As a Minority Business Enterprise (MBE), Mindlance recognizes the importance of supporting our clients’ diversity goals. Mindlance also recognizes our responsibility to advocate for the minority business community. To that end, the Mindlance Mentor-Protégé (MMPP) program engages, nurtures, and provides opportunities to qualified M/WBE suppliers.
Mindlance Mentor-Protégé Program (MMPP) enhances the capability of disadvantaged (small and/or diverse) firms to compete more successfully for business. This is a business development initiative that helps socially and economically disadvantaged firms gain access to economic opportunity. The program has provided an avenue for disadvantaged firms to achieve entrepreneurial success and contribute to the strength and vigor of our economy. Mindlance provides technical and management assistance, subcontract support, and assistance in performing prime contracts through partnering arrangements. In addition, Mindlance supports a protégé through lessons learned and practical experience gained from successfully competing in the business world.
Benefits of MMPP
Under our Mindlance Mentor-Protégé Program, protégés can gain several of the following benefits:
- Technical and management assistance: Mindlance’s expertise, resources, and capabilities are made available to the protégé.
- Joint bidding and/or project execution: Mindlance can enter into joint-venture arrangements with protégés to compete for government contracts.
- Offerings of subcontracts: Mindlance can assist protégé with business opportunity by inviting them to participate on projects which are won by Mindlance
- Assistance in the performance of contracts already won by Protégé
- Financial assistance in the form of equity: Mindlance can own equity interest of up to 49% in a protégé firm by providing seed or early stage capital, and help protégé raise additional capital
Requirements of Becoming A Protégé
The protégé must meet the following requirements to participate in the program:
- Must be offering services similar or complementary to Mindlance and within geographies where Mindlance operates
- Must have a size of less than half the size standard for a small business as defined by the primary SIC code
- Must not have only one mentor at a time.
- Must have an intent to participate in the program for one year
At the initiation of the relationship, Mindlance and Protégé firm jointly draft a Program Scope Document which, in writing, sets forth the Protégé’s needs and describing the assistance Mindlance is committed to provide to address those needs. These include:
- Management, financial and/or technical assistance, equity investments, cooperation on joint venture projects, or subcontracts under prime contracts being performed by Mindlance.
- Commitment of such assistance to the Protégé firm for at least one year.