Frequently Asked Questions

Who is eligible to participate?
VMS services are offered free of charge to all interested MIT students, alumni, faculty, and staff who are connected to a venture as a Founder, Principal or Executive, within the constraints posed by the available mentoring resources. VMS is designed as a hands-on, face to face program so we currently only serve the MIT community located in the New England area.

Are the entrepreneurs responsible for any fees or considerations ?
There are no fees for the service, nor does VMS ask for any equity in the ventures it mentors.

How do I apply?
We request prospective entrepreneurs to complete and submit a questionnaire to provide basic information about the venture. All identified proprietary information provided by applicants will be kept strictly confidential by VMS. The questionnaire and any accompanying materials can be submitted to vms@mit.edu

How are mentor matches arranged?
Each VMS entrepreneurial team is guided through the mentoring process by a member of the VMS management team who has access to a detailed database of VMS mentors. They are responsible for identifying appropriate potential mentors — typically one or more — and arranging matches with the entrepreneur.

The formation of a relationship between a mentor and entrepreneur is purely voluntary. Though VMS is responsible for matching appropriate mentors and entrepreneurs, the decision to form a relationship remains with the prospective mentor and entrepreneur.

How does the mentoring process work?
Once a mentor/entrepreneur relationship is formed, an assigned VMS Manager monitors the progress of the relationship through reports from the mentor and entrepreneur, and provides referral to additional VMS or MIT affiliated resources, such as seminars and classes. As the emerging venture develops, its mentoring needs may change. The VMS manager is available for further guidance and assignment of new or additional mentors when appropriate.

It is important for participating entrepreneurs to realize that VMS mentoring services are educational only. All business decisions remain under the full control of you, the participating entrepreneur. In other words, we are here to help; we cannot do it for you.

Are there rules VMS entrepreneurs must follow?
VMS entrepreneurs are expected to commit to a sustained relationship with VMS and to be professional, open and responsive to the volunteer mentors who work with them. They are also expected to provide VMS, to the best of their ability, with accurate information about their venture.

MIT students should also note that VMS and mentors consider the involvement of any MIT student with the VMS or in any venture secondary to his or her overall academic interests at MIT.