Elfman-Wareham Private Equity and Venture Capital Lab (PE/VC Lab)

International students (first year and second year in either F-1 or J-1 visa status) are eligible to participate in the PE/VC Lab but require Curricular Practical Training (CPT) or Academic Training (AT) employment authorization prior to beginning their internships. Please review the information below and consult the University of Chicago Office of International Affairs (OIA) website on CPT or AT authorization for additional details. The information below can also be accessed on this document if student desires a copy of guidelines.

The Polsky Center will require international student applicants to complete an attestation form to confirm they’ve met with OIA and will take the necessary steps outlined below to complete their CPT or AT.

If you are a full-time program student on an F-1 visa:

In order to intern with a firm through the PE/VC Lab, you will need CPT authorization approved before starting work. To obtain this authorization, you must:

• Request a “CPT employer letter” (template) from the firm
• Next complete the Work Authorization Recommendation Request Form.
• Submit the CPT recommendation form and CPT employer letter to the CPT Request.
• The process to obtain CPT authorization takes 1-2 weeks to be approved. You must receive your updated I-20 with CPT authorization before beginning your internship (including any “pre-work” training or orientations). If and when you receive an offer to intern with a firm through the PE/VC Lab, you should immediately begin the CPT authorization process and set your start date with the firm accordingly.
• CPT authorization allows you to intern with a PE/VC Lab firm for up to 20 hours per week for a maximum of 10 weeks between January 5, 2026, and June 6, 2026. You may not exceed the 20 hours per week or 10 weeks max, or you will be in violation of your visa status.
• You will be administratively enrolled in the required winter or spring quarter PE/VC Lab class in conjunction with your internship.

If you are a full-time program student on a J-1 visa:

In order to intern with a firm through the PE/VC Lab, you will need AT authorization approved before starting work. To obtain this authorization, you must:

• Request an “AT employment letter” (template) from the firm
• Complete the Work Authorization Request Form.
• Submit the completed and signed AT recommendation form and AT employment letter to the J-1 Academic Training Request.
• The process to obtain AT authorization takes 1-2 weeks to be approved. You must receive your updated DS-2019 with AT authorization before beginning your internship (including any“pre-work” training or orientations). If and when you receive an offer to intern with a firm through the PE/VC Lab, you should immediately begin the AT authorization process and set your start date with the firm accordingly.
• AT authorization allows you to intern with a PE/VC Lab firm for up to 20 hours per week for a maximum of 10 weeks between January 5, 2026, and June 6, 2026. You may not exceed the 20 hours per week or 10 weeks max, or you will be in violation of your visa status.
• You will be administratively enrolled in the required winter or spring quarter PE/VC Lab class in conjunction with your internship.
• Please note: AT used for PE/VC is deducted from the total amount of Academic Training (AT) time a J-1 student visa holder has available to them during the MBA program (18-months). For example: if you use 10-weeks of AT for PE/VC, you are eligible for 18-months minus 10 weeks of remaining AT while in or after completing your MBA.

With questions, please contact: 

• PE/VC Lab internship-related inquiries: Megan Fox (megan.fox@chicagobooth.edu) or Juliet Twomey (juliet.twomey@chicagobooth.edu)
• Academic planning-related inquiries: Academic Services(academicservices@lists.chicagobooth.edu)
• CPT/AT and visa-related inquiries: Kayla Smith (klsmith5@uchicago.edu)

As an international student, can I extend my internship beyond the required ten weeks, 15-20 hours per week?

No, students on an F-1/J-1 visa participating in the PE/VC Lab, may not extend their internship beyond ten weeks, 15-20 hours per week because the work authorization is only for when the student is enrolled in the PE/VC Lab course (the ten-week time period of the internship).

Can I start my internship before receiving CPT/AT work authorization?

No, you are only permitted to start interning with your firm when you receive your updated document with CPT/AT authorization. It is important to start the work authorization process as soon as your internship is confirmed, in order to receive your work authorization in a timely manner. OIA asks for 1-2 weeks from the date of request submission to authorize CPT/AT.

What if the firm I am interning with is not based in the United States, do I still need to acquire a CPT/AT work authorization?

It is recommended that even though your firm is not based in the United States, you should still apply to receive your CPT/AT authorization.

Do I need faculty approval from Professor Chris McGowan or Jason Heltzer on my work authorization paperwork?

No, Professor Chris McGowan or Jason Heltzer do not need to sign any of the CPT/AT work authorization paperwork. If you have questions about who needs to sign the paperwork, please reach out to Kayla Smith (klsmith5@uchicago.edu) in the Office of International Affairs.

When is the deadline for submitting my CPT/AT authorization for the winter quarter?

The university will be closed from December 25 – January 2, 2026. Students who intend to begin their internships the week of January 5 should submit their complete CPT request by December 15, 2025. Any submissions after that date should have a start date of January 12th or later.