Startup India Foundation is a not-for-profit non-governmental organisation founded by a group of entrepreneurs to support the first time entrepreneurs, especially from smaller towns, to successfully build their startups. This support is provided by arranging no-nonsense startup events and initiatives to support the entrepreneurs with mentoring, advice, training and other assistance.
India is now the 3rd largest startup hub with thousands of early-stage startups. More than 90% of these startups are done by first-time entrepreneurs where having access to experienced mentors can make the difference between being successful or shutting down.
Introducing Give me 5 – a Startup Mentoring initiative of Startup India Foundation.
Give me 5 is the way for successful entrepreneurs, investors and experts to give back to the Indian Startup Ecosystem by donating 5 hours of their time every month to Startup India Foundation’s mentoring bank. These mentoring hours are in turn is made available to early-stage entrepreneurs or those aspiring to be entrepreneurs through this structured mentoring program.
The “Mentors Directory” section lists all the mentors with their detailed profiles and areas of expertise. Each mentor has indicated 3-5 top areas that they prefer mentoring entrepreneurs on. The matching between mentee and mentor will be done based on these parameters. The entrepreneur will be able to browse through the profiles and areas of expertise of the mentors on Startup India Foundation website and select the ones they would like to be mentored by.
To make it affordable to even entrepreneurs who are bootstrapping, Startup India Foundation will charge a fee of Rs. 2000-2500 for every hour of mentoring. All mentoring time will be counted in units of a single hour (for example, a 1 hour 15 mins session will be counted as two hours – one hour is the minimum).
This mentoring can be done via face-to-face meetings, skype or phone call at a mutually convenient time – as decided by the mentor and mentee mutually.
The entire mentoring process will be coordinated by Startup India Foundation. All the money raised through this initiative will be used to support the startup ecosystem development initiatives.
– The mentors are experts and willing to help but are busy with their own work too. So it may take time for them to slot the mentoring hours in their calendar. So be patient.
– Mentor will reserve the right to mentor a particular entrepreneur or not.
– Mentor and mentee will have the right to engage with each other in any other capacity post their mentoring interaction.
There are multiple options to access mentoring – ranging from 1 or 2 hour pass to a bulk 5 hours pass. There is also a Special Full Day pass for incubators. You can buy your mentoring pass below!
Q1. How many hours can I buy?
A1. You can buy as many hours as you need. However, we suggest you start with a one hour or two-hour mentoring pass and see how it goes for you. If you are happy with the mentoring you get, you can buy more (even five hours mentoring pass)
Q2. Can I split the one hour mentoring that I have paid for among multiple mentors?
A2. NO, you can’t split one hour into multiple mentors. The basic unit we use to count usage of mentoring hours is one hour. So if you have already used say 30 mins of the one hour with one mentor, then that hour is counted as consumed.
Q3. Can I split the one hour I bought with the same mentor for multiple smaller meetings?
A3. No, that would not be possible and is avoidable too. It becomes too much to track and coordinate parts of the hour in multiple sessions. One session, one hour or less in duration, will be counted as one complete hour consumed. So its advisable to do your homework on what you want to talk about, what advice you need etc. before the session and be as specific as possible. However, in case of the special Incubator Full Day Pass, this is allowed as the mentor will be available for face-to-face mentoring of all entrepreneurs nominated by incubator.
Q4. If I buy multiple hours of the mentoring pass, can I use it with multiple mentors?
A4. Yes, you can (as long as the minimum one hour counted rule is followed – see Q3 above)
Q5. Will my money be refunded if I am not satisfied with the mentoring I got?
A5. No, that’s not practically possible. Satisfaction being a subjective thing, we can’t objectively say if the session was useful or not. So choose your mentor carefully, research about him on the internet, read what he has written or hear what the mentor has talked about in different forums, what their expertise is and then decide. But once you have had a session with that mentor, it is done and non-refundable.
Q6. Will my money be refunded if the mentor I wanted is not available to mentor?
A6. YES, it can be refunded. However, please note that the mentors are experts and may be busy with their own projects, travel or other engagements. So we will need a window of 30 days to arrange the mentoring session at mutual convenience. If we are not able to do so, the money can be refunded.
Q7. If an area I am looking at getting mentored has no suitable mentor listed on Startup India Foundation website, can you arrange a mentor that meets the requirement?
A7. Yes, we can try. In this case, send us an email and let’s try and find you one. Please don’t buy the mentoring pass till we confirm (firstname.lastname@example.org).