Entrepreneurship

MIT Entrepreneurship Development Programme 2018

The call for applications for sponsored places for HIE account managed companies on MIT Entrepreneurship Development Programme (EDP) 2018 is now open.

Apply now >

What is it?

The MIT Entrepreneurship Development Programme (EDP) is a week long, high level, intensive executive education course teaching skills for high impact entrepreneurship. It is held onsite at the Massachusetts Institute of Technology (MIT) in Boston in January each year. The course is aimed at highly ambitious entrepreneurs from businesses with international potential who want to learn from the best and be the best.

HIE has secured 5 places on the EDP 2018 course for the most ambitious entrepreneurs in the Highlands and Islands which will be available on a competitive basis. The successful companies will travel to Boston for a 10 day visit in January 2018 to take part on the course. There will also be a wraparound programme of visits and events in and around MIT to make valuable connections in the Boston ecosystem.

MIT EDP is a globally renowned course which blends cutting edge academic learning with practical team work exercises, live investment pitching, best practice company visits and international networking. The five day course is led by serial entrepreneur and MIT Sloan Senior Lecturer Bill Aulet and takes participants through the entire Innovation Driven Enterprise (IDE) venture creation, growth, investment and exit process, teaching core skills of entrepreneurship and the latest thinking in this space. The concepts are taught through lectures, workshops and keynotes from high profile entrepreneurs and then participants are encouraged to apply the learning immediately in simulated exercises that test their thinking.

The course introduces participants to MIT’s vibrant entrepreneurial culture; world class commercialisation and technology transfer system and connects participants to a global entrepreneurial network. Participants learn how to break down the elements of successful business growth into a step by step process and how this formula for success can be applied to their own business or organisation.

Watch the video about Bill Aulet's own experiences of entrepreneurship and how he passes his learning on through the MIT EDP programme.

What are the business benefits?

The EDP covers topics such as creating and capturing value, entrepreneurial marketing, customer personas, how to select and deselect markets through evaluating market opportunity, how to finance an entrepreneurial company, successful pitching and selling strategies, innovative product development and developing unique selling propositions (USPs). Through a combination of high impact interactive teaching, company meetings, team assignments, pitching practice, listening to world renowned guest speakers and visiting simulation laboratories,  participants are immersed in MIT’s entrepreneurial culture. They are exposed to the greater Boston business ecosystem and learn what they need to know in order to accelerate their business growth strategies.

MIT EDP will allow participants to:

  • Create, identify, and evaluate new venture opportunities
  • Interpret customer needs and quantify the value proposition
  • Start and build a successful company
  • Understand how the process of starting new ventures may vary geographically and culturally.
  • Develop winning business plans
  • Scale companies to be globally successful
  • Navigate the venture capital investment process
  • Obtain feedback on personal entrepreneurship skills
  • Enhance and expand their networks

More information about the MIT EDP is available on the MIT website >

How do we deliver this service?

The MIT EDP course is taught over an extremely intensive week. In order to help the cohort of companies from the Highlands and Islands gain the most value from the visit to North America, there will be a number of additional events organised by Highlands and Islands Enterprise for participants outside of the MIT EDP programme to expand their network and understanding of business in the USA.

Individuals are also encouraged to consider extending their visit and set up targeted meetings with relevant businesses, customers, investors or partners. This can be facilitated with the support of Highlands and Islands Enterprise.

Want to enhance your presentation and pitching skills?

To help participants from the Highlands and Islands make the most of the MIT EDP experience, HIE is offering coaching on presentation and pitching skills. Companies or social enterprises shortlisted to attend an interview for a place on MIT EDP are being offered one to one coaching by telephone or Skype on presentation strategy, preparation and delivery. The training will be delivered by Maryanne Johnston, a communications expert, and will equip individuals with the skills to communicate in a relaxed and confident style. Companies selected for a HIE sponsored place will also receive one to one coaching to deliver a compelling 60 second  pitch. These skills are transferrable to a business context and will enable participants to achieve a greater impact with their customers, stakeholders and suppliers.

How much does it cost?

The MIT EDP course fee is $11,400 per person. The financial value of the prize is approximately £10,000. This includes the course fee, return travel from Inverness or any other Scottish airport to Boston, accommodation during the 10 day visit and sponsored networking dinners with the cohort. Added value from attending through a place sponsored by Highlands and Islands Enterprise comes from the additional networking meetings arranged with the wider business network in Boston. This may include meetings organised with GlobalScots, UKTI, the MIT faculty and researchers and the MIT EDP alumni cohort.

In order to comply with the competition rules, participating existing businesses will be expected to contribute 30% of the total cost of attending the course (course fee, flights and accommodation costs) which is expected to be approximately £3000 per participant. Please note the exchange rate is subject to fluctuation so the total cost may be subject to some change. 

Timeline

  • Deadline for applications - Friday 29 September 2017
  • Shortlisted applicants advised by - Monday 9 and Tuesday 10 October 2017
  • Applicants advised of interview outcome - Friday 3 November 2017
  • Pre EDP Meeting - Late November TBC
  • MIT EDP 2018 visit: Thursday 25 January - Sunday 4 February 2018

Contact

For further information contact Louise MacDonald at Highlands and Islands Enterprise on 03000 132545 or email louise.macdonald@hient.co.uk

Applications now open.

Apply now >

Applicants must read and accept the Terms and Conditions > 

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