Rules for Participating Entrepreneurs

All entrepreneurs and members of entrepreneurial teams who participate in the Venture Track Mentor Program (“BizStarts Mentor Program”) of BizStarts Milwaukee Inc. (“BizStarts”) should understand and are expected to abide at all times by the following basic rules and principles (these “Rules”):

1. Entrepreneurs are expected to commit to a sustained relationship with BizStarts Mentor Program and to be professional, open and responsive to the volunteer advisors and other mentors who work with them. It is expected that the entrepreneur will be in meaningful contact with their advisors at a minimum of once every two weeks and will meet face-to-face at least once per two month period. Entrepreneurs should give a progress report to BizStarts once per month. During crucial times, contact may be daily and after mutual graduation, contact may drop to quarterly reviews. In addition, there must be mutual agreement that the relationship between the entrepreneur and the Bizstarts Mentor Program is mutually beneficial for the entrepreneur’s participation to continue.
2. Entrepreneurs are responsible for providing BizStarts, to the best of their ability, with accurate information regarding their venture, and for identifying any current or potential claims on, or liabilities of, their business. All identified proprietary information provided by entrepreneurs will be maintained in strict confidence by BizStarts and its volunteers.
3. Entrepreneurs must adhere to BizStarts’ policies and procedures which may be changed from time to time. BizStarts Mentor Program is a program of BizStarts and BizStarts sets the policies and procedures for each of these Programs.
4. Entrepreneurs desiring to participate in the Bizstarts Mentor Program must complete and sign the application documents provided by BizStarts from time to time, including an Application for Mentoring form, provide copies of their Resume and Executive Summary.
5. The Chairman of BizStarts and/or the managers of the Bizstarts Mentor Programs will review all applications and requests for assignment of an advisor. No advisor/entrepreneur relationship may be formed within BizStarts without an assignment by BizStarts.
6. A lead advisor in combination with a Program manager will be assigned to each approved entrepreneur or entrepreneurial team to arrange and oversee assignments and to monitor the advising process. Entrepreneurs are expected to notify BizStarts promptly to describe any problems or changes in their advising relationships, or to request replacement of an advisor or to gain assignment of additional advisors.
7. Prospective entrepreneurs should understand that any BizStarts advisor who enters into a financial, equity or other compensated business relationship with a BizStarts venture or entrepreneur must discontinue his or her position as an advisor to the entrepreneur and/or venture involved. This action, along with the proposed financial, equity or compensated business relationship, must be submitted to the Chairman of BizStarts and an authorized manager of the Program. In such cases, the Chairman or manager will notify the entrepreneur and assign a new advisor as appropriate.
8. No entrepreneur shall use his or her status or position with BizStarts to influence any decision regarding the disposition, licensing or sale of intellectual property.
9. With written permission from the Chairman or an authorized manager of the Program, entrepreneurs may include the BizStarts name and/or logo in their written business plan or company description, or mention BizStarts in their written fundraising presentations. BizStarts shall have the right to review and approve any such use of BizStarts’ name and/or logo. Names of individual advisors may be used if written permission is given by the individual.
10. BizStarts reserves the right to disassociate from any entrepreneur who fails to (i) comply with these Rules and/or BizStarts’ other policies and procedures provided from time to time, (ii) act in accordance with BizStarts’ principles, and/or (iii) diligently and in good faith pursue completion of the Bizstarts Mentor Program in the manner required by BizStarts.

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