Rwandan entrepreneurs have been invited to apply for a fully-funded program launched by MIT’s Legatum Center for Development and Entrepreneurship.
The program, ‘Foundry Fellowship’ will benefit all entrepreneurs who are considering their role in shaping the future of the African innovation ecosystems in which they work and live.
Besides Rwanda, the fellowship has also been opened to entrepreneurs working and living in Ethiopia, Ghana, Nigeria, Kenya, Senegal, and Uganda.
At an inflection point in their entrepreneurial journeys, Fellows will learn from MIT faculty, connect with investors, and expand their network of peer innovators, reads part of a statement released by the institution.
The program includes an interactive online curriculum followed by a three-week immersive session that brings the cohort together to explore innovation-driven ecosystems.
Consequently, the fellowship presents a unique opportunity to bring MIT resources and knowledge to these critical innovation ecosystems.
Professor Fiona Murray, Faculty Director of the Legatum Center, described this opportunity to expand MIT’s innovation network "[as] a moment for the Fellows to reflect on [their entrepreneurial] journey that also allows us to learn from them.”
She thinks entrepreneurs can use this experience as a stepping-off point as they move to the next stage of ecosystem-wide leadership.
"As a school dedicated to the development of principled, innovative leaders who improve the world, MIT Sloan looks forward to welcoming the Legatum Foundry Fellows to Cambridge and to the MIT community,” said David Schmittlein, John C Head III Dean of the MIT Sloan School of Management.
Through this collaboration with the Mastercard Foundation, the Foundry Fellowship will deepen the impact of leaders who are solving complex problems, creating jobs, and bringing essential services to millions through innovation-driven business models, the statement adds.
With the world’s fastest-growing youth population, Africa is home to 4 of the world’s top 5 fastest-growing economies.
The continent also has the fastest urbanization rate in the world, with a rapidly expanding middle class predicted to increase business and consumer spending.
Thus, innovation and entrepreneurial solutions are a critical component to continued growth and prosperous people and societies across the continent.
Similarly, as a global network of entrepreneurs, investors, and leaders, the Legatum Center’s Foundry offers a platform for leaders to share their stories and consider new ways to extend their impact in their local ecosystems and globally.
Dina Sherif, Executive Director of the Legatum Center argues, "To propel Africa forward and remain competitive globally, we need innovation-led entrepreneurship and robust African entrepreneurial ecosystems.”
She asserts that the Fellowship supports African entrepreneurs to transition to entrepreneurial leaders who work with various stakeholders to strengthen and improve their ecosystems.
From May 3 through 20, applicants can submit their applications to the Legatum Centre.
Nomination and application information is available here.