A Global Hub for Entrepreneurial Leaders Moving Ideas to Impact in the Developing World
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LEGATUM CENTER FOR DEVELOPMENT & ENTREPRENEURSHIP 2018 2019* A global hub for entrepreneurial leaders moving ideas to impact in the developing world * Academic Year, Fall ’18–Spring ’19 LEGATUM CENTER | 1 The Legatum Center was founded on the belief that entrepreneurs and their market-driven solutions are critical to advancing socioeconomic progress in the developing world. While global prosperity has increased in recent decades, the progress is uneven, and the worst deprivations are still concentrated in specific parts of the globe. We drive inclusive prosperity by empowering the next generation of change agents who, through principled entrepreneurial leadership, will create good jobs, improve lives, and build a better world. The Center is a global community based at MIT, drawing on the Institute’s talent, networks, presence, and expertise to inspire and equip those who want to move their ideas toward scalable impact. We build inclusive pathways within MIT and also between MIT and growth market ecosystems. We support MIT students at every stage of their entrepreneurial journey through our rich portfolio of programs, the capstone of which is a competi- tive Fellowship reserved for students dedicated to building and scaling their ventures post-graduation. The Center also provides channels for entrepreneurs across the world to access MIT resources and enrich our ecosystem. Finally, we distill what we learn from these networks to advance research and thought leadership that impacts entrepreneurial leaders and stakeholders. Letter from the Leadership .................................... 3 Principles of Operation ........................................ 4 Our MIT Partners .............................................. 5 Academic Year in Review ...................................... 6 Student Programs ............................................ 8 Fellowship within the Legatum Center 8 Fellows in the World 10 Voyager Grant Program 12 Hosted Events 14 Emerging Technologies in Frontier Markets 14 Get Good Stuff Done 15 OMA@MIT 16 Global Programs .............................................18 Open Mic Africa Summit 19 MIT Legatum Leadership Forum 20 Global Health Summit 22 Thought Leadership ..........................................24 Case Studies 24 Op-Eds 25 In the Ecosystem (Supported Events & Outreach) ...............26 In the Trenches (Alumni Spotlights) ............................30 Our New Executive Director ..................................34 The Legatum Center Team ....................................36 2 | LEGATUM CENTER Our Supporters ..............................................37 LETTER FROM THE LEADERSHIP Dear Friends, Welcome to the Legatum Center’s annual report for On campus we piloted a major new program: Open Mic Academic Year 2018-2019. Africa @MIT is a conversational series about Africa’s rising innovation economy and serves as the on-campus compan- Every year we marvel anew at the uniquely talented co- ion to our MIT Open Mic Africa tour. The first iteration of hort of student-entrepreneurs we have the privilege of this interactive program featured five events that brought supporting. This past year’s students are no less impres- CEOs, founders, and industry leaders to campus to delve sive as you will learn in the pages that follow. Thanks more deeply into the continent’s innovation landscape. to the ongoing support of our donors — particularly the Legatum Group, the Mastercard Foundation, the The past year has been marked by significant transitions in Jacobs Foundation, and HRH Princess Moudi bint our team. In January, we bid a farewell to Georgina Camp- Khalid — we dispersed over US$990,000 in Fellow- bell Flatter, who stepped down as Executive Director and ships to 24 entrepreneurs, as well as over US$42,000 in moved with her family back to her native Wales. We’re deep- Voyager Grants to 26 student teams. ly grateful that Megan Mitchell, Director of Fellowships and Student Programs, stepped up as Acting Director during This year has marked a number of major milestones. the interim. (Although not officially part of Acaedmic Year In August we concluded the cycle for our 2018 Zam- 2018/19 we were delighted that Dina Sherif accepted the bezi Prize for Innovation in Financial Inclusion with offer to join as Executive Director and at the time of writing an MIT Open Mic Africa Summit hosted in Nairo- is already deeply immersed in leading the Center and engaging bi, Kenya. Ten Zambezi Prize finalists joined leaders with our wider community). from the MIT and African innovation ecosystems for cohort-building, panel discussions, and hackathon We also bid farewell to Ali Diallo, who left his role as Global exercises. The Summit culminated