CAMBRIDGE, Mass., May 10, 2022 /PRNewswire/ — Today the MIT Regional Entrepreneurship Acceleration Program (MIT REAP) announced the launch of Cohort 9 of its Global program, which includes teams of participants from the following regions:
- Des Moines, Iowa, USA
- Dominican Republic
- Kansas City, Missouri, USA
- Omaha, Nebraska, USA
- Piauì, Brazil
- St. Louis, Missouri, USA
- Western Australia
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. Each team follows MIT REAP’s Innovation Ecosystem Stakeholder Model, with members representing the five major stakeholder groups that, in collaboration, can drive forward an IDE ecosystem: university, government, corporate, risk capital, and entrepreneurs. “We’re thrilled to welcome leaders from such a diverse group of regions into Cohort 9,” said Travis Hunter, Director of MIT REAP. “Now in our tenth year, we look forward to sharing the learnings and impact of our global alumni community with our incoming teams and seeing the momentum they will bring to their own regions’ IDE ecosystems.”
2022 marks a decade since MIT REAP was established, and its return to in-person programming since the start of the pandemic. Cohort 9 also introduces a new innovation to the program, featuring a group of teams that are representing the same region. Hailing from the Heartland Region of the USA are Cohort 9 Teams Des Moines, Kansas City, Omaha, and St. Louis, who were recruited with support from the Ewing Marion Kauffman Foundation.
“MIT REAP works with global regions to identify their unique history and goals and create compatible pathways for both bringing innovations to the market and building a culture of 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 community leaders from the five key stakeholder groups and working closely with the MIT REAP faculty, each region is able to target its capacities and opportunities for growth, design an actionable strategy that is broadly inclusive of stakeholders in the innovation and entrepreneurial ecosystem, and launch new programs or policies that will produce measurable economic results.”
“No one is in charge of entrepreneurship,” said Professor Scott Stern, MIT REAP Faculty Co-Director, David Sarnoff Professor of Management, and Faculty Director of the Martin Trust Center for MIT Entrepreneurship. “Instead, multiple stakeholders are required to tackle big problems and enable the success of novel solutions – across business, healthcare, education, and more. MIT REAP is designed to help teams identify their region’s comparative advantage, engage a network of regional leaders, and build a strategy for accelerating IDE and creating real value and impact. After delivering the program for ten years to more than 70 global teams, we know this regional approach works – and we look forward to working with the eight diverse Cohort 9 teams to develop unique strategies for their regions.”
The MIT Regional Entrepreneurship Acceleration Program (reap.mit.edu), an initiative of the MIT Sloan School of Management, provides opportunities for communities around the world to engage with MIT in an evidence-based, practical approach to strengthening innovation-driven entrepreneurial (IDE) ecosystems. Since 2012, MIT REAP has helped over 70 regions worldwide strategize and execute initiatives that contribute to their economic growth, job creation, and social progress.