London had a problem. In 2013, the capital was a hotbed of entrepreneurship, rife with early-stage businesses—nearly 500,000 launching per year. It was ranked a top city for startups by Nesta’s European Digital City Index. Its visa connections, tax incentives, and multicultural demographics made it a prime place to launch companies.
But many of London’s small businesses couldn’t quite scale up after the initial launch. They lacked ongoing funding sources, access to new markets and customers, and the kind of cohesive mentorship frameworks that transform startups into sustainable forces. Business insiders lamented that potential stakeholders and investors—financiers, government, academia—often had trouble networking to foster ongoing growth. How could businesses thrive?
Catalyzing change through influential stakeholders
Enter the MIT Regional Entrepreneurship Acceleration Program, known as MIT REAP, a two-year global executive education initiative designed to facilitate economic growth, social progress, and job creation in promising regions worldwide.
Read the full article on the MIT Sloan website