Applications are now open for the 2024 Legatum Center at MIT Foundry Fellowship. Click here to learn more about this fellowship and how to apply for it.
About The Legatum Center at MIT Foundry Fellowship 2024
Opportunity Details
The Foundry Fellowship embodies this belief through its creation of a community of Africa-based entrepreneurs who share a vision for a continent where people, ideas, and resources move across borders, and where ecosystems enable innovation-driven entrepreneurs to thrive and scale. This community plays a critical role in shifting the narrative of Africa to one of abundance, opportunity, innovation, and dynamism.
The Foundry Fellowship is an eight-month, transformative experience for accomplished entrepreneurs who are committed to leading the acceleration and interconnection of Africa’s innovation and entrepreneurship ecosystems. The fellowship is designed for principled leaders who seek to catalyze systems transformation and inclusive growth across Africa.
Benefits of The Legatum Center at MIT Foundry Fellowship 2024
- The fellowship will provide partial financial support to these entrepreneurs during the program.
The Legatum Center at MIT Foundry Fellowship 2024 Requirements
The fellowship is open to Africa-based entrepreneurs who have: 1) founded and scaled a for-profit, innovation-driven company, AND 2) who are now at an inflection point and are preparing to transition into leadership in one of the following ways:
- By transitioning from running your innovation-driven enterprise to taking on a new leadership role within the ecosystem; for example, you may be launching a venture capital fund, starting an accelerator, or pursuing a path in policymaking;
- By founding a venture or support organization that will specifically help build innovation and entrepreneurial ecosystems across Africa; or
- By expanding your innovation-driven enterprise across the continent, and through that expansion, focus on ecosystem development to reach your growth goals.
Founders from the same company may apply, but each founder must complete a unique application. Each founder will be considered independent of a co-founder.
MIT alumni and current degree candidates are welcome to apply.
FELLOWSHIP REQUIREMENTS
Applicants should be aware of the considerable commitment that the Foundry Fellowship requires, in both time and attention.
As a Foundry Fellow, your commitment to your personal objectives, your cohort, and the next generation of innovation-driven entrepreneurs across Africa is essential to your success. The Center asks that you seriously consider the following program requirements before applying:
- Confirming your English language ability: The Foundry Fellowship programming is delivered in English; all fellows should feel comfortable communicating complex ideas in writing, and verbally, in English.
- Attending all Foundry Fellowship online sessions and in-person meetings: See the section below on key dates for a picture of the total time commitment. Typically, the fellowship program includes four ecosystem tours, each lasting between five and seven days. In the spring we combine two tours, bringing the total time away from work and home to about two weeks.
- Providing your own transportation to and from ecosystem tour locations and covering some of your travel expenses. Note that the fellowship program covers most costs associated with ecosystem tours, including hotels, group meals, group transport, etc.; however, fellows are responsible for their own flights to and from ecosystem tours as well as certain travel-related expenses.
- Participating fully in all sessions by giving your full attention to the participants and discussion.
- Presenting the next steps you will take after completing the Foundry Fellowship program to your peers and other supporters of the fellowship.
APPLICATION DETAILS
The application includes:
- Personal demographic information and contact information;
- Details about your role as a founder and your company;
- Essay questions on your interest in the Fellowship program, questions about your role as an ecosystem builder, and what entrepreneurial leadership means to you;
- A resume outlining your educational background, professional experience, leadership positions held, and community engagement;
- A 2-minute video (in English), summarizing the key points of your application, and;
- Two letters of recommendation from people who know you as co-founder, mentor, board member, or senior manager in your company (note: you are responsible for giving recommenders sufficient time to complete the recommendation letters before the application deadline).
Applications will be reviewed by an evaluation committee. Finalists will be invited to participate in at least one panel interview.
Application Date and Process
- Complete the online application here.
- Record and upload your 2-min video.
- Sign the application.
- Ensure that your two letters of recommendation have been submitted before the application deadline of June 30, 2024.
Applicants may apply here. The submission deadline is June 30, 2024 at 11:59 PM ET.
Questions may be directed to [email protected].
NOMINATIONS
If you know an Africa-based entrepreneur who is a great fit for the Foundry Fellowship, please nominate them through our form. We will reach out and invite them to complete an application.
Nominations will be accepted here through June 17, 2024. Nominees will be invited to complete an application. A nomination is not required to apply.
Application Deadline
30 June, 2024
Scholarship Application Portal
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The Legatum Center at MIT Foundry Fellowship 2024
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