Background

To accelerate opportunities for investing in women’s entrepreneurship, the United Nations in India (led by UNDP and UN-Women) and the Women Entrepreneurial Platform (WEP) of NITI Aayog have partnered to establish the NITI Aayog-United Nations Investor Consortium (IC) for Women Entrepreneurs. Formally launched at the 2nd Annual Meeting of the UN India Business Forum (UNIBF) in June 2018, the platform brings together key ecosystem partners who are committed to support women entrepreneurs through mentorship and possible funding opportunities and advocates for the reduction in gender disparities in startup investments. Currently, the Consortium has membership from several leading investors and is being expanded for greater outreach and impact.
Keeping in line with the objective of the Consortium, several initiatives have been executed (online and offline) since its inception. Following an open ‘call for application’ process in 2019, several start-up support programmes including structured workshops; webinars; masterclasses, investor pitching sessions as well as COVID-19 response sessions have been organized by UNDP and UN Women (under the WeEmpowerAsia Programme). Through the various touch points, the IC has benefitted over 150 women entrepreneurs from across the country.
Going forward, to address the challenges faced by women entrepreneurs due to Covid-19  and respond to their immediate needs, the UN Women’s WeEmpowerAsia Programme and UNDP under the consortium will provide mentorship support to promising women entrepreneurs from WEP network who would then pitch to investors. This particular assignment pertains to identifying and on-boarding mentors from the startup, investor and entrepreneurship ecosystem to build the capacities of the selected entrepreneurs.  The 1:1 virtual mentorship programme would be a one of a kind startup support programme which will aim to go beyond generic capacity building initiatives for women entrepreneurs and would focus on high-touch, intensive and tailor-made interventions.
The mentors are expected to support the selected women entrepreneurs/mentee in processes by listening, reviewing, assessing and advising across a number of areas including: strategy and operations, marketing and branding, business model and fundraising. Mentors where possible, are also expected to make introductions or connects for women entrepreneurs.

Duties and Responsibilities

Expected Time Commitment from Mentors

Expected Time Commitment from Mentors

• Each Mentor would be on-boarded to virtually work with 6 selected women entrepreneurs/ enterprises over a period of 3 months (between September-December 2020). 
• The mentor-mentee assignment would depend on the mentors’ expertise (functional/ sectoral/ experiential) and the support requested by the entrepreneur. UNDP will be responsible for mentor-mentee matchmaking process. While every effort will be made to align expertise and requirements, Mentors must also have the ability to advise entrepreneurs on a broader range of areas.
•  Each mentor is expected to commit 6-8 working hours per entrepreneur/ enterprise, spread over 4+ contact sessions (virtual) across a 3-month period. This would translate into 30 – 40 hours for the full group of entrepreneurs that the mentor supports (based on 5 enterprises envisaged).
•  While the above strictly translates into ~6 working days (given the anticipated 48 hours spread across 6 enterprises), the terms of reference allow for up to 12 days given that mentors may also need to prepare for interactions with enterprises. Should we increase the number of enterprises per mentor, this will be reflected in a corresponding increase in number of days for the contract.
• Mentor is expected to have a minimum of one contact session per entrepreneur/ mentee every 3 weeks over the 3-month period.

Overall mentorship and guidance to entrepreneurs

• Mentor should focus on assessing the needs, providing expert advice, making any connections or introductions, setting targets and tracking progress. Monthly target setting of the assignee should be done at the beginning of the month followed by performance reviews and follow ups.
• Provide support in undertaking pre -post mentorship assessment exercises to gauge the feasibility and value-add of the interventions
• Provide support to the assigned entrepreneurs (wherever possible) with relevant market/ investor and network connects.
• While the exact nature of mentorship support will be based on the specific asks of the entrepreneurs, some of the indicative areas to be covered are given below:

