A Global Hub for Entrepreneurial Leaders Moving Ideas to Impact in the Developing World

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 organize “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 partners 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 education, 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 students with the best entrepreneurship-for-development curriculum, programming, and expertise across MIT.

DIVERSITY Entrepreneurship for development requires diversity of opinion, ideas, and people. 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 ethical 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 students’ 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 support 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/

MIT delta v / NYC Startup Studio MIT Regional Entrepreneurship Acceleration Program http://entrepreneurship.mit.edu/ accelerator/ https://reap.mit.edu/

Development through Discovery, MIT International Science and Design and Dissemination Technology Initiatives https://d-lab.mit.edu/ http://misti.mit.edu/

MIT Innovation Initiative Priscilla King Gray Public Service Center https://innovation.mit.edu/ http://studentlife.mit.edu/pkgcenter

MIT IDEAS Global Challenge MIT Media Lab http://globalchallenge.mit.edu/ https://media.mit.edu/

100K LATAM Competition MIT Sandbox Innovation Fund http://100klatam.org/ https://sandbox.mit.edu/

MIT System Design & Management MIT Integrated Design & Management http://sdm.mit.edu/ http://idm.mit.edu/

LEGATUM CENTER | 5 2018 – 2019 ACADEMIC YEAR IN REVIEW

MILESTONE NOVEMBER 26, 2018 MILESTONE IAP Voyager Grants awarded MAY 2, 2019 GLOBAL EVENTS Fellowship Demo Night GLOBAL EVENTS AUGUST 29, 2018 MIT EVENTS MAY 22, 2019 OMA Summit / Zambezi OCTOBER 4, 2018 Global Health Summit (London) Prize Ceremony (Nairobi) Fall 2018 Speaker Series Begins: — Organized by MIT Legatum Emerging Tech in Frontier Marets Center & King’s College London

MILESTONE OCTOBER 22 – 26, 2018 Sloan Innovation Period (Course “Hacking Poverty” features two Legatum case studies)

MILESTONE MILESTONE MAY 13, 2019 SEPTEMBER 7, 2018 MIT EVENTS Summer Voyager Grants awarded 2018–19 Fellowship Orientation FEBRUARY 26, 2019 OMA@MIT (a 5-part event series around innovation in African FPO markets) begins MILESTONE JUNE 7, 2019 GLOBAL EVENTS MIT Commencement — Joint Open House with Legatum NOVEMBER 5 – 8, 2018 Center and The Martin Trust Center MIT Legatum Leadership for MIT Entrepreneurship Forum (on MIT Campus)

6 | LEGATUM CENTER MILESTONE NOVEMBER 26, 2018 MILESTONE IAP Voyager Grants awarded MAY 2, 2019 GLOBAL EVENTS Fellowship Demo Night GLOBAL EVENTS AUGUST 29, 2018 MIT EVENTS MAY 22, 2019 OMA Summit / Zambezi OCTOBER 4, 2018 Global Health Summit (London) Prize Ceremony (Nairobi) Fall 2018 Speaker Series Begins: — Organized by MIT Legatum Emerging Tech in Frontier Marets Center & King’s College London

MILESTONE OCTOBER 22 – 26, 2018 Sloan Innovation Period (Course “Hacking Poverty” features two Legatum case studies)

MILESTONE MILESTONE MAY 13, 2019 SEPTEMBER 7, 2018 MIT EVENTS Summer Voyager Grants awarded 2018–19 Fellowship Orientation FEBRUARY 26, 2019 OMA@MIT (a 5-part event series around innovation in African markets) begins MILESTONE JUNE 7, 2019 GLOBAL EVENTS MIT Commencement — Joint Open House with Legatum NOVEMBER 5 – 8, 2018 Center and The Martin Trust Center MIT Legatum Leadership for MIT Entrepreneurship Forum (on MIT Campus)

LEGATUM CENTER | 7 STUDENT PROGRAMS

FELLOWSHIP WITHIN THE LEGATUM CENTER In August 2018, we welcomed the 2018–2019 Fellows to the Legatum Center family. This year’s cohort of 24 Fellows was selected from over 80 applicants across the five MIT schools. They are implementing ventures in four Latin American countries, six African countries, and five countries in South and Southeast Asia. Their industries include health care, education, professional services, real estate, IT-telecom, energy, legal services, and agriculture.

Fall Course 15.S16 Impact Ventures Fellows participated in a special seminar course, 15.S16 Impact Ventures, taught by Executive Director Georgina Campbell Flatter and Faculty Ad- visor Anjali Sastry. The course featured entrepreneurs who were scaling a growth market venture. Students evaluate the business models, underlying innovations, challenges in the venture’s development, and critical business Several Fellows await their turn on the stage during and leadership decisions the founders had faced (or were currently facing). the winter holiday celebration and pitch night. This year, 13 founders presented in the class, including 10 MIT alumni, from countries including Mexico, Chile, Thailand, India, Nigeria, Kenya, and South Africa, and from industries that included real estate, agriculture, edtech, fintech, IT, travel logistics, healthcare, and emergency response. Additionally, on October 30th, 17 visiting entrepreneurs — who were participating in the MIT Legatum Leadership Forum — joined the Fellows for a special collaborative class and peer-to-peer learning experience. The fall seminar culminated in a holiday celebration and pitch night, where the Fellows presented on their ventures to over 100 guests.

Sergio Medina (right) heads to the Kakuma Refugee Camp in Kenya, where his venture is using technology solutions to accelerate the delivery of humanitarian aid.

THE FELLOWSHIP The Fellowship program within the Curriculum FOR Legatum Center is designed to give Through our customized educational ENTREPRENEURIAL aspiring entrepreneurs a world class experience, students develop practical LEADERSHIP education at MIT, as well as extensive skills for navigating complex business mentoring and community support, environments, making principled in order to maximize their likelihood business decisions, setting and reach- of success as principled leaders in ing venture milestones, and building growth markets. and leading teams globally.

Mentorship We have an Entrepreneur in Residence dedicated to helping our Fellows navigate their entrepreneurial journey at MIT. We have also built a network of alumni, domain experts, and mentors 8 | LEGATUM CENTER Spring Course: 15.S65 Impact Ventures: Collaboration Lab Building on the fall semester seminar and co-created with the current Fel- lows, this collaboration-based class had two primary components: (1) invited speakers, recommended and sourced by the Fellows, presenting for one hour on practical, actionable topics; and (2) a few Fellows each week presenting a peer-assist assignment in which they outlined a challenge they were facing and solicited feedback from their classmates in implementing a solution. The class culminated in our annual Demo Night, hosted this year inside the MIT Museum, where the Fellows pitched their ventures to an audience of visiting alumni, MIT faculty, investors, and other stakeholders Prosper Nyovanie, 2017–19 Fellow and founder of and supporters. Voya Sol, trains the local community in Boshof, South Africa to build a utility scale photovoltaic power plant.

Small Group Sessions In both the fall and spring semesters, Fellows also participated in “Rigor for the Road” small-group sessions. Moderated by the Legatum Center leadership team, these 90-minute conversations combined group discussion on insights taken from a pre-assigned reading, as well as a focused peer-assist time. The sessions provided a safe space for students to brainstorm and work together on the development challenges inevitable in their entrepreneurial journey. Examples of session topics included: “How to Manage Me,” “Science of Persuasion,” and “Science-based Techniques for Man- aging Self Confidence.”

IN THE NEWS

“Legatum Fellows build on 10-year legacy of impact” MIT News | June 20, 2019.

to provide guidance, encouragement, Financial support and specialized advice as needed. Each Fellow is awarded up to $50,000

toward tuition and stipend. Fellows Top: Fellows in the Legatum Center classroom Community also receive grants to support travel to listen intently during a session of their fall MIT has a rich entrepreneurial eco- growth markets during the summer semester course 15,S16 Impact Ventures. Bottom: At the Legatum Center's Demo Night, system comprised of faculty, investors, and winter breaks in order to build Fellow Riana Shah pitches her venture that potential partners, and new technol- professional relationships, conduct provides affordable artificial intelligence upskilling to engineers while helping them think critically ogies, as well as aspiring and expe- primary market research, test proto- about the ethics of AI design. rienced entrepreneurs. The Legatum types, or run pilot studies. Center serves as a community hub, helping students navigate the various pockets of MIT to secure the expertise and resources they’ll need to optimize their entrepreneurial journey.

