Legatum Center for Development and Entrepreneurship

Legatum Center for Development and Entrepreneurship is an academic initiative based at Massachusetts Institute of Technology that supports start-ups and social ventures from low-income countries through mentorship, funding, and curricular programs. The Center operates within the Sloan School of Management and collaborates with global institutions, alumni networks, and philanthropic organizations to accelerate ventures addressing poverty, health, and infrastructure. It was established through an endowment from a private foundation linked to Legatum Group and aligns with broader development efforts tied to international agencies.

History

The Center was created in 2007 following an endowment by Christopher Chandler connected to the Legatum Group, and launched programming at Massachusetts Institute of Technology alongside initiatives modeled on partnerships such as Skoll Foundation and Ashoka. Early activities drew on expertise from Sloan School of Management faculty and collaborations with Cambridge, Massachusetts organizations, echoing networks like Harvard University and Stanford University entrepreneurial ecosystems. Over time the Center expanded its reach into regions associated with programs by United Nations Development Programme, World Bank, and regional partners including African Union, African Development Bank, and International Finance Corporation. Its evolution mirrored global trends represented by conferences like the Clinton Global Initiative and alliances similar to Global Entrepreneurship Network.

Mission and Programs

The Center’s stated mission emphasizes accelerating entrepreneurship in low-income settings by providing capital, mentorship, and academic integration, aligning with frameworks from Sustainable Development Goals, United Nations, and policy discussions at fora such as G20 and World Economic Forum. Core programs include an accelerator modeled on practices from Y Combinator and Techstars, curricular offerings integrated into Sloan School of Management courses, and research initiatives collaborating with centers like MIT Media Lab and MIT D-Lab. Programmatic strands feature seed grants, residency fellowships, and ecosystem development similar to efforts by Acumen Fund and Bill & Melinda Gates Foundation. The Center has hosted workshops with practitioners from USAID, DFID (now Foreign, Commonwealth & Development Office), and technical partners such as Google.org, Microsoft social impact teams, and IDEO.

Fellowship and Alumni

The Fellowship supports early-stage entrepreneurs drawn from regions including sub-Saharan Africa, South Asia, and Latin America, producing alumni who have founded ventures in sectors parallel to organizations like m-Pesa, Zipline, and Grameen Bank. Fellows receive mentorship from networks including executives affiliated with Khan Academy, Boston Consulting Group, and investors from Sequoia Capital and Accel Partners. Alumni engagement features partnerships with incubators such as MassChallenge, Startupbootcamp, and regional accelerators like iHub (Nairobi) and Co-Creation Hub (Lagos), and participation in global competitions like Hult Prize and MIT $100K Entrepreneurship Competition. The alumni community collaborates with implementers including Clinton Health Access Initiative and PATH on scaling interventions.

Partnerships and Funding

Funding sources have included endowments from Legatum Group, grants linked to philanthropic entities such as Rockefeller Foundation, Ford Foundation, and collaborations with multilateral donors including World Bank Group and International Monetary Fund units. Institutional partnerships connect the Center to academic collaborators like Harvard Kennedy School, University of Cambridge, and practitioner networks including Acumen Fund, Ashoka, and Skoll Centre for Social Entrepreneurship. Strategic corporate partners have included technology firms like Google, Microsoft, and Cisco Systems, as well as financial institutions resembling Goldman Sachs and JP Morgan. The Center has co-funded projects with development financiers such as USAID, Bill & Melinda Gates Foundation, and regional development banks.

Impact and Evaluation

The Center reports metrics on venture survival, revenue growth, and job creation, seeking evidence comparable to evaluations by Randomized controlled trial practitioners affiliated with J-PAL and impact measurement frameworks promoted by GIIN and Social Impact Bond pilots. External assessments have drawn on methodologies used by World Bank evaluations and think tanks such as Brookings Institution and Center for Global Development. Impact narratives highlight alumni ventures addressing health, agriculture, and energy alongside case studies comparable to d.light and KickStart International, while independent analyses reference outcome indicators used by United Nations Development Programme and OECD development metrics. The Center continues to refine monitoring with academic research partnerships across MIT labs and external evaluators linked to Harvard Kennedy School.

Category:Massachusetts Institute of Technology Category:Development organizations