The Regional Entrepreneurship Acceleration Program

Why It’s Important for Miami NOW

Diversify the Economy

Miami has long relied on tourism, real estate, and international trade alongside a small but mighty group of major, homegrown corporations. While recent waves of entrepreneurship have elevated it to emerging tech hub status, MIT REAP can help accelerate the growth of innovation-driven industries—such as technology, life sciences, and green energy—to build a more resilient, diversified economy.

Strengthen the Innovation Ecosystem

Despite booming interest in startups and venture capital (especially in fintech, crypto, and health tech), Miami’s ecosystem remains fragmented. REAP offers a structured, proven process to:

• Connect key ecosystem stakeholders to build a shared vision and strategy

• Build infrastructure and support systems that are resilient beyond market cycles and short-term hype

• Launch high-impact innovation initiatives that can significantly scale the region’s economic output

Compete Globally

Cities like Austin, Atlanta, and Toronto are also racing to become global innovation hubs. REAP provides Miami with access to MIT’s frameworks, research, and networks, enabling the region to benchmark against and learn from the world’s leading ecosystems.

Inclusive Growth

Miami is among the most diverse regions in the U.S., with vibrant Latino, Caribbean, and immigrant communities. REAP emphasizes strategies that promote inclusive, equitable participation in innovation, ensuring economic benefits reach all residents.

Attract and Retain Talent

A clear, credible strategy for innovation makes Miami more appealing to:

• Entrepreneurs deciding where to build companies

• Investors choosing where to deploy capital

• Skilled workers considering relocation

Participation in REAP signals that Miami is serious and organized about becoming a world-class innovation hub.

Long-Term Economic Impact

Regions that have completed REAP have launched policies and initiatives that unlock billions in new investment, create high-paying jobs, and boost startup activity. Miami can leverage this proven approach to secure sustained growth beyond short-term booms.

Summary

Miami’s participation in MIT REAP is an opportunity to align its diverse stakeholders, develop a clear roadmap, and secure its place as a leading global center for innovation-driven entrepreneurship.