Seven Teams Across 5 Continents Represent the Next Leaders in Innovation-Driven Entrepreneurship with the Launch of MIT REAP Cohort 11

CAMBRIDGE, Mass., Nov. 13, 2024 /PRNewswire/ -- Today, the Massachusetts Institute of Technology's Regional Entrepreneurship Acceleration Program (MIT REAP) announced the launch of the eleventh cohort of its renowned Global program, which includes teams of senior leaders from the following regions:

• Botswana, Africa
• Edmonton, Alberta (Canada)
• Heilbronn – Franconia, Germany
• Hualien, Taiwan
• Miami, FL (USA)
• Michigan (USA)
• Valparaiso, Chile

MIT REAP Global teams participate in a two-year program focused on accelerating innovation-driven entrepreneurship (IDE) in their regional innovation ecosystems through undertaking an in-depth innovation and entrepreneurship capacity assessment, designing an acceleration strategy grounded in regional comparative advantages, and implementing a new program or policy to drive their ecosystem forward.

"We are thrilled to welcome these seven exceptional teams from across five continents into Cohort 11 of our Global Program," said Travis Hunter, Director of MIT REAP. "Each team underwent a rigorous selection process, demonstrating their region's urgency for change and their commitment to driving innovation-driven entrepreneurship in their ecosystems. Cohort 11 represents a diverse global footprint that will undoubtedly enrich our program."

Each team follows MIT REAP's Innovation Ecosystem Stakeholder Model, with members representing the five major stakeholder groups that, in collaboration, can drive impact on IDE ecosystems: university, government, corporate, risk capital, and entrepreneurs. MIT REAP teams collaborate with other regions within and across their Cohort, including a rich alumni community spanning twelve years of the program and more than 100 participating regions.

"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.  We look forward to working with the diverse group of Cohort 11 teams to develop unique strategies for their regions."

Get Involved

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 100 regions worldwide strategize and execute initiatives that contribute to their economic growth, job creation, and social progress.

Applications for MIT REAP Global Cohort 12 are now open. Learn more and apply here. 

For more information on MIT REAP, contact Associate Director, Kavan O'Connor at kavan@mit.edu.

Photo - https://mma.prnewswire.com/media/2553258/Sloan_MIT_Standing.jpg
Photo - https://mma.prnewswire.com/media/2553259/Sloane_MIT_Group.jpg
Logo - https://mma.prnewswire.com/media/2553312/5016870/MIT_Management_REAP_Logo.jpg