LONDON: Formula 1 announced on Monday that through its Extreme Innovation series, it will be working alongside the world renowned Massachusetts Institute of Technology (MIT) across educational business events on leadership.
MIT management school faculty researchers will get an opportunity to merge their ‘mind and hand’ model of applied business frameworks with F1’s world-class expertise in technology and innovation.
The first event will take place on August 30 before the Italian Grand Prix in Monza and has found an overwhelming response. Whereas the second event is all set to place in Austin at the United States Grand Prix on October 18.
This will be followed by four additional events in 2019, tackling the themes of winning against intense competition; building a winning platform; winning customers; and winning with resilience.
“The pace and change in the business landscape has never been more competitive, and to gain the edge it is essential that rapid innovation is central to a business’ core.
“Formula 1 has not just been a sporting triumph, but a blueprint for business success as well. On-track performance from our teams relies on relentless technological innovation that corporations can learn from. Together with MIT management experts, we’re excited to share these lessons so that the next generation can learn how to embed F1-level innovation within their business.”, Sean Bratches, Formula 1 managing director, Commercial Operations said at the launch of the F1 Extreme Innovation Series.
Ben Shields, senior lecturer, MIT Sloan School of Management and Faculty director for the series said, “Collaborating with Formula 1 on this unique learning series is an exciting new way to educate business leaders worldwide. We are thrilled to be bringing MIT faculty to teach at Formula 1 circuits, and working with Formula 1, we look forward to offering lessons in management, innovation, and technology that are applicable to a wide variety of industries.”
The sessions will be held under the Chatham House Rule, which means that delegates will be free to use the information that they receive from the event but its speakers’ identities are not to be revealed.
