Morning Mentoring

Our solution, Morning Mentoring, is a comprehensive program designed to support and guide entrepreneurs and young companies on their journey to growth and success. It operates as an investor readiness and pitch feedback platform that connects startups with experienced entrepreneurs, business professionals, VCs, angel investors, and subject matter experts.

Morning Mentoring works by matching participants with mentors who have expertise in various areas of business, such as finance, operations, marketing, and more. The program facilitates weekly sessions where participants have the opportunity to pitch their business and engage in a Q&A session with mentors. This format encourages feedback, connections, and mentorship, creating a supportive and collaborative environment known as the "Dolphin Tank."

The program utilizes a combination of processes and technology to enhance the mentoring experience. Participants receive support in developing their pitch deck and presentation skills, while mentors provide feedback through a scorecard and feedback form. Additionally, participants have access to resources, including past session recordings, pitch deck examples, content guidelines, and mentor scorecard and feedback form.

Morning Mentoring has a proven track record, having operated successfully for over 18 years. Over this time, participants have secured over $38 million in grants, funding, and government contracts, showcasing the effectiveness of our solution. By connecting entrepreneurs with experienced mentors and providing them with the necessary resources and guidance, Morning Mentoring equips them with the tools they need to thrive and grow.

Morning Mentoring relies on a few technologies to power its solution and provide an impactful mentoring experience for entrepreneurs. These technologies include google meet/zoom, google drive, microsoft word, canva, and jotform.

One key technology utilized by Morning Mentoring is online communication and collaboration platforms. These platforms enable seamless and efficient interaction between mentors and participants. Through video conferencing, messaging, and document sharing, mentors and participants can connect regardless of their geographical locations. This technology eliminates the barriers of distance and enables valuable mentorship sessions to take place remotely.

Another vital technology employed by Morning Mentoring is pitch deck development software. This software assists participants in creating professional and compelling pitch decks to effectively present their business ideas. It provides templates, design features, and content guidelines, ensuring that participants can craft impactful presentations that resonate with potential investors, partners, and stakeholders. By utilizing this technology, Morning Mentoring helps entrepreneurs showcase their ideas in a visually appealing and concise manner.

Additionally, Morning Mentoring operates a digital resource hub that serves as a centralized repository of valuable materials for participants. This hub includes a recorded session from previous mentoring engagement. It also offers example of well-crafted pitch deck, allowing participants to gain inspiration and learn best practices. Furthermore, the resource hub includes a mentor scorecard and feedback form, which provide participants insight into how the mentors grade their pitch.

The target population that Morning Mentoring aims to directly and meaningfully improve consists of tech-focused entrepreneurs and young companies seeking guidance and support to achieve sustainable growth. This population is characterized by its innovative spirit, drive for expansion, and commitment to making a mark in the tech startup landscape. Currently, this group is often underserved due to the lack of accessible, tailored mentorship opportunities that bridge the gap between aspiration and execution.

Engagement is central to our approach. We are expanding our offering through networking events, virtual sessions, and forums where participants can share experiences and learn from one another. This interactive engagement enables us to tailor our program to the specific challenges faced by each entrepreneur.

Morning Mentoring's solution is designed to address the needs of these entrepreneurs by providing them with access to a network of experienced mentors, investors, and subject matter experts. This solution offers a structured platform for collaboration, knowledge sharing, and guidance that directly addresses the gaps in mentorship for tech startups.

Demographics:

• Age: Primarily ranging from mid-20s to mid-40s
• Gender: Diverse representation, with a focus on promoting gender equality
• Race and Ethnicity: Inclusive of all racial and ethnic backgrounds
• Income: Varied income levels, with a focus on supporting both resource-rich and resource-constrained entrepreneurs
• Education: A mix of educational backgrounds, including degrees in technology, business, and other relevant fields

By serving this diverse demographic, Morning Mentoring is committed to fostering an inclusive environment that uplifts underrepresented groups, ensuring that every entrepreneur has an opportunity to thrive, regardless of their background. Through personalized guidance, mentorship, and access to resources, we empower this community to overcome challenges and achieve their growth ambitions.

