The Legatum Center at MIT Foundry Fellowship 2024 for Young African Entrepreneurs.

May 22, 2024

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Bursary Description

Application Deadline: June 30, 2024

Applications are now open for the 2024 Legatum Center at MIT Foundry Fellowship. 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.

ELIGIBILITY

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:    

  1. 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;   
  2. By founding a venture or support organization that will specifically help build innovation and entrepreneurial ecosystems across Africa; or 
  3. By expanding your innovation-driven enterprise across the continent, and through that expansion, focus on ecosystem development to reach your growth goals.  

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).  
     

KEY DATES

  • May 17: Application period opens.  
  • June 30: Application period closes.  
  • July-August: Interviews with Legatum Center staff, community, and Foundry Fellow alumni.  
  • September: Acceptance letters sent; commitments made.  
  • October: Orientation (virtual).  
  • November: Africa ecosystem tour (location TBD; approximately one week of travel).  
  • January/February: Africa ecosystem tour (location TBD; approximately one week of travel).  
  • April/May: US ecosystem tours (first location TBD; second location will be Boston/Cambridge; approximately two weeks of travel) and fellowship celebration event. 

For More Information:

Visit the Official Webpage of the Legatum Center at MIT Foundry Fellowship