May 22 | 2020
ITnova and Adams Communication & Engineering Technology (ACET, Inc.) have created ITSoft Net, a joint venture from the approved mentor protégé program. ITSoft Net has the expertise of ACET as an experienced government contractor and the qualification of a woman-owned business. Our joint venture will compete for government contracts reserved for small businesses.
ITSoft Net follows the rules setup by U.S. Small Business Administration (SBA) that apply to joint ventures:
- ITSoft Net must perform the appropriate percentage of work based on the subcontracting requirements.
- ITSoft Net must submit annual reports to the SBA and the contracting agencies explaining how the work is being performed for each contract.
The benefits of the Mentor Protégé Program are:
- Assistance in the navigation of federal contract bidding, acquisition, and performance process.
- Guidance on internal business management systems to accelerate growth.
- Equity investment, loans, and bonding.
- ITSoft Net can qualify for set-aside contracts that ITnova, LLC is eligible for.