The Massachusetts Institute of Technology (MIT) proudly announces the renaming of the Legatum Center for Development and Entrepreneurship into the MIT Kuo Sharper Center for Prosperity and Entrepreneurship, signifying a renewed commitment to accelerating economic prosperity through innovation-led entrepreneurship in growth markets—including Africa. This transition is made possible through a generous gift from Sayuri Sharper (SB '81, SM '82) and Craig Sharper (SM '80), whose passion for entrepreneurship and global prosperity aligns with MIT's commitment to fostering transformative change.

Unveiled during the Innovation in Global Growth Markets: Prosperity Through Entrepreneurship Conference, this landmark shift underscores the center's vision: positioning entrepreneurship as a driver of economic agency and a bridge to growth market's (including Africa) full participation in the global knowledge economy. By strengthening innovation ecosystems, the Center aims to equip entrepreneurs with the tools needed to scale solutions that address real-world challenges while ensuring these dynamic regions emerge as global hubs for technological advancement.

"The generous gift from Sayuri and Craig Sharper will allow MIT to extend its impact across Africa and other growth markets," said Georgia Perakis, John C Head III Dean (Interim) at the MIT Sloan School of Management. "Through this support, we are fostering a new era of entrepreneurship—where bold thinkers and visionary innovators are empowered to shape Africa's economic future."

Africa's Entrepreneurs at the Forefront of Transformation

Since its inception in 2007, the center has provided nearly $10.5 million USD in tuition support to over 400 fellows from 67 countries, catalyzing groundbreaking solutions across fintech, healthcare, deep tech, and sustainable energy. African entrepreneurs have been among the most impactful beneficiaries of the center's programs.

To date, the center has nurtured 344 student fellows from across growth markets globally, resulting in 286 ventures—75% of which remain active today. Additionally, more than 45 Foundry Fellows from Botswana, Nigeria, Egypt, Ghana, Gabon, Kenya, Morocco, Senegal, Ethiopia, Rwanda, South Africa, and Zambia have engaged with the center, spearheading change across key industries. Their entrepreneurial contributions are redefining Africa's economic landscape and reinforcing the continent's standing as a powerhouse of innovation and opportunity.

With the unwavering support of the Kuo Sharper family, the center is committed to scaling its efforts—expanding research, fortifying entrepreneurial networks, and shifting global narratives about growth markets including Africa. The vision is clear: entrepreneurs are not merely participants in the global economy but architects of its transformation, pioneering solutions that drive inclusive growth, sustainability, and competitiveness.

"Entrepreneurship is about resilience, ingenuity, and the ability to shape the future," said Sayuri Sharper, CEO of Kuo Sharper Initiative and President of KSF Impact. "At MIT, we have the privilege to support bold African entrepreneurs who are turning challenges into opportunities and leading the continent toward lasting prosperity."

Advancing Entrepreneurship and Innovation Across the Continent

Under its new name, the MIT Kuo Sharper Center for Prosperity and Entrepreneurship will continue to expand its flagship programs—including the MIT Student Fellowship, Foundry Fellowship, in addition to off campus educational initiatives and bootcamp programs, while forging collaborative partnerships to mobilize capital, scale ventures, and embed entrepreneurship as a foundation for sustainable development.

"This evolution is more than a name change; it represents a bold step toward building a new calculus for global prosperity—one that centers the ingenuity, resilience, and leadership of entrepreneurs in Africa and other growth markets," said Dina H. Sherif, Executive Director of the MIT Kuo Sharper Center for Prosperity and Entrepreneurship. "We are moving beyond outdated narratives of dependency to a future where African entrepreneurs are recognized as architects of global innovation and essential contributors to solving the world's most pressing challenges."

With senior African policymakers, investors, and visionary business leaders convening for the center's annual conference on April 23-24, 2025, the conversation continues: how can Africa unlock its full entrepreneurial potential and cement its role in shaping the future of global innovation?

For more information on the MIT Kuo Sharper Center for Prosperity and Entrepreneurship, please visit the center's official website here. To register for the ongoing conference and access the live stream, visit the event platform.