Mentoring in Startup Ecosystems

Abstract

Effective mentoring programs are very difficult to structure and execute, even with the best intentions and reasonable budget. In this report we conduct a multi-institution empirical analysis of mentoring in startup ecosystems to determine what helps entrepreneurial teams and mentors thrive in mentorship programs.

We survey the perspectives of mentees, mentors and university and accelerator program administrators. Our empirical findings reveal that personality and the malleability of entrepreneurial skills among the mentee and the mentor matter. Further we find that university programs lag behind non-university accelerator programs along several important dimensions, when it comes to matching mentees to mentors and providing support during the program and following up after the completion of the program. We provide several prescriptive recommendations for students, startup founders, mentors and program administrators, and outline a research agenda for studying mentoring in entrepreneurial ecosystems.

Keywords: Innovation, entrepreneurship, mentoring, startups

JEL Classification: O31, O32, C83