Throughout the startup process, advice and mentorship are invaluable in building the foundation for a successful business. Yale cultivates a strong entrepreneurial spirit and has many resources to help with networking and provide guidance for a path to commercialization. Yale’s formal programs and entrepreneurship classes, combined with informal advice from advisors, friends, and colleagues, can help shepherd entrepreneurs through all facets of the startup process – such as writing a business plan, building a management team, attracting board members, and meeting potential investors.
Entrepreneurs should be careful to separate their outside startup activities from their Yale responsibilities. For example, faculty are expected to use the time they are allowed for outside professional activities, typically “one day in seven” amounting to 13 days a quarter, and students need to consult with advisors overseeing their academic progress.