Access is gained through a ‘Mentor Shares Agreement’ generator and includes guidance on its use and a forum for startups, mentors and legal professionals to share queries, give advice and discuss in detail. The document was developed and is sponsored by Pinsent Masons LLP’s Bootlaw programme (UK version) and Orrick (US version). Bootlaw is a free boot camp for emerging technology, Internet and digital professionals who want to learn more about the legal issues they face.
The f6s ‘Mentor Shares Agreement’ template:
f6s startup programs already adopting the ‘Mentor Shares Agreement’ include:
Tech Wildcatters (Dallas) - United States,
Nazca Ventures (Buenos Aires) - Argentina
the Morpheus - India
Springboard (United Kingdom)
Le Camping (Paris)
Tetuan Valley (Spain)
Sameer Guglani, Founder of India-based Startup Accelerator, the Morpheus, added: "The ‘Mentor Shares Agreement’ is a crucial step in making the startup ecosystem both fair and transparent. We are very pleased to be part of this initiative and are looking forward to collaborating with the rest of f6s community in future legal documentation initiatives."
According to Sean Kane, Mentor at f6s: “The primary driver for most mentors is to give back. However, early-stage startups and mentors that want a long-term relationship often hit a ‘wall’. It’s difficult to formalize the relationship and a mentor/startup break-up is a common result. Mentor Shares came out of the f6s startup community to solve this problem and help startups and mentors continue to grow together.”