Abstract:

This study explores the role of mentoring programs as an effective and valuable informal learning method for novice entrepreneurs. With the aim of understanding the expectations and preferences of entrepreneurs participating in accelerator programs, we conducted a survey of 70 accelerator program participants and interview 30 other participants (who were part of the accelerator program during the previous years). The survey focused on gathering information about their perceptions of mentors and mentorship programs, aiming to identify key elements that contribute to successful mentoring relationships.

The findings of our study shed light on the significance of mentoring programs to foster entrepreneurial development. The results reveal that novice entrepreneurs highly value mentors who possess practical experience, industry knowledge, and a willingness to provide guidance and support. Participants expressed a strong desire for mentors who can offer personalized advice tailored to their unique business challenges.

Furthermore, our research highlights the importance of establishing clear expectations and goals within mentorship programs. Entrepreneurs emphasized the need for structured mentorship arrangements, with defined objectives and a roadmap for progress. The survey data also indicates that ongoing feedback and regular communication between mentors and mentees are crucial for a fruitful mentoring experience.

Another noteworthy aspect identified through the survey is the preference for a diverse pool of mentors. Participants emphasized the importance of diversity in terms of industry backgrounds, entrepreneurial expertise, and demographic representation. The inclusion of mentors from different sectors and cultural backgrounds was seen as beneficial for gaining diverse perspectives and expanding networks.

In conclusion, this research underscores the significance of mentoring programs as a valuable informal learning method for novice entrepreneurs. The survey of 70 accelerator program participants and the 30 interviews conducted with previous participants provided valuable insights into their expectations and preferences regarding mentors and mentorship programs. By understanding these factors, organizations can design and implement more effective mentoring initiatives to support aspiring entrepreneurs on their journey to success.

Keywords:

Informal learning, mentoring, mentorship expectations, entrepreneurial development.