MIT Legatum Fellowship program 2019 for aspiring entrepreneurs

MIT Legatum Fellowship program 2019 for aspiring entrepreneursApply now for the 2019 MIT Legatum Fellowship program.The Legatum Fellowship is a competitive program designed to help aspiring entrepreneurs gain a world class education at MIT, as well as extensive mentor and community support, in order maximize their likelihood of success as principled, impactful leaders in emerging markets.

This Fellowship is intensely action-oriented and suits the student who is fully committed to becoming a principled leader and improving the lives of others through entrepreneurship.

Application Deadline: March 1st, 2019

Eligibility criteria

In order to be eligible for the Fellowship, applicants must either be:

  • A current MIT Student who will still be enrolled for the year-long duration of the fellowship

OR

  • Admitted to begin a (full-time) degree program at MIT in the fall semester of the coming academic year

THE APPLICANT 

they are looking for principled, innovative leaders who have a track record for driving change and can demonstrate a commitment to improving lives in the developing world.

The ideal candidate will bring a deep level of know-how to his or her venture (whether related to a technical field, geographic area and/or industry sector) and thus have a competitive edge to lead their venture to success.

They are looking for self-motivated visionaries who are also dedicated to experimenting, learning, and growing in order to maximize their entrepreneurial success and impact over the course of their career.

VENTURE CRITERIA 

They evaluate ventures based on three key criteria:

  • Stage
  • Impact
  • Innovation

Financial Support

Each Fellow receives funding that can be used to support their school tuition and stipend. Students in their graduating year can access up to $50,000 for tuition; other students can access up to $25,000 with the opportunity for follow on funding in subsequent years. Fellows also receive grants to support travel to emerging markets during the summer and winter breaks in order to build professional relationships, conduct primary market research, test prototypes, or run pilot studies.

EXPECTATIONS

Legatum Fellows are expected to be fully engaged participants in the Legatum Center community. Expectations include:

  • Completion of a for-credit management seminar that focuses specifically on the challenges and opportunities for entrepreneurs in the developing world
  • Completion of one additional MIT course related to entrepreneurial leadership development
  • At least one trip to the intended country of implementation to either conduct primary market research, test a prototype, or pilot the business model
  • Participation in peer-to-peer training sessions
  • Demonstrated willingness to learn and adapt the venture as necessary
  • Participation in pitch events at the end of each semester
  • Regular check-in meetings with the Legatum Center staff
  • Participation in MIT’s entrepreneurial ecosystem through student-organized clubs and conferences
  • Commitment to being an entrepreneurial leader in a developing country post-graduation

Application process

Applicants must complete all required fields in the online application form.

  • The online application form will also require you to submit the following:
    • References: Please provide the names and contact information for 3-4 professional references. They should be able to speak to your potential as a principled entrepreneurial leader and/or your commitment to impacting change in the developing world. Legatum staff will only contact references if you are invited for an interview.
    • Resume/CV: We ask that you provide the most up-to-date version of your resume or CV (1 page max).
  • Applications will be reviewed by Legatum staff, as well as a committee of MIT faculty and industry experts. Evaluations will be based on the eligibility, applicant, and venture qualifications described above.
  • Applicants who make it to the final round will be called for an interview.
  • Interviews are by invitation only. 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.

If you have any questions regarding the Fellowship, please email legatum-fellowship@mit.edu.

For more information,please visit http://legatum.mit.edu/resources/legatum-fellowships/

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