Seven regions poised to accelerate innovation-driven entrepreneurship around the globe
Cambridge, MA, USA, June 10, 2021—Today the MIT Regional Entrepreneurship Acceleration Program (MIT REAP) announced the launch of Cohort 8 of its Global program, which includes teams of participants from Eastern Province, Kingdom of Saudi Arabia; Egypt; Los Angeles, USA; Manizales, Colombia; Northern Ireland, UK; Rio de Janeiro, Brazil; and Wallonia, Belgium.
MIT REAP Global teams participate in a two-year program focused on accelerating innovation-driven entrepreneurship (IDE) in their regional innovation ecosystems and are provided opportunities to collaborate with teams within and across their cohort. “We’re thrilled by the wide-ranging global footprint of the Cohort 8 teams, and look forward to broadening our impact to support strong entrepreneurial communities,” said Travis Hunter, Director of MIT REAP.
MIT REAP engages with communities around the world to supercharge IDE ecosystems and transform economies via its ground-breaking program –– MIT REAP Global. The program employs an evidence-based “team” approach, translating MIT research and insights into a practical, actionable, and strategic framework that convenes and educates key stakeholders, and empowers regional leaders to drive meaningful, long-term economic and social change. MIT REAP rests on a multistakeholder model––participating teams include members from five key groups of actors in innovation and entrepreneurship ecosystems: government, university, corporate, risk capital, and entrepreneurs.
“MIT REAP faculty collaborate with key regional stakeholders to develop solutions that are compatible with the region’s history, culture, and key regional drivers of innovation and entrepreneurship,” said Professor Fiona Murray, MIT REAP Faculty Co-Director, William Porter Professor of Entrepreneurship, and MIT Sloan Associate Dean for Innovation and Inclusion. “By convening committed and insightful community leaders from the five key stakeholder groups, each region will have the chance to identify their potential for inclusive innovation and ensure that they work together, with the support of MIT, to transform it into an actionable strategy and activities that produce measurable economic results.”
“Entrepreneurs solve problems,” said Scott Stern, MIT REAP Faculty Co-Director, David Sarnoff Professor of Management, and Faculty Director of the Martin Trust Center for MIT Entrepreneurship, MIT Sloan School of Management. “Entrepreneurs have the ability to identify novel solutions to our most pressing challenges, and can choose how to create value that impacts real people in practical ways across business, health, education, and more. MIT REAP capitalizes on this inherent strength and galvanizes regional leaders and ecosystems to accelerate impact.”
MIT REAP, a MIT Sloan Global Programs initiative, engages with communities around the world to strengthen innovation-driven entrepreneurial (IDE) ecosystems and transform economies. Regions from across the globe are carefully vetted for acceptance to MIT REAP’s Global and Focus programs, and must pose a particular “urgency for change” or problem area in their region’s overall system that they want to address. The MIT REAP faculty then work with teams to overcome regional challenges that are hindering the growth of their IDE ecosystem by identifying the comparative advantages and acceleration mechanisms required to promote innovation and entrepreneurship.
For more information on MIT REAP, contact Director Travis Hunter at email@example.com.
Applications for MIT REAP Global Cohort 9 are now open. Learn more and apply here.
About the MIT Sloan School of Management
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