Loughborough University joins MIT in global entrepreneurship initiative

Loughborough University has been invited to participate in a two-year global initiative, recently launched at Massachusetts Institute of Technology (MIT) in the US, to promote innovation-based entrepreneurial ecosystems.

Loughborough University was invited to participate in recognition of the contribution that the new Loughborough University in London campus aspires to make in supporting innovation and enterprise growth in London.

The programme – called REAP (Regional Entrepreneurship Acceleration Programme) – is designed for key stakeholders who lead and contribute to regional efforts to promote entrepreneurial ecosystems.

Each REAP regional team comprises representation from government/ economic development, entrepreneurs, risk capital, large corporations and universities. The mix of attendees at the launch was, therefore, diverse, including chief executives and founders of global corporations and high-tech start-ups, alongside ministers and university presidents. The London delegation included Brent Hoberman, who, together with Martha Lane Fox, founded Lastminute.com in 1998.

Upon acceptance into this program, members belong to a select group of regions committed to accelerating their ecosystems and contributing to a collaborative network of learning and support. A total of nine regions are participating alongside London, including Moscow, Qatar, Rio, Seoul, Singapore and Valencia.

Member regions are supported by MIT Faculty to analyse their regions and to benchmark innovation and entrepreneurship related performance measures against global comparators. The regions work collaboratively to share and learn from global experiments and connect to an ongoing community of practice.

The London team, which is sponsored by Royal Bank of Scotland and UK Trade and Investment, is committed to developing an action plan for London and will be implementing new initiatives to cultivate the London entrepreneurial ecosystem over the next two years.

Professor Mike Caine, Dean of Loughborough University in London, said: “The REAP programme brings together an eclectic mix of individuals and organisations, unified by a common purpose.

“This is a compelling initiative and it is gratifying that Loughborough University in London, with the Glendonbrook Centre for Enterprise Development, based in Loughborough’s School of Business and Economics, is able to contribute to this global community.

“We look forward to collaborating with MIT in helping to shape and grow London’s knowledge economy and to assisting others to do the same in their respective regions.”

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