BizStarts Venture Track Mentor Program-Statement of Principles

Organizational Statement

The Venture Track Mentor Program (the “Program”) of BizStarts Milwaukee Inc. (“BizStarts”) consists of volunteer advisors, who are supported in their role by seasoned volunteer members of the corporate and entrepreneur community. Advisors are selected for their experience in areas relevant to the needs of new entrepreneurs and for their enthusiasm for the Program. Relationships between advisors and entrepreneurs are formed based on the needs and preferences of the entrepreneur and the interests of the available advisors.

Guiding Principles

Advisors participating in the Program recognize that the promotion of the goals of BizStarts and the Program requires careful adherence to principles that, at their heart, put the interests of the community and of the entrepreneurs ahead of the volunteers and staff serving BizStarts and the Program.

1. Advisors and managers of the Program shall be responsible, first and foremost, for promoting the best interests of entrepreneurs who have formed a relationship with the Program.
2. The resources of the Program shall be made available without regard to gender, race, religion, color, national origin or sexual orientation.
3. The Chairman of BizStarts and managers of BizStarts Venture Track Mentoring Program shall oversee the formation of each relationship between advisors and entrepreneurs.
4. Recommendations of advisors to entrepreneurs shall be based solely on the needs of the entrepreneur and the best available advisor for the needs identified.
5. Advisors and the managers of the Program shall maintain strict confidentiality over any identified proprietary information entrusted to them by BizStarts entrepreneurs, and will be used solely to facilitate participation in the Program and BizStarts’ other projects, programs and services, if applicable. All information (including the identity of potential investors) and advice generated or received in connection with the Program is presumed to be proprietary and confidential and should be treated as such. The entrepreneur alone determines whether to make a disclosure of confidential information.
6. No advisor associated with the Program may accept, for himself or herself, or any related party, (i) a primary financial interest or (ii) any other financial relationship, with a venture associated with the Program without first formally recusing himself or herself, with 30 days advance written notice to an authorized representative of BizStarts, from their role as a BizStarts mentor with respect to that venture. In addition, in connection with any recusal, the advisor and entrepreneur will provide any disclosure document and release to BizStarts which BizStarts may reasonably request.
7. BizStarts and its' advisors serve on a voluntary basis as requested by those seeking help. It is possible that advisors may be asked to serve ventures that are potential competitors. When the advisor becomes aware of a potential conflict, both parties will be informed in writing of the conflict. If the second party wishes to seek help, the second party will be assigned a separate advisor.
8. No advisor or managers or any related party may invest in any BizStarts venture, or be so invested, without first recusing themselves from the advising relationship in accordance with the procedures described above.
9. Advisors must disclose to the Program in writing any potential known secondary conflict of interest, where success or failure of a BizStarts venture, with which they assist or oversee, could potentially have a material impact on any entity in which that person or related party is invested or is a principal or for which such a close relationship is contemplated. In such cases, separation from the Program or from the venture may be the remedy chosen if the Chairman of BizStarts or managers of the Program deems the conflict substantive.
10. BizStarts Advisors does not provide recommendations or valuations to potential investors regarding purchase or sale of BizStarts ventures.
11. Advisors provide mentoring services in connection with the Program without compensation, direct or indirect, from the mentored venture or BizStarts. Any arrangement for compensation, due to excessive time investment of an advisor or otherwise, is subject to the recusal provisions herein.

Continue to the BizStarts Mentors Questionnaire