LEGATUM CENTER | 9 2018–2019 MIT LEGATUM CENTER FELLOWS IN THE WORLD

Supported by Mastercard Foundation

Supported by Jacobs Foundation

MIT Legatum Center

Christian Ulstrup, mba, sloan IT/Telecom Christian’s venture, Quixl, streamlines the historical research process and unlocks the storytelling value contained in undigitized primary resources around the world by building a marketplace where source own- ers and archivists can monetize their content.

Francisco Puente, mba, sloan Real Estate, Mexico Francisco’s business, Bienven- dido, focuses on using data analytics to price and purchase used family homes in Mexico, then retrofit them, and finally sell them.

Michel Mosse, mba, sloan Alejandro Noriega, Lais Fonseca, mba, sloan Danilo Limoeiro, phd, human- Ethan Boye-Doe, mba, sloan Education, Argentina phd, applied artificial Healthcare, Brazil ities, arts, & social sciences Professional Services, Ghana Michel’s venture, Inlara, is an intelligence Lais’ venture, Precavida, is a IT/Telecom, Brazil Ethan’s venture, Boami, is an online marketplace for IT/Telecom, Mexico digital matching platform pow- Danilo’s venture, Turivius, seeks online platform designed to individuals and enterprises in Alejandro's venture, Prosperia ered by an AI concierge service to solve the inefficiencies and connect workers in the informal Latin America to find the most Labs, focuses on AI-powered that connects uninsured patients high costs of Brazil’s excessive economy in Ghana with the convenient coaching experience solutions that revolutionize target- in Brazil to providers, giving litigation by building an AI-pow- employers that need them. to unlock their potential. ing systems that deliver services patients access to quality, timely, ered dispute resolution platform. to low-income populations. and affordable healthcare.

Adrian Cabrera, mba, sloan Andre Bernardes, mba, sloan Elisa Mansur, mba, sloan Bruno Lucas, mba, sloan Genevieve Barnard Oni, IT/Telecom, Bolivia Financial Services, Brazil Education, Brazil Financial Services, Brazil mba, sloan Adrian’s venture, Alpaca, rapidly Andre’s venture, Zippi, harnesses Elisa’s venture, mopi, is a Bruno’s venture, Zippi, harness- Healthcare, Nigeria builds and scales online market- alternative data sources to make network of home-based daycare es alternative data sources to Genevieve’s venture, MDaaS places that enable millions of credit more accessible to ride- centers to deliver early child- make credit more accessible to Global, builds and operates people across the globe to find hailing app drivers in Brazil. hood education to low-income ride-hailing app drivers in Brazil. tech-enabled diagnostic centers 10homes | LEGATUM and roommates. CENTER neighborhoods in Brazil. to provide convenient, high-quality, and affordable healthcare for Africa’s next billion. Karina Akib, mba, sloan Healthcare Karina’s venture, CaroCare, fills the gaps of physical, emotional and educational support for new moms during the postpartum period, providing in-home and remote care through a curated network, supported by a digital mobile app.

Chinh Bui, idm, engineering, sloan Education, Vietnam Chinh’s venture, Learn-In-Con- text, leverages automation and AI to revolutionize the way English is taught and learned in growth markets.

Mark Adams, mba, sloan Juliet Wanyiri, idm, Sloane Phillips, mba, sloan Riana Shah, mba, sloan Timothy Glynn, mba, sloan Financial Services, Zambia engineering & sloan Healthcare, Tanzania Education, India IT/Telecom, Philippines Mark’s venture, Agrilink, offers Manufacturing, Kenya Sloane’s venture, Iterative Riana’s venture, SkillX, Tim’s venture, Iamus, uses a data and operations solution Juliet’s venture, Foondi, is Scopes, empowers physicians provides affordable artificial machine learning to turn to banks to connect smallholder Africa’s first online platform for through computer vision tools intelligence upskilling to environmental and biometric farmers in Zambia with afford- creative hardware professionals to provide the best care to engineers while helping them information into actionable data able financial services. that enables hardware their patients while reducing think critically about the ethics for poultry producers. innovators to easily showcase healthcare disparities. of AI design. their work and skillset using a portfolio-based career site.

Prosper Nyovanie, mba, sloan Sergio Medina, Mercy Ndambuki, mba, sloan John Lewandowski, Andrew Tsang, sdm, & sm, engineering executive mba, sloan Education, Kenya phd, engineering engineering and sloan Energy, Zimbabwe IT/Telecom, Kenya Mercy’s venture, Mbavu, is Healthcare, India Waste Management, India Prosper’s venture, Voya Sol, de- Sergio’s venture, RISE, focused on upskilling entry-level John’s venture, Disease Andrew’s startup, InSanerator, velops ready-to-assemble solar builds enterprise software to employees in Kenya through Diagnostic Group, is focused on builds sanitation infrastructure systems for off-grid communi- accelerate humanitarian aid for digital soft skills training. screening, tracking, and diagnos- into shipping containers, includ- ties in Zimbabwe. economy in refugees and migrants globally ing neglected tropical diseases ing the LEGATUMcapacity to CENTERmonetize | the 11 Ghana with the employers that so that they may participate in the developing world through waste by converting it to energy. need them. more fully in society. portable and reusable devices. VOYAGER GRANTS FOR THE EXPLORATORY STUDENT

For students exploring a specific VOYAGER GRANT PROGRAM idea for impact, we offer Voyager Grants to support their travel so We awarded 33 Voyager Grants to MIT student teams who traveled to the they can test their customer and developing world during their winter and/or summer breaks. We also part- product assumptions in the field. nered with the Martin Trust Center’s delta v accelerator, offering Voyager Grantees may use the travel oppor- Grants to support accelerator participants who were launching ventures in tunity to learn more about the local growth markets. business context, conduct primary market research, develop partner- VOYAGER GRANT HIGHLIGHTS ships, or pilot prototypes. By sup- Distributed labor, Philippines porting early stage entrepreneur- Anna Kazlauskas, SB ’19 & Michael Joseph Bautista, MBA ’19 ial leaders at MIT, the Voyager Grant program enables students Anna and Michael researched a business model that provides job opportunities to experience opportunities on the while supplying technology firms with cost-effective machine learning data. ground, address real challenges, Pay-as-you-go solar, Cameroon and create solutions that have Celi Khanyile-Lynch, MBA ’20 the potential to drive socioeco- Celi followed up with households and small businesses using her venture’s nomic progress in growth markets. solar energy solution as part of a pilot study. Satellite programming, Kenya Jake Guglin, MBA ’19 Jake researched channels for integrating satellite programming with existing science and technology curricula in East Africa, starting with Kenya. Sustainable AI, Peru Bjorn Lutjens, PhD ’21 & Katharina Kramer, visiting MBA scholar Bjorn and Katharina traveled to Peru to test their algorithm for monitoring the health of rainforests. They partnered with an organization that tracks for- est health and shares information with governments and other stakeholders. Velaron, Mexico Pablo Ducru, PhD ’19 Pablo traveled to Mexico to follow up on aquaculture farms that are piloting Velaron’s water quality monitoring system for shrimp producers. Water testing kits, Nepal Swoosh Shrestha, SB ’21 Engineering Swoosh piloted a water test kit with users in Nepal to study the durability of the kit under real-use conditions, determine how to market the kit to households, and identify sales channels.

Top: Michael Joseph Bautista, top left, traveled to the Philippines to develop a platform that provides job opportunities while supplying technology firms with cost-effective machine learning data. Bottom: Smita Bhattacharjee (photographer) traveled to India to test a prototype of a device that enables wheelchair users to climb stairs in locations where ramps are unavailable.

12 | LEGATUM CENTER Terraformers, Nigeria Ezinne Uzo-Okoru, SM ’20 Ezinne continued to pilot her model that allows schools and neighborhoods to sustainably grow their own produce. TILT, India Smita Bhattacharjee, SB ’21 Smita traveled to India with a prototype of a device that enables wheelchair users to climb stairs in locations that do not have ramps.

DELTA V VOYAGER GRANTS InSanerator, India Andrew Tsang, SDM ’19, & Danielle Gleason, SB ’20 Andrew and his team have developed a technology that converts waste to pure water and energy. They are identifying customers in target markets. Myco Diagnostics, India Eric Miller, PhD ’19, & Nhat Nguyen, MBA ’21 The team is using a protein-based test to rapidly diagnose tuberculosis.

