Mentor-Protégé Program is a key initiative implemented by U.S. Small Business Administration (SBA) to foster business relationships between established companies (mentors) and smaller, often disadvantaged businesses (protégés). This symbiotic program is designed to beneficially enhance the capacities, growth, and federal contract bidding abilities of small businesses. The motive is to assist the protégé firms to successfully compete for government contracts, while allowing the mentor firms to expand their supply chain and meet their supplier diversity goals.
In this program, the mentors provide technical, managerial, and financial assistance to help their protégés boost their overall business performance. These collaborations might also involve joint venture opportunities, which can enhance the competitive edge of the smaller firms. Overall, Mentor-Protégé Program is an influential tool that promotes small business development, strengthens industry relationships, and enhances the effectiveness of the federal procurement process.
