The mentor-protege program should be a boost to a small business’s development that enables the small business to independently perform larger and more complex contracts in the future. SBA had a well-established mentor protégé program for SBA 8(a) certified firms but lacked an MPP program for other small business concerns and specifically, one for specialized certified concerns such as WOSB, SDVOB, & HUBZone businesses. Just like the longstanding and popular 8(a) mentor-protege program, the new small business mentor-protege program creates a framework under which mentor firms will provide a wide variety of potential benefits to their proteges. Authorization - 2010 Jobs Act and 2013 NDAA.
Mentors are encouraged to provide assistance relating to the performance of contracts set aside or reserved for small business so that protege firms may more fully develop their capabilities. This assistance may include technical and/or management assistance financial assistance in the form of equity investments and/or loans subcontracts (either from the mentor to the protege or from the protege to the mentor) trade education and/or assistance in performing prime contracts with the Government through joint venture arrangements. The small business mentor-protege program is designed to enhance the capabilities of protege firms by requiring approved mentors to provide business development assistance to protege firms and to improve the protege firms’ ability to successfully compete for federal contracts. One of SBAs top priorities is to ensure that the benefits of its. If you’re not familiar with the program, here’s a brief description from the Small Business Adminstration: Through mentor-protege programs, small businesses are able to receive a broad array of.
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