Legatum Center for Development and Entrepreneurship at MIT

During our recent ecosystem tour to Nairobi Kenya, our Foundry Fellows and our Executive Director, Dina H. Sherif had the opportunity to speak with Kanali Nixon of TechTrends Media about the work of the Center, our fellows and the future of entrepreneurship and innovation in Africa. In the first episode of this multi-part series set to release over the next few weeks, Dina shares her vision for Africa’s transformative potential in innovation and entrepreneurship. In the conversation, she shares some of the critical next steps for Africa to unlock that future. Thank you Nixon, Alex Owiti and TechTrends Kenya for the opportunity for our team and community to share the mission of the Center and we look forward to sharing more from this series! Watch the first episode now on all podcast platforms and?YouTube: https://lnkd.in/gM4a8K9i

As part of our weekly course for our Legatum Student Fellows,?we welcome community members to share valuable insights from their work and the ever-expanding world of?entrepreneurship and?innovation with the?Fellows. This week, our Student Fellows were joined by?Jo Aggarwal?and?Ramakant Vempati, co-founders of the AI-powered mental health platform?Wysa,?and Professional Advisors to the Center. In a session moderated by our Director of Fellowships, Haitham Khoury, Ph.D., they shared their philosophy of?“permission-less impact”?and inspired Fellows with their journey as innovators and mission-driven entrepreneurs. ? Jo and Ramakant shared the origins of Wysa, and how personal struggles became the foundation for building a new mental health solution. They both emphasized that true leadership begins with self-awareness and the ability to connect with yourself. From that place of authenticity and clear purpose, founders can inspire others to share in their mission and work toward a collective impact; they explained that deeply held values act as an anchor through both milestones and obstacles. ? Another highlight of the discussion was their advice on securing funding as a social entrepreneur. Jo reminded Fellows of the importance of aligning with investors who share your vision, noting:?“The best investors make you feel like you will succeed; the worst make you feel like you can’t succeed without them”.?This intentionality in selecting financial partners can shape the future of a venture, ensuring that the mission remains?true to?its core. ? Ramakant spoke on different layers of impact as social innovators and how they build on each other, likening it to peeling back layers of an onion. Effective change starts with your “audience of one”—the individuals directly served by your product or service. From there, impact radiates outward, eventually influencing policies and systemic structures. This type of approach is powered through collaboration and working with a diverse network, which helps build solutions that are not only innovative but also deeply aligned with the needs of those you serve. Collaboration, they noted, ultimately strengthens people’s belief in your mission while also making your product better. ? Lastly, Jo and Ramakant highlighted the unique value of building ventures in growth markets. While other regions might offer more lucrative opportunities, creating a venture in your home market carries both personal and systemic significance. Ramakant explained that building in a home market fosters a deeper sense of vested interest within the team and drives a shared commitment to the organization’s mission. For Wysa, building a platform that helps individuals feel heard and supported—regardless of where they are—has been both rewarding and impactful. With a dedicated, connected team, Wysa has contributed to structural changes in public health strategies locally while also normalizing conversations around mental health on a broader scale.

“I think of myself more like a candle. Where I don’t just light up what’s around me, but my purpose is also to light up other candles, as many as possible.” In the latest episode of A Legacy of Purpose: Conversations with Dina H. Sherif, Dina sits down with Ridzki Kramadibrata, former President and now Commissioner of Grab Indonesia—a leading super app in Southeast Asia, providing everyday services such as mobility, deliveries, and digital financial services to millions of Southeast Asians. Together, they explore the intersection of leadership, technology, and social impact. Ridzki shares the incredible journey of Grab Indonesia, from navigating the challenges of a global pandemic to becoming a lifeline for millions of micro-entrepreneurs. Focused on solving real-world problems, he describes how Grab Indonesia has become more than just a super app—it’s a catalyst for prosperity in the region. This episode delves into the power of purpose-driven leadership, innovation as a force for good, and Ridzki’s personal insights on how emerging markets offer unique lessons in adaptability and impact. Watch our latest episode now to hear more about Ridzki and Grab Indonesia’s journey of impact and purpose in Indonesia and beyond. Available on Spotify, Apple Podcasts, and YouTube. https://lnkd.in/gp4Afcf7

In just a few days, The Legatum Center for Development and Entrepreneurship at MIT is excited to host an insightful fireside chat with Anthony Richter, Former Director of Special Initiatives at the Open Society Foundations. Led by our Scholar in Residence, Shamil Ibragimov, this conversation will explore how philanthropy can be a powerful catalyst for innovation in growth markets. Be part of the conversation! Date:?November 21st, 2024 Time:?12:30 PM - 2:00 PM EST Location:?4th Floor, 292 Main Street, Building E38, Cambridge, MA 02142 Secure your spot here:?https://lnkd.in/eFibgXs9

???Last month, Cauris had the privilege of participating in the?Hedging Currency Risk: Innovative Strategies for SMEs in Africa?workshop, hosted by the Legatum Center for Development and Entrepreneurship at MIT and the Kuo Sharper Initiative KSI. This insightful event placed African SMEs at the forefront, exploring practical strategies to scale capital and mitigate the challenges posed by currency volatility—one of the biggest obstacles faced by SMEs. ???The workshop brought together African entrepreneurs, banks, DFIs, investors, and thought leaders to discuss scalable and affordable solutions that promote sustainable growth across the continent. Cauris, believes that?responsibly financing Africa's missing middle?is essential for fostering economic resilience and development. The energy and insights shared underscored the urgent need for innovative currency risk mitigation strategies that not only protect investor interests but, crucially, empower SMEs. Read more about Cauris's belief that developing new and innovative solutions for currency risk mitigation is vital for Africa's SMEs, and why SMEs are key to Africa's economic future!?https://lnkd.in/gcerzYex Alexander Raia, Sayuri Sharper, Dina H. Sherif #SMEs #ImpactInvesting #Africa #FinancialInclusion #Innovation #SustainableFinance #EmpoweringEntrepreneurs #MITLegatumCenter #KuoSharperInitiative #CaurisFinance

