The SBA’s new Mentor-Protégé program will expand WOSB partner opportunities.
Last month, SBA issued a final rule implementing the All Small Mentor-Protégé program. Similar to the 8(a) mentor-protégé program, the new program has been designed to enhance the capabilities of small federal contractors. WIPP advocated for ensuring that women had access to a quality mentor protégé program – effectively expanding parity for a key business development program.
The SBA’s all-inclusive program will assist small contractors to compete for government contracts. Mentors can to assist protégé firms by providing technical and/or management assistance, financial assistance through equity investments and/or loans, subcontracts from the mentor to the protégé, or from the protégé to the mentor, and assistance in performing federal prime contracts through joint venture agreements. More information about the program can be found here, and WIPP’s podcast about the program can be found here.