The mission of teacher education is to equip prospective teachers with the knowledge, skills, attitude and behaviour they need to deliver their best performance in the classroom and at school. This paper presents ideas for optimizing teacher education using the example of the master's program of Business Education and Development at the University of Graz, placing a special focus on the acquisition of teacher competences. The biggest milestone in the curriculum is the teaching practice, the success of which strongly depends on good cooperation among students, teachers, schools, university, and school authorities. The second part of this article will be devoted to the introduction of various instruments designed to support the mentoring process during the teaching practice and to guide the development of teacher competences by the student (self-perception) and the mentor (external perception).