b. If your proposed region is a specific part of a country, please help us by clarifying the borders.
Please describe your region's challenges around Innovation-Driven Entrepreneurial Ecosystem development:
Please nominate your region's "Champion" here (self nominations requested).
Please take this opportunity to tell us more about your champion's current role in transforming your regional economy and accelerating your region's entrepreneurial ecosystem and why you should be selected as your regional MIT REAP Champion.
Please share your vision for how participation in MIT REAP will assist in transforming your regional economy and innovation-driven entrepreneurial ecosystem.
Is there an explicit entity/organization (e.g. regional economic development agency or corporate sponsor) already identified and willing to fund REAP participation? If yes, please identify and note whether this budget is under your control.
Do you have a team in place?: If you have identified your team members, please skip to question #9 below to provide their detailed information.
Are you are still in the beginning stages of team planning?: Please use the space below to briefly describe your preliminary plan for who you would engage on your regional team to represent the 5 stakeholder seats -- (Government/Economic Development, Entrepreneur, Big Corporate, University, Risk Capital) -- organizations or individual names are appropriate here. This should represent clear thinking about key stakeholders and leaders in your region necessary to make participation in this effort a success, and how you are able to engage them.
a. Government/Economic Development Representative
Typical profile: Currently part of an economic development team promoting entrepreneurship and innovation and is able to make or significantly influence policy and strategic programs. Regional and national governments should be represented as appropriate. Note: This person is usually the team champion and takes on a strong leadership role.
Typical profile: Current or former founder of a technology-based company who is a respected leader in the Entrepreneurial community and is able to work collaboratively with other key stakeholders. The entrepreneur should represent the voice of the customer in his/her ecosystem and this perspective will be critical in informing REAP strategy.
d. Corporate Representative
Typical profile: Employed by a large, influential corporation in your region and responsible for relationships with startups, regional innovation, or helping entrepreneurs through mentorship, partnerships, or investment.
1 - Submit Application to nominate Champion (rolling admission)
2 - Receive Admissions decision by MIT REAP committee
3 - Champion Submits Signed Letter of Agreement to reserve a spot in the 2014 Cohort (upon acceptance)
4 - Submit Final Team Application (deadline TBD)
5 - Submit First Tuition Payment (Following Agreement submission, deadline TBD)
The REAP Champion is the leader of his or her team and is deeply connected to the mission of inspiring innovation-based entrepreneurial ecosystems. This individual works in this capacity on a daily basis, and will understand the local landscape and which key players to engage to create the greatest impact. This individual will be critical in helping to build regional support for the program, assemble key players to serve on the regional REAP team of 5-7, secure funding for participation, and work closely with the MIT REAP staff team.
Though champions may come from many places and should be determined based on the regional context, our experience shows that successful champions often have the following profile: energetic, once-practicing Entrepreneurs now seated in a business-facing public policy, government, or economic development role, with strong ties to regional and national government and deep connections across stakeholders. This person should have a current organizational mission aligned with that of MIT REAP and a job role related to accountability for creating or implementing a regional strategy to accelerate regional prosperity and economic growth and development through innovation-driven entrepreneurship.
Each REAP team consists of 5-7 team members. The acceptance of regions into the MIT REAP Program is evaluated based on the strength and commitment of the champion and ability to engage core team members across the stakeholder groups.
These stakeholders should be decision-makers of executive level, and have the ability to influence the creation of policy and programs in their own sector, and they should bring an intimate understanding of the current ecosystem and its challenges from their perspectives. With participation comes responsibility. Each team member will take on the responsibility of being a Sector Chief, responsible for representing the interests of their sector, identifying opportunities, and working to build support in their sector to execute on various elements of their regional REAP strategy.
c. Risk Capital Expert
Typical profile: A leader of a local risk capital investment fund, and a representative of the landscape of risk capital in the region and its challenges and opportunities.
e. University Representative
Typical profile: An influential administrator or academic who is responsible for interacting with technology transfer, research and innovation, entrepreneurship education, and/or the university's engagement with the entrepreneurial ecosystem and the process of bringing ideas to market.