Use the FAST Agreement to Simplify your Advisory Relationship

The Baiada Institute provides Drexel entrepreneurs with access to individuals that can assist at any stage of a startup's life. Our Advising and Mentoring Programs “amp up” the entrepreneur's abilities and help accelerate their learning, venture progress, and skill development. These programs are designed to provide student, recent graduate, and alumni entrepreneurs with access to experienced individuals who can provide advice and mentoring as they develop new ideas and launch startups.

Responsibilities of Student Ventures

Our student and recent graduate ventures have responsibilities as part of their participation in our mentoring programs. These include:

• In preparation for any meeting, they should establish / circulate an agenda or other materials in advance of mentoring meeting
• Be on time, clearly articulate needs to the mentor, listen and accept constructive criticism
• As follow-up, they should follow-up with appropriate “thank you” emails or hand-written notes and provide appropriate updates on actions taken

Startup/business advice

While the nature of mentoring is to provide advice, it’s also important to remember that the student is ultimately responsible for any decisions made about their venture. Students are encouraged to seek multiple inputs from individuals with varying perspectives and should then be encouraged to make their own decisions.  Students should also be encouraged to understand the person they are speaking with comes with their own biases, experiences and perspectives, and that the information they are receiving is one of several opinions that they may receive when seeing assistance.

Conflicts of Interest and Disclosure Policy

All students and mentors should be alert to the potential for real or perceived conflicts of interest to arise at any stage of a venture’s development.  These conflicts of interest may include:

• Investments in Baiada Ventures

Mentors cannot invest in a venture to which they are currently assigned as a mentor.

• Operational Role as an Employee or Consultant to a Baiada Venture

Mentors cannot receive any compensation from a venture to which they are currently assigned as a mentor. Mentors must not approach any Baiada venture to propose his/her involvement. The initiative must come from the venture or first be brought to attention of Baiada management and/or lead mentor.

If you believe that there may be a conflict, discuss it with the Baiada management immediately to determine the proper course of action.