KLAK VMS supports innovation and entrepreneurial activity in Iceland by matching entrepreneurs with a team of highly skilled mentors who are passionate about fostering innovation and growth. We follow the proven MIT VMS model, a team mentoring approach where teams of mentors sit with the entrepreneur(s) in sessions that provide practical, day-to-day professional advice and coaching. KLAK VMS mentors are selected for their experience in areas relevant to the needs of aspiring entrepreneurs and for their genuine enthusiasm for the mentoring program. They are drawn from a wide range of industries and many have firsthand startup experience. Mentor assistance spans a broad range of business activities, such as needs analysis, product development, marketing, intellectual property law, financing, human resources, and founders issues. KLAK VMS services are offered free of charge to entrepreneurs participating in the various programs at KLAK - Icelandic Startups. KLAK VMS is a vital part of the thriving entrepreneurial ecosystem in Iceland and the impact of our mentoring service has been remarkable. Each year, we support 60-70 startup teams and significantly increase their likelihood of success. The MIT VMS Model: • Unique Team Mentoring methodology • Strict code of ethics to assure objective, conflict-free and confidential advice • Focus on developing the entrepreneur as well as their venture • Practical, actionable advice • Formal operational processes