Five Nova Scotia Regions Learning and Implementing MIT’s Evidence-based Approaches to Innovation and Entrepreneurship

HALIFAX, NS – May 26, 2021 – Teams representing five Nova Scotia regions are participating in a tailored version of the renowned Massachusetts Institute of Technology Regional Entrepreneurship Acceleration Program (MIT REAP). This global initiative engages with communities to boost innovation-driven entrepreneurial ecosystems to help transform economies.

In collaboration with the Organization for Nova Scotia Innovation-Driven Entrepreneurship (ONSIDE), MIT REAP Focus Nova Scotia will help the province grow its local economies through evidence-based and practical approaches to strengthening regional capacities for innovation and entrepreneurship. Through the one-year Focus program, Nova Scotia is leveraging findings from the province’s participation in Cohort 4 (2016-2018) of MIT REAP’s Global program. 

“Nova Scotia has a high potential for innovation,” said Alex McCann, Executive Director, ONSIDE. “The MIT REAP Focus Program has brought together some of the most resourceful and committed members of our communities to turn this capacity into strategies and action that can drive real economic and social prosperity for our province. This is especially crucial as we navigate through a global pandemic and our economic recovery.”

ONSIDE worked with One Nova Scotia and MIT REAP to develop the program, which is putting community at the center of the momentum toward economic change and deepening innovation-driven entrepreneurship across a larger geographical area of our province for more inclusive economic growth.

Each of the five participating regions – South Shore, Cape Breton/Strait Area, Pictou, Valley and Western – is represented by a team of ten core members who comprise the five major stakeholder groups of MIT REAP’s Innovation Ecosystem Stakeholder Model. Members include entrepreneurs, corporates, risk capital, governments and post-secondary institutions. The core teams are supported by individuals and organizations within their communities to drive meaningful, long-term economic and social progress.

The MIT REAP Focus Nova Scotia teams are tasked with uncovering their regional characteristics and comparative advantages, and developing strategies for innovation and entrepreneurship that align with local needs. The teams are focused on building upon existing local strengths and bolstering networks by working collaboratively with their wider communities, which research has shown to be the basis for modern economic growth. 

Over the course of this year, they are learning world-class approaches while examining their regions and drawing strategies for change, and are on-track to complete MIT REAP in December 2021. 

ONSIDE’s work in regional ecosystem acceleration is supported by the Atlantic Canada Opportunities Agency (ACOA), the Province of Nova Scotia, and community partners across Nova Scotia. 

More Details:

Some of the results of Nova Scotia’s participation in MIT REAP Global (2016-2018) included the creation of ONSIDE; growth of Innovacorp and VOLTA; the creation of the Emera Idea Hub; and factored into Atlantic Canada winning the bid to host Canada’s Ocean Supercluster. ​

Each region participating in MIT REAP Focus Nova Scotia was selected based on recommended MIT criteria including, but not limited to, their current level of innovation, entrepreneurship, readiness to participate, and diversity. 

Regions from across the globe are carefully vetted for acceptance to MIT REAP’s Focus program and must pose a particular “urgency for change” or problem area in their region’s overall system that they want to see addressed. The MIT REAP faculty and staff then work with Focus teams to overcome regional challenges that are hindering the growth of their innovation-driven entrepreneurial (IDE) ecosystem by identifying the comparative advantages and acceleration mechanisms required to promote innovation and entrepreneurship.

Quotes:

“It’s so exciting to see rural Nova Scotians bringing their skills, knowledge and networks together to help realize the region’s innovation potential. Our government is proud to help ONSIDE pave the way for strong, inclusive economic growth through innovative programs like MIT REAP Focus Nova Scotia,” said the Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for South Shore – St. Margarets, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA.

“MIT REAP faculty collaborate with key regional stakeholders to develop solutions that are compatible with the region’s history, culture, and key regional drivers of innovation and entrepreneurship,” said Fiona Murray, MIT REAP Faculty Co-Director, William Porter Professor of Entrepreneurship, and MIT Sloan Associate Dean for Innovation and Inclusion. “We are excited to offer a more customized, local vision of MIT REAP’s mission to Nova Scotia and future Focus team regions. I’m delighted that MIT colleagues including Professor Scott Stern and Dr. Phil Budden will be leading our work along with me as well as the MIT REAP staff, with support from our ONSIDE collaborators.”

Scott Stern, MIT REAP Faculty Co-Director and David Sarnoff Professor of Management at the MIT Sloan School of Management, and Faculty Director of the Martin Trust Center for MIT Entrepreneurship, said, “The entrepreneur is a problem solver in all senses of the word. Through calculated risks and pragmatic action, they address issues in the business sector, healthcare, education, and more. The goal of MIT REAP Focus in Nova Scotia is to generate local-specific strategies and tools that entrepreneurs across the province need to drive meaningful economic and social change.”  

Media enquiries: 

Sharon Ishimwe

sharon@onsidenow.ca

+1 902 989 2952