OculAR, India Jad Ojjeh, MBA ’20 & Brett Sternfield, MBA ’20 The team is building a device that allows physicians to provide remote care and treatment of ophthalmologic conditions. Top and bottom: Ezinne Uzo-Okoru (bottom photo, top right) traveled to Nigeria to develop a business model that allows schools and neighborhoods to Precavida, Brazil sustainably grow their own produce. Lais Fonseca, MBA ’19, Monica Simao, Eric Raul Pena Sanchez, MBA ’19, & Nicolas Castro Lopez, SM ’19 The team is continuing to develop a multi-sided platform that allows patients in Brazil to schedule appointments with healthcare providers.

Left: Swoosh Shrestha piloted a water test kit with users in Nepal to study the durability of the kit under real-use conditions, determine how to market the kit to households, and identify sales channels. Right: Andrew Tsang pitched his sanitation and energy venture, InSanerator, at the delta v Demo Day.

LEGATUM CENTER | 13 HOSTED EVENTS

FALL 2018 SPEAKER SERIES – EMERGING TECHNOLOGIES IN FRONTIER MARKETS The Fall 2018 Speaker Series brought together MIT students, staff, alumni, and practitioners to participate in Emerging Technologies in Frontier Mar- kets, a series organized to examine opportunities for deploying new technologies in growth markets to solve intractable challenges. Each session was moderated by Legatum Center staff or a student expert. Panels included students, alumni, and experts from entrepreneurship ecosystems. All sessions took place in the Martin Trust Center Garage and were open to the MIT community and the general public.

Fintech and Artificial Intelligence in Frontier Markets – Oct 4 Ali Diallo, Global Programs Manager, MIT Legatum Center Mercy Ndambuki, on the left, Safinah Arshad Ali, Matt Grasser, Director of Inclusive Fintech at Bankable Frontier Associates, NY Michael Beeler, and Sam Bhattacharyya (on screen) discuss implementing education technology in Aline Oliveira Pezente (Sloan Fellow), cofounder of TrAIve, Minneapolis, MN various growth markets. Danilo Limoeiro, 2018–19 Fellow and founder of TuriVius Alejandro Noriega Campero, 2018 –19 Fellow and cofounder of Prosperia Labs The panelists discussed applications for artificial intelligence in policy making, access to legal services, financial inclusion, and ethics.

Distributed Manufacturing – Nov 4 Anna Waldman-Brown, PhD candidate, Legatum Center Research Assistant Dr. Nadya Peek, PhD ’16 Media Lab, Assistant Professor at University of Washington Tarek Ahmed, founder of the Cairo Hacker Space Sidhant Pai, 2013 –14 Fellow and founder of Seva Solutions Juliet Wanyiri, a 2017–19 Fellow and founder of Foondi Workshops Panelists discussed opportunities for distributed and small-scale manufacturing in resource-constrained environments, as well as how education and technology are changing the way individuals and companies think about manufacturing and sustainability.

Anna Waldman-Brown, on the left, Juliet Wanyiri, Education Technology in Frontier Markets – Dec 6 and Tarek Ahmed pose for a photo after their panel on distributed manufacturing. Mercy Ndambuki, 2018 –19 Fellow and founder of Mbavu Sam Bhattacharyya, 2014 –15 Fellow and cofounder of dotLearn Tunde Alawode, PhD ’16 and cofounder of dotLearn Michael Beeler, 2014 –15 Fellow and Founder of 1Room Kenya Safinah Arshad Ali, MIT Media Lab Social Robotics Group researcher The panelists shared insights on building technologies to improve quality of and access to education.

14 | LEGATUM CENTER GET GOOD STUFF DONE To marshal the expertise and teachings of myriad MIT cen- Primary Market Research – Nov 16 ters, the Legatum Center collaborated with several on a series Sorin Grama, Cofounder and CEO of Transaera, Inc. & Instruc- of Get Good Stuff Done clinics, providing students across the tor for D-Lab at MIT Institute with opportunities to assemble their entrepreneurial This workshop covered the nuts and bolts of interviewing and tool kit. Collaborators included: Martin Trust Center, Priscilla surveying customers and end-users of a product/service, and King Gray Center, D-Lab, MIT CoLab, MISTI, MIT REAP, served as an opportunity to learn and practice new techniques and MIT Sandbox. The Legatum Center served as lead organizer for gathering data that informs the design of solutions. for the following events: Storytelling – Nov 30 Mapping Your Ecosystem and Identifying Stakeholders – Oct 12 Julianne Gauron, Designer Soga Oni, 2015–16 Fellow and cofounder of MDaaS Global This workshop examined the fundamentals of crafting a story This workshop covered frameworks for mapping projects and and frameworks for building a coherent brand message for cus- venture ecosystems. Participants learned how to identify stake- tomers and end users. The session was led by Julianne Gauron, holders, and then how to segment customers, end users, sup- an industrial designer who travels the world to create brand pliers, funders, and others as they developed ideas, projects, campaigns for established companies and non-profits. and ventures. Building Digital Solutions with Data in Frontier Markets – Feb 22 Product Development at MIT – Oct 19 Aline Pezente, Sloan ’18, cofounder of TrAIve Finance and Global Alicia Chong, 2017–18 Fellow and founder of Bloomer Health Tech Digital Strategy Lead for Cargill This workshop reviewed the maker spaces, advisors, and fund- This workshop focused on collecting and using data to build ing sources available at MIT to support the development of digital solutions for frontier markets. Participants learned how students’ ventures. Alicia described how she leveraged resourc- to build and adapt data sets to test their business model. es at MIT to build an early prototype of her solution for cap- Building Technologies for Financial Inclusion – Apr 5 turing women’s cardiac health data and to build her team. Doug Ricket (SB, MS EECS ’01), cofounder and CEO of PayJoy Planning and Executing a Pilot – Nov 2 Jenny Jin (Sloan MBA, 2013 – 15 Fellow) Senior Project Manager Cory Siskind, 2016 – 18 Fellow and founder of Base Operations at PayJoy This workshop covered how to plan a product pilot in a growth This workshop discussed strategies for building innovative prod- market like Mexico while on campus, including how to identify ucts that serve the underbanked in growth markets. Doug and an on-site partner and collect data. Cory shared her experience Jenny discussed their venture-backed startup PayJoy, which of successfully launching a product, raising money, and com- builds technologies for financial inclusion in growth markets pleting the first Techstars Impact Accelerator in Austin, TX. with offices in Mexico City, Indonesia, India, and South Africa.

Prototype and Product Development Based on Market Research – Apr 10 Kit Hickey, cofounder of Ministry of Supply and Lecturer at MIT Sloan This workshop focused on how to integrate market research into the prototype and product development process.

Sorin Grama leads a Get Good Stuff Done workshop on conducting primary market research. LEGATUM CENTER | 15 OPEN MIC AFRICA @ MIT This year we launched Open Mic Africa @ MIT (OMA@MIT), a conversational series about Africa’s rising innovation sector featuring tech entrepreneurs from the continent. These interactive sessions drew on guest CEOs, founders, and industry leaders to delve into core facets of Africa’s innovation landscape. Series topics included supply chain logistics, startup VC funding, financial inclusion, and African e-commerce on and off the continent. Jake Bright, a TechCrunch contributor, opened each session with contextual remarks and led a conversation with the session’s guest presenter(s), after which Faculty Advisor Anjali Sastry moderated Q&A with attendees.

Connectivity and the Digitization Gap – Feb 26 Oswald Jumira, Head of Innovation Partnerships at Liquid Telecom Despite recent gains, Africa remains last in nearly all global metrics for digital connectivity. Participants discussed how Africa could bridge the connectivity

Following a moderated conversation about gap for its people and its startups. investment in Africa's technology landscape, event participants speak with guest presenter Entry Points for Investment in Africa’s Tech Landscape – Mar 5 Marieme Diop from Orange Digital Ventures. Marieme Diop, VC investor at Orange Digital Ventures Venture capital and non-equity funding of African tech ventures have more than tripled over the last decade. With this in mind, participants examined the state of funding in Africa and discussed unique characteristics of the startup investment model for Africa’s tech ecosystem. They also considered strategies for founders to access capital.

The Rise in Demand for African Consumer & Digital Goods – Apr 14 Chris Folayan, founder and CEO of Mall for Africa Abai Schulze, founder and Creative Director for ZAAF Omosalewa Adeyemi, Expansion and Partnership Manager for Flutterwave This OMA@MIT session, in which participants discussed how best to lever- age the rising demand for African consumer and digital goods, was incorporated as part of the MIT Sloan Africa Innovate Conference, an annual event hosted by the MIT Sloan Africa Business Club which brings together leading entrepreneurs and change agents from across the African continent.

