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Do your own research on companies which are engaged in your area of interest and explore possibility of joining. Prepare data and background on companies engaged in your area of interest; develop your own outline with the help of professors. And then approach these companies and see if they will be willing to entertain you.
You can use your placement division to help you with this.

This is the most difficult and challenging route because you are on your own and seeking your dream project. A little help from seniors/alumni can help in reaching out.

The other approach is to look out for the corporate coming on campus for summer placements and start applying to them. However, you should thoroughly prepare details about the organisation before going for the interview. It is handy to brush up your concepts before you go for the interview because the organisation would like to test your theoretical understanding of the subject to deliver on the project.

The summer training interview can be as demanding as the final placement if the organisation is serious about the project work. Therefore, it's advisable to leave nothing to chance.

Stipend or No Stipend

Most organisations pay stipend for summer training and also bear the expenses borne while doing the project. Certain organisations might pay less while certain organisations pay more. This will depend on the organisation policy. However, payment is not the right yard-stick to judge whether the project is worthwhile or not.

Project Vs. Brand Name

What is more important - the project or the organisation?

The vote goes in favour of the project. If the project has meat, it can be a very strong learning platform for you. It does not matter whether the organisation has small brand name or a big banner. A good summer project which is relevant to the industry and contributes to the body of knowledge can be a strong selling and talking point during final placements.

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* Saurabh Kumar is MBA from Fore School of Management, New Delhi, and has experience in Sales & Marketing with Godfery Phillips India Ltd. & UB Group, and is currently working with ICICI Bank. His summer training report on rural distribution for HLL was published in Business Today, Business World and other business publications.