Legatum Center for Development and Entrepreneurship at MIT

Join us next week Thursday for an insightful fireside chat hosted by The Legatum Center for Development and Entrepreneurship at MIT Center for Development & Entrepreneurship, as we delve into the future of innovation in Central Asia! Date: October 31st, 2024 Time: 12:30 - 2:00pm EST Location: 292, Main Street, Floor 4 Cambridge, MA, 02120 Abdulakhad Kuchkarov Kuchkarov, Executive Director of IT PARK Uzbekistan, alongside our very own Scholar-in-Residence, Shamil Ibragimov, will explore how Uzbekistan is spearheading a vibrant startup ecosystem amidst the economic giants of China and Russia. This conversation will also cover how Uzbekistan is overcoming challenges, attracting global talent, and fostering international partnerships to position itself as a hub for tech and entrepreneurship. If you’re interested about emerging markets, tech ecosystems, or the untapped opportunities in Central Asia, consider joining us! Scan the QR Code to RSVP for this exciting event!

Foreign dependency can be a double-edged sword for Africa’s growing tech ecosystems. While international funding drives innovation, it also exposes ecosystems to vulnerability when external forces shift. In her latest blog, Salma Baghdadi explores both the opportunities and challenges of foreign investment, emphasizing the need to build strong local foundations. She highlights how policy reforms and private sector partnerships can help Africa create resilient, self-sustaining ecosystems. With Development Finance Institutions (DFIs) providing a large portion of capital, the scale of investment is significant—but so are the risks. To address these vulnerabilities, African countries must implement strategies that promote local ownership and private sector investment. Public policy reforms that encourage domestic investment in tech startups are crucial.  Curious to learn more? Read the full blog here: https://lnkd.in/eWD4V8eR

The Legatum Center is excited to announce the participation of Rania Helmy, our Senior Advisor for Strategy and Partnerships, in the upcoming Central Eurasia Silicon Valley Conference in San Francisco on October 25th. Rania will be speaking on a panel titled "Women Shaping the Future of Tech", alongside Kanykei (Kani) Omurzakova (CALI - Central Asian Ladies Initiative), Nazira Nurbayeva (Consulate of Kazakhstan), Cora Lam (TechWomen Mentor), Nora (Nargiza) Juraboeva (Grammarly), and Christy Canida (Alchemist Accelerator) At the Legatum Center, we recognize the immense potential of Central Eurasia’s entrepreneurial ecosystem, especially in advancing tech gender equality. With 49% of startup employees being women, 34% in leadership roles, and 30% of tech companies women-owned, the region is setting a global benchmark for inclusion and empowerment in tech. We are eager to connect, learn, and share how the Center’s work supports the development of entrepreneurs and innovators in other growth markets. Rania will also highlight some of the key challenges women entrepreneurs in growth markets face today and share success stories of Legatum Fellows who have overcome these barriers to build and scale businesses addressing critical global challenges. Stay tuned for more updates from the event! To register, pls go to: https://lu.ma/cesv2024.com

Today, entrepreneurs and visionaries are not only honoring the legacy of those who came before them but are also actively defining their own every day. With that intention in mind, the Legatum Center for Development and Entrepreneurship at MIT is excited to announce the launch of its new podcast series, “A Legacy of Purpose: Conversations with Dina H. Sherif.” Hosted by our Executive Director and produced by Communications and Storytelling Specialist Donovan Beck, this series will highlight the stories of those brave enough to engage in leadership, with a focus on individuals who are working hard to see entrepreneurs thrive across global growth markets. Each episode will feature leaders who stand strong in their purpose and who are working hard to create change, now and for the future.    In our inaugural episode, listen in to a one-of-a-kind conversation between Dina and the 5th President of the Republic of Botswana, His Excellency President Dr. Mokgweetsi E.K. Masisi (Government of Botswana), a visionary public servant dedicated to leveraging innovation, technology, and strategic partnerships to shape the future of Botswana and, by extension, Africa. This discussion brings to light how purposeful leadership is reshaping Botswana and Africa’s future.    His Excellency President Masisi shares his vision for transforming Botswana into a knowledge-driven economy, highlighting the power of innovation and resilience in positioning Africa as an exporter of ideas and expertise, rather than just raw materials. He also discusses his commitment to reshaping the global narrative of Africa—from one of exploitation and hardship to one of prosperity, success, and untapped talent.   During the conversation, His Excellency President Masisi boldly asserts, “Africa is proud, beautiful, and intelligent, with incredible resources and capacity. We are clear—we want innovation, we want to dig deep, and share our best with the world.” “A Legacy of Purpose: Conversations with Dina H. Sherif” is now available on all podcast platforms and via video on the Legatum Center’s YouTube channel. We encourage you to listen, share, and let us know your takeaways below! https://lnkd.in/gVndEd7d

