by 4:30 p.m. on Dec. 31.

“The EPSCoR Fellows Program seeks to draw a next generation of participants into the field of entrepreneurship in life sciences by integrating students’ academic endeavors in university settings with hands-on experience in a commercial context,” the Slater Fund said in a news release.

“Students will actively engage in the process of venture development, interacting with scientists and researchers in academic labs as well as working closely with professionals in the venture capital community,” the statement continued. “A goal of the program is to better inform students of the career development options available within the life sciences research enterprise in Rhode Island.”

Richard G. Horan, senior managing director of the Slater Technology Fund, said the program is designed to encourage entrepreneurship in the local life sciences and biotechnology industries.

“Engaging a next generation of entrepreneurs into the life sciences research enterprise developing here in Rhode Island represents a terrific opportunity,” Horan said in a statement today.

“While a pilot-scale initiative at this stage, we are hopeful of leveraging follow-on funding from the NSF EPSCoR Program to establish the program as an ongoing option for students interested in pursuing careers in the life sciences industry.”

The NSF has been supporting R.I. EPSCoR since 2004, with federal funding commitments that have totaled more than $6.75 million.

The Rhode Island Experimental Program to Stimulate Competitive Research builds partnerships between state government, industry and institutions of higher education to create lasting improvement in Rhode Island’s research infrastructure and R&D competitiveness. Additional information – including applications for the EPSCoR Fellows Program – is available from the R.I. Science and Technology Advisory Council (STAC) at www.stac.ri.gov.

The Slater Technology Fund is a state-backed venture capital fund that invests in new companies committed to basing and building their businesses in Rhode Island. For more information, visit www.SlaterFund.com.