The Morning Mentoring program is intricately aligned with the Challenge, as it directly addresses the need to promote diversity, equity, and inclusion within the tech startup ecosystem. Our solution is designed to bridge the existing gap in mentorship opportunities for underserved entrepreneurs, including those from underrepresented groups and diverse backgrounds.

Problem Alignment: The tech startup landscape has been historically characterized by disparities in access to resources and opportunities, particularly for underrepresented groups. This leads to a lack of diverse voices and perspectives in innovation, hindering the sector's potential for growth and impact. The problem we are addressing aligns with the Challenge by targeting this inequity and striving to level the playing field for all entrepreneurs.

Solution Alignment: Morning Mentoring's solution offers a platform that fosters inclusivity and equity. By matching startups with a diverse range of experienced mentors and experts, we create an environment where entrepreneurs from various backgrounds can access guidance, resources, and networks that were previously out of reach. This solution aligns with the Challenge's goal of promoting diversity and inclusion by empowering these entrepreneurs to overcome barriers and achieve success.

Our theory of change for the Morning Mentoring program revolves around empowering underrepresented entrepreneurs and young companies in the tech startup ecosystem. By providing tailored mentorship, resources, and networking opportunities, we anticipate a transformative impact on both immediate outputs and long-term outcomes for our target population.

1. Activities:

• Match entrepreneurs with experienced mentors, industry experts, and investors.
• Host weekly virtual sessions for pitching, feedback, and Q&A.
• Facilitate engagement through networking events, forums, and knowledge-sharing sessions.

2. Immediate Outputs:

• Entrepreneurs gain access to valuable feedback, insights, and actionable advice.
• Mentors share expertise, provide guidance, and foster meaningful connections.
• Participants develop refined pitch decks, business strategies, and operational plans.

3. Short-Term Outcomes:

• Entrepreneurs apply mentor feedback to refine their business models.
• Participants build strategic partnerships and expand their networks.
• Startups gain confidence and expertise, enhancing their chances of securing funding.

4. Long-Term Outcomes:

• Underrepresented entrepreneurs achieve sustainable growth and innovation.
• A more diverse range of startups successfully secure funding and thrive.
• The tech startup ecosystem becomes more inclusive, driven by diverse voices.

Currently, Morning Mentoring directly serves 45 - 50 small businesses per year. Since covid, we have reorganized the event to an online format and are now at our 342nd session as of 8/10/23. Looking ahead to the next five years, we are committed to a trajectory of continnuous growth, aiming to provide meaningful support and guidance to an estimated 250 businesses.

Our growth is guided by a strategic plan that involves enhancing our program's accessibility, fine-tuning our mentorship matching process, and expanding our network of experienced entrepreneurs and subject matter experts. By scaling our efforts, we intend to significantly magnify our influence on the tech startup ecosystem.

The community served by Morning Mentoring encompasses a diverse range of stakeholders who are united by their passion for entrepreneurship and innovation. This includes tech-focused entrepreneurs, startups, mentors, experts, investors, and community members, all coming together to shape the tech startup ecosystem.

Entrepreneurs and Startups: The heart of our community comprises aspiring entrepreneurs and young companies seeking guidance, mentorship, and resources to drive their ventures forward.

Mentors and Experts: Experienced mentors and industry experts are pivotal stakeholders who lend their insights and knowledge to guide the entrepreneurs. 

Investors: Investors play a crucial role as they not only offer financial support but also contribute to shaping the startups' growth trajectories. 

Community Members: Community members, including potential clients, event attendees, and those who engage with the program's resources, contribute to the collective knowledge-sharing environment. 

Building trust within the community we serve and among small business owners is a cornerstone of Morning Mentoring's approach. Our outreach, communication methods, and engagement strategies are designed to be transparent, accessible, and tailored to the needs of our diverse community.

Outreach and Communication Methods:

1. Personalized Communication: We use personalized emails and direct messaging to connect with entrepreneurs, mentors, and stakeholders. This approach demonstrates our genuine interest in their success and fosters a sense of belonging.

