Mentor Program
Every paid contestant team is individually assigned a mentor from the moment the team enters the competition. Assignment is based on mutual areas of interest and proper matching of team needs and mentor strengths. Once a team reaches the semifinal round they may receive more than one mentor to assist in various aspects of the business plan and pitch and build out of the contestant's team.
The mission of the mentor program is to maximize every contestant's chances of winning the competition, of raising capital investment and of achieving sustainable commercial success.
Mentor Role
All our mentors are highly experienced business leaders who have volunteered their time to help ensure the success of your project. Subject to availability of suitable mentors, teams can count on help with:
- Completing and refining their business plan
- Completing and refining their investor pitch
- Building out their team
- Marketing
- Sales/Business Development
- Financial Planning
- Technology
- Manufacturing
Team Mentors are experienced professionals with proven records of success in either relevant cleantech industries or innovation-driven startups who become key assets for the contestant teams. In the context of the competition, Team Mentors become a champion for the team, coaching and leading the entrepreneurs to build excellent business plans and investor pitches on which they will be judged. Outside the competition, successful Team Mentors become trusted advisors for their teams, often introducing them to potential investors, partners and customers.
Specialist Mentors
Tapping world-class expertise in key functional disciplines like finance, marketing, engineering, sustainability and legal is vital for our contestants to build successful enterprises. Specialist Mentors are an elite group of subject matter experts who act as resources for all the teams in the competition. Typical special mentors are Director or VP-level executives at companies large and small who are recognized leaders in their discipline.
Technology Mentors
All semifinalists also have access to a panel of technical experts - mentors who are not assigned to any specific team but are available to consult to all teams.
Student Interns
The Cleantech Open also pulls in student interns who act as hands-on resources to the semifinalists. Typical tasks include:
- Competitive assessments
- Business case development and financial modeling
- VC pitches
This unpaid summer intern program is the perfect opportunity for students to receive hands-on experience with an entrepreneurial group in a start-up atmosphere, simultaneously receiving coaching and offering guidance and input.
Sustainability Mentors
Each team is also assigned an advisor on sustainability by the sustainability team. The sustainability mentor's role is to provoke creative thinking on sustainable business practices and to help ensure that sustainability is pervasively incorporated in each team's business plan and investor pitch.
Business Clinics
During these 45-minute one-on-one consulting sessions, semifinalists receive in depth assistance with core sections of their business plans and investor pitches from subject matter experts. The business clinic consultants are part of the Mentor Program and are pulled directly from their field of expertise. Semifinalists are strongly encouraged to participate in all nine topics. They are:
- Angel Investing
- Engineering
- Finance I
- Finance II
- Legal - Corporate
- Legal - IP
- Marketing
- Public Relations
- Sustainability
Mock Judging
Mock Judging is held after the business plan deadline. Mentors and other experts are invited to watch the semifinalists' practice pitches. Unlike the full judging session, no marks are awarded; instead, the teams receive comments and feedback and are invited to work with their mentors to tighten up their pitch in preparation for judging for the Finals.
Judging
First round judging (for the semifinals) is in early June. Second round judging (for the finals) takes place over one week in October. One category is judged per day. Judges receive the business plans for the category they are judging two weeks before the judging sessions. Semifinalists present for 15 minutes and have 10 minutes to answer judges' questions. Judges then deliberate in private for five minutes after each presentation.
Judges are members of academia, serial entrepreneurs, sponsor representatives, technical experts and venture capitalists. At the end of the process, Judges choose one finalist and one runner-up for each category.
