Legatum Center for Development and Entrepreneurship at MIT

"Resilience isn’t just about survival—it’s about transformation." For our last episode of “A Legacy of Purpose: Conversations with Dina H. Sherif” in 2024, we were joined by Dr. Alaa Murabit, physician, UN High-Level Commissioner, and Director of Global Programs, Advocacy, and Communications at the Gates Foundation, together we explore her advocacy for women in leadership, the power of radical resilience, and the systems change needed for a more equitable world. Alaa’s impact spans health, women’s rights, and climate resilience, rooted in her deep belief that transformation is possible at the intersection of courage, collaboration, and compassion for those most unrepresented by society. We were honored to host Alaa for our 4th episode. Whether you’re an entrepreneur, advocate, or simply someone who values impactful stories, this conversation will leave you inspired.   Watch our latest episode now to hear more about Alaa’s journey of impact and purpose across the world. Available now on Spotify, Apple Podcasts, and YouTube. Watch Now: https://lnkd.in/gzTivSjR Listen Now: https://lnkd.in/gqaWKGEX

When we think about supporting small businesses in volatile markets, solutions often focus on finance access, lending costs, and risk mitigation tools. But is that truly enough to champion today’s entrepreneurs?   In our latest blog following our “Hedging Currency Risk” workshop this past October, Micheil Banoub, Director of Programs at Kuo Sharper Initiative KSI, reflects on his time in Zambia, exploring innovative currency hedging strategies to tackle the high-stakes challenge of operating in a fluctuating economic environment. Micheil dives into the real cost of borrowing in local currency and the challenges of navigating Zambia’s complex financial environment. Micheil also examines the pros and cons of various hedging tools, including FX swaps and non-deliverable forwards (NDFs), highlighting their potential to support SMEs.   Micheil writes, “Our journey in Zambia has underscored the complexities of currency risk management and the need for tailored financial tools in emerging markets.”   Read the full blog and discover how KSI is working to support growth market entrepreneurs with innovative solutions. https://lnkd.in/gfqPt2De Sayuri Sharper Dina H. Sherif Rania Helmy

Can you really get the milk without the cow? When discussing innovation ecosystem development, we often focus on metrics such as R&D expenditures, the number of patents registered and access to venture capital. But is that truly enough for an innovative ecosystem to thrive? In his latest article, our Scholar in Residence, Shamil Ibragimov, dives into how freedom—economic, political, and civil—fuels innovation and growth in growth markets. By examining models from markets China, Singapore, and Estonia, he sheds light on the surrounding conditions that help entrepreneurs thrive. Shamil highlights, “By recognizing these interconnections and supporting civil society’s role in fostering an environment conducive to innovation, emerging economies may be better positioned to develop thriving knowledge-based sectors and participate more fully in the global innovation landscape.” Read the full article now available on our website! https://lnkd.in/gq8eJatU

The first semester of the Legatum Student Fellowship has officially concluded! Last night, our 12 remarkable fellows showcased their ventures, reflecting on their learning, growth, and evolution over the past four months and their thinking around their ventures. As the newest members of the Legatum Fellowship’s network of over 350 fellows-for-life, this cohort has demonstrated great progress in the vision and purpose behind their ventures. Some have pivoted their original ideas, others have refined and strengthened their concepts, but all have deepened their belief in the power of entrepreneurship and innovation as transformative tools for global prosperity. This semester, the fellows explored key topics such as the politics and economics of growth markets, principled leadership, values and ethics, and systems change, setting a strong foundation for their journey ahead. In the Spring, the focus shifts to the exciting and challenging work of venture building. We are immensely grateful to the inspiring guest speakers, professional advisors, and fellows-for-life who have shared their wisdom and experiences, throughout this semester. The future is bright for this group of fellows, and we can’t wait to see them again in the new year for an exciting next semester! Akorfa Dagadu Emilio Alvarez-Flores Ethan Harrison Shabari Shankar Karen Tucker Mohamed Aburawi, MD Muele Barisua Wilcox, ACCA Pablo Mejía Sanclemente Perseverance Patsika, CFA Shakul Pathak Shreeansh Agrawal Toritse David Maroh

