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SBA Launches Mentorship Program For Startups

Written by Ken Gaebler
Published: 2/18/2011

The U.S. Small Business Administration has launched a new program connecting startups to experienced business professionals.

The current economic climate is not the most encouraging for entrepreneurs looking to launch a new venture. However, a recent piece of small business startup news may help them find success.

Entrepreneur New Business Potential

This week, the U.S. Small Business Administration announced that it is launching an initiative to provide new startups and entrepreneurs with mentors from the "current generation of successful business owners."

The new program, called the Entrepreneurial Mentor Corps, will work with the Ewing Marion Kauffman Foundation to identify organizations and develop a set of "best mentoring practices."

"Who better for entrepreneurs and startups to learn from than individuals who have been down a similar path before," SBA Administrator Karen Mills said. "Mentors can provide valuable insights critical to their success; from opportunities for financing, advice on hiring to even walking an entrepreneur through steps for taking a product or idea into the commercial market."

Already, the SBA has identified four business accelerators in the San Jose area to receive $500,000 in funding as part of the project, the San Jose Business Journal reports.

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