After a conversation about supply chains and logistics in Africa, Anjali Sastry moderates audience Q&A with the founder of Lori Systems, Gichini Ngariuya.

16 | LEGATUM CENTER Digital Credit Market Challenges – Apr 23 CONNECTING DISCUSSION Ekechi Nwokah, CEO of MINES.io OF AFRICAN MARKETS TO MIT Venture capital-backed startups are forging digital models to increase finan- STUDENT INNOVATION cial inclusion directly through mobile phones. Participants discussed how At each OMA@MIT event, after a these models can create channels for traditional financial institutions to topical overview of the landscape and a reach large segments of unbanked and underbanked consumers. preliminary discussion with the invited Supply Chain and Logistics on the Continent – May 7 guest, select students and researchers were invited to share a snapshot of their Gichini Ngariuya, MIT alumnus (MEng '09) and cofounder of Lori Systems current work and receive feedback. A number of venture capital-backed startups are focused specifically on opportunities in digitizing supply chain networks and logistics. Participants For instance, Mercy Ndambuki, a examined how these models can support growth, reform, and productivity 2018 –19 Fellow, pitched her skill development venture, Mbavu. Emmanuel in Africa’s major economies while enabling SMEs and startups to scale. Azuh, an SM candidate in Electrical Engineering and Computer Science, pitched his Ghana Youth Training initiative. And Juliet Wanyiri, a 2017–19 Fellow, pitched Foondi, an online platform for makers in Africa to showcase their projects and portfolios. Emily Young, an MIT graduate and former Voyager Grantee, returned to present on The Okoa Project, which makes ambulances that can attach to any motorcycle for transporting patients from rural areas to clinics and hospitals in Tanzania. Finally, Genevieve Oni, a 2016 –17 and 2018 –19 Fellow, pitched MDaaS Global, a venture she co-founded to make medical diagnostics accessible to low- and middle-income patients. Gen- evieve’s presentation resulted in even- tual funding for MDaaS Global from an angel investor attending the event.

Top: Jake Bright, left, and Ekechi Nwokah discuss digital credit market challenges in Africa. Bottom left: Emily Young, top left, pitched The Okoa Project during an OMA@MIT event. Bottom right: The Okoa Project makes ambulances that can attach to a motorcycle for emergency medical transport in rural areas of Tanzania.

LEGATUM CENTER | 17 GLOBAL PROGRAMS

2018 ZAMBEZI PRIZE Applications for the Zambezi Prize for Innovation in Financial Inclusion in Sub-Saharan Africa closed on June 1, 2018. We received 507 applications over a 3-month period — a nearly four-fold increase in applications over the previous prize cycle. We engaged over 40 judges to review the applications and to select ten finalists. A panel of judges proceeded to interview the ten finalists to select the Grand Prize Winner and the two Runners-Up. The results were announced in a ceremony on August 29, 2018, during the Open Mic Africa Summit:

Grand Prize Winner Wala (South Africa)

Runners-up RecyclePoints (Nigeria) Tulaa (Kenya)

Finalists Apollo Agriculture (Kenya) Bidhaa Sasa (Kenya) FarmDrive (Kenya) Farmerline (Ghana) LanteOTC (South Africa) MaTontine (Senegal) Top and bottom: On Day One of the OMA OZÉ (Ghana) Summit, Legatum Center alumni Kenfield Griffith (PhD '12) and Ella Peinovich (MArch '12) both led private mentoring sessions for the Zambezi Prize finalists.

IN THE NEWS

“SA startup Wala wins $100k Zambezi Prize for Innovation in Financial Inclusion” Ventureburn | September 3, 2018

Left: MIT Sloan Fellow Funke Michaels, left, and Faculty Advisor Anjali Sastry helped to organize the OMA Summit. Right: Legatum Center-branded "swag bags" from Peperuka, a socially conscious apparel company based in Nairobi.

18 | LEGATUM CENTER OPEN MIC AFRICA SUMMIT The Open Mic Africa (OMA) Summit was held at Strathmore University in Nairobi on August 29, 2018. The Summit served as an engagement platform for the MIT alumni community, previous Zambezi winners and finalists, and the broader African entrepreneurship community. 150 guests attended the OMA Summit which included a VIP reception, a hackathon, vision talks, fireside chats, and the Zambezi Prize award ceremony. The Summit also featured mentoring sessions wherein all Zambezi Prize finalists and IIC-Africa finalists (19 ventures total) had 3 –5 consultations with MIT experts and previous Zambezi Prize finalists (17 mentors total). Notable speakers and VIP guests at the Summit included: • Ashley Onyango – Program Manager, Financial Inclusion at the Mastercard Foundation • Eric Osiakwan – Managing Partner at Chanzo Capital • Claude Grunitzky – Founder of True Africa • Laissa Mouen – Cofounder of Kinaya Ventures • Munyutu Waigi – Cofounder of Umati Capital (the 2015 Zambezi Grand Prize Winner) • Angela Nzioki – Cofounder of PlusPeople (a 2015 Zambezi Finalist) • Rachel Balsham – Deputy CEO of MFS Africa (a 2015 Zambezi Finalist) • Funke Michaels – MIT Sloan Fellow • Sam Gilkandi – CEO, Africa’s Talking • Kenfield Griffith – CEO, mSurvey and a 2010-11 Fellow • Emmanuel Adegboye – Manager of Entrepreneurship Center, Andela The event also drew representatives from leading organizations including GSMA; Safaricom, Acumen, and Omidyar Network.

The MIT delegation was led by Dr. Anjali Sastry, Faculty Advisor at the Top: Megan Mitchell, right, leads a panel Legatum Center, and Megan Mitchell, Director of Fellowship and Student discussion with (r-l) Ashley Onyango, Angela Programs at the Legatum Center. Other MIT leaders included: Sarah Jane Nzioki, and Laissa Mouen. Middle: The audience awaits announcement of Maxted, Executive Director of the MIT Regional Entrepreneurship Accel- the Zambezi Grand Prize Winner. Bottom: Samer Saab, founder of Wala, accepts eration Program; Nick Meyer, Entrepreneur in Residence at the Legatum the Zambezi Prize competition’s $100,000 award. Center; and Susan Young, Associate Director of the MIT Inclusive Inno- vation Challenge.

IN THE NEWS

“South Africa startup Wala wins Zambezi Prize for micropayments platform” MIT News | September 18, 2018 LEGATUM CENTER | 19 MIT LEGATUM LEADERSHIP FORUM Seventeen leading entrepreneurs from Africa participated in the MIT Lega- tum Leadership Forum on November 5–8. This four-day boot camp, hosted at the MIT campus, was aimed at bolstering skills and amplifying impact. It also served to give the Institute’s experts a critical update on Africa’s fast-evolv- ing entrepreneurial ecosystem from the perspective of leaders on the ground. Forum participants were selected for their entrepreneurial achievements in inclusive innovation. Invited to attend were leaders from all ten finalist companies in this year’s Zambezi Prize as well as the four regional Africa Winners in the MIT Inclusive Innovation Challenge (IIC). Tricia Martinez – CEO, Wala Zambezi Grand Prize Winner & IIC Africa Winner, Financial Inclusion Samer Saab – COO, Wala Zambezi Grand Prize Winner & IIC Africa Winner, Financial Inclusion Vishal Ajmera – Chief Product Officer, Tulaa Zambezi Runner-Up Mazi Ukonu – CEO, Recycle Points Zambezi Runner-Up Chioma Ukonu – COO, RecyclePoints Zambezi Runner-Up Ben Njenga – Director of Operations, Apollo Agriculture Zambezi Finalist Rocio Perez Ochoa – Director, Bidhaa Sasa Zambezi Finalist Peris Bosire – Cofounder, Farm Drive Zambezi Finalist Rita Kimani – Cofounder, FarmDrive Zambezi Finalist

While exploring the campus, Forum participants have a surprise encounter and photo-op with Megan Smith, center, a member of the MIT Corporation and the former U.S. Chief Technology Office under President Obama.

