![]() ![]() Mentors are limited to no more than three protégés at a time. ![]() Address how the mentor will help the protégé firm meet its goalsįor the MPA to be approved by the SBA, the mentor firm must be in good standing and have the ability to add value to the smaller firm either through experience or knowledge of a relevant business area or of government contracting.Provide a description and timeline for mentor- provided assistance.The next step is to create a Mentor-Protégé Agreement (“MPA”), which is a written, legal document that details the business relationship between the mentor and the protégé. The first and most critical step is finding the right partner-a partner that you will work well with for many years ahead. Success starts long before a contract is won. The Steps Involved with Establishing a Mentor-Protégé Joint Venture To avoid this, it’s critical that each party is on the same page from the start-agreeing on how they are going to work together, and who’s going to provide what support.Īlthough Joint Ventures is an exciting area of the government contracts market, this complicated area needs to be handled with care. “Part of the problem we see is when the joint venture isn’t operating like a true partnership,” she added. ![]() Mentors have access to small business contracting opportunities that they wouldn’t have otherwise, and protégé companies gain the ability to expand their business and compete for contracts that would typically be out of reach.īut that doesn’t always happen. Interest in these types of partnerships is on the rise for good reason: there’s potential upside for all parties involved. The Risks (and Rewards) of Mentor-Protégé Joint Ventures The purpose of both sessions was to educate participants about mentor-protégé programs and joint ventures – including covering several recent rule changes-and answering questions with the end-goal of helping companies be more successful when using these arrangements to bid on and manage government contracts.
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