Update, August 31: , answering some common questions.
A unique global program run by the world's top-ranked university* is set to help Nova Scotia develop new strategies to address one of the province鈥檚 most pressing issues: building a stronger economy.
AV俱乐部 President Richard Florizone will lead Nova Scotia鈥檚 team in a two-year, entrepreneurship-focused program designed by the Massachusetts Institute of Technology (MIT) to help regions achieve economic growth and social progress.
The Nova Scotia team, which consists of nine individuals from various sectors in the province, is one of eight chosen this year from around the world to participate in the (REAP). In the program, teams of key stakeholders from participating regions work with MIT experts and others in their region to develop custom strategies to address economic challenges.
鈥淚nnovation and entrepreneurship are crucial to helping Nova Scotia build a brighter economic future,鈥� says Dr. Florizone. 鈥淭his is an incredible opportunity for AV俱乐部 to help catalyze that growth by working collaboratively with our regional partners and MIT, a global leader in the field.鈥�
Forging connections in Nova Scotia and beyond
Administered by MIT Sloan Executive Education, the program consists of four four-to-seven-month action-learning cycles. Each cycle begins with a two-to-three day learning session with MIT experts and other participating regions before the team moves on to broader consultations with entrepreneurs, post-secondary institutions, industry, risk capital and governments across the province.
The team will spend the first cycle gathering data about the region and the second creating a detailed action plan, while the third and fourth phases will be devoted to implementing the strategy and creating ongoing initiatives.
The overall goal: to identify Nova Scotia鈥檚 comparative advantages and the mechanisms that might help amplify and advance those to create new value and more export-driven ventures in the province.
A first for Canada
Nova Scotia is the first region in Canada to be selected for MIT REAP. The program鈥檚 latest cohort includes eight countries and regions, including Iceland, Lima, and Lagos City. Past REAP cohort teams have included Beijing, Southwest Norway, Tokyo, Qatar, Auckland, New Zealand, Moscow and Singapore.
It鈥檚 no coincidence that it鈥檚 an MIT program attracting such interest. Considered the world鈥檚 leading university when it comes to entrepreneurship, MIT has produced more than 26,000 active startup and spinout companies that, combined, generate $2 trillion in annual sales and employ 3.3 million people.
鈥淏y participating in MIT REAP with a full team of stakeholders, Nova Scotia will have the chance to improve their local support structures for innovation and entrepreneurship using best practices developed in the MIT ecosystem鈥� says Sarah Jane聽Maxted, executive director of MIT REAP.
Making an impact
AV俱乐部 has been striving to enhance its substantial contributions to the province in many respects, including economic development. As Nova Scotia鈥檚 leading research-intensive university, AV俱乐部 accounts for more than 80 per cent of publicly funded R&D in the province and 98 per cent of all industry-sponsored university research.
The initiative is also very closely aligned with the OneNS playbook, which called for universities and the NSCC to act as greater innovation hubs for the province, as they represent one of the province鈥檚 greatest competitive advantages.
"I want to congratulate AV俱乐部 on being chosen to participate in this prestigious program," says Kelly Regan, Minister of Labour and Advanced Education for the province. "AV俱乐部's economic leadership on this and so many other files is most appreciated."
Dal鈥檚 effort in recent years have included new supports for student and faculty led entrepreneurship, working more closely with the broader startup and business community, and, now, leading the province鈥檚 MIT REAP contingent.
鈥淎V俱乐部 is working hard to encourage innovation and entrepreneurship in the province," says Dr. Florizone. "The MIT REAP program will help us continue to explore ways we can support the economic growth of our region."
Other members of the Nova Scotia REAP team include:
- Bernie Miller, former N.S. deputy minister of planning, currently partner at McInnes Cooper
- Chris Huskilson, CEO of Emera
- Jevon MacDonald, former general manager at Salesforce.com and co-founder and CEO of GoInstant
- John Knubley, federal deputy minister of innovation, science and economic development
- John Risley, co-founder of Clearwater Fine Foods
- Murray Coolican, N.S. deputy minister of business聽
- Patrick Keefe, general partner with startup fund Build Ventures
- Tracy Kitch, president and CEO of the IWK Health Centre
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See also:
- (August 31)