Venture Track Mentoring Program

One of the most beneficial aspects of the Venture Track Program is the Venture Track Mentoring Program (VTMP). In the VTMP advisors, from diverse and successful backgrounds, share their expertise and experience with Venture Track companies. Throughout the process, the Venture Track companies are enriched and strengthened.

BizStarts Venture Track Mentoring  Program

BizStarts Milwaukee (BSM) believes that a start-up venture is more likely to thrive when supported by multiple advisors with proven skills and experience. BSM created the Venture Track Mentoring Program to fill that need.

VTMP services are planned and supervised by a volunteer Chairman and BSM Management.  VTMP expects to focus its limited initial resources on selected ventures that demonstrate innovative high-growth potential within the Milwaukee County M7 region. For this reason, appropriate matches may not be available for every prospective entrepreneur.

VTMP services are offered free of charge to all qualifying ventures.

Entrepreneurs

Who is eligible to participate?

Entrepreneurs who are committed to starting a high growth innovative company and understand the requirements of the program. Applicants to this program must have completed an initial business plan and meet the Venture Track criteria.

How do I apply?

Prospective entrepreneurs complete and submit an application to the Venture Track program. This application can be accessed at Rules for Participating Entrepreneurs  or by contacting the BizStarts Venture Track team.  

Applicants will be accepted into the program based on VTMP management's assessment of the ability of BSM to promote success within its available resources. 

How are matches made?

The formation of a relationship between advisors and an entrepreneur is purely voluntary. Though VTMP management is responsible for matching appropriate advisors and entrepreneurs, the decision to form a relationship remains with the prospective mentor and entrepreneur.

How does the process work?

Once a team relationship is formed, a member of the VTMP management monitors the progress of the relationship through reports from the lead advisor and entrepreneur.

As the emerging venture develops, its' needs may change. The manager and lead advisor are available for further guidance and assignment of new or additional team members when appropriate.

It is important for participating entrepreneurs to realize that VTMP services are educational only. All business decisions remain under the full control of you, the participating entrepreneur. In other words, we are here to help; but we cannot do it for you.

Are there rules VTMP entrepreneurs must follow?

VTMP entrepreneurs are expected to commit to a sustained relationship with BSM and to be professional, open and responsive to the volunteer advisors who work with them. The entrepreneurs are also expected to provide BSM, to the best of their ability, with accurate information about their venture.

In addition to abiding by BSM policies, VTMP entrepreneurs are asked to agree, in writing, to abide by the specific rules governing them described in the VTMP Rules for Participating Entrepreneurs.

                                                                                                                           Advisors

BSM advisors are volunteers who want to share the skills and knowledge they have gained in creating and guiding successful new ventures. Their careers represent a wide range of technical expertise, experience and industry knowledge.

Advisors are recruited not only for their skills as mentors but also for their enthusiasm for the program.

What is the advisor's role?

Since each venture is unique, the nature, extent and time frame of the VTMP advising process is largely determined on a case-by-case basis.  In general, however, BSM sees the advising process as an ongoing educational relationship, requiring a minimum of 8 hours or one day per month.

VTMP advisors are responsible for abiding by, and reporting issues involving, the policies, rules and directives of BSM.  Most importantly, advisors may not accept any financial involvement with a venture either for themselves or for a related party without notifying the BSM management 30 days in advance including the proposed financial/equity arrangement for BSM review.

How does the Group Coordinate?

The success of a venture relies heavily on the tenacity of an entrepreneur. Entrepreneurs must take responsibility for getting what they need from the team they are assigned. Each team has one lead advisor, acting as chair or facilitator at meetings, helping to defining a venture's needs, maintaining regular contact with the venture, and keeping the VTMP staff abreast of significant developments or problems within the team relationship.

Being a lead advisor requires considerable depth and range of experience in building a business, an aptitude for advising, a strong desire to help, and commitment to the venture.

Note: Advisors with relevant skills, experience or time may not be available for every prospective venture or entrepreneur. Also, all identified proprietary information provided by applicants will be kept strictly confidential by BSM.

What if I have questions?

Feel free to talk to anyone on the BizStarts Milwaukee staff.

Contact Information