New report developed at MIT offers path to growth for Scottish economy

Published: August 1, 2014

Team participated in MIT Regional Entrepreneurship Acceleration Program’s first cohort

			Members of the MIT Regional Entrepreneurship Acceleration Program meet at Edinburgh Castle in ScotlandMembers of the MIT Regional Entrepreneurship Acceleration Program meet at Edinburgh Castle in Scotland

A team of public and private leaders in Scotland published a report this summer detailing the group’s work in the MIT Regional Entrepreneurship Acceleration Program and making five recommendations to accelerate the country’s economic growth.

The report, Increasing Innovation-driven Entrepreneurship in Scotland Through Collective Impact, is the result of two years of work for the six-member team. It seeks to improve the link between innovation and entrepreneurship, develop skills for growth, grow access to growth finance, leverage universities in the pursuit of entrepreneurship and management education, and promote entrepreneurship “as a worthy and rewarding career choice.”

“They’re very much in the implementation phase now,” said Georgina Campbell, executive director of the program. “The report nicely summarizes some of the key initiatives they are going to move ahead on. I think that they’re in a good position now because of their strong team and rigorous systems-level strategy developed through the REAP program.”

The team worked with MIT Sloan faculty including: Fiona Murray, associate dean of innovation; Bill Aulet, managing director of the Martin Trust Center for MIT Entrepreneurship; and Scott Stern, chair of the school’s Technological Innovation, Entrepreneurship, and Strategic Management Group. The program also gave the team access to MIT research and leaders from other teams in its cohort.

The MIT Regional Entrepreneurship Acceleration Program is a global initiative to help regions accelerate economic growth and job creation through innovation-driven entrepreneurship. It is a partnership between MIT Sloan Executive Education and the Martin Trust Center for MIT Entrepreneurship. The program admits 8-10 partner regions each year to develop a team and commit to a two-year educational engagement. A typical team will include members of government, the corporate community, academia, risk capital, and the entrepreneurial community. Applications are currently being accepted for the program’s third cohort.