What does it mean to not only witness but actively champion the entrepreneurial spirit across the world? In this episode of A Legacy of Purpose: Conversations with Dina H. Sherif, Christopher M. Schroeder—renowned entrepreneur, Global Venture Investor, and author of Startup Rising: The Entrepreneurial Revolution Remaking the Middle East—shares his journey from co-founding innovative tech companies in the U.S. to championing the untapped potential of growth markets like MENA, LATAM and ASEAN, Christopher’s story is one of humility, curiosity, and an unwavering belief in the power of people to solve their own communities’ most pressing challenges. During the conversation, Christopher shared: “There’s something in their teeth… there are problems out there, and not solving them does not make sense. Solving them makes sense. And maybe they’ll win, maybe they’ll lose, but they’re in.”   Whether you’re an entrepreneur, investor, or simply someone who values impactful stories, this conversation will leave you inspired.   Watch our latest episode now to hear more about Christopher’s journey of impact and purpose across the world. Available on Spotify, Apple Podcasts, and YouTube. https://lnkd.in/gT_bAVMA

It’s been a busy and exciting week at the Legatum Center!   Yesterday, we were honored to host a breakfast mixer with Viaka, bringing together startup founders, investors, and operators from the Boston area with ties to the Middle East and North Africa. This event was organized by Hani Azzam, founder of Viaka. The Center is proud to continue to welcome students, entrepreneurs, and visionaries to our office to discuss the future of innovation in global growth markets.   Later in the afternoon, our Executive Director, Dina H. Sherif, and Director of Fellowships and Global Initiatives, Dr. Haitham Khoury welcomed a delegation from Nigeria to our space. During the meeting, they explored opportunities for collaboration in innovation, entrepreneurship, and leadership development for Nigeria’s Civil Service and how innovation reform can help generate revenue through digital transformation.   A special thank you to Mrs. Didi Esther Walson-jack, OON, Head of the Civil Service of the Federation, Nigeria; Mrs. Lydia Shehu Jafiya, Permanent Secretary, Federal Ministry of Finance, Nigeria; and Dr. Gideon Adogbo, Governance Reforms Consultant, Office of the Head of the Civil Service of the Federation, Nigeria, for joining us at IHQ!   We’re thrilled to continue fostering meaningful conversations and partnerships like those we had today. Stay tuned for more updates!

As part of our weekly course for the Legatum Student Fellows, we invite community members to share valuable insights from their work and the dynamic world of entrepreneurship and innovation. This week, the Fellows had the privilege of learning from Christopher M. Schroeder, a serial entrepreneur, investor, and author of Startup Rising: The Entrepreneurial Revolution Remaking the Middle East.   During his visit, Christopher shared lessons from his 30+ years of experience, offering hope for the future of growth markets, including MENA, LATAM, and ASEAN. He emphasized the mantra “success breeds success” and gave Fellows a unique perspective on fundraising—having experienced both sides of the table as an entrepreneur and now an angel investor.   Christopher also reminded the Fellows, who are only halfway through their fellowship experience, of their position of privilege and earned merit, saying, “You’re fortunate people, but you have earned your fortune.”   Before class, Christopher sat down with our Executive Director, Dina H. Sherif, and Communications and Storytelling Specialist, Donovan Beck, to record an episode of our newly launched podcast, A Legacy of Purpose: Conversations with Dina H. Sherif. Together, they explored Christopher’s journey, the values instilled in him as the grandson of Italian immigrants, the role of curiosity and humility in his life, and his profound belief in the transformative power of entrepreneurship.   Thank you, Christopher, for spending time with our Fellows and for your continued support and impactful work across growth markets!

Entrepreneurs and large organizations often get stuck on their path to growth, but it’s hard to break through. Our new Entrepreneur-in-Residence at the Legatum Center for Development and Entrepreneurship at MIT, Andrea Kates, brings deep experience helping leaders navigate the challenges and obstacles preventing them from achieving their greatest impact. Our Fellows and community can now gain a true advantage by accessing Andrea’s proven process developed over decades with some of the world’s leading companies.   As a speaker, advisor, former Silicon Valley tech CEO, and author of the new book, From Stuck to Scale, she brings a wealth of experience leading transformative initiatives across industries such as finance, healthcare, and technology on five continents. Over the past year, Andrea has served as a professional advisor to both our Legatum Student and Foundry Fellows, offering her insight and guidance to their work throughout growth markets.    We are grateful for Andrea’s unwavering commitment to the Center and her dedication to advancing the future of entrepreneurship and innovation around the world. Please join us in warmly welcoming Andrea to the Legatum Center team and deeper community!

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.