mentoring + money = success

A winning formulae for early-stage technology companies includes mentoring says NESTA mentor, Alan Edwards.

In his recent article on the NESTA website, Alan very wisely talks about how entrepreneurs (and those who investment in them) should make sure they have mentors who are able to provide advice on the basic elements of running a business but who also have sector specific knowledge.

He goes on to explain that given seed funding, early stage businesses have a limited time before that money runs out. To get another round of funding, they have to prove that they have achieved their year-one objectives and are capable of managing any resources awarded to them. All of this on top of coping with the fundamental issues of starting a business. Mentors can help with making judgement calls - helping to ensure that the business remains focused and on track.

But where do you find a mentor? Hopefully the below links will be a starting point in your search...

NESTA have a network of over 200 mentors to provide expert business advice

The Unit is a business incubator centre in Leeds that provides it client businesses with a pool of mentors

Forward Ladies is a business Womens' network and support group with a mentoring scheme

Mentor Bank run by South Yorkshire Investment Fund and has over 450 mentors

Wisdombank