In contemporary Russian practices, mentoring is a multifaceted innovative 'human resource technology' aimed at developing professional skills and corporate competencies, as well as systematic and targeted participation in professional development of employees who have insufficient work experience or have difficulties in mastering new technologies and work techniques. Today, the institution of mentoring is an open industrial, educational and social space where the mentor transfers not only readymade ways to solve production problems, but also teaches how to use available intellectual and material resources. Although the mentoring process in its traditional sense does not require large financial investments, most business entities, industrial enterprises and companies are more actively using training, coaching techniques and various forms of internships, which are valuable forms of professional development of employees, but, as our research has shown, they do not have the potential that the targeted on-the-job mentoring possesses. With all the variety of forms and programmes of mentoring activities, there is a clear lack of innovative ideas aimed at improving its efficiency, which fully applies to the mentoring of students who take their work placements during vocational education, which is the subject of the research presented in this article. The literature and research studies do not fully analyse the potential of the third mission of universities regarding the issue of targeted mentoring aimed at more proactive and advanced applied training of graduates, capable of responding to "the great challenges". The article highlights the mentoring models used in foreign companies, which are similar to the types of mentoring technologies successfully implemented by Russian enterprises.