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In 2014, the school launched the MIT Regional Entrepreneurship Acceleration Program ( REAP), which brings leaders from developing regions to MIT for two years to improve their economies. Other initiatives include the MIT-China Management Education Project, the International Faculty Fellows Program, and partnerships with IESE Business School in Spain, Sungkyunkwan University in South Korea, Universidade Nova de Lisboa in Portugal, the Skolkovo Moscow School of Management in Russia, and Tsinghua University in China. In the 1960s, the school played a leading role in founding the first Indian Institute of Management. Since its founding, the school has initiated many international efforts to improve regional economies and positively shape the future of global business. In 2014, the school celebrated 100 years of management education at MIT. In 2005, an undergraduate minor in management was opened to 100 students each year. In the following decades, the school grew to the point that in 2000, management became the second-largest undergraduate major at MIT. In 1964, the school was renamed in Sloan's honor as the Alfred P. Sloan Foundation grant established the MIT School of Industrial Management in 1952 with the charge of educating the "ideal manager". Sloan, himself an 1895 MIT graduate, who was the chief executive officer of General Motors and has since been credited with creating the modern corporation. The world's first university-based mid-career education program-the Sloan Fellows program-was created in 1931 under the sponsorship of Alfred P. The scope and depth of this educational focus grew steadily in response to advances in the theory and practice of management.Ī program offering a master's degree in management was established in 1925. The MIT Sloan School of Management began in 1914 as the engineering administration curriculum ("Course 15") in the MIT Department of Economics and Statistics.