Management and Leadership

MIT Regional Entrepreneurship Acceleration Program

Dates:

Certificate Track: Management and Leadership

Participant Ratings

Overall:

| 5.0

Application:

| 5.0

Content:

| 4.0

Experience:

| 4.0

Applications for the 2014-2016 REAP cohort are now closed. If you are interested in a future session of REAP, please use the special REAP Application Form to apply. Applications will be processed on a rolling basis, and the application process will close once all eight regions have been accepted.

What is REAP?
The MIT Regional Entrepreneurship Acceleration Program (REAP) is a two-year program designed to help regions accelerate economic development and job creation.

MIT REAP serves to educate, engage, and enable teams from key regions around the globe in the development and execution of a well-designed acceleration strategy, focused on entrepreneurial activity that can enhance innovation-driven economic development and job creation.

To see the official MIT REAP website, click here.

Learning Experience
The REAP program enables regional team members to learn and collaborate with MIT experts, catalyze regional action, and leverage global best practice through cross-regional collaboration. Participants will attend highly interactive two-and-half day educational workshop twice each year. Between workshops, they will engage in significant action-oriented activities in their regions, leveraging faculty coaching and an online community of practice to enable regions to more effectively share analysis, execute action plans, and sustain impact.

Who Should Participate?
Through an application process, the selection committee will choose eight regions as members of each REAP cohort. Each region participating in REAP will assemble an initial cross-functional team of five to seven members.

Participants from these sectors will be executives and decision-makers with:

  1. An intimate understanding of their regional entrepreneurial ecosystem and their sector.
  2. The ability to influence the creation and implementation of policy and programs in their own sector.
  3. A demonstrated deep commitment to working with this diverse core team to impact strategic change in their regions.

Each REAP regional team will have at least one member represented from the following backgrounds:

  • Government/ Economic Development
  • Entrepreneurs
  • Risk Capital
  • Large Corporations
  • Universities

The Champion: One member of the team (often in the Government/Economic development role) will also play the role of the Champion and will lead the team assembly, secure funding, and ensure team applications are complete. The Champion will serve as the team leader throughout the two-year program and as the main point of contact with MIT staff.

For more information and to see REAP teams from around the world, please visit the official MIT REAP website.

Application Process:

Steps:
1
 - Submit Application to nominate Champion (rolling until limited slots are filled)
2 - Receive Admissions decision by MIT REAP committee
3
 - Champion Submits Signed Letter of Agreement to reserve a spot in the next cohort (upon acceptance)
4
 - Submit Final Team Application
5 - Submit First Tuition Payment

Please do not use the red "Apply Now" button at the top of the screen. Apply here instead.

 

REAP Participants will:

  • Understand key drivers of successful innovation-driven entrepreneurial (IDE) ecosystems.
  • Deploy MIT rigor and use frameworks to assess your region’s capacities and to evaluate the current entrepreneurial ecosystem as a foundation for further analysis, strategy, and implementation.
  • Build an interdisciplinary team to create and validate a vision of your region’s ecosystem at its full potential.
  • Compare and learn from other regions globally through case studies and cross-regional dialogue. Connect to an active community of practice and collaborate with other regions.
  • Design a REAP Acceleration Strategy to harness the power of innovation and entrepreneurship and accelerate growth in your region’s ecosystem.

"MIT's rich global experience with the practice of innovation-based entrepreneurship and creating companies, coupled with its faculty's thought leadership in developing a rigorous framework for other regions to do this more systematically, is a potent combination. We have already seen results from our ongoing discussions with the MIT Entrepreneurship Center, and we have a clear path to continue to expand our entrepreneurial capacity.

Alex Paterson
Chief Executive
Scottish Highlandsand Islands Enterprise

All team members should be at a decision-maker level, and have the ability to influence the creation of policy and programs in their own sector. Additionally, they must have an intimate understanding of the current ecosystem.

Each regional REAP team consists of 5-7 team members, and will be composed of the following:  

Entrepreneur
- Current or former founder of an innovation and technology-based company

Government/Economic Development
- Currently part of an economic or development team promoting entrepreneurship
- Able to make or significantly influence policy and programs

Corporation
- Employed by a large, influential corporation in your region
- Responsible for helping entrepreneurs through mentorship, partnerships, or investment

Risk Capital
- A decision maker responsible for investments in early-stage technology companies
- Understands the regional landscape of access to capital

University
- A professor, lecturer, or administrator who is responsible for interacting with research and/or entrepreneurship in a region's university or similar education institution
- Interacts with the process of taking ideas/technology to market

Learn more about team composition or view an example of a typical REAP team.

