A focus on technology and innovation will play a crucial role in achieving economic diversification and agency in the country and across the African continent.
Cambridge, MA, Jan. 23, 2025 (GLOBE NEWSWIRE) — The Legatum Center for Development and Entrepreneurship at the MIT Sloan School of Management is launching a collaboration with the Government of the Republic of Botswana that will serve as a model for other growth markets across Africa and beyond.
This five-year program will include establishing a fellowship for African innovation-driven entrepreneurs and students in the model of the Legatum Center’s fellowships, accelerating the country’s digitization through the use of artificial intelligence, building an MIT Sandbox program to encourage entrepreneurship within Botswana, participation in the MIT REAP (Regional Entrepreneurship Acceleration Program), and other joint activities to catalyze Botswana’s economic transformation.
The collaboration demonstrates the crucial role that technology and innovation can play in achieving economic diversification and economic agency across the continent, with a focus on fostering innovation, increasing investment in research and development (R&D), and building a knowledge-based economy.
“This collaboration with Botswana represents an opportunity not just for Botswana, but for Africa as a whole,” said Dina H. Sherif, Executive Director of the Legatum Center at MIT. “Together, we aim to unlock potential by fostering a culture of innovation and entrepreneurship that will aid in transitioning the nation from reliance on natural mineral resources to a knowledge-based economy, with the power to transform lives and drive economic growth.”
The Legatum Center at MIT drives initiatives that aim to advance sustainable and inclusive prosperity in global growth markets, through the power of entrepreneurship and innovation. To date, the Legatum Center has supported over 326 Student Fellows from 57 countries who have created 286 ventures, 75% of which are active today. These ventures have created over 17,000 direct jobs and served over 17 million customers in over 170 countries. They have also engaged with over 36 Foundry Fellows from Botswana, Nigeria, Egypt, Ghana, Gabon, Kenya, Morocco, Senegal, Ethiopia, Rwanda, South Africa, and Zambia. This concrete global impact is a defining feature of the Legatum Center.
In April 2024, a delegation from the Republic of Botswana visited MIT to sign a Memorandum of Understanding with MIT Sloan and discuss the broader vision of integrating innovation and technology into Botswana’s economic landscape, leading to a commitment to collaboration. “As Botswana forges ahead with its aspirations of being a high-income country on the back of innovation-driven enterprise, we are delighted to collaborate with MIT Sloan in equipping and facilitating the required transformation effort,” said Mr. Kabelo A. Ebineng, Permanent Secretary, Ministry of Entrepreneurship for Botswana.
“The Government of Botswana seeks to develop its national economy through continuous innovation and enhanced value chains that not only allow for regional integration, but accentuate global competitiveness,” Ebineng continued. “This requires a robust ecosystem to which MIT brings various forms of expertise and experience. We are happy to trail-blaze together for the benefit of Botswana — and the wider African continent — in pursuing sustainable development goals and prosperity.”
Attachment
CONTACT: Matthew Aliberti MIT Sloan School of Management 781.558.3436 malib@mit.edu
