Graduate programs at startups?

Yesterday we launched a pilot event of an idea me an a friend had to introduce university students to startups (and vice versa) in Cape Town, with the intention of sending them on internships. We were amazed at how much of an eye-opener this was for the students, not realising such companies existed locally. It was also just as much an eye-opener for the companies, who previously struggled to get in touch with local students and now got a chance to see how good the local talent pool is. Most of the talent would in the past either a) go overseas, b) change field, or c) work for a big evil corporate.

My question for HN: Have their been similar things happening elsewhere that we can get some ideas from? We have in mind to (in the distance) trial an exchange program between Cape Town and Silicon Valley or somewhere else. We really have some top-notch companies that we believe people over there would be excited to work for, e.g. Nimbula, ThoughtExpress, Quirk, Praekelt and Motribe were the ones we had yesterday and all are awesome.