FAQ- Frequently Asked Questions.

What is Aye-Mentor?

Aye-Mentor is the next-gen 1:1 mentoring platform in India bringing together renowned mentors and mentees who need mentoring.

How does Aye-Mentor support Mentees to connect with Mentors?

At Aye-Mentor the mentees can search for mentors who are experienced in various industries and specializations. The filters are made available to provide better search results. The Mentees can thereafter look for the scheduled availability of the mentor and request to book an appointment.

I already have a mentor assigned at the workplace i.e. TBI, why should I sign up at Aye-Mentor?

Mentoring at the workplace would prepare you for the next level role in the organizational requirement whereas Mentoring program with Aye-Mentor would give you access to the best industry mentors widening your scope of learning on the subject.

How do I stay in touch with my mentors?

Aye-Mentor enables you to stay in touch with your mentor at the available time slot. You can book the slot from the portal and schedule a meeting accordingly.

How does Aye-Mentor ensure the quality of the program?

All the mentoring programs are being closely monitored by IFCI Venture which ensures the quality of programs and also assists in recalibration if the mentee needs assistance.

Why should I become a mentor?

Exposure to new ways of thinking
Develop Leadership and Management Qualities
Reinforce and improve your own skills and knowledge of your subject(s)
Increase your self-awareness, confidence, and motivation
Network with the elements of the ASIIM Start-up Ecosystem
Gain recognition for your skills and experience
Benefit from a sense of fulfillment and personal growth by participating in the dream of making a self-reliant India

What are the criteria for becoming a mentor?

Entrepreneurs with experience in running their own businesses for at least 5 years
A professional with work experience of at least 15 years of knowledge domain or currently serving/has served in a leadership position in a business entity with work experience of at least 10 years.
Ex-employees of Banks/Financial institutions of the level of DGM and above or professionals from the Venture Capital/Private Equity space.
An individual with credible records, recommended by recognized associations or Government departments.
Educationists/scholars with domain expertise

How will I be helping the person I menting?

Selected mentors shall volunteer their time and services on a pro-bono basis or on an honorarium basis as accepted by the Sanctioning committee of VCF-SC/VCF-ST.
The contributions of the selected mentors are expected, but not limited to, one or more of the following areas:

Focus on problem-solving including aspects of design thinking.
Inculcating a solution-oriented approach.
Inculcate leadership skills, self-motivation, and reflection on oneself.
Encourage entrepreneurs to create a business model for sustainable enterprises
Hand Holding enterprises throughout their entrepreneurial journey with a focus on possible value-additions supports, partnerships happening in the Indian /Global Startup Ecosystem including Private equity and Seed Investments, etc.
Guidance regarding available subsidy/grants under various Central and State Govt. schemes for business growth.
In-person mentoring sessions periodically as agreed on an ongoing basis.
Such sessions will be focused on guiding and nurturing entrepreneurs under VCFSC/VCFST for problem identification, finding solutions to common problems faced in day-to-day operations, and finally attempting to covert business ideas into scalable solutions.
Reasonable availability to help entrepreneurs on the portal developed for a business mentor, with an expected response time of 72 hours from the selected mentors.
Give constructive feedback to entrepreneurs to allow further improvement at regular intervals.
Participation in social media forums organized under various forums for entrepreneurs across various sectors to scale up operations.
Guidance in restructuring/ Revival plans in case of troubled businesses
Marketing and brand building support
Impart knowledge of the financial discipline and corporate governance

As a mentor, what are my responsibilities?

Mentors stand to gain the satisfaction of making a difference in fledgling entrepreneurs’ life and contributing back to the society. In addition, they also get to keep in touch with new technologies, people and networks by working with the young entrepreneurs. The following are expectations from the enrolled mentors.

Availability: Mentors will make their best efforts for regular contact with mentees on a mutually agreeable schedule, taking up to 2/4/6 hours per month as a general practice. This is flexible based on mutual agreement.

Relationship: The relationship between mentors and mentees should always be professional and with proper business etiquette. Mentors should treat mentees with dignity and respect. Mentors should encourage mentees to be responsible for the mentoring.

Confidentiality: Mentors will maintain the confidentiality of any proprietary information of the mentees.

Conflicts of Interest: Conflicts of interest should be avoided when deciding on the mentoring relationship. When one or more interests of the mentor (financial or non-financial) conflicts with mentoring relationship and responsibilities, the situation should be promptly disclosed to the mentee and an appropriate course of action may be taken, in consultation with IFCI Venture.

Remuneration: Mentors shall be paid on an honorarium basis which shall be decided suitably.

Change of status or discontinuation: Discontinuation of the mentoring relationship should be communicated to IFCI Venture. Mentors may accept the transition to a different status such as an investor or board member in the mentee Company, but again, with explicit communication in advance of the transition to IFCI Venture.

How long will I mentor for? How many hours a week are involved?

The time commitment is 4 hours in a month. This works out as approximately 1 hour per week. You and your mentee can decide on a schedule that suits your goals for the partnership and your availability.

What kind of support will I get with mentoring?

Before mentor start mentoring someone new, you will take part in a mentor orientation session to learn more about your role and responsibilities as a mentor.
Both you and your mentee will have access to online resources to guide you through your partnership. These mentoring tools offer tips for mentors about how to best coach their mentees. They also contain information for mentees to help them in their job search. You and your mentee can select which tools will work best for both of you.
You and your mentee will also be supported by a mentoring coach based at a participating Community Partner. Their role is to help you both throughout the entire mentoring relationship and respond to your questions and concerns.

What are the criteria for mentees to enter the program?

Clarity of needs: Mentee should identify his or her desired outcomes from mentorship prior to pursuing a potential mentor. This will help IFCI Venture identify appropriate mentors with higher chances of positive outcomes.

Responsibilities: Mentees must take active responsibility for the business mentoring relationship. Mentees should be considerate of the mentor’s time, open to mentor’s suggestions, yet be responsible for all decisions made and actions are taken. Mentee should establish clear objectives together with the mentor and work diligently to achieve desired results. Any advice by the mentor’s advice will be of advisory nature and there will not be any legal responsibility/implications on the mentor and/or IFCI Venture for any outcome of any the business decision so taken by the mentee or otherwise.

Contact with IFCI Venture: If the mentee has a concern/ question about the mentorship, he/she should contact IFCI Venture.