#GlobalAmbition

COULD YOUR BUSINESS BENEFIT FROM A MENTOR?

What do you want advice about?

a Commercialisation of new products and services

a More targeted sales and marketing

a Expansion into new markets

a Strategic business planning

a Attracting outside investment and funding options

a Improved R & D, design, innovation, production and logistics

a Better HR management

a Management succession

Tap into Enterprise Ireland’s network of entrepreneurs and business leaders to help you grow your business.

Enterprise Ireland’s mission is to help Irish companies achieve global success. The Mentor Network programme helps them to grow faster and survive longer. One of the most effective ways we do this is by matching new, early stage and established business owners with experienced business mentors. These are seasoned entrepreneurs and senior executives who have experienced the kind of challenges - and opportunities - you face in your business.

Advice and support tailored to your needs

We have a panel of around 400 highly experienced, independent business people, entrepreneurs and founders with international commercial business development experience. Each has agreed to work with businesses just like yours, offering practical advice and guidance based on their own business experience, on a one to one basis.

Our mentors do not act as consultants. They are a confidential sounding board helping you and your company develop skills and overcome barriers to growth.

It’s your business so they won’t do the work for you but they will help you establish where you want to go, and then help you plot the best course to get you there.

a Listening and constructively challenging you to consider a range of options and prioritise opportunities

a Providing an independent, objective perspective to your business growth

a Helping you focus on key issues and development opportunities

88% of EI client companies continue to be in contact with their mentor after the programme

94% felt their mentor was well or very well matched

96% were satisfied with the Mentor Network service

73% felt their company had grown because of their mentor’s intervention

Business mentors can help by:

How does it work?

Think about what aspect of your business you need help with and what experience and skills you would like your mentor to have. Then talk to your EI Development Advisor (DA). When your application is approved, we will match you with a shortlist of mentors that are experienced in your sector, issue or new market.

The final choice of the mentor is yours. If you have a number of issues you would like to address in your business, for example, a strategy related issue and a finance one, then more than one mentor can be assigned to you consecutively. We will make every effort to ensure you get the best mentor for the specific needs of your business.

Agree the objectives and goals with your mentor that you want to work towards.

Meet with your mentor 3, 5, or 10 times over 3, 6 or 12 months – depending on your business’s needs.

The Mentor Network is open to eligibleEnterprise Ireland client companies employingbetween 10 and 249 people, and highpotential start-ups, as well as clients ofGovernment funded sister agencies, such as Local Enterprise Offices, IDA Ireland and Udaras.

How much does it cost?

Enterprise Ireland provides grant support1 towards the cost of a mentor for up to 10 sessions (to a total of €1,750) directly to the mentor on your behalf. While mentors volunteer to advise our clients, we pay them a per diem or honorarium of €175 per meeting to secure their commitment and we reimburse them for expenses such as local mileage. There is no cost to you, but to secure your commitment to the programme, and where there is some distance between you and your mentor, we will ask you to travel to your mentor’s location for some of the sessions or meet half-way

1 Mentoring is subject to De Minimis Aid (EU Regulation 1998/2006), which may allow an enterprise to receive up to €200,000 De Minimis Aid over any period of three years.

What is a mentor? An experienced senior executive, entrepreneur or founder who volunteers to share with clients the knowledge they have gained based on their own international business experience.

What is the objective of the EI Mentor Network?

To provide a mentoring service which meets the business development needs of clients at various stages of their development - from start-up to maturity.

What is a mentor’s role? The mentor listens to clients and challenges them to consider alternatives in the development of their business. Through this process clients are helped to focus on the key issues and a range of solutions. The process is constructive throughout; the mentor shares the knowledge, which he/she has gained from past success and failure.

Do mentors act as consultants e.g. manage the implementation of agreed strategies?

No. While mentoring helps clients to identify a range of options to pursue and pitfalls to avoid, it remains the client’s responsibility to choose the option and to implement the plans.

FAQs

Flexible Service A mentor coordinator is allotted to each assignment, so if it’s not working for you with one mentor, you can call your coordinator and request an alternative. If you reach your goal early, you can stop right there. The service is flexible and you are in control throughout.

Future Success While EI mentors are prohibited from serving in any other role in a client company while on an EI mentor assignment, when that assignment is finished both parties are free to come to longer-term arrangements if they wish. In some cases, clients continue meeting with their mentors long after their mentorship programme has finished up.

