Legatum Center for Development and Entrepreneurship at MIT

Last week, we had the privilege of hosting an engaging conversation with Abdulakhad Kuchkarov, Executive Director of IT PARK Uzbekistan, and our Scholar-in-Residence, Shamil Ibragimov. The event shed light on Uzbekistan’s impressive strides in establishing a thriving startup ecosystem, even as it navigates the influence of major regional players like China and Russia. The Key Takeaways from Abdulakhad Kuchkarov were 🔹 “Entrepreneurship transcends geopolitical restraints, bridging local expertise with global markets to drive sustainable growth.” This theme resonated as we explored how Uzbek entrepreneurs are leveraging strategic partnerships and innovation. 🔹 Uzbekistan is setting ambitious goals to be among the top 30 countries in AI integration. This journey includes building AI labs, nurturing local researchers, and fostering tech partnerships. 🔹 The government’s role should be to ignite the entrepreneurial spirit and then empower innovators to sustain momentum through their own networks and ventures.” This conversation highlighted how overcoming challenges, fostering international collaboration, and nurturing local talent are pivotal for Uzbekistan’s ambition to become a global tech and entrepreneurship hub. Watch the full fireside chat here on our YouTube Channel: https://lnkd.in/eDVvU8hr

We're excited to share a compelling analysis by Isha Doshi, co-founding partner and CFO of TLG Capital, in her latest blog on Currency Conundrums: Volatile African Exchange Rates and What Can Be Done, where she addresses the critical challenges and strategic solutions for navigating exchange rate instability across sub-Saharan Africa. Drawing from TLG Capital's extensive experience investing in African SMEs, Isha Doshi provides a detailed look at how exchange rate fluctuations—like those in Nigeria's naira and Ghana's cedi—create substantial risks for both investors and local economies. She examines the underlying factors driving Africa’s currency volatility, including trade imbalances, reliance on imported essentials, and global economic shocks. Yet Doshi also points to effective solutions, such as utilizing local currency funds, hedging strategies, and regional payment systems like the East African Payments System (EAPS), which reduce reliance on foreign currencies and lower transaction costs. This blog is part of a series that will culminate in a white paper by the Legatum Center, exploring solutions for bolstering SME economic resilience across Africa. Stay tuned for more insights as we continue to explore solutions to unlock Africa’s potential in a rapidly changing global economy. Zain Latif, Isaac Marshall ,Sayuri Sharper Read the full blog here: https://lnkd.in/eN7uNbs3

If asked, “How do you want to be remembered?”—what would you say? Recently, during our podcast “A Legacy of Purpose: Conversations with Dina H. Sherif,” our Executive Director posed this question to His Excellency President Dr. Mokgweetsi E.K Masisi, 5th President of the Republic Botswana. Reflecting on his years of service, President Masisi responded, “I’d like to be remembered for being the biggest disruptor for good.” His words remind us that purpose and values are what drive visionaries toward impactful change, even when faced with challenges. Our conversation with President Masisi reinforced our hope for the future of Botswana and Africa—a Continent filled with untapped potential and a young population, soon to transition to being consumers themselves. Disruptors for good are needed now more than ever. To explore more of President Masisi’s journey, listen to or watch “A Legacy of Purpose: Conversations with Dina H. Sherif,” available now. We’d love to hear how you want to be remembered—share your thoughts in the comments below!

