Legatum Fellowships – Amount, Number of Awards and Criteria
Legatum Fellowships are targeted for students interested in starting a venture in an Emerging market. Since the establishment of the Fellowship, 300 MIT Fellows have benefited from it.
Apart from the financial grant, fellows are also eligible for mentorship through an Entrepreneur-in-Residence program.
The fellowship covers travel expenses to emerging markets during winter and summer breaks. The expenses cover research, building professional relations, or prototyping.
The Legatum Fellowship program officially starts at the beginning of the Fall semester and ends with the Spring semester
Award: Up to $25,000
Number of Awards: 20-25 students are awarded this fellowship each year
Eligibility: Eligibility for the Legatum Fellowship Program:
- Current students enrolled for year-long duration or Prospective students enrolled for the upcoming academic year
- Principled and innovative leaders with an aptitude for experimentation, continuous learning, and personal growth
Requirements
- One MIT Course on Entrepreneurial leadership development
- Motivation to find entrepreneurial opportunities in a developing economy post-graduation
Essay Questions
- What does it mean, to you, to be a principled entrepreneurial leader? Please provide specific examples of how you have demonstrated or pursued this vision on entrepreneurial ventures or teams that you have led. (1000 characters)
- How certain are you that you want to be an entrepreneur in emerging markets post-graduation and why? (It is okay to be on the fence.) (500 Characters)
- How passionate are you about the problem you are trying to solve with your venture? How have your experiences (educational, leadership, professional, etc.) prepared you to pursue the venture? (1000 Characters)
- Have you lived in or visited the country in which you intend to launch or scale your venture? If so, for how long and in what capacity (e.g., resident of the country, studied there, worked there, etc.)? How has this experience been relevant to your venture? (1000 Characters)
- How do you plan to use this fellowship to grow as an entrepreneurial leader and prepare you to work full-time as an emerging market entrepreneur after graduation? (1000 Characters)
Note: Students are also required to submit 3-4 professional References
Related Download: F1GMAT's MIT Sloan MBA Essay Guide
