RU in cooperation with MIT to promote economic growth through innovation
Reykjavik University and the Ministry of Industries and Innovation will for the next two years be involved in an international project with MIT, Massachusetts Institute of Technology, that aims to create jobs and promote economic growth in Iceland with innovation.
The REAP project (Regional Entrepreneurship Acceleration Program) is a two year project that MIT has already implemented and worked on with a number of cities and regions around the world. Among the cities and regions that have participated in previous projects are Scotland, Finland, London, Qatar, Beijing and southwestern Norway.
The REAP project involves in-depth analysis of the environment for entrepreneurship and innovation in Iceland. An action plan will be submitted on how to increase innovation in Iceland. This approach is based on MIT research findings and has delivered real progress for areas that have previously participated. Representatives of government, business, universities, financial sector and entrepreneurs will sit on the project's steering committee and work with MIT experts and partners.
Ari Kristinn Jónsson, president of RU, says the co-operation fits with the university's strategy of emphasising innovation. "Increased utilization of intellectual property will become the basis for competitiveness and quality of life in the future. It is therefore very exciting to begin this partnership with one of the most prestigious universities in the world, which is known for technology, business and innovation."