2015-16 Legatum Fellowship at Massachusetts Institute of Technology (MIT) now open!
Deadline: January 22, 2015
The 2015 Legatum Fellowship Application is now open. The Legatum Center administers a fellowship program for incoming and current MIT students, across all academic and professional disciplines, who demonstrate the potential to create innovative, sustainable, for-profit enterprises that promote prosperity in low-income countries. Legatum Fellows benefit from a scholarship award and a program that prepare them for successful careers as entrepreneurs. Students who are committed to implementing business plans upon graduation are encouraged to apply.
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
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.
The Legatum Fellowship financial award can only be applied towards MIT educational expenses, such as tuition, stipend and/or medical insurance.
Each applicant must be:
- An applicant for a graduate degree program at MIT or a student currently enrolled as a sophomore, junior, or graduate student at MIT
- Enrolled as an MIT student for the duration of the Fellowship
- Committed to pursuing a startup in a low-income country after graduating from MIT
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
For graduate applicants to an MIT degree program
There is a two-step process that can be completed concurrently or one at a time. Please keep in mind the respective application deadlines for the Legatum Fellowship and MIT degree programs:
- Apply for the Legatum Fellowship
- Apply for admission to a graduate degree program at MIT (MBA, SM, PhD, etc.). Deadlines for application to MIT vary by department, See Application Deadlines.
Please note that only those who are admitted by a graduate degree-granting program at MIT can be awarded the Legatum Fellowship.
For more information and to apply, visit Legatum Fellowship at MIT.