Allowing Mentors to Earn Revenue while Colleges/Universities Collect a Commission for Facilitating the Knowledge Transfer is Great Way to Bring Leading Expertise to Remote Areas
Paid Mentor Management Consulting Fees
Another option for schools to generate funding is to create a management consulting practice in tandem with college and university incubators and accelerators. Many sources of mentorship can be attracted by allowing the subject matter experts to generate revenue by providing mentoring services for a consulting fee.
Incubators/accelerators could take a 15% commission out of the consulting fee to add monthly recurring revenue to their incubator and accelerator programs. Payments for services can be paid in cash and/or might include an option to purchase equity shares in the first class of equity shares being offered during the seed fundraising round.
Using this strategy, schools with video conferencing capabilities can tap into talent on a worldwide basis. Using teleconferencing and distance learning applications schools can access the world’s leading entrepreneurs, venture capitalists, and private equity investors, even in remote locations.
A single community college might not able to afford a speaking engagement with Guy Kawasaki, Elon Musk or Richard Branson, but working with numerous community colleges in any given state they could launch a rewards-based crowdfunding campaign to solicit enough cash to pay for an event that could be broadcast to a network of participating schools. These single session tutorials, mentoring sessions or consulting engagements could be setup in a very similar manner to the very popular TedX talks.
Other sources of revenue can be earned by hosting conferences, trade shows, pitching competitions and/or training classes.
Learn more about crowdfunding:
- Building a Rewards-based and/or Equity-based Crowdfunding Ecosystem;
- Providing Easy Access to Seed Investment Capital with Crowdfunding;
- Generating More Revenue to Support Co-Working Spaces and Startups;
- Using Equity Crowdfunding Sites to Finance Incubators and Accelerators;
- Taking Advantage of Investor Syndicates that are Seeking Better Deal Flow;
- Splitting Revenue from Incubator and Accelerator Mentors Consulting Fees;
- Streamlining Technology Transfer Offices (TTOs);
- Cross-Pollinating College Education with Real World Startups; and
- Learning to Build Better Alumni and Local Community Relationships
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