Premiere of Queensland Brings MIT Back to Australia

CAMBRIDGE, Mass., June 5, 2018 /PRNewswire-USNewswire/ -- The Premier of Queensland, Annastacia Palaszczuk, announced today that Queensland will be hosting a weeklong set of key innovation and entrepreneurial ecosystem building activities led by Massachusetts Institute of Technology (MIT) in early 2019. The Premier was also joined by mayors representing many of the regional economies within Queensland that included Councillor Mark Jamieson, Mayor of Sunshine Coast Regional Council; Councillor Allan Sutherland, Mayor of Moreton Bay Regional Council; Councillor Jenny Hill, Mayor of Townsville City Council; Councillor Margaret Strelow, Mayor of Rockhampton Regional Council; Councillor Matthew Burnett, Mayor of Gladstone Regional Council; and Councillor Jack Dempsey, Mayor of Bundaberg Regional Council.

MIT REAP Team Queensland, including representatives of Queensland University of Technology, Queensland Government, RedEye, Blue Sky Ventures, and Rio Tinto will host a three-day MIT REAP Workshop from January 29 - February 1, 2019. This 3^rd Workshop for Cohort 5 of MIT REAP will draw attendees from eight global regions including Algeria, Ghana, King Abdullah Economic City (Saudi Arabia), Lebanon, Melbourne (Australia), Quito (Ecuador), Yakutia (Russia), and of course Queensland. Diverse global stakeholders will attend from each of these regions, ranging from government, risk capital, academia, corporate, and the entrepreneurial community, to learn about the strategic interventions the regions are implementing.

"Hosting this workshop in Queensland will allow us to showcase the state's emerging innovation ecosystems and provide delegates an opportunity to learn how Queensland is building an innovation economy in a highly dispersed state," jointly stated by Premier of Queensland, Annastacia Palaszczuk, and Minister for Innovation and Tourism Industry Development, Kate Jones who both made recent visits to MIT.

During her visit, the Premier was also joined by mayors representing many of the regional economies within Queensland that included Councillor Mark Jamieson, Mayor of Sunshine Coast Regional Council; Councillor Allan Sutherland, Mayor of Moreton Bay Regional Council; Councillor Jenny Hill, Mayor of Townsville City Council; Councillor Margaret Strelow, Mayor of Rockhampton Regional Council; Councillor Matthew Burnett, Mayor of Gladstone Regional Council; and Councillor Jack Dempsey, Mayor of Bundaberg Regional Council.

Part of MIT REAP Team Queensland's plan is to create sustainable growth in mining, energy and agribusiness sectors through technological disruption across the region of Queensland. In order to move the region towards sustainable growth the regional stakeholders will need to overcome barriers to innovation and broaden the relationships that facilitate stronger knowledge transfer. After a year of rigorous analysis of the existing innovation and entrepreneurial ecosystem as well as input from local entrepreneurs, REAP teams are now entering the stage where they will decide on and implement multiple strategic interventions to catalyze entrepreneurship in their region. These interventions will hopefully eliminate bottlenecks in the system and allow entrepreneurs to get the support they need to start, grow and scale their business.

"Ultimately, driving towards economic prosperity and social progress," said Scott Stern, MIT Sloan School of Management, David Sarnoff Professor of Management and co-Founder of MIT REAP.

This week of activities will be book ended by ecosystem tours and multiple events to highlight what makes Queensland unique.

"Hosting a workshop is a huge opportunity to bring together key leaders and visionaries in Queensland and more broadly Australia to move the entire innovation ecosystem forward," said Sarah Jane Maxted, Director of MIT REAP.

The 'MIT week' will continue in the region through MIT Bootcamp, which will also be held in Queensland from February 2-8, 2019 (sign up here for updates). Two main features of the MIT REAP workshop will include a tour of Brisbane's ecosystem to see what programmatic infrastructure currently exists to support a growing entrepreneurial hub. MIT REAP Team Queensland will also host a Global Innovation Gala Dinner to celebrate the collection of diverse stakeholders and bring together leaders from the greater regional ecosystem.

About MIT REAP. The MIT Regional Entrepreneurship Acceleration Program (MIT REAP), an initiative of MIT Sloan Global Programs, provides opportunities for communities around the world to engage with MIT in an evidence-based, practical approach to strengthening innovation-driven entrepreneurial (IDE) ecosystems.

About MIT Open Learning. The mission of MIT Open Learning is to transform teaching and learning at MIT and around the globe through the innovative use of digital technologies.

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SOURCE MIT Sloan School of Management

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