20 | LEGATUM CENTER Schandorf Bright Adu – Director of Farmer Services, Farmerline Zambezi Finalist Emmanuel Luthuli – Managing Director, LanteOTC Zambezi Finalist Malizole Mdlekeza – Cofounder and Non-Executive Director, LanteOTC Zambezi Finalist Meghan McCormick (2016–18 Fellow) – Cofounder and CEO, OZÉ Zambezi Finalist Prince Arnold Mortagbe – Customer Success Manager, OZÉ Zambezi Finalist Tosan Oruwariye – Cofounder, MaTontine Zambezi Finalist Adam Grunewald – CEO, Lynk IIC Africa Winner Dysmus Kisilu – Founder, Solar Freeze IIC Africa Winner Participants joined MIT faculty and alumni, investors, media experts, and corporate stakeholders for interactive skills development, panel discussions, networking, and cohort-building. The Forum also incorporated various opportunities to explore entrepreneurial resources and culture at MIT, including an in-depth workshop to explore key issues and other custom-designed sessions on campus. One highlight was a joint class session with Forum participants and Fellows within the Legatum Center, during which the Fellows were asked to map out the business models of Zambezi finalists in order to fuel a collaborative exploration of the opportunities and challenges in building businesses that address financial inclusion needs.

Forum participants spent their final day at the AI and the Future of Work Top: Mapping out positive feedback loops are, left to right, Meghan McCormick, Georgina Congress followed by the IIC Global Gala, during which one Forum partic- Campbell Flatter, Prince Arnold Mortagbe, and ipant, Solar Freeze, won one of the four $250,000 grand prizes. Emmanuel Luthuli. Middle: Fellow Elisa Mansur, left, works with Vishal Ajmera on a visual representation of his venture Tulaa. Bottom: Fellows Christian Ulstrup (top right) and Sergio Medina (left, via robot) present on startup Apollo Agriculture, based on their conversations IN THE NEWS with its director of operations Ben Njenga. “African entrepreneurs visit MIT for leadership boot camp” MIT News | December 11, 2018

LEGATUM CENTER | 21 GLOBAL HEALTH SUMMIT The Legatum Center collaborated with King’s College London to organize the May 22nd summit “Building Sustainable Healthcare Systems through Innovation and Entrepreneurship: An Inclusive and Global Conversation” (mitkingslondonsummit.com). This all-day event was hosted at Bush House in London and showcased the ways in which innovators and entrepreneurs can champion sustainable, scalable, and quality solutions to critical global health challenges while understanding the partnerships and underlying system that makes progress possible. The summit drew 230 attendees and 32 speakers. Summit speakers hailed from over 17 global regions, including Boston, USA; Nairobi, Kenya; Lagos Nigeria; Freetown, Sierra Leone; and Monterrey, Mexico. MIT speakers included Professor Fiona Murray, David Capodilupo, Dr. An- jali Sastry, Dr. Phil Budden, Megan Mitchell, and Georgina Campbell Flatter. MIT alumni entrepreneurs who participated included: • Genevieve Oni (2016 –17 & 2018 –19 Fellow), cofounder, MDaaS Global, Nigeria • Oluwasoga Oni (2015 –16 Fellow), cofounder, MDaaS Global, Nigeria • David Moinina Sengeh (PhD '12), Chief Innovation Officer, Office of the President, Sierra Leone • Javier Lozano (2009 – 10 Fellow), CEO and cofounder of Clínicas del Azúcar, Mexico • Caitlin Dolkart (2015–16 Fellow), cofounder of Flare, Kenya • Alicia Chong (2017–18 Fellow), cofounder of Bloomer Tech, USA/Costa Rica • Anupam Nayak, Eindhoven Medical Robotics, Netherlands

Top: Cofounder of Flare Caitlin Dolkart, right, Other notable speakers included: speaks to Rachel Parr and Andy Leather at a pre- summit reception. • Lord Nigel Crisp, Former CEO, National Health Service (UK) Bottom: Soga Oni talks to summit participants about MDaaS Global, a network of affordable • Suranga Chandratillake, General Partner, Balderton Capital diagnostics clinics he cofounded in Nigeria. • Jacob West, Executive Director, British Heart Foundation • Sir Robert Lechler, King’s College London • Professor Prashant Jha, Head of Affordable Medical Technologies, King’s College London • Funmi Olonisakin, Vice President/Principal (International), Professor of Leadership, Peace and Conflict at King's College London

22 | LEGATUM CENTER • Professor Sebastien Ourselin, Head, School of Biomedical Engineering & Imaging Sciences, King's College London • Julie Devonshire OBE, Head of King’s Entrepreneurship Institute • Dr. Andy Leather, Senior Lecturer in Global Health and Surgery & Director, King's Centre for Global Health and Health Partnerships • Professor Ute Stephan, Professor of Entrepreneurship, King’s Business School, King’s College London • Rachel Parr, COO (Health) King’s College London • Miles Payling, cofounder, CtheSigns • Pahini Pandya, CEO and cofounder, Panakeia • Nadine Hachach-Haram, CEO and cofounder, Proximie Summit participants generated action items for further research and discussion including: • Possible joint student-learning opportunity with a focus on health innovation (i.e. LIGHT— a student grant and 6–8 week pilot in India during summer break or the winter Independent Activities Period) • A draft working paper on entrepreneurship, authored by Dr. Anjali Sastry and Georgina Campbell Flatter • Possible collaboration in Sierra Leone through the office of the country’s Chief Innovation Officer The summit also strengthened relationships with high-impact alumni in growth markets — such as David Moinina Sengeh, Javier Lozano, and Cait- lin Dolkart — and also strengthened international links between MIT and the UK. Finally, the summit served to advance MIT's status as a thought leader on global health, not only through the main event but through media outreach Top: Javier Lozano presents on the network that included a coordinated social media campaign, a pre-summit Twitter of affordable diabetes clinics he established in Mexico, Clínicas del Azúcar. chat, a press release, and an op-ed. The summit also generated valuable in- Middle: A panel discusses how advances tellectual content in the form of video recordings of all individual sessions as in AI and machine learning are creating new healthcare opportunities in growth markets. well as a short highlights video. Bottom: Lord Nigel Crisp, former CEO of the U.K. National Health Service, delivers the summit keynote.

LEGATUM CENTER | 23 THOUGHT LEADERSHIP

CASE STUDIES The Legatum Center continues to address a very specific need within the existing body of business education literature by publishing and dis- tributing free case studies (available at both www.thecasecentre.org and mitsloan.mit.edu/LearningEdge). Our cases focus on innovative growth market ventures, led by principled entrepreneurs, which have high potential for sustainable, scalable socioeconomic impact. Several of our case studies feature ventures founded or cofounded by MIT alumni who the Legatum Center supported through fellowships and/or Voyager Grants. Since 2014, we have published 13 case studies. This year we distributed over 1,500 copies of the cases and teaching notes to educators and students across 27 different countries. Two of our most recent cases, focusing on alumni-founded ventures MAX and Soko, served as the foundation for the class “Hacking Poverty: Entrepre- neurial Leadership in Frontier Markets,” a 3-hour course taught during Oc- tober’s Sloan Innovation Period by Executive Director Georgina Campbell Flatter. Combined, the two sessions attracted 80 first-year MBA students. We also made substantial progress on two additional case studies, which we expect to publish some time in the next year, featuring: • MFS Africa — a pan-African fintech (and 2015 ambeziZ Prize finalist) that facilitates cross-border, cross-currency, and cross-network payments • RLabs — a hybrid social venture in South Africa that aims to reconstruct communities through innovation, technology, and education

Top: Georgina Cambpell Flatter leads a class on "Hacking Poverty," featuring two Legatum Center case studies, during the Sloan Innovation Period. Bottom: This jewelry artisan in Nairobi is part of Soko's "virtual factory" model.

Fernanda de Velasco, fifth from right, cofounded Play Business, Mexico's first equity-based crowdfunding platform.

