This annual report from the Innovative Internship Program and Fund, aka the Virginia Talent + Opportunity Partnership (V-TOP) provides a comprehensive overview of the program’s progress in FY 2024 on internships and work-based learning outcomes. It includes the types and totals of students and employers, and it provides a detailed account of the program’s progress, current activities, and next steps.

As enacted during the 2023 legislative session, § 2.2-2037 stipulates and requires:

The Virginia Department of Workforce Development and Advancement and the State Council of Higher Education for Virginia shall jointly develop and implement strategies and collaborate with employers and higher education institutions to grow and expand the Innovative Internship Program established pursuant to § 23.1-903.4. The strategy shall include key measures of success, and they shall jointly develop an annual progress report that shall include information on the number of students placed in internship programs, the type of internship programs, and the number and type of participating employers. The report shall be delivered to the General Assembly, the Secretary of Education, and the Secretary of Labor annually by September 30.

The partnership between the State Council of Higher Education for Virginia (SCHEV), the Virginia Chamber Foundation, and the Virginia Business Higher Education Council (VBHEC) continues to focus on expanding paid and credit-bearing internship opportunities. V-TOP's mission aligns with Virginia's broader goals of increasing postsecondary credential attainment and fostering economic growth by preparing a skilled workforce.

Key highlights of the report include the continued increase in student participation in creditbearing internships, with 23,103 students completing these internships during the 2022-2023 academic year—a notable increase from previous years. Additionally, the report underscores the importance of addressing disparities in internship access.

Through grassroots outreach, V-TOP successfully engaged 149 employers, resulting in 83 students placed in internships across 20 Virginia institutions. Implementing a statewide staffing agency and matching grants to support small to midsize businesses has also been a pivotal strategy in expanding internship opportunities.

In the future, V-TOP is set to continue growing with new state funding to further expand paid internships. The program will prioritize scaling efforts across Virginia to ensure that every graduate from a four-year institution has access to at least one paid or credit-bearing internship. These initiatives will support the state's commitment to talent retention and economic prosperity for students.