How many protege can a mentor have?
Generally, a mentor will have no more than one protégé at a time, but the SBA may authorize mentors to have more than one protégé at a time “where it can demonstrate that additional mentor-protégé relationship will not adversely affect the development of either protégé firm.”34 Mentors cannot, under any circumstances.
How long does a mentor protege agreement last?
six years
A Mentor-Protégé Agreement may last up to six years from the date of SBA approval. If the initial mentor-protégé agreement is for less than six years, it may be extended by mutual agreement and notification to SBA prior to the expiration date.
What is a SBA mentor Protege?
The SBA MPP helps eligible small businesses (protégés) gain capacity and win government contracts through partnerships with more experienced companies that are willing to fill the mentor role. SBA MPP Qualifications. As a protégé, you must: • Be a small business with industry experience.
What is a mentor protege agreement?
The Mentor-Protégé program is designed to motivate and encourage large business prime contractor firms to provide mutually beneficial developmental assistance to small business, veteran-owned small business, service-disabled veteran-owned small business, HUBZone small business, small disadvantaged business, and women- …
What do you call someone you are mentoring?
Definition of mentee : one who is being mentored : protégé nearly all the mentees opted to remain in the sciences— Sally Rubenstone.
How long does it take SBA to approve Mentor-Protege Agreement?
between 60 and 90 days
SBA reports that 8(a) mentor-protégé agreements took between 60 and 90 days for approval, whereas the average time for approval through the All Small Mentor-Protégé Program is about 20 working days.
How long does it take for SBA to approve Mentor-Protege?
As in, 105 days. Unfortunately, that’s no typo. If you’re looking to establish an SBA-approved mentor-protege relationship, you better be willing to wait more than three months for your application to be approved.
What is all small Mentor-Protege Program?
The All Small Mentor-Protégé Program (ASMPP) was established in 2016 to extend SBA approved mentor-protégé relationships to every small business. This new program was modeled after the successful SBA 8(a) Mentor-Protégé Program.
What is a mentor-protege joint venture?
In addition, the mentor-protégé joint venture rule allows the mentor in a joint venture to perform up to 60% of the work that the joint venture performs. That rule requires “the small business partner to the joint venture must perform at least 40% of the work performed by the joint venture.”
What are the mentoring benefits for the protege?
The benefits to a protégé can include learning about the museum field, improving their strengths, expanding their network, and having experiences that may lead to future career opportunities. A mentor has the benefits of feeling valuable and giving back to their profession.
What is all small Mentor Protege Program?
What is the purpose of the SBA 8 ( a ) Mentor Protege Program?
Please review the full and complete requirements for the SBA 8 (a) Mentor Protégé Program (review SBA regulations 13 CFR 124.520) The purpose of the 8 (a) BD Mentor-Protégé relationship is to: Improve the protégé’s ability to successfully compete for contracts. The mentor’s expertise, resources, and capabilities are made available to the protégé.
What can a mentor do for a protege?
Mentors can enter into joint-venture arrangements with protégés to compete for, and perform on, certain federal government contracts. Financial assistance in the form of equity and/or loans Mentors can own up to 40% in of the protégé to help it raise capital. Eligibility and How to Enter the 8 (a) BD Mentor-Protégé Program
How to qualify for the 8 ( a ) protege program?
The regulations governing the 8 (a) Mentor-Protégé program are set forth in 13 CFR 124.520. In order to qualify as a protégé, a business must: Already be enrolled in the 8 (a) program and be in good standing Be less than half the size of the small business size standard corresponding to its primary NAICS code
Is the SBA’s Mentor-Protege Program merged into the MPP?
Government agencies reserve contracts for small businesses that are certified in the SBA’s contracting programs. As of November 16, 2020, the 8 (a) Mentor-Protégé program and the All Small Mentor-Protégé program have merged into one program called SBA’s Mentor-Protégé Program (MPP). The ruling can be found in the Federal Register.