Application Process:
Applications are processed on a rolling basis. Applications will be accepted through July 1, 2013, however due to high interest, we expect the eight program slots to fill by spring as we will admit regions on a rolling basis. (Please do not use the red "Apply Now" button at the top of the screen.) Apply Now >>

  • Fiona Murray

    Associate Dean for Innovation; Alvin J. Siteman (1948) Professor of Entrepreneurship; Associate Professor of Technological Innovation, Entrepreneurship, and Strategic Management; Faculty Director, Martin Trust Center for MIT Entrepreneurship

    Professor Fiona Murray is the Associate Dean of Innovation at the MIT Sloan School of Management, Alvin J. Siteman (1948) Professor of Entrepreneurship and the Faculty Director of the Martin Trust Center for MIT Entrepreneurship. She is the Co-Director of MIT’s Initiative for Innovation. She is also an associate of the National Bureau of Economic Research. Her research interests focus on entrepreneurship, the commercialization of science, women in entrepreneurship and the economics of innovation. She has done extensive work with entrepreneurs, governments, large corporations and philanthropists designing and evaluating the policies and programs that shape vibrant entrepreneurial ecosystems: prizes competitions, accelerators, patent licensing rules and proof of concept funding programs. She works particularly closely with the British Government, serving on the No. 10 Advisory Group on Entrepreneurship. Her work is multi-disciplinary, drawing mainly on economics and sociology, and published in diverse journals: Science, Nature, New England Journal of Medicine, American Journal of Sociology, Organization Science, and Journal of Economic Behavior & Organization. After a short time on the faculty of Oxford University’s Said Business School, Professor Murray joined MIT Sloan where she is now Faculty Director of the Martin Trust Center for MIT Entrepreneurship. In this role, Fiona works on the design and delivery of entrepreneurship education at the undergraduate and graduate levels. She teaches the “Innovation Teams” course, which assembles teams of students from across MIT to learn the process of technology commercialization, with a focus on evaluating a technology’s potential for significant commercial and social impact. She has recently started the REAL course – Regional Entrepreneurial Acceleration Lab - which gives students practical and academic insights into the design and development of entrepreneurial ecosystems around the world. Murray holds a BA and MA in chemistry from Merton College, University of Oxford, and an MS in engineering sciences and a PhD in applied sciences from Harvard University.

  • William Aulet

    Senior Lecturer Managing Director, The Martin (1958) Trust Center for MIT Entrepreneurship

    Bill Aulet is a Senior Lecturer and Managing Director in the Martin Trust Center for MIT Entrepreneurship at the MIT Sloan School of Management. He conceived, developed, and teaches an MIT graduate-level class called “Energy Ventures,” which explores the new brand of entrepreneurship and innovation required to meet the energy challenge. He is also the chairman of the MIT Clean Energy Prize. A highly accomplished business leader, Aulet has a long track record of success. For over 25 years, he has raised more than $100 million in funding for his companies and has directly created hundreds of millions of dollars in market value. Aulet started his career at IBM and after 11 years was named a prestigious MIT Sloan Fellow. Upon graduation, he became a serial entrepreneur running two MIT spinouts as the president/chief executive officer of both Cambridge Decision Dynamics and then SensAble Technologies. The latter became a two-time Inc. Magazine 500 Fastest-Growing Private Company. With a presence in over 20 countries, SensAble also won more than 24 awards and was featured in Fortune Magazine, BusinessWeek, The Wall Street Journal, and many other publications for its innovative products and strong business foundation. In 2003, Aulet was recruited as chief financial officer to help turn around Viisage Technology, a security technology company with a dual focus in the areas of drivers’ licenses and facial recognition. During his tenure of two and a half years, Viisage developed a new strategy, overhauled its operations, made three major acquisitions, and executed two major fundraising rounds totaling over $55 million, including a highly successful public offering. During this time, the market value for Viisage increased from approximately $50 million to over $500 million. Aulet works around the world with single entrepreneurs trying to launch new ventures, and with large corporations—such as Danfoss, Hewlett-Packard, Microsoft, Mobilink, and Saudi Aramco—seeking to achieve their goals through entrepreneurship, intrapreneurship, and innovation. He also serves on the board of directors or advisors for a number of companies. Aulet is a regularly featured speaker at management leadership programs on topics such as entrepreneurship, intrapreneurship, entrepreneurial marketing, technology innovation, creating sustainable and rapid profitable growth, financing strategies, and operational excellence. He also contributes as an Xconomist on these subjects to the popular and respected blog: http://www.xconomy.com/. A former professional basketball player, Aulet lives in Belmont, Massachusetts with his wife and four sons. Aulet holds a BS in engineering from Harvard University and an MMS in business management from the MIT Sloan School of Management.