Last night, the Legatum Center for Development and Entrepreneurship at MIT and a cohort of this year's Eisenhower Fellowships Fellows gathered for an inspiring fireside chat featuring the Legatum Center’s Executive Director, Dina H. Sherif, alongside Prof. Dame Fiona Murray, DCMG, CBE, Associate Dean for Innovation at the MIT Sloan School of Management, as they explored authenticity in leadership, the power of networks, and the multifaceted roles women navigate in the modern world. The key takeaways were 🔹 The Tapestry of Connections: Instead of transactional networking, Dina and Fiona emphasized the value of building a “tapestry of connections” to create communities that fuel growth, support, and genuine empowerment. “Ask yourself, ‘What are you trying to accomplish, and how can your network support that?’. 🔹 Navigating the Double Bind: In leadership, women often face a double bind—balancing competence with perceived warmth. Fiona shared, “Authenticity is key. It’s not about being more friendly; it’s about showing people the real you.” This means bringing a “blue core, pink wrapper”—toughness with authenticity.  🔹 Reclaiming Visibility: Women can harness influence by embracing their unique voices. “Few innovations come from people alone in a room,” Fiona noted, highlighting the value of diverse perspectives. Fiona also shared how wearing bright colors reinforces her ability to claim her space in often male-dominated rooms where women may otherwise feel invisible.  🔹 Redefining ‘Having It All’: “I don’t think we can have it all, all at once,” Fiona shared candidly, recognizing that the biggest trade-off women often make is their own well-being. But with organizations recognizing women as multidimensional, change is happening. This conversation left us inspired by the leadership and authenticity that women bring to every sphere they enter. Let’s continue to build communities that champion these values and celebrate the diverse journeys of women in all aspects of life and leadership. Watch the full conversation now via our YouTube: https://lnkd.in/gJWgbZ6m

We are proud to share an inspiring excerpt from a commencement speech given by our Executive Director, Dina H. Sherif, at the American International School in Egypt. Dina's words are a reminder that no matter how much we accomplish, life is an ongoing journey of growth and self-discovery. "While I’ve achieved great things in my life—titles, recognitions, founding my own company, partnering in a venture capital fund, advising the president of Egypt, going to Harvard, and working at MIT—my first piece of advice is this: the sooner you come to embrace the fact that you are, and will always be, a work in progress in a constant state of becoming, the better off you’ll be. None of us have it all figured out. And that’s a beautiful thing because it means there’s always more to learn, more to give, and more work to do in making the world a better place." This reminder to invest in relationships, walk away from what doesn’t serve us, and live with purpose is truly a call to action. Dina’s words resonate deeply with our mission at the Legatum Center as we support leaders working to leave a meaningful mark in the world. Take a listen https://lnkd.in/gZv-nCUY

Interested in the role of philanthropy in driving entrepreneurship and innovation in the GCC? Recently, our Executive Director, Dina H. Sherif, moderated an insightful panel exploring this very topic! In 2022, the GCC contributed over $210 billion in philanthropic giving—a testament to a long-standing tradition of philanthropy. Yet, as the region continues to evolve, there is growing potential for even more diverse and impactful forms of financing.   Hosted by the Legatum Center for Development and Entrepreneurship at MIT in collaboration with the Pearl Initiative at the DUBAI FUTURE FOUNDATION’s office in Emirates Towers, Dubai, this panel also marked the launch of key findings from our multi-year research on philanthropy in the GCC, which was made possible by the generous support of HRH Princess Moudi bint Khalid bin Abdulaziz Al Saud, set to be released soon.   If you missed the opportunity to join us in person, the full panel discussion is now available on our YouTube channel! Hear from thought leaders, including Fadi Ghandour (CEO, Wamda Capital), Nader AlBastaki (MP, Dubai Future District Fund), Dr. Natasha Milan Matic, Ph.D. (Executive Director, 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).

In two days, the Legatum Center for Development and Entrepreneurship at MIT will host a fireside chat on October 31, 2024, from 12:30 PM to 2:00 PM EST. We’re excited to feature Abdulakhad Kuchkarov, Executive Director of IT PARK Uzbekistan, alongside our Scholar-in-Residence, Shamil Ibragimov, as they discuss the future of innovation in Central Asia. This is a unique opportunity for those interested in emerging markets and the evolving tech landscape to gain valuable insights from a leader driving transformation in the region. Join us for what promises to be a compelling discussion! Scan the QR code to RSVP. We look forward to seeing you there!

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