Deadline for Applications: July 7, 2023 | Foundry Fellowship 2023 for Young African Entrepreneurs, The Legatum Center at MIT
The Massachusetts Institute of Technology’s (MIT) Legatum Center for Development and Entrepreneurship was established with the conviction that market-driven solutions from entrepreneurs are essential to creating sustainable development in all of the world’s emerging economies.
This conviction is embodied by The Foundry Fellowship, which has built a network of African entrepreneurs that share a vision for a continent where people, ideas, and resources may flow freely and where ecosystems support the growth and scaling of innovation-driven businesses. This network is essential in transforming the stereotype of Africa and portraying it as a continent of richness, opportunity, innovation, and vitality.
| Title: | Foundry Fellowship 2023 for Young African Entrepreneurs, The Legatum Center at MIT |
| Nationality: | African Founders |
| Amount: | |
| Deadline: | 7th of July, 2023 |
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| YOAÂ WhatsApp Link: | Click Here |
| YOAÂ Telegram Link: | Click Here |
For seasoned businesspeople who are dedicated to driving the acceleration and connectivity of Africa’s innovation and entrepreneurship ecosystems, the Foundry Fellowship is a six-month, transformative experience.
The fellowship is intended for business leaders who want to spur inclusive growth and systemic change throughout Africa. The following factors influence applicants’ decisions to apply for the fellowship: They are at a turning point in their leadership careers, they have had success scaling an innovation-driven business, and they want to find methods to promote the expansion and evolution of the entrepreneurship and innovation ecosystems throughout Africa.
Each year, 10 fellows are accepted into the fellowship’s cohort, which is based on a cohort-based model. The supporting environment provided by going through the fellowship as a cohort enables fellows to define the next phase of their entrepreneurial and leadership journeys by moving past present inflection points. Each cohort has a small number of fellows, and this combined with the focus on a selective profile and the special curriculum curation creates a learning environment that is extremely supportive of profound development.
ELIGIBILITY
- The fellowship is available to founders living in Africa who have both: 1) started and grown a for-profit, innovation-driven business; AND 2) are currently at a turning point and are getting ready to advance into leadership in one of the following ways:
- By shifting from managing your innovation-driven business to assuming a new leadership position within the ecosystem, such as founding a venture capital fund, an accelerator, or going down the route of policymaking;
- by establishing a business or assistance group that will especially assist in fostering innovation and entrepreneurial ecosystems throughout Africa;
- By spreading your innovation-driven business across the continent, and by focusing on ecosystem development through this expansion, you may achieve your growth objectives.
FAMILY REQUIREMENTS
The following prerequisites for the fellowship should be understood by applicants:
Your success as a Foundry Fellow depends on your dedication to your own goals, your cohort, and the upcoming generation of innovation-driven entrepreneurs in Africa. The Legatum Center solicits your dedication to:
- The Foundry Fellowship programming is taught in English; as such, all fellows should feel confident expressing complicated concepts vocally and in writing in English.
- attending all in-person and online Foundry Fellowship meetings. However, fellows are responsible for their own flights to and from ecosystem tours as well as some other travel-related charges. It should be noted that the fellowship covers the majority of costs associated with ecosystem tours, including lodging, group meals, group transportation, etc.
- taking part in all sessions with the intention of paying close attention to the conversation and subject.
- describing what you’ll do after the six-month immersion is over and you’ve finished the Foundry Fellowship program.
APPLICATION INFORMATION
The application consists of:
- Personal contact details and demographic data;
- information about your founding position and your business;
- essay prompts on your interest in the Fellowship program, your role in fostering an ecosystem, and your definition of entrepreneurial leadership;
- a CV describing your training, work history, positions of leadership, and involvement in the community;
- a two-minute (in English) video outlining the main aspects of your application;
- Two letters of reference from individuals who have experience working with you as a co-founder, mentor, board member, or senior manager in your business (please note that it is your responsibility to allow recommenders enough time to write the letters before the application deadline).
- An evaluation committee will review the applications. At least one panel interview will be held with the finalists.
Timeline
- Application period begins on May 26.
- The application process expires on July 7.
- Interviews with Legatum Center employees, local residents, and former Foundry Fellows in August.
- Sending of acceptance letters and commitments occur in September.
- Virtual orientation in October.
- November: Ecosystem tour of Africa (destination to be determined; estimated travel time: one week).
- February: Ecosystem tour of Africa (destination to be determined; estimated travel time: one week).
- April/May: US ecological tours (first place to be determined; second location to be determined; travel time of about two weeks); fellowship celebration event.
For Additional Information
Visit the Legatum Center’s official website at MIT Foundry Fellowship 2023.
| Title: | MIT Foundry Fellowship 2023 for Young African Entrepreneurs |
| Nationality: | African Founders |
| Amount: |  |
| Deadline: | 7th of July, 2023 |
|  |  |
| YOAÂ WhatsApp Link: | Click Here |
| YOAÂ Telegram Link: | Click Here |