24 | LEGATUM CENTER OP-EDS

Executive Director Georgina Campbell Flatter authored several opinion piec- THOUGHT LEADERSHIP FROM es examining alumni-founded ventures. LEGATUM CENTER ALUMNUS

• “Social enterprise: what to look for in an MBA course,” appeared October Meghan McCormick is a 2016–18 Fel- 15, 2018 in Financial Times. It focused on the Kenya-based sanitation low and founder of OZÉ, a data-driven startup Sanergy, cofounded by David Auerbach (2011–12 Fellow), Ani insights engine for small business own- Vallabhaneni (2010–11 Fellow), and Lindsay Stradley (MBA '11). ers in Africa. She is also a regular contributor to Forbes. Her articles examine • “La startup que no sólo se creó a sí misma, sino a su entorno” or “The various aspects of the entrepreneurial startup that not only created itself, but its environment,” appeared October landscape in Africa and also celebrate 30, 2018 in Forbes Mexico. It examined Play Business, Mexico’s first women who have started high-impact equity-based crowdfunding site, cofounded by Fernanda de Velasco businesses on the continent. (2015–16 Fellow). Topics this past year have included: • “How entrepreneurs can help developing countries hard-hit by climate change,” appeared February 20, 2019 in Entrepreneur. It focused on • “Africa needs more angel microweather startup ClimaCell cofounded by Rei Goffer (2016–17 investors”— June 16, 2019 Fellow) and Itai Zlotnick (2016–17 Fellow), as well as the agritech startup • “How African entrepreneurs Ricult cofounded by Aukrit Unahalekhaka (2015–16 Fellow). can win the new scramble for In addition, Faculty Advisor Anjali Sastry coauthored the opinion piece “Solv- Africa”— April 26, 2019 ing global health problems requires entrepreneurship,” which appeared on • “In the boardroom and May 21, 2019 in Times Higher Education. It featured thematic ideas from a the birthing room, Afyakit global health summit hosted by MIT Legatum Center and King’s College advances Kenyan women” London (see next section for summit details). —March 9, 2019 • “Fashion entrepreneurs must display these 3 traits to attract investors”— January 31, 2019

Students in Nairobi pose in front of Fresh Life Toilets built by Sanergy, a company cofounded by former Fellows Ani Vallabhaneni and David Auerbach and a third MIT alumnus, Lindsay Stradley.

LEGATUM CENTER | 25 IN THE ECOSYSTEM

SUPPORTED EVENTS In addition to hosting events at MIT, the Legatum Center actively supports and sponsors student-organized conferences and competitions, as well as entrepreneurship events that inspire innovation throughout the world.

Ngozi Nwaneri Venture Competition — Nov 2 The Ngozi Nwaneri Venture Competition in Philadelphia, PA, was run in conjunction with the 26th annual Wharton Africa Business Forum, “Reimagining Africa's Global Partnerships: Unleashing its potential and re- defining pathways to growth.” The competition winner was Tambua Health, a medical technology company that utilizes spectral analysis, artificial intelligence, and machine learning to diagnose lower respiratory tract infections. Director of Fellowship and Student Programs Megan Mitchell and Senior Marketing and Events Associate Kavan O’Connor represented the Legatum Center at the event.

Harvard Africa Business Conference — Feb 15–16 The theme of this year’s conference, organized by Harvard Business School, was Africa Forward: Forging New Alliances for the Future. Mark Adams, 2018–19 Fellow and founder of Agrilink in Zambia, spoke on the agriculture panel. Juliet Wanyiri, 2017–19 Fellow and founder of Foondi in Kenya, spoke on the education panel. Megan Mitchell, Acting Director, spoke on the social entrepreneurship panel.

Asia Business Conference — Mar 2 The theme of this year’s conference, hosted by the MIT Media Lab, was Impact Asia. Sanjay Manandhar, an alumnus of MIT and Entrepreneur in Residence at the Legatum Center, moderated the panel on Consumer Technology and Trends.

MBA Impact Investing Network & Training (MIINT) finals — Mar 7 Julia Turnbull, Assistant Director of Student Programs, participated as a judge. The fintech Kwara was selected to go to the national finals at Wharton.

26 | LEGATUM CENTER MIT Sloan Africa Innovate Conference — Apr 14 This annual conference, hosted by the MIT Sloan Africa Business Club, brings together leading entrepreneurs and change agents from across the African continent. One of the Legatum Center’s OMA@MIT series events was incorporated into the conference agenda (see page 16). Acting Director Megan Mitchell offered an entrepreneurship overview to introduce a “Founders Stories” session featuring five MIT alumni (four of them Fellows within the Legatum Center) who discussed their experiences starting companies: Claude Grunitzky (Sloan MBA), Chairman, TRUE Africa; Michael Beeler (2015–16 Fellow), founder of 1Room; Sergio Medina (2018–19 Fellow) founder of RISE; Genevieve Barnard Oni (2016–17 & 2018–19 Fellow), cofounder of MDaaS Global; and Juliet Wanyiri (2016–18 Fellow), founder of Foondi. Juliet Wanyiri also moderated a panel on manufacturing.

MIT Global Startup Workshop — May 27–28 This annual student-run conference, hosted this year in Bogotá, Colombia, brings together entrepreneurs, students, investors, and key stakeholders from across the world to accelerate the entrepreneurial ecosystem of a host region. Acting Director Megan Mitchell moderated a panel on Advanced Technologies and Social Entrepreneurship and also mentored teams in the business plan competition. In his plenary remarks, the President of Colombia thanked Megan Mitchell and the Legatum Center for our support of the conference.

MIT Sloan & HBS Latin American Conference — Apr 6–7 The Legatum Center sponsored 3 students to participate in the MIT Sloan & Harvard Business School Latin American Conference, including 2018–19 Fellow Michel Mosse.

LEGATUM CENTER | 27 OUTREACH The Legatum Center engaged in a variety of outreach activities both across campus and externally. Below are some of the highlights:

Techstars Impact On July 12, the Legatum Center published an article in MIT News show- casing three MIT-incubated ventures (two of them cofounded by Fellows) selected to participate in the very first Techstars Impact accelerator. Among the ten ventures comprising this Austin-based accelerator’s first cohort were Base Operations cofounded by Cory Siskind (2016-18 Fellow), and MDaaS

Fellows Cory Siskind, Genevieve Barnard Oni, Global cofounded by Soga Oni (2015-16 Fellow) and Genevieve Barnard and Soga Oni (second, third, and fourth from Oni (2016-17 & 2018-19 Fellow). left) completed the first Techstars Social Impact Accelerator in Austin. Sloan Entrepreneurship & Innovation (E&I) Track In September, Director of Fellowship and Student Programs, Megan Mitchell, presented at an E&I track class to first-year MBA students interested in an entrepreneurship concentration.

Venture Engineering On October 18, Executive Director Georgina Campbell Flatter guest taught a section of the MIT course Venture Engineering, using the Soko case study authored by Legatum Center.

Global Consortium of Entrepreneurship Centers On October 20, Georgina Campbell Flatter and Megan Mitchell presented on the Legatum Center at the Global Consortium of Entrepreneurship Cen- ters, an annual conference in Chicago organized to address emerging topics of importance to the nation’s university-based centers for entrepreneurship.

MIT 100K Latin America Competition On October 23, Assistant Director of Student Programs Julia Turnbull traveled to Buenos Aires, Argentina, to participate as a judge in the Oct. 23 MIT 100K Latin America entrepreneurship competition jointly sponsored by the MIT Latin America Office and the Institute of Technology of Buenos Aires. While in Buenos Aires, Julia visited Universidad Torcuato di Tella, the Wayra Accelerator Space (funded by Telefonica), Kaszek Ventures, NXTP Labs, the Bitcoin Community Space, the fintech startup Credibility, the Center and Bottom: Our Our multi-use, founder of Casa Campus, and the U.S. Embassy to share information about modular space, which we use to host a variety of networking and outreach events, is also open the Legatum Center with prospective students, entrepreneurship education to members of the MIT community who need a colleagues, and partners. place to work, collaborate, and learn.

28 | LEGATUM CENTER Huberto Rodriguez On November 28, Anjali Sastry hosted Colombian innovator Huberto Ro- driguez, founder of Grupo SALA, for conversations with Fellows, Voyager Grantees, and other students about the potential for new business models to address waste, sanitation, and water.

Sloan Executive MBA (EMBA) Program On November 30, Sergio Medina, a 2018–19 Fellow and EMBA student, coordinated a Legatum Center information session for his EMBA cohort. Lais Fonseca, Riana Shah, and Danilo Limoiero (all 2018–19 Fellows within the Legatum Center), also presented their ventures and fellowship experiences to the group. Juliet Wanyiri moderates a panel discussion with other MIT alumni at Nairobi Garage in Kenya. StartMIT On January 14, Acting Director Megan Mitchell moderated a discussion on global entrepreneurship as part of the StartMIT program. 2016–17 Fellow Soga Oni and 2017–18 Fellow Alicia Chong Rodriguez were panelists.

Admissions Webinar On January 24, Megan Mitchell hosted an Admissions Webinar for Sloan MBAs and Sloan Fellows to discuss the Legatum Center and the Fellowship.