1. Scenario Planning & Company Structuring: Equipping start-ups with overall understanding of the global and Indian scenario thereby helping them prepare for the future
2. Business Continuity Plan: This will include guidance around preparedness, protection, response and recovery to help entrepreneurs modify and adapt newer ways for their businesses
3. Fundraising: Guidance on adjusting company’s messaging and business plan to be able to raise funds. Strategic inputs on investor trends, market sentiment, how to make business pitches, fund-raising plans
4. Legal & Governance: Guidance around startup’s growth processes including incorporation, structuring, compliances, funding options, employee stock options.
5. Go-to Market Strategies: Guidance on understanding the customer; product-market fit and competition; pricing strategy, etc.
6. Managing People and Strategic Communications: Ways, tools and software to work with team remotely and effectively

Competencies

Preparing entrepreneurs for their pitches to investors

• Based on emergent needs, the mentors are expected to provide strategic guidance to the enterprises in terms of growth strategies, investments, navigating partnerships, negotiation, allocation of capital, people’s management.
• Hands-on support in reviewing, improving and validating the business plans, estimating capital requirements, business models and action plans or any other area where the assignee needs help with in preparation for their pitch to investors (likely to be held in December 2020)
• A format of a standardized presentation/ pitch book for investors will be given to each entrepreneur, the mentor would be expected to review the same with each entrepreneur. This must be shared with the UNDP team 3 weeks ahead of pitching. 

Final deliverable
The on-boarded mentors would be expected to compile and submit brief (2-3 page) reports on each of the assigned entrepreneurs (at the end of the three-month engagement). The reports should contain details of the enterprise including baseline assessment, issues identified, targets for growth, advice given, connections facilitated and progress made over the period. 

Required Skills and Experience

Academic Qualification:  

• Bachelor’s degree (essential)/ Masters (desirable)

Professional Experience and Competencies:

8+ years of experience in the entrepreneurship or investing ecosystem (either running their own businesses and professional services)

• Proven track record of mentoring at least 5 startups in various critical areas of business and fundraising. Experience of mentoring and guiding women-led businesses (desirable)
• Affiliation to different startup networks/ incubators/ accelerators and strong connects in the investor ecosystem
• Extensive knowledge on relevant Govt. schemes and start-up support programmes
• Mentors are expected to be well-versed in a variety of fields that may include and are not limited to the following:

- Business operations

- Branding, marketing and communication, market positioning

- Business and product validation

- Legal strategies

- Business management and strategy

- Growth and scale strategies

- Fundraising

- Thinking through pitch decks/ profiles 

Note: The maximum time for mentorship is estimated at 48 working hours spread over a 3-month period, translating into ~6 working days. This ToR envisages a maximum of 12 working days accounting for time spent on preparation, facilitating connections and any background research.  

Payment Terms:

Evaluation Criteria

 The award of the contract shall be made to the individual consultant(s) whose offer has been evaluated and determined as Responsive to the requirement. Having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation.

Only candidates obtaining a minimum of 49 points (70% of the total technical points) would be considered for the Financial Evaluation;

•           Technical Criteria weight - 70%;

•           Financial Criteria weight – 30 %

Technical Criteria (70% of the total evaluation)

• Criteria 1 (20% weightage): Educational qualification i.e. Bachelors degree (essential) and Master’s Degree (Preferred).
• Criteria 2 (25% weightage): 7+ years of experience in the entrepreneurship or investing ecosystem (either running their own businesses or providing professional services).
• Criteria 3 (25% weightage): Proven track record of mentoring at least 5 startups in various critical areas of business and fundraising. Experience of mentoring and guiding women-led businesses (desirable).

Financial Proposal:

Technically qualified consultants will be requested to submit their daily fee rate i.e. consultants who score more than 70% i.e. 49 marks with respect to the above-mentioned evaluation criteria. Consultant should not specify their consultancy fee on their CV or with the submission. The CV will not be evaluated further in case the consultant submits the same.

Documents to be submitted by Consultants

1. Letter to UNDP Confirming Interest and Availability for the Individual Contractor Assignment
2. Updated and signed P-11 form for ICs
3. No Financials (Daily Fee) to be submitted at this stage

Note:

1. Any kind of miscellaneous charges i.e. internet, phone, relocation charges etc. would not be reimbursed.
2. Travel, lodging and boarding as per UNDP rules subject to prior approval
3. Individuals working with institutions may also apply, contract would be issued in the name of institution for the specific services of individual