in the announce- Programs Manager and Zambezi Prize lead for a Presiden- ment that fintech startup Wala — whose platform of- tial Innovation Fellowship in Washington D.C., as well as to fers a cryptocurrency wallet and access to transactional Nick Meyer who left his role as Entrepreneur in Residence in banking, remittances, loans, and insurance — was the pursuit of his latest venture. We have been joined by Sanjay US$100,000 grand prize winner. Later, in November, Mandahar as a new EIR. all the finalists visited Cambridge, MA to participate We hope you will enjoy learning more about our activities in the MIT Legatum Leadership Forum, a four-day this past year. As always, thank you for your enduring support boot camp aimed at bolstering skills and amplifying and commitment to the Legatum Center’s team, mission, impact. Continuing our focus on the ways in which and entrepreneurs. entrepreneurs serve as catalysts for change in Africa, we collaborated with King’s College London to orga- nize “Building Sustainable Healthcare Systems through Innovation and Entrepreneurship: An Inclusive and Global Conversation.” This landmark conference drew 250 entrepreneurs, academics, healthcare professionals, and policymakers from around the world. Fiona Murray Dina H. Sherif Faculty Director, Legatum Center Executive Director (Sept. 2019) Legatum Center Associate Dean of Innovation & William Porter Professor Senior Lecturer, MIT Sloan of Entrepreneurship, MIT Sloan LEGATUM CENTER | 3 MOVING IDEAS TO IMPACT PRINCIPLES OF OPERATION The Legatum Center’s principles of operation, which build upon the principles of the broader MIT entrepreneurship community, guide every idea, action, and decision we make. IMPROVING LIVES Our Center’s mission is to improve lives by cultivating (and learning from) principled innovation-driven entrepreneurs in the developing world. We empower our entrepreneurs to create and scale businesses that will have significant social impact through their technology or service while also ensuring they develop a sustainable business model that will lead to the creation of good jobs and ethical management practices. MIT STANDARD OF EXCELLENCE AND RIGOR We work with MIT faculty and part- ners to incorporate the MIT standard of excellence and rigor into everything we do. We enroll students with integrity, strong leadership potential, high aspirations, and exceptional intellectual ability. We deliver the highest quality entrepreneurship-for-development educa- tion, advising, and practical experiences. COLLABORATION We do our utmost to catalyze action in, and contribute to, the In- stitute’s distinctive intellectual excellence and entrepreneurial culture. This means working closely with other departments, labs, centers, groups, alumni, and partners to connect stu- dents with the best entrepreneurship-for-development curriculum, programming, and exper- tise across MIT. DIVERSITY Entrepreneurship for development requires diversity of opinion, ideas, and peo- ple. As such, our team, fellowship cohort, and program offerings combine a range of critical perspectives, including those from on-the-ground entrepreneurs in the developing world. We educate our community to recognize micro-biases and strive to ensure diversity and high eth- ical standards in all that we do. EXPERIMENTATION, EVALUATION & ITERATION We foster an adventurous learning community. Each year, we try new activities and partnerships that could enhance our stu- dents’ educational experience. If we fail, we learn in the process. When we succeed, we scale rapidly. To ensure we are meeting the needs of our students, we take a rigorous approach to program evaluation, iterating and refining our approach as needed. HONEST BROKER The interests of our student entrepreneurs are paramount and their long-term success is our foremost goal. As such, no one in an advising, educational, or sup- port role at the Center will take a part of a student company nor look for a place on their board. Our only goal is the student’s long-term success. We aim for our students to have a clear understanding of their investment and partnership options before they make a decision on whether to exchange a part of their business for additional funding. MENS ET MANUS True to the motto of MIT, in all our program offerings we operate on a hybrid model that fuses academic and practitioner perspectives. For a complete description of these principles visit http://legatum.mit.edu/what-we-do/ 4 | LEGATUM CENTER THE LEGATUM CENTER THANKS OUR MIT PARTNERS FOR THEIR COLLABORATION IN SUPPORTING ENTREPRENEURS ACROSS GROWTH MARKETS Martin Trust Center for MIT MIT Africa Entrepreneurship http://africa.mit.edu/ http://entrepreneurship.mit.edu/ MIT Inclusive Innovation Challenge MIT Sloan Global Programs https://www.mitinclusiveinnovation.com/ https://mitsloan.mit.edu/global-programs/