Teams must have identified its Team Champion and funding sources
Early Decision applications are due July 31
Regular Decision applications are due September 30
Applications are reviewed and accepted by the MIT REAP Admissions Committee until the incoming Cohort is fully formed
Regular Decision applicants will receive admissions decisions in October
Accepted teams will sign relevant paperwork and pay its tuition deposit of 15% within 14 days from execution of the contract
**Typically, a higher percentage of applicants are accepted during the Early Decision period than during the Regular Decision period. Additionally, Early Decision applicants have the opportunity to receive feedback on their applications from Admissions Committee, and be re-considered during the Regular Decisions period if they are not accepted during the Early Decision round.
Profile of a REAP Team Champion:
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 up to 12, 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 up to 12 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. All team members must also speak English fluently to participate in the workshops.
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.