The Tech Council of Maryland (TCM), in partnership with the Montgomery County Economic Development Corporation started a mentoring program in 2015 to help the technology and life sciences community, called the Tech Council of Maryland Venture Mentoring Service (TCM VMS). The program is based on a team mentoring approach modeled after the highly-successful MIT Venture Mentoring Service and provides active and specially tailored mentoring services in teams catering to the specific needs of each accepted company.
The companies must have a nexus to Maryland tech and life sciences sectors and a demonstrated proof of concept for their respective product or service. TCM VMS is particularly interested in serving companies that are preparing for their first venture or institutional financing, as there is a perceived gap in resources for companies at this development stage.
The TCM VMS program engages highly qualified volunteer mentors with experience relevant to early stage companies and who are committed to providing advice in a team mentoring setting. Mentors receive special training on the MIT team mentoring model in addition to careful vetting of their expertise.
Mentor teams and Mentee Company CEO’s, once paired, meet regularly at the request of the CEO to assess issues and to assist in developing growth oriented solutions for the company. Team Mentors also meet monthly to share their mentoring experiences and to take advantage of the expanded networks and expertise which the larger cadre of mentors represents. These monthly meetings also have the advantage of giving the mentors access to new contacts.
The MIT model has been adopted in over 60 communities worldwide because the results are stunning. Companies thrive…grow faster, attract more funding, earn more revenue and create more jobs with this program, which is becoming a foundational component of this area’s ecosystem.
Current Status: The TCM VMS is preparing for its fifth training program for volunteer mentors in October, 2016, bringing the total number of trained volunteers to over 40. In this pilot year of operation, the program is already serving 10 Maryland-based companies with teams of mentors.
Contact: The Tech Council of Maryland Venture Mentor Services is a program of the Tech Council of Maryland. For more information on the TCM VMS program, see http://www.techcouncilmd.com/careers/mentor-opportunities.php.