Today, the Legatum Center for Development and Entrepreneurship at MIT launched the key findings of its research conducted over the past few years to map and understand the role of philanthropy in entrepreneurship and innovation in the GCC. This research was conducted with the generous support of HRH Princess Moudi bint Khalid bin Abdulaziz Al Saud, and today’s event was held at the DUBAI FUTURE FOUNDATION in Dubai, UAE, in collaboration with the Pearl Initiative. Dina H. Sherif, Executive Director of the Center and Senior Advisor to the Pearl Initiative, presented key insights from the research, focusing on the UAE, KSA, and Bahrain. The presentation was followed by an inspiring line-up of panelists including Fadi Ghandour (CEO, Wamda Capital), Nader AlBastaki (MP, Dubai Future District Fund), Dr. Natasha Milan Matic, Ph.D. (ED, Global Commons Alliance Accountability Accelerator), Sabrin Rahman (Head of Sustainability, EMENA & Turkey, HSBC), Dr. Sonia Ben Jaafar (CEO, Abdulla Al Ghurair Foundation ), and Mona Ataya (Founder of Mumzworld.com & co-Founder of Bayt.com). Dina emphasized that in global growth markets, philanthropists can and should play a cross-functional role in driving innovation. “I see them as core to working across what we at MIT call the 5 stakeholders.” Mona Ataya echoed this, stating, “Philanthropists act as the bridge between industries, government, and academic institutions… It’s in that connection where we find the catalyst for innovation.” Other panelists pointed out that much work remains in transforming how philanthropy is utilized in the region. Dr. Sonia Ben Jaafar emphasized that, “We need philanthropists who approach giving with a deeper lens and a long-term outlook, not just as a checkbox exercise.” Mona Ataya stressed the importance of access to capital and said, “You can’t build any transformative business without capital. Everything else comes after.” Fadi Ghandour, Nader Albastaki, and Sabrin Rahman—who collectively share decades of experience supporting the region—agreed on the need for change but also highlighted the progress already seen. Rahman said, “We also need to recognize the soft power of philanthropy in the GCC. We are setting a legacy of how philanthropic capital can be used strategically. We’ve been doing this for years, and we’re here to stay.” Albastaki also noted the importance of new models of financing that need to continue to be introduced into the region, saying, “That is the interest here, to create more ways for philanthropists to contribute to a blended finance space so that there isn’t a dependence only on government grants.” Ghandour added, “We don’t want to over-celebrate, but there’s good reason to celebrate the growth we’ve seen over the years when it comes to entrepreneurship and innovation.” We would also like to thank Mona Atia, Sumaya Hashim & Valeria Budinich for their contributions to the study. We'll be announcing the upcoming launch of the report soon.

We are thrilled by the amount of interest in our “Role of Philanthropy in Entrepreneurship & Innovation in the GCC” event set to take place this Thursday, October 17th, 2024, from 4:30 PM - 7:00 PM GST. This event will reveal key insights from our study on the topic, which was generously supported by HRH Princess Moudi bint Khalid bin Abdulaziz Al Saud. The convening will bring together key stakeholders from the philanthropic sector and the entrepreneurship and innovation ecosystem alike to the DUBAI FUTURE FOUNDATION office based out of Emirates Towers in Dubai. This one-day event will feature a presentation highlighting key findings from the study by Dina H. Sherif, Executive Director of the Legatum Center at MIT and Senior Advisor to the Pearl Initiative. Following this, an inspiring panel discussion will take place, including: Fadi Ghandour, Founder and CEO of Wamda Capital  Nader AlBastaki, Managing Director of Dubai Future District Fund  Dr. Natasha Milan Matic, Ph.D. Director of Global Commons Alliance  Sabrin Rahman, Managing Director – Head of Sustainability (Europe, Middle East, Africa and Turkey) at HSBC  Dr. Sonia Ben Jaafar, CEO of Abdulla Al Ghurair Foundation Mona Ataya, Founder of Mumzworld.com This panel discussion will reflect on the study’s core findings and discuss how philanthropic capital can better support entrepreneurship and innovation across the GCC. Due to the high interest, we are no longer taking in-person registrations, but this event will be available via Zoom for those unable to attend in person. We invite you to RSVP via the link below and secure your online attendance! https://lnkd.in/gc6CtySQ

