The SBA Mentor-Protege Program allows a small business (protege) to receive business development assistance from a larger, more experienced company (mentor). You are right, the SBA requires a signed teaming agreement or joint venture agreement with your proposed mentor as part of the application. Finding a mentor involves targeted outreach and relationship building, not cold calls.
Mentors benefit from the program in several ways. A mentor can form a joint venture with its protege to pursue set-aside contracts, including 8(a) sole-source awards, as long as the protege meets the eligibility requirements. This allows the mentor to gain access to new markets and expand its federal contracting footprint. The mentor firm also gains an opportunity to demonstrate its commitment to small business development, which can be a factor in some federal procurements. Additionally, the program offers an exception to affiliation rules, allowing the joint venture to be treated as a small business for specific contract opportunities. The term of a mentor-protege agreement may not exceed six years, including any extension.