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The Massachusetts Institute of Technology is expanding a program for student entrepreneurs to include six teams from overseas that will come to the United States this summer to hone ideas for start-ups alongside collegians from the Cambridge school.
International student groups hailing from Russia, Turkey, Canada, Germany, and China will join eight local teams that will each have at least one current MIT student or recent grad. Each team is eligible for $20,000 in funding and will receive mentoring and tutelage from successful entrepreneurs and MIT professors.
The global initiative — the first of its kind in an academic setting — comes as accelerator programs such as TechStars or Y Combinator are booming and becoming magnets for the brightest graduates from MIT.