I was looking forward to this call for some time. It’s the beginning of the MIT Foundry Fellowship journey that happened some weeks back. The onboarding session - to be exact. Many are asking me for how it’s going, so sharing a quick recap: 💡 1/ Meeting the cohort Got a chance to meet and connect with 36 incredible entrepreneurs from across Africa — Nigeria, Egypt, Kenya, Ghana, and more. I can already sense some strong collaboration potential and the call alone has broadened my exposure. Some familiar names: Emeka Ajene , Guy Brennan , Iness Elamine , and others. 💡 2/ A retreat to Kenya “The Kenya Immersive Experience” happens in November. Starting with an Adaptive Leadership retreat at Mount Kenya (yes, you read that right) and then tour of Nairobi’s ecosystem over a few days. Interested to see how this immersive experience is like for learning. 💡 3/ Learning the REAL Framework On October 21st, we’ll be diving into the REAL framework with Professor Dame Fiona Murray and Dr. Phil Budden. This is Massachusetts Institute of Technology's approach to innovation, how to build and accelerate ecosystems, along with the importance of engaging stakeholders effectively. Can’t wait to see how this knowledge will feed into our ventures and beyond. Extremely excited for what’s ahead. I anticipate the diversity and quality of the cohort alongside the meticulously planned program to definitely enhance the experience. Big thanks again to Dina H. Sherif and the Legatum Center for Development and Entrepreneurship at MIT team for making the onboarding so smooth. It’s shaping up to be something truly impactful. Will update post the trip - but feel free to leave questions if you’re interested in how the program is like.

The world is changing. By 2050, a quarter of the population will be African. This transformation has serious implications for the role and relevance of African countries — and the continent at large — on the global stage. But it's not all roses. While there's real potential to ride this demographic wave into prosperity, the same wave can also end up being destabilizing and destructive. One thing's clear to me though: To seize any demographic dividend in the years and decades ahead, stakeholders across the continent and the global diaspora urgently need to collaborate and innovate to scale up investments in human infrastructure. To that end, I'm really excited to participate in this year's Foundry Fellowship at the Legatum Center for Development and Entrepreneurship at MIT. Over the next eight or so months, I'll be exploring and refining ideas I have around developing human infrastructure, engaging diasporas worldwide, scaling innovation ecosystems, and structuring investment vehicles for the African context. I've long held that business is the most powerful force for impact across Africa, and I look forward to learning from and alongside other Africa-focused entrepreneurs in the fellowship who share a similar vision and are working to build the #Africa of tomorrow. Many thanks to Dina H. Sherif, Jennifer Brady, and the broader Legatum Center community. Exciting times ahead! 💡 P.S. A question for you: What ideas do you have on building stronger bridges between folks in the diaspora who are interested in contributing to African prosperity and folks on the continent who are working towards it?

Last night, our Director of Fellowships and Global Initiatives, Dr. Haitham Khoury, Scholar-in-Residence Valeria Budinich, and Communications and Storytelling Specialist Donovan Beck were honored to speak with members of the MIT African Students Association’s African Learning Circle (ALC)! During the session, Dr. Khoury introduced the center’s work both on campus and abroad to a group of primarily undergraduate MIT students. He encouraged them to stay engaged with our community and events throughout the year and during their time at the institute. The presentation was followed by a Q&A session led by ALC co-chairs Jean Billa and Jimi Oso. Beck emphasized that as students, entrepreneurs, and innovators, “it is important to be good stewards of the countries and homes we come from,” highlighting how entrepreneurs from the continent are actively creating impactful solutions to some of the world’s most pressing challenges. Budinich shared examples such as M-PESA Africa and Zipline, illustrating how innovations born out of Africa have contributed to advancements in other markets around the world. Our team concluded by underscoring that the innovation and technology coming from the continent are not only solving complex challenges in Africa but also worldwide, representing the future of what is possible for African innovators and global prosperity. We want to thank the African Students Association and ALC for hosting this event and inviting our team to present. We look forward to finding more ways to support students from growth markets across MIT!

A few years ago, the Legatum Center for Development and Entrepreneurship at MIT launched a study to look at the role of Philanthropy in Entrepreneurship and Innovation in the GCC. We are finally ready to launch the key insights derived from this research. If you're in Dubai and interested to discuss how philanthropy can play a bigger role in entrepreneurship and innovation in the GCC, please join us on Oct 17th at 4:30 pm at the Dubai Future Foundation. We have an incredible line up of speakers to reflect on the results of the study and the way forward. Hope to see you there! Nasrine Shah Abushakra Ph.D. Leadership Liaison, Esol Education Hind Rasheed Shaden Khallaf Engy El Dishish Loulou Khazen Baz Dr. Christiane Mueck Walid Bakr Ahmed M. Caroline Faraj For those who won't be in town - we will be posting how you can join remote next week!