Standards of Behavior
Agreement among MIT Enterprise Forum of Cambridge Mentors and Entrepreneurs
GUIDING PRINCIPLES - to be formally acknowledged by all parties
The Mentor Matching Service is offered without charge to MIT Enterprise Forum of Cambridge Members who are entrepreneurs, typically in tech sector companies.
A mentor team will typically consist of 2 individuals.
All parties, including Enterprise Forum Staff, Committee Volunteers and Mentors shall maintain strict confidentiality over any proprietary information entrusted to them by an Entrepreneur/Mentee. All information and advice generated or received in connection with mentoring activities is presumed to be confidential and should be treated as such. The Entrepreneur/Mentee alone determines whether to make a disclosure of confidential information.
Mentors serve on a voluntary basis as requested by those seeking help and must be current paid Members or Sponsors of the MIT Enterprise Forum of Cambridge.
Mentors may not have any relationship with an Enterprise Forum Entrepreneur where there is any form of compensation or equity. No Mentor associated with the Enterprise Forum Mentor Smart Program may accept or discuss a financial interest or relationship with an Entrepreneur/Mentee (hereafter "Mentee") without first formally recusing himself or herself as a Mentor with 30 days advance notice. Only the Mentee may request/initiate this relationship, not the Mentor.
- The Mentor may not receive any compensation from a venture that he or she is mentoring.
- If a Mentee approaches a Mentor, and the Mentor has any possible interest, the Mentor must immediately notify the office and recuse him- or herself from further mentoring activities with the Mentee
MIT Enterprise Forum Mentors must disclose to the Program Chair any potential known secondary conflict of interest where success or failure of a Mentee which he or she assists or oversees would potentially have material impact.
Mentors are volunteers with relevant expertise in business formation, management, or technical fields, who wish to mentor entrepreneurs in general and/or specific areas. Prospective Mentors complete a questionnaire so that the Mentor Program volunteers may identify suitable matches. The requested information is intended to be helpful in finding the best match; however, this information neither guarantees nor precludes a match.
Mentors are contacted regarding the desirability of forming a relationship with a Mentee and are free to decide whether to accept an assignment.
Mentors agree to provide a minimum of 2 to 3 hours per month for 12 months. Mentors have a monthly opportunity to provide an update to the Program to ensure mutual benefit is ongoing.
Mentors are expected to take an interest in their Mentee and his or her success; and to get to know the Mentee's needs, including personal situations. They are expected to strive to develop a personal and trusted relationship.
Mentors provide advice, guidance, troubleshooting and support. They are not an active team member nor an employee of the Mentee. Mentors do not "do". Mentors provide frank, unbiased and constructive consultation. They may provide connections at their discretion. However, they are not charged with finding investors for the company.
Entrepreneurs and Mentees
Entrepreneurs are those persons:
- With innovations, business plans, or a desire to start or develop a venture, and
- Who wish to form a mentoring relationship with the MIT Enterprise Forum of Cambridge to pursue development of a business.
Entrepreneurs who wish to become Mentees complete a questionnaire to provide accurate information about their venture that includes identifying any current or potential claims against, or liabilities of, their business.
MIT Enterprise Forum Mentor Smart Mentees are expected to commit to a sustained relationship with Mentors and to be professional, open and responsive to the volunteer Mentors who work with them. Mentees are expected to commit to, take actions and be prepared for the meetings in recognition of the fact that it is their company.
Mentees will keep and provide notes, be timely for appointments, and listen openly and carefully.
Mentees set the schedule and agendas for all meetings between themselves and the Mentors. Mentees are expected to meet with their Mentors at an appropriate frequency (biweekly is recommended). Mentees have a biweekly opportunity to provide an update to the Program to ensure mutual benefit is ongoing.
Mentees should inform the Office immediately if they wish to form a financial relationship with anyone on their Mentor team. That Mentor will be replaced immediately. Mentees should also inform the Office immediately if any Mentor approaches them about establishing any form of financial relationship.
- Mentees are responsible for providing accurate information regarding their venture, and for identifying any current or potential claims on, or liabilities of, their business.
- Mentees should expect that their business concept, strategy, business plan and investor pitch will receive great scrutiny and benefit tremendously.
We reserve the right to deny service to anyone not complying with the rules of engagement.