This Friday Nov 22, the Legatum Center at MIT will welcome a delegation from the High Technology Park of the Kyrgyz Republic. Led by our Scholar-In-Residence and native of Kyrgyzstan, Shamil Ibragimov, the visit underscores our commitment to supporting Central Asia’s emerging entrepreneurial and innovation ecosystems. The day will feature Shamil's presentation on our latest research on Central Asia, a tour of the MIT ecosystem and discussions on potential collaborations to advance innovation across the Central Asia. We look forward to fostering new connections and advancing entrepreneurship and innovation in global growth markets. Stay tuned for updates and insights from the visit, along with the upcoming launch of our latest research on innovation ecosystems in Central Asia. Azis Abakirov MIT Office of Innovation

Last week, the Legatum Center for Development and Entrepreneurship at MIT had the pleasure of hosting a fireside chat with the Honorable Meredith Berger, Assistant Secretary of the Navy for Energy, Installations & Environment, as our featured speaker. Moderated by Professor Dame Fiona Murray, DCMG, CBE, MIT Sloan’s Associate Dean of Innovation, the conversation explored the Navy’s role in addressing the climate crisis. The discussion focused on how innovation, partnerships, and cross-sector collaboration are essential for building resilience in an evolving environmental and geopolitical landscape. ? Meredith Berger emphasized the “3 Cs” that define her approach: Communities, Critical Infrastructure, and Climate Adaptation. These guiding principles are central to the Navy’s mission, ensuring operational readiness and resilience in the face of environmental challenges. Key insights from the conversation included: ? ???Innovation at the Forefront:?Tackling climate challenges requires bold, forward-thinking solutions that can be scaled to address environmental impacts and uplift communities. Emerging technologies and creative approaches have the power to transform climate resilience, particularly in growth markets, where sustainable development can create lasting impact and drive economic opportunity. ? ???Collaboration and Learning from Indigenous Solutions:?Climate resilience is inherently collaborative, with partnerships across sectors, nations, and communities providing the foundation for effective responses. Diplomacy in climate action involves not only sharing ideas but also learning from indigenous solutions deeply attuned to local environments. These community-driven approaches offer valuable insights into sustainable practices and resource management. ? ???Cross-Sector Partnerships:?The discussion also emphasized the importance of building partnerships that span government, industry, and academia. The Department of the Navy actively engages with innovators through consortiums, grant funding, and collaborations with universities to drive breakthrough solutions for climate resilience. These partnerships foster an environment where knowledge and resources can be shared, leading to impactful climate action both in the U.S. and in global growth markets. ? Watch the full recording to explore how collaborative innovation is shaping a more resilient and sustainable future for communities worldwide. https://lnkd.in/gXcMj76r

Yesterday was the final day of the Foundry Fellowship Nairobi Ecosystem Tour, our fellows took part in a dynamic event with Enda Athletic, Inc., spoke with local media, and joined insightful discussions with entrepreneurs and government organizations on how the Nairobi ecosystem can continue to foster and support innovation in the future. The day began with an event hosted by Enda Shoes, Africa’s first athletic footwear brand, where Paralympic world-record holder and distinguished long-distance runner HON. HENRY WANYOIKE OGW ,HSC, (Visually impaired) spoke about how Enda has impacted his performance, and his success as a Kenyan national competing at such a high level. Thank you to our gracious hosts at Enda: Elis Clementino and her team. The fellows then explored the immense cross-sector technological opportunity present in Kenya with the Kenya Space Agency, learning about their work to connect ecosystem stakeholders and equip the private sector with powerful tools developed by the Agency. Many thanks to Charles Mwangi, Jacques matara, and their team for hosting us. The day also included media interviews with TechTrends’ Kanali Nixon and NTV’s Brian George Otieo, giving each fellow a platform to share their entrepreneurial stories. Lastly, we met with World Bank representatives to discuss how private sector involvement can steer their mission of prosperity across Africa. Thank you to Isfandyar Zaman Khan and his colleagues for an insightful conversation about the Bank’s strategic direction in Kenya.

Next week, we’re thrilled to welcome Anthony Richter, Former Director of Special Initiatives at the Open Society Foundations, for another engaging fireside chat hosted by our Scholar in Residence, Shamil Ibragimov. This discussion will explore the transformative role of philanthropy in fostering innovative ecosystems within growth markets. Anthony brings decades of experience as a leading force in global philanthropy. His groundbreaking contributions include programs like The AFAC - The Arab Fund for Arts and Culture Arts and Culture, Revenue Watch, the Natural Resources Governance Institute, and the Open Government Partnership. Additionally, he has played a pivotal role in establishing over 20 Open Society foundations across Eurasia, the Middle East, and South Asia, with a legacy of impactful work in arts, culture, and governance. Date: November 21st, 2024 Time: 12:30 PM - 2:00 PM EST Location: 4th Floor, 292 Main Street, Building E38, Cambridge, MA 02142 RSVP by following this link: https://lnkd.in/eFibgXs9

Happening Now! Join us as?Professor Dame?Fiona Murray?DCMG CBE, Associate Dean of Innovation at MIT Sloan, and?Honorable?Meredith Berger, Assistant Secretary of the US Navy for Energy, Installations, and Environment, dive into this special conversation. hop onto the livestream right here, right now! https://lnkd.in/edMgah74