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Internship Stipend

Terms & Conditions

Effective Date: 3/20/2026
Program Sponsor: API LLC (“API”)

1. Eligibility to Participate in the Capstone AI Project as part of the program: Launch AI Austin: Where Innovation Meets Real-World Impact

Students are eligible to participate in the Capstone project if they:

  • Apply for the program: Launch AI Austin: Where Innovation Meets Real-World Impact on or after March 23, 2026 for the summer of 2026;
  • Are officially placed in and actively participate in the afore mentioned program;
  • Remain in good academic, professional, and disciplinary standing with API, our housing providers, and the programs guest speakers; and
  • Are formally approved to participate in the AI Capstone program by API.

Participation in the AI Capstone is optional and separate from internship program placement.

2. Stipend Requirements

To qualify for the Stipend, students must:

  • Complete all required capstone assignments, deliverables, and milestones;
  • Submit final materials by the stated deadline;
  • Meet the quality standards and evaluation criteria established by API;
  • Participate in any required presentations, reflections, or assessments;
  • Comply with all academic integrity and program policies.

All requirements will be communicated in writing at the start of the capstone.

3. Stipend Payment Conditions

The $1,000 Stipend:

  • Is payable only upon full and satisfactory completion of all capstone requirements, as determined solely by API;
  • Will not be prorated for partial completion;
  • Will not be paid if the student withdraws, is dismissed, fails to meet deadlines, or submits incomplete or unsatisfactory work;
  • May be subject to applicable tax reporting and withholding requirements.

Students are solely responsible for any tax obligations arising from receipt of the Stipend.

4. Jurisdictional Limitations

The Stipend is offered only where permitted by applicable local, state, federal, and international laws.

API reserves the right to:

  • Modify the structure of the Stipend (including converting the Stipend to a scholarship, award, reimbursement, or alternative benefit);
  • Substitute a non-monetary benefit of comparable value;
  • Withhold payment where providing a monetary stipend would violate applicable laws, regulations, visa conditions, institutional rules, or other restrictions.

Eligibility may vary by country, state, institution, or visa status.

5. No Employment Relationship

Participation in the AI Capstone and receipt of the Stipend:

  • Does not create an employment relationship between the student and API;
  • Does not entitle the student to wages, benefits, or continued engagement;
  • Does not alter the student’s status as an intern.

The Stipend is not intended to be compensation for employment services but a conditional program award tied to successful academic/project completion.

6. Academic and Institutional Compliance

Each student is responsible for confirming that participation in the Capstone and acceptance of the Stipend:

  • Complies with their university’s policies, and
  • Does not violate financial aid conditions, and
  • Is permitted under their visa or immigration status (if applicable).

API is not responsible for institutional or visa-related restrictions that prevent a student from receiving the Stipend.

7. Program Modifications or Cancellation

API reserves the right to:

  • Modify capstone requirements, timelines, or structure;
  • Adjust the amount or format of the Stipend;
  • Suspend or discontinue the Stipend program at any time;
  • Deny or revoke eligibility in cases of misconduct, policy violations, misrepresentation, or academic dishonesty.

8. Force Majeure

API shall not be liable for failure or delay in performance due to circumstances beyond its reasonable control, including but not limited to government restrictions, regulatory changes, public health emergencies, institutional decisions, or international compliance limitations.

9. Acceptance of Terms

By enrolling in the AI Capstone Program, the undersigned student acknowledges and agrees to these Terms & Conditions.