Application deadline: 22 January 2015
The Legatum Center seeks entrepreneurs who aspire to have a lasting and positive economic impact on low-income countries by developing their own entrepreneurial ideas and building their own local enterprises. The Center’s approach is intensely practical. Recognizing that even the best innovations can be rendered useless if not distributed effectively, we work closely with our Fellows to design not just innovative products and services, but also workable, affordable, and sustainable business distribution methods.
The Fellowship is open to all incoming and current MIT graduate students. Students currently enrolled as sophomores or juniors at MIT may apply to become a Legatum Fellow for the upcoming class. The program includes:
- Building knowledge and skills for successful entrepreneurship in developing economies
- Domain experts and mentors to provide general guidance, encouragement, or specialized advice on an as-needed basis
- Special case studies and other curriculum highlighting aspiring and successful entrepreneurs in low-income countries
- Exposure to an extensive entrepreneurial ecosystem of investors, entrepreneurs, potential partners, and new technologies related to development and entrepreneurship
Legatum Fellows are accepted in the spring prior to the academic year of their fellowship and begin working on their business proposals in the summer months. Fellowships are awarded for one year. Legatum Fellowship alumni join a growing network of international entrepreneurs committed to bringing their business plans to fruition.
All candidates for the Legatum Fellowship are required to submit an online application and one letter of recommendation. A committee will examine all applications and finalists will be contacted to arrange an interview. Whenever possible, Fellowship finalists are interviewed in person. For those finalists based outside of the United States or unable to visit campus, interviews will be conducted by phone or Skype.
Conditions of Eligibility:
Each applicant must be:
1. An applicant for a graduate degree program at MIT or a student currently enrolled as a sophomore, junior, or graduate student at MIT
2. Enrolled as an MIT student for the duration of the Fellowship
3. Committed to pursuing a startup in a low-income country after graduating from MIT
We strongly encourage you to submit an online application, however if you are unable to access the online application for technical reasons, you may request a hard copy application. Applicants must complete and submit their applications by January 22, 2015, 11:59pm EST. When submitting online, please plan ahead for unforeseeable technical problems. Due to high traffic on our servers the day of the application deadline, we recommend that you submit your application in advance.
In order to apply for the Legatum Fellowship, applicants must submit one (1) letter of recommendation and an application consisting of the following completed sections:
• Application form
Notes on Financial Assistance:
The Legatum Center provides a scholarship award to support Fellows’ studies at MIT. The scholarship amount awarded to each new Fellow is determined by several factors, including the number of new Fellows and the pool of funding available for that academic year. In general, funds awarded have ranged from $5,000 to $50,000 for the length of the Fellowship.
As funding is limited, we encourage applicants to explore external sources of funding. For more information on financial aid at MIT, please visit the Student Financial Services website.
The Legatum Fellowship financial award can only be applied towards MIT educational expenses, such as tuition, stipend and/or medical insurance. Funds from the Legatum Center may be received to supplement, but not to duplicate, financial awards from other MIT departments or from other foundations, institutions, or organizations. The combined financial award from all sources may not exceed the maximum limitation as prescribed by MIT’s cost-of-attendance budget.