Nairobi Garage On January 29, Juliet Wanyiri (2017–19 Fellow) focused on "Entrepreneur- ship Pathways" with other MIT alumni at Nairobi Garage in Nairobi, Kenya which was attended by over 70 guests.

MIT Innovation Initiative’s Resource Roundup On February 13, the Legatum Center participated in the MIT Innovation Initiative’s Resource Roundup in the Stata Center to share information about programs with graduate and undergraduate students.

Welsh Innovation Leaders Julia Turnbull, right, who served as a judge in the 100K Latin America Competition, stands with In early March, Megan Mitchell met with 12 leaders of Welsh innovation the "Launch" category winner Monica Barca from Peru, whose venture deploys drones to monitor hubs and government representatives who were visiting MIT through the air quality. Industrial Liaisons Program.

Harambe Symposium On April 5, the Legatum Center hosted The Harambe Symposium, which served as the induction of the new cohort of entrepreneurs. 2014–15 Fellow Tayo Bamiduro gave a keynote address and Megan Mitchell presented on the Legatum Center. The Harambe Alliance is a network of leading African entrepreneurs that is present in 34 African countries.

LEGATUM CENTER | 29 IN THE TRENCHES

The Legatum Center has a strong network of alumni who are scaling ventures around the world and who actively engage in MIT’s entrepreneurship ecosystem by advising current Fellows, meeting with prospective MIT students in their markets of implementation, and participating in Fellowship classes, conferences on campus, and entrepreneurship events globally. Several of these alumni have reached noteworthy (and newsworthy) milestones with their ventures over the past year. Below are some examples.

ALUMNI SPOTLIGHTS Adetayo “Tayo” Bamiduro MBA ’15, 2014-15 Fellow Chinedu Azodoh MBA ’15 MAX (Metro Africa Xpress) Based in Lagos, Nigeria, MAX is a revolutionary motorcycle taxi and delivery service that has now completed over 1 million trips. Having recently secured $6 million in Series A funding plus an additional $1 million in grants, MAX will be expanding to 10 West African cities starting in Ghana and Ivory Coast. They’ll also be adding new vehicle classes to their services, including water- craft and three-wheeled tuk tuk taxis, and will be piloting electronic vehicles IN THE NEWS too. “Our goal is to transform the entire African continent,” said cofounder “MAX.ng raises $7M round backed by Yamaha Tayo Bamiduro, “one city at a time.” and pilots EVs in Nigeria” TechCrunch | June 20, 2019

Sam Bhattacharyya MBA ’16, 2014-15 Fellow Vectorly (formerly dotLearn) Vectorly is a video compression startup that can reduce the file size of geomet- ric videos (such as slide lectures, screencasts, and animations) tenfold. Until recently, the company had been a B2C venture called dotLearn, launched to create a mobile learning app that would make education accessible to 50 million new students by 2022. Various scaling challenges, however, pushed cofounder Sam Bhattacharyya to consider a challenging pivot toward partnership with other edtechs. “I thought it was a better way to advance the social mission,” Bhattacharyya said. As of January, Vectorly was working with IN THE NEWS 12 companies in a pilot test and had processed over 2,000 videos using its “Vectorly reinvents itself to maximize its vector graphics technology. Vectorly now aims to save these content providers impact on mobile learning” millions in data costs and help them expand their reach. MIT News | January 23, 2019

30 | LEGATUM CENTER Caitlin Dolkart MBA ’16, 2015-16 Fellow Flare Emergency Response Flare, the “Uber for Ambulances” venture founded in 2016, won accolades for their expeditious response to the terrorist attacks on a Nairobi hotel in January. Thanks to Flare’s coordination and dispatch platform, the first ambulance arrived on the scene within minutes of the initial alerts being sent, and 20 emergency vehicles arrived within the first hour— a significant improvement in response time compared to similar attack just a few years prior. According to IN THE NEWS cofounder Caitlin Dolkart, Flare now coordinates with over 500 ambulances “Kenya's ambulance 'Uber' at heart of across Kenya and hopes to expand into fire and security services as well. siege rescue” Reuters | February 4, 2019

Rei Goffer MBA ’17, 2016-17 Fellow Itai Zlotnik MBA ’17, 2016-17 Fellow ClimaCell Since launching in 2015, the “microweather” venture ClimaCell—which generates weather data using wireless communications networks—has raised $70 million in funding and attracted major customers from industries de- pendent on minute-to-minute forecasting like air travel, professional sports IN THE NEWS and construction. In January, ClimaCell announced a 40-country rollout that included India, a growth market with minimal weather infrastructure, where the “Backed by Ratan Tata, SoftBank, this startup predicts when the next flood will hit you” company aims to revolutionize the country’s early warning system for floods. Economic Times | April 24, 2019

Javier Lozano MBA ’10, 2009-10 Fellow Clínicas del Azúcar Clínicas del Azúcar, a network of affordable, one-stop diabetes care centers in Mexico, reduces the cost of care for patients by as much as 60 percent, and since 2011 has treated over 20,000 patients. "Typically, innovations in healthcare increase costs, because they’re looking for the better technology," said cofounder Javier Lozano, yet serving low-income patients means "finding innovations that reduce costs." As of April, Clínicas del Azúcar was operating IN THE NEWS in 12 locations with plans to open three new clinics over the next few months. “Clínicas del Azúcar’s one-stop diabetes centers marry health innovation with affordability” Impact Alpha | April 16, 2019

LEGATUM CENTER | 31 Oluwasoga Oni SM ’16, 2015-16 Fellow Genevieve Barnard Oni MBA ’18, 2016–17 & 2018–19 Fellow MDaaS Global MDaaS Global’s clinics in Nigeria offer affordable diagnostic services like ultrasounds, X-rays, and other lab services which were previously inaccessi- ble to many families living in less urban areas. MDaaS has accomplished this by building a supply chain to acquire refurbished medical equipment and by using technology to streamline operations. Since opening its first clinic two years ago, MDaaS has diagnosed more than 10,000 patients. In June, they announced the closing of a $1 million funding round. Cofounders

IN THE NEWS Oluwasoga Oni and Genevieve Barnard Oni said they will use these funds to export the MDaaS model to other areas of Nigeria and West Africa, “World-class diagnostics for low-income with the goal of operating 100 diagnostic centers within the next five years. communities in sub-Saharan Africa” MIT News | July 11, 2019

Cory Siskind MBA ’18, 2016-18 Fellow Base Operations Base Operations aggregates crime information from several sources including crowdsourced reports, news and social media, government statistics, and partner data in order to provide users with real-time maps and tools that help them safely navigate the city. Launched in Mexico City in the spring of 2018, Base now operates in 11 Latin American cities. Base completed the first Techstars Social Impact Accelerator in Austin and has since raised $700,000 in pre-seed funding. In addition to its free app, which is geared toward tourists and travelers, Base has also launched a subscription-based IN THE NEWS enterprise platform which helps Fortune 500 companies protect their global workforce by providing tools to employees and security personnel. “[Safety] “Base Operations, an MIT secure-tech startup, aims to protect Fortune 500 companies is a very real problem that companies face when they expand internationally, abroad” but they can’t not be a global company,” said founder Cory Siskind. Forbes | April 2, 2019

32 | LEGATUM CENTER Conor Smith MBA ’18, 2017-18 Fellow New Day New Day, based in Myanmar, is an automated recruiting service that offers career guidance, application readiness, and interview preparation for job-seek- ing clients, and uses an algorithm to match their skills with employers looking for new hires. More than 50 employers are posting jobs through New Day, and there are about 60,000 resumes generated through the platform, about half of which are from active monthly users. New Day has raised approximately $250,000 in non-equity funding, and according to founder Conor Smith, the company’s next steps are to raise a seed round in the second half of 2019 and continue growing both user sides of its platform. “Our secret sauce, especially in the medium- to long-term, is in our matching algorithm, so IN THE NEWS we are focused on assessing and increasingly improving our abilities using “New startup seeks jobs and growth for that,” said Smith. Myanmar’s entry-level workers” MIT Sloan News | February 14, 2019