Confidentiality A mentor is someone you can trusting. Openness and confidentiality form the basis of an effective mentor relationship. Your mentor needs to have a detailed understanding of your company’s background, current position and future plans in order to give relevant comment and advice. To protect your interests, every mentor signs a strict confidentiality agreement with Enterprise Ireland before taking on assignments and will not discuss your business with third parties without express permission.

Adding value through mentoring

Investor Ready Mentor Panels and Practice Pitching Sessions

In addition to one-to-one mentor support, companies can take part in specially convened mentor panels. These are half day sessions where clients can get feedback on the commercial viability of their investment proposal, business plans or sales and export strategies. A serious infusion of expertise, mentor panels can provide clients with valuable insights and advice, enabling them to test their proposition in a trusted environment.

How are companies referred to the Mentor Network?

Executives of Enterprise Ireland or other development agencies (such as Local Enterprise Offices, IDA Ireland, UDARAS) make this referral. In Enterprise Ireland these executives are referred to as “Development Advisors” (DAs). The Mentor Network is one of the specialist, tailored services which the DA can call upon to help their clients. Companies can apply for a standalone mentor grant or can be offered a mentor through their participation in various entrepreneur development programmes and combined funding offers, such as Competitive Start Fund.

What is the relationship between the mentor and the DA?

The mentor is assigned at the request of the DA. The mentor’s role is to support the work of the DA. Mentors are encouraged to contact the DA at the start of the assignment.

What is the role of the mentor coordinator?

We have four mentor coordinators who help us recruit and assist the mentor panel within their region or sector, and they also match mentors to each assignment. The coordinator presents you with a list of at least three best-fit mentors and you make the final choice.

Who does the mentor work with?

Assignments are preferably with the CEO who may include members of the senior management team for some of the sessions.

Who arranges the initial meeting?

The mentor will contact you to arrange the first meeting. Normally, at the end of each meeting a date for the next meeting is agreed.

How long do meetings last?

A typical visit or mentoring session is between one – three hours (one visit per day).

How frequently should meetings take place?

Initially, there may be a few meetings close together at the start of the assignment, followed by a gap to allow you to put into action the agreed objectives. Ideally, a 10-visit assignment should be completed within 12 months.

How many assignments can I have?

You can only have one assignment in progress at any time. Typically clients can have up to two assignments and any further support will be approved on a case by case basis by your DA.

Can a mentor offer a client grant support?

No, the decision on the relevance of any support (financial or non-financial) is

the responsibility of the DA.

What additional services does the programme offer?

In some instances Enterprise Ireland can facilitate a ‘deep dive’ business session with two or three mentors and one client company. This is typically a half day set aside to explore and plan certain elements of a business strategy.

Where can the meetings take place?

Meetings can be held at a venue suitable to both parties. In Enterprise Ireland’s view, face-to-face mentoring is best, but if there is a considerable distance between you and the mentor, some of the meetings can be carried out by skype, but these should be agreed with your coordinator and mentor at the start.

Does a mentor have a role in securing Enterprise Ireland grant support for a client?

The Mentor Network has no direct role in Enterprise Ireland’s funding decisions for clients. You should get in touch with your DA directly to discuss Enterprise Ireland follow-on funding offers and services.

FAQs

“Our mentor was able to offer us first-hand advice and played an integral role in making sure that our patents and regulatory affairs were in order”Martin O’Connell, CEO, Nasal Medical Ltd

“My mentor has been instrumental in helping me understand the future strategy for my business. Prior to this we were struggling to see the bigger picture, now it’s very clear” Neptune Showers

“Encouraged us to set up a separate brand for our product to focus on a completely different target market”iHotelligence

“We began as a company with little or no knowledge or experience of fund raising. We have now successfully raised a Seed Round and iHPSU status with an A round to follow” Hub Controls Ltd

“Our mentor’s knowledge around our industry was extensive. That helped immensely when carrying out our strategic planning to help us understand the entry requirements of each strategic element”Automatic Plastics Ltd

“He helped us massively in understanding the potential markets that we need to focus on. He provided some great insights into best practice and trends in markets where we lacked expertise. His extensive knowledge has been invaluable to us and our new product line”Burke Joinery

“Mentor showed me where I’m losing money, helped with the decision on product promotion and how to get my product line out there”Rosaleen’s Kitchen

What our clients say....

Enterprise Ireland’s Mentor Network panel is open to applications all year round. To find out more see www.enterprise-ireland.com/mentor or contact the mentor team.

Mentor Network Contact DetailsTel: +353 1 727 2736 / 2441 / 2764 / 2872Email: Mentor@enterprise-ireland.comWeb: www.enterprise-ireland.com/mentor

#GlobalAmbition