2. Social Media Platforms: Our active presence on social media platforms like LinkedIn enables us to share success stories, program updates, and valuable resources. This helps us engage a wider audience and showcase the impact of the program.

3. Webinars and Workshops: We conduct webinars and workshops on relevant topics, showcasing our commitment to knowledge sharing. These events provide a platform for open discussions, addressing pain points, and sharing best practices.

Current Year (Year 1):

1. Diverse Participation: Increase participation of underrepresented entrepreneurs by 20%.
2. Mentor Network: Expand the mentor network by 30%, focusing on bringing in mentors from various industries and backgrounds.
3. Successful Funding: Support at least 15 startups in securing funding through mentor connections, leading to a total funding of $5 million.

Next Five Years (Years 2-6):

1. Wider Reach: Double the number of startups served annually, reaching entrepreneurs across diverse geographical regions.
2. Representation: Achieve at least 50% representation of underrepresented founders in the program.
3. Funding Impact: Facilitate funding of $50 million for startups that have gone through the program.
4. Local Ecosystems: Collaborate with local governments to replicate the program in other regions, enhancing local startup ecosystems.

Achieving Impact:

Year 1:

• Outreach Intensification: Collaborate with diversity-focused organizations to target underrepresented entrepreneurs. Utilize webinars, workshops, and social media to raise awareness and encourage participation.
• Mentor Recruitment: Establish partnerships with industry associations, leveraging their networks to bring in mentors from various sectors.
• Direct Support: Provide personalized mentorship to startups seeking funding, connecting them with investors and experts from the mentor network.

Years 2-6:

• Scaling Webinars: Host regular webinars on scaling strategies, attracting entrepreneurs from different regions.
• Tailored Content: Develop industry-specific resources and mentorship tracks to cater to the needs of diverse startup verticals.
• Collaboration with Governments: Collaborate with local governments to replicate the program's model in other regions, fostering similar ecosystems.
• Alumni Network: Establish an alumni network that continues to provide support, connections, and mentorship to startups beyond their initial engagement.

Collaboration with Truist Foundation and MIT Solve holds multifaceted value for Morning Mentoring:

Financial Support: As highlighted in our barriers, financial constraints hinder our ability to expand outreach and upgrade our technology infrastructure. The Truist Foundation Inspire Awards can provide essential funding, directly addressing this challenge and allowing us to reach a wider audience of deserving entrepreneurs.

Access to Expertise: Our solution's effectiveness is enhanced by expert guidance. Partnering with Truist Foundation and MIT Solve would provide us access to their extensive network of experts, aiding in refining our strategies, overcoming challenges, and optimizing our outcomes.

Network Expansion: Amplifying our network through collaboration with Truist Foundation and MIT Solve would foster connections with like-minded entities, potential mentors, and strategic partners. This expanded network enhances our capacity to reach more entrepreneurs and provide meaningful support.

Capacity Building: Our goal of scaling while maintaining quality and cultural relevance can be achieved through the mentorship, resources, and knowledge-sharing opportunities that the partnership offers. This support would empower us to enhance our operations and extend our reach.

Our partnership goals with Truist Foundation and MIT Solve are centered on enhancing our organizational capacities in Human Capital, Public Relations, and Technology. These key areas align with our mission to empower underrepresented entrepreneurs and drive an inclusive tech startup ecosystem. Here's how we envision the partnership adding value:

Human Capital: We aim to source and nurture a diverse pool of mentors, advisors, and subject matter experts who can provide meaningful insights to our entrepreneurs. The partnership would help us identify, engage, and train mentors who can guide startups with relevant industry experience and cultural sensitivity. 

Public Relations: Effective branding and marketing are essential to attract both startups and mentors. Partnering with Truist Foundation and MIT Solve can offer strategic guidance on refining our branding, communication, and marketing strategies. Leveraging their expertise in social and national media can help us reach a wider audience and showcase our impact stories, thereby attracting more entrepreneurs and mentors.

Technology: Our virtual mentoring sessions heavily rely on technology. Collaborating with the partnership can provide us with resources for web development, design, and data analysis to optimize our platform. This includes ensuring seamless virtual interactions, improving user experience, and leveraging data insights for continuous improvement.