Regions can apply to join the next MIT Regional Entrepreneurship Acceleration Program (MIT REAP) Cohort at any point during the year. A new cohort of up to 8 regions starts every summer with applications due in January.
Once a regional Champion(s) has decided to apply to MIT REAP, they will need to go through a 4 step process, which involves: forming a team and submitting an application, receiving an admissions decision, signing contracts, and then securing and submitting funding.
Applying to MIT REAP is no trivial task. It requires much forethought and engagement with each of the stakeholders that the regional mion hopes to involve in the 2-year commitment and beyond. Regional Teams must have included representatives from all 5 key stakeholder groups: university, government, corporate, risk capital and the entrepreneurial community. Please see the following resources for assembling your regional Team:
The official REAP Team 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 5-8, 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.
Team Assembly Information
Each REAP Team consists of 5-8 (8 maximum) team members. The acceptance of regional Teams into MIT REAP 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 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 Team strategy.
Participation in MIT REAP is contingent on paying the MIT REAP tuition fee. Tuition may be funded by the Champion Organization and/or sourced from other partners, though our experience has been that Teams are most effective when most, if not all, partners are financially involved. Teams will typically split the payment amongst all partner organizations on the REAP Team. Please feel free to contact us if you would like to discuss tuition fee payment options.
Submit Application to MIT REAP and nominate Team Champion (rolling admission) – Deadline of January 31st
Receive Admissions decision by MIT REAP committee – March
Champion Submits Signed Letter of Agreement to reserve a spot in the next Cohort (upon acceptance) – April