Entrepreneurship

MIT Entrepreneurship Development Programme (EDP) 2019 Competition Terms and Conditions

Any information provided in the online application form may be shared with staff of Highlands and Islands Enterprise (HIE), faculty members of the Martin Trust Center at MIT, MIT Industrial Liaison Program (MIT ILP) staff, Scottish Development International staff and other members of the Scottish delegation on the MIT EDP 2019 visit. Please do not submit any confidential or commercially sensitive information that you are not willing to share with this group.

Companies account managed by HIE must have the support of their HIE Account Manager in applying for a sponsored place at MIT EDP 2019. Your application will be shared with them and they will be asked to provide a supporting statement for you.

If you are not account managed by HIE, you must be a past or present participant on either the HIE 30 under 30 Accelerator or the HIE Pathfinder Accelerator. 

All eligible applications will be judged by a panel of representatives from HIE.  Shortlisted applicants will then be required to attend an interview lasting approximately 45 minutes which will take place at HIE, An Lochran, Inverness Campus, Inverness, IV2 5NA on 29 or 30 October 2018. Shortlisted applicants will be advised by Friday 5 October 2018 and invited to select an interview slot on one of these two.  Interviews will be allocated on a first come, first served basis. Please keep the potential interview dates clear in your diary. The interview panel will consist of representatives from HIE and a presentative from a company who has participated on MIT EDP in a previous year.  

The best entries, as judged by this panel, will be awarded a sponsored place on the MIT Entrepreneurship Development Programme (EDP) 2019 from 17 – 25 January 2019. The visit to Boston will take place from 17 – 25 January 2019 so please ensure you are available for these dates before entering the competition.

The judges’ decision is final and no correspondence will be entered into. Account Managers of successful and unsuccessful applicants will be advised by Thursday 1 November 2018 and asked to confirm they are happy for a place on MIT EDP 2019 to be offered to their client and the support intervention rate confirmed. Successful and unsuccessful applicants will then be notified by email by Friday 2 November 2018.

Successful applicants are required to attend the pre-MIT EDP briefing and networking session during week beginning 19 November 2018 in Inverness.   Please keep this date in your diary free.

The inability to contact a potential winner of a sponsored place may result in disqualification and selection of an alternate winner.

The financial value of the prize is approximately £10,000 (please note the exchange rate is subject to some fluctuation). This includes the course fees, return travel from Inverness, Aberdeen, Edinburgh or Glasgow to Boston and accommodation during the 10 day visit.  Added value from attending on a HIE sponsored place comes from additional networking meetings arranged through HIE’s membership of MIT’s Industrial Liaison Program.  

In order to comply with the competition rules and EU state Aid rules, participating existing businesses account managed by HIE will be expected to contribute 30% of the total cost of attending the course (course fees, plus flights and accommodation) which is expected to be in the region of £3,000 per participant. The actual subsidy may have to be reduced in order to stay within the State Aid Regulations for large companies with over 250 employees or turnover above £50 million.  Participants will be invoiced for their contribution in March 2019 by HIE.

For companies eligible to receive 70% support, this support (approximate value of £7,000) will be given under the Training Aid scheme. For companies eligible to receive 100% funding (approximate value £10,000) this support will be given under the Training Aid scheme.

New entrepreneurial companies that meet all of the following criteria may be considered for full funding support under De minimus State Aid rules:

- Less than 3 years since registration,
- Pre-revenue or less than £50k revenue to date,
- At seed stage investment or earlier.

Participants are required to have a current, valid, machine readable passport. Participants are expected to obtain their own travel insurance appropriate for the trip and are responsible for obtaining an Electronic System for Travel Authorisation (ESTA) to gain entry to the US. Participants are personally responsible for their Visa to the US and should ensure they are eligible for a US visa prior to accepting the prize.

The cost of travel from their home office location to Boston and return plus overnight accommodation from Thursday 17 January until Friday 27 January 2019 will be covered by HIE. Any other costs incurred during the trip for subsistence, meals and any personal expenses during the visit are to be covered by each individual’s company. Any extra travel costs or accommodation costs incurred by individuals extending their trip to the US before or after the MIT EDP 2019 course are also at the company’s own expense.

Withdrawal from the visit following notification and acceptance of the prize will leave the winner eligible for any booked travel and accommodation costs.

Should any participants have any dietary, mobility or medical requirements, please ensure that HIE is notified of this in advance of the visit.

Participants are requested to join in with the full visit programme as scheduled by HIE and take part in the group activities and networking opportunities in order to gain most value from the visit.  HIE expect a professional level of behaviour from all group members during the visit as the behaviour of the Scottish cohort during the visit.

On return from the visit to MIT, the participating businesses will be required to produce a short reflective report on the trip, describing the benefits of the visit and how they will apply the learning to their business. A template report structure will be provided. This report must be submitted to HIE by Friday 28 February 2010. In addition, the successful companies will be requested to share their experience with other aspiring Scottish entrepreneurs and for promotional purposes when requested to by HIE.

HIE will do external PR activity around the competition and the successful applicants. This will involve listing names and companies on websites, press articles and social media activity, using photos where supplied. Where HIE receives specific requests for interviews, individuals will be informed in advance.

By submitting an application and entering this competition, you herby grant the sponsor (Highlands and Islands Enterprise) the right to use, publish and distribute your entry and any promotional photographs supplied or taken in connection with the promotion of the partnership with MIT.  Further, none of the entry materials submitted by you will be treated as confidential, so please do not submit any proprietary information.

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