  • Scott Stern

    School of Management Distinguished Professor of Technological Innovation, Entrepreneurship and Strategic Management Professor of Technological Innovation, Entrepreneurship, and Strategic Management

    Scott Stern is the School of Management Distinguished Professor and Chair of the Technological Innovation, Entrepreneurship, and Strategic Management Group at the MIT Sloan School of Management. Stern explores how innovation—the production and distribution of “ideas”—differs from more traditional economic goods, and the implications of these differences for entrepreneurship, business strategy, and public policy. His research in the economics of innovation and entrepreneurship focuses on the drivers of commercialization strategy for technology entrepreneurs, the determinants of R&D productivity in both the public and private sector, and the role of incentives and organizational design on the process of innovation. He works widely with both companies and governments in understanding the drivers and consequences of innovation and entrepreneurship, and has worked extensively in understanding the role of innovation and entrepreneurship in competitiveness and regional economic performance. Stern started his career at MIT, where he worked from 1995 to 2001. Before returning to MIT in 2009, he held positions as a professor at the Kellogg School of Management and as a Senior Fellow at the Brookings Institution. Stern is the director of the Innovation Policy Working Group at the National Bureau of Economic Research. In 2005, he was awarded the Kauffman Prize Medal for Distinguished Research in Entrepreneurship. Stern holds a BA in economics from New York University and a PhD in economics from Stanford University.

DAY One SAMPLE
07:45 AM - 08:30 AMBreakfast and Registration
08:30 AM - 08:45 AMWelcome, Opening Remarks and Program Overview
08:45 AM - 09:45 AMIntroduction to MIT Innovation-Based Entrepreneurial Ecosystem Frameworks
10:00 AM - 11:45 AMParticipant Presentations by Region: An Introduction to Each Regional Ecosystem
11:45 AM - 12:30 PMFramework Lecture: Foundations of Innovative Capacity
12:30 PM - 01:30 PMLunch in Regions to Discuss Morning Material
01:30 PM - 02:30 PMWorking Session: Applying the Innovative Capacity Framework to Your Region
02:30 PM - 03:00 PMLateral Learning Session: Presentations by Selected Regions on Innov Capacity w/ Q & A
03:30 PM - 04:30 PMLeveraging Comparative Advantage: A Biotech Case Study
04:30 PM - 05:30 PMA Global Perspective: Comparative Advantage Across Regions
05:30 PM - 06:00 PMWrap-Up
07:00 PM - 09:00 PMKeynote Speaker & Dinner
DAY Two SAMPLE
08:00 AM - 08:30 AMBreakfast
08:30 AM - 09:15 AMFramework Lecture: Foundations of Entrepreneurial Capacity
09:15 AM - 10:15 AMWorking Session: Applying the Entrepreneurial Capacity Framework to Your Region
10:15 AM - 10:45 AMLateral Learning Session: Presentations by Selected Regions On Ent Capacity w/ Q & A
11:00 AM - 12:30 PMMIT Deep-Dive Module: How to Foster Your Ecosystem Through Competitions and Prizes
12:30 PM - 01:30 PMLunch: Cross Regional Breakouts (3 groups)
01:30 PM - 02:30 PMOverview Lecture: The Development of & Impact of the Massachusetts & MIT Ecosystem
02:30 PM - 05:30 PMExperiential Learning: Tour of Boston/Cambridge Ecosystem
06:30 PM - 07:15 PMMingle with Key Leaders in the Local Boston Ecosystem
07:15 PM - 08:30 PMDinner and Keynote Speaker
DAY Three SAMPLE
08:00 AM - 08:30 AMBreakfast
08:30 AM - 09:45 AMFramework Lecture: Linkages - Confronting the Challenge of Collaborating Across Sectors
10:00 AM - 11:15 AMTurning Workshop I Into Action: Regional Breakout Session to Determine Next Steps & Specific Plans for Action Phase I
11:15 AM - 12:30 PMPresentation of Regions' Commitments and Action Plan for Action Phase 1
12:30 PM - 01:30 PMBoxed Lunch, Wrap Up and Next Steps

    This is an outstanding program that has the possibility of changing the future of entruprenurship, job ceration and economic development across the world. It brings diverse groups of people together to solve the complex problem of creating an entrepreneurial platform in a country and region. Participaents include government , large business, entruprenures, funding entities, and universities. The program allows this group of people to gain knowledge of MIT's experiance and succes in building entrepreneurial platforms and combine it with the unique set of circumstance, cultural uniquness and current opportunites. Building on this rich set of data, the program facilitates tapping into the collective intelligence of all participents to solve this challenge and determine the right actions which will deliver a successful and prosperous economic platform. Finally, the program is executed over 2 years enabling the MIT facaulty to coach the team on actually implementing the right solution for thier unique set of circumstance, putting theory into action and delivering real value for everyone. This is the first time the course ifs being offered, so their are some poitnts of learning, but the faculty is very willing to listen and improve. This is an incredible experiance I would highly recommned!