Aukrit Unahalekhaka SM ’16, 2015-16 Fellow Ricult “Farmers are at the bottom of the pyramid in developing countries, so if you want to drive these countries forward and reduce inequality, you have to transform the agricultural sector,” says Aukrit Unahalekhaka. The company he cofounded, Ricult, is a mobile-based platform that gives smallholders access to affordable capital, market alerts, direct access to produce buyers, and cutting-edge farming techniques—a suite of services that has boosted farmers’ profits by 30 – 40 percent. Ricult currently works with 10,000 smallholders in both Thailand and Pakistan and aims to reach 100,000 by year’s end. Ricult also provides personalized advice to farmers on how to maximize their yields based on soil tests and, more recently, hyperlocal IN THE NEWS weather forecasts. In a pilot study, by enhancing farmers’ access to quality weather data, Ricult was able to further increase farmers’ productivity by “Platform helps farmers out of extreme helping them determine the optimal times to sow, fertilize, and harvest. poverty” MIT News | November 14, 2018

LEGATUM CENTER | 33 OUR NEW EXECUTIVE DIRECTOR

DINA H. SHERIF We’re delighted to welcome Dina H. Sherif as the new Executive Director for the Legatum Center at MIT. Dina is an experienced practitioner and scholar of entrepreneurship, and has dedicated a significant portion of her career to entrepreneurship as a vehicle for social impact and sustainable development, making her uniquely qualified to lead the Center as it looks toward enhancing its global presence. Dina has long championed social entrepreneurship as a pathway to solving some of the Middle East and North Africa region’s most pressing challenges. In 2012 Dina co-founded Ahead of the Curve to support social entrepreneurship in growth markets. At the American University in Cairo (AUC), Dina held the endowed Wil- lard Brown Chair for International Business and taught classes on social entrepreneurship and business ethics. She also served as Executive Director of the AUC Center for Entrepreneurship, and prior to that helped build and co-manage the John D. Gerhart Center for Philanthropy and Civic Engagement, also at AUC. Dina coedited the book From Charity to Social Change: Trends in Arab Philan- thropy, and has been lead author of several publications including reports like the 2015 UNDP Business Solutions Report and a first-of-its-kind, eight-country study on trends in responsible business practice and social entrepreneurship in the Arab region. She also sits on the boards of Qalaa Holding, Smart Medical Services, and Educate Me. Dina is a Senior Ad- visor to Ashoka, and sits on a Special Advisory Council for Economic De- velopment reporting to the President of Egypt. She holds an MPA from the Harvard Kennedy School, an MA in Economic Development Studies from AUC, and a BA in Political Science and International Relations from AUC.

34 | LEGATUM CENTER Fellow Elisa Mansur is developing a network of home-based daycare centers in Brazil to deliver early childhood education to low-income neighborhoods. Her venture won the 2018 World Bank Youth Summit competition. THE LEGATUM CENTER TEAM

Fiona Murray Dina H. Sherif Faculty Director, Legatum Center Executive Director, Legatum Center Associate Dean for Innovation & (starting Sept. 2019) Co-Director MIT Innovation Initiative Senior Lecturer, MIT Sloan William Porter Professor of Entrepreneurship, MIT Sloan

Georgina Campbell Flatter Megan Mitchell Executive Director, Legatum Center Acting Director (starting January (until January 2019) 2019) & Director of Fellowships & Senior Lecturer, MIT Sloan Student Programs, Legatum Center

Anjali Sastry Artafern Afsar Faculty Advisor, Legatum Center Associate Director of Finance & Senior Lecturer, System Dynamics, Administration, Legatum Center MIT Sloan

Julia Turnbull Ali Diallo Assistant Director of Student Programs, Global Programs Manager, Legatum Center Legatum Center (until January 2019)

Kavan O’Connor James Cooney Senior Marketing & Events Associate, Communications Coordinator, Legatum Center Legatum Center

Eileen Carney Nick Meyer Senior Administrative Assistant, Entrepreneur in Residence, Legatum Center Legatum Center (until January 2019)

Sanjay Manandhar Entrepreneur in Residence, Legatum Center (starting January 2019)

We are sorry to say goodbye this year to Ali Diallo, Nick Meyer, and Georgina Campbell Flatter. Thank you for your dedication to the Legatum Center, and for your continued efforts to champion principled entrepreneurship. We wish you luck in your next adventure!

36 | LEGATUM CENTER OUR SUPPORTERS

THE LEGATUM CENTER SUPPORTERS We would like to thank our supporters for funding the Legatum Center’s programs and enabling us to prepare the next generation of entrepreneurial leaders. With their support and guidance, we are able to achieve our mission of accelerating prosperity through innovation-driven entrepreneurship.

THE LEGATUM GROUP Legatum is a private investment partnership with a 30-year her- itage of long-term value creation through investments in global capital markets. The firm invests proprietary capital in listed businesses with a focus on identifying hidden or unrealised value in investment themes that are often played out over years. Legatum’s Mission is to generate and allocate the capital and ideas that help people live more prosperous lives. For over a decade, Legatum has been promoting prosperity through strategic philanthropy and has changed the lives of over 270 million people. Legatum’s vision is to see a more prosperous world, and it is committed to using its capital to help make that a reality. Over the years, Legatum has originated, incubated, and scaled ground-break- ing interventions that tackle some of the biggest challenges of our generation, which include: the END Fund, to control and eliminate NTDs; the Freedom Fund, to combat modern slavery; the Luminos Fund, to create education innovations to unlock the light within every child; the Legatum Institute, to enable prosperous societies; and the Legatum Center for Development and Entrepreneurship at MIT, to create principled leaders who want to change the world. For more information, please visit www.legatum.com.

THE MASTERCARD FOUNDATION The Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. The Foundation’s work is guided by its mission to advance learning and promote financial inclusion for people living in poverty. One of the largest foundations in the world, it works almost exclusively in Africa. It was created in 2006 by Mastercard International and operates independently under the governance of its own Board of Directors. The Foundation is based in Toronto, Canada. For more information and to sign up for the Foundation’s news- letter, please visit www.mastercardfdn.org. Follow the Foundation at @MastercardFdn on Twitter.

LEGATUM CENTER | 37 HRH PRINCESS MOUDI BINT KHALID FELLOWSHIPS WITHIN THE LEGATUM CENTER HRH PRINCESS The Royal Family of HRH Princess Moudi in Saudi Arabia has committed MOUDI BINT KHALID to supporting the Legatum Center through a generous endowment. This gift FELLOWSHIPS provides educational and project funding to entrepreneurial MIT students who are citizens or residents of the Gulf Cooperation Council (GCC) countries or Yemen and whose projects benefit these countries.

JACOBS FOUNDATION The Jacobs Foundation invests in the future of young people so that they become socially responsible and productive members of society. In order to achieve this goal, children and youth must be given better opportunities for positive development and equitable access to education. Whatever their background, place of residence, or family income, all children should have the chance to reach their full potential. Early childhood plays a key role in this context; research has shown that this is the most important developmental phase in a person’s life. Moreover, educational programs and resources need to address each child’s individual needs. In the 21st century, new technologies aimed at facilitating individualized learning are becoming increasingly important. This is why the Jacobs Foundation is funding global research on learning and child development, supporting innovative scientists, and implementing practical projects in early childhood and rural livelihoods. To learn more about the Jacobs Foundation visit https://jacobsfoundation.org/en

MIT The Massachusetts Institute of Technology — a coeducational, privately endowed research university — is dedicated to advancing knowledge and ed- ucating students in science, technology, and other areas of scholarship that will best serve the nation and the world in the 21st century. The Institute has more than 1,000 faculty and 11,000 undergraduate and graduate students. It is organized into five Schools — Architecture and Planning, Engineering, Humanities, Arts, and Social Sciences, Management, and Science — and the Whitaker College of Health Sciences and Technology. Within these are thir- ty-three degree-granting departments, programs, and divisions. In addition, a great deal of research and teaching takes place in interdisciplinary programs, laboratories, and centers whose work extends beyond traditional departmental boundaries. The board of trustees, known as the Corporation, consists of about 73 national and international leaders in higher education, business and industry, science, engineering and other professions.

38 | LEGATUM CENTER REPORT CREDITS

LEAD EDITOR James Cooney

WRITERS/EDITORS James Cooney Julia Turnbull Megan Mitchell Kavan O'Connor

LEAD PHOTOGRAPHER Kavan O’Connor

OTHER PHOTOGRAPHERS Legatum Center staff, students, and alumni

GRAPHIC DESIGN Joel Kido-Sadagursky Opus Design LEGATUM CENTER FOR DEVELOPMENT & ENTREPRENEURSHIP

Massachusetts Institute of Technology 77 Massachusetts Avenue Cambridge, Massachusetts 02139 USA +1 617 324 1875 Website: http://legatum.mit.edu Twitter: @mitlegatum

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