Mentoring [Part 1] a Pathways to Innovation Webinar 1 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Goal….  Define your mentor needs  Select the right mentoring system  Learn mentor recruitment sources  Understand mentor outreach approaches and vetting 2 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Premise for today Successful mentorship: Fits the needs of your specific program. Starts from casting a wide net, then narrowing. Gets people to say yes, over and over again. 3 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Mentorship Program Types Educational: can be class or cohort Programs (like I-Corps ): cohort > class Places: Incubator, Accelerator, Etc. Institutional (Tech Transfer, etc.): EIR, MIR Business and Commercial Situations Etc. 4 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Connection Modes Assignment: connect one or more Mentors to a person or team to see if they are compatible. Often undergraduate educational situations. Self-connect: cohort of Mentors, with their skills and connections visible, that Mentees can interact with. Best in incubators/accelerators 5 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Types of Mentor Assignments Project or Program: Creates an ongoing connection with varied assignment length, typically multi-week like a capstone class, etc. Short term: Also an ongoing connection, but for a few weeks at most Drop-in Connect once or a few times for domain specific advice, to solve a specific problem or help with a connection 6 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Mentor characteristics always based on the program type and need Don’t always need to be deeply technical Overall quality is more important: Prior and appropriate Mentoring assignments Some basic understanding of given tech or industry Tech transfer, angels, economic development, consultants – not always best fit Be wary of people with title/job, but no relevant experiences Coachable, will learn about the program and do what is needed. Much more than war stories….. 7 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Good communicator Can lead a team from behind, not looking for the spotlight Understands the curriculum and goals of the course Tech insight, specific skills, expertise as required Industrial experience as required Connections, always – Personal, industry group, specific company, etc. Venture Creation and Acceleration Experience ( ! ! ) – Startup ( ! ! ) – C-suite – Consulting – Money raising – Etc. 8 Specific Mentor Characteristics Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

YOU must show the mentor the value: It is fun, or “give back” (this only go so far…) Create closer ties with world-class University and faculty Be involved with a cutting edge new technology/pipeline Possibility to join startup team Sharpen technical knowledge base in a vertical area Make contacts, and increase personal network with other Mentors, the teaching team, domain experts, VCs and Investors, etc. Learn something new 9 Benefits of Mentoring Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Outreach plan Connect with the benefits first More details after reply 3.5 impressions with varied messages/new information Different subject lines: Call to action Benefit list Basic program info Promote what it is: Join an elite group Provide high level input, etc. 10 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Where to find Mentor candidates Cast a wide net There are lists everywhere! Specific source areas: Tech Transfer Offices and EIRs / MIRs within institution Business Engagement / Sponsored Research Other Incubators / Accelerators / Programs: their mentors, speakers, judges, panelists, etc. Economic Development Agencies – Local, Regional and State Programs and Competitions – Judges, Panelists, Speakers, etc. Angel Investor Groups VCs - Partners, Board Members, Advisors, Investors Local Consulting Groups, Trade Groups and Associations 11 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

After their initial reply Ask them to fill out form so you can gather info about them, and resume / CV Have info ready to give them - Programs, timing, etc. Meet and talk!!! – Be interested in them as a person. Say “tell me a little about you” and see where they go. See if they’ve done a startup, are domain experts, etc. 12 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Expectations for Mentors Extension of the teaching team or director of the particular program: Commitment to the assignment, learn the process and goals Understand the materials and methods Meet regularly and establish guidelines, expectations and deliverables Bring real world “how to” experience and advice to help move the project along Ready to challenge the team as to whether they really have something good, or something to shut off and move on from Learn enough about tech/product/service and it’s potential market to provide valuable input While not required to sign a formal Non-Disclosure Agreement, respect the mentee’s work and keep it in confidence 13 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Ideal Mentor Understands the in’s and out’s of the business model and helps teams: Do customer discovery Pivot when needed Show gaps in business, and helps create solutions Understand tech is not in vacuum – but rather dynamic marketplace Work really begins after the program is over, and shows teams how to navigate 14 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist

Q & A and Resources More info from Norm at What have we missed and can improve? Please share your experiences/lessons learned Resources: Handbooks - Mentor and Mentee Sample outreach s 15 Norman Rapino PhD MBA University of Michigan Center For Entrepreneurship Director of Mentoring & I-Corps Network Specialist