The Legatum Centre for Development and Entrepreneurship at the MIT Sloan School of Management is launching a partnership with Botswana that will serve as a model for other growth markets across Africa.
This five-year programme 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 digitisation through the use of artificial intelligence, building an MIT Sandbox programme to encourage entrepreneurship within Botswana, participation in the MIT Regional Entrepreneurship Acceleration Program, and other joint activities to catalyse Botswana's economic transformation.
In a statement, MIT stated that the collaboration demonstrates the critical role that technology and innovation can play in achieving economic diversification and economic agency across the continent, with a focus on fostering innovation, increasing research and development investment, and developing a knowledge 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.
On behalf of the Botswana government, Kabelo A. Ebineng, Permanent Secretary, Ministry of Entrepreneurship, said: “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.”
Ebineng continued: “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.
“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."
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