Applications have opened for the Fully Funded Fellowships at MIT 2020. The deadline for the fellowship is 2nd March 2020. The name of the fellowship is the Massachusetts Institute of Technology(MIT) Legatum Center Fellowship Program 2020-21 for aspiring Entrepreneurs.

• The Legatum Fellowship is a competitive program designed to help aspiring entrepreneurs gain a world-class education at MIT, as well as an extensive mentor and community support, in order to maximize their likelihood of success as principled, impactful leaders in emerging markets.
• Additionally, each year it builds a cohort of 20-25 students dedicated to building and scaling ventures in the developing world and provides them with tuition, travel, and prototyping support, as well as access to mentors, special seminars, and other cross-campus resources.

Elements of the Program

• Curriculum: Through the customized educational experience, students develop practical skills for navigating complex business environments.
• Mentorship: Additionally, there is an Entrepreneur-in-Residence dedicated to helping the Fellows navigate their entrepreneurial journey at MIT.
• Community: Also, MIT has a rich entrepreneurial ecosystem comprised of faculty, investors, potential partners, new technologies, and both aspiring and experienced entrepreneurs.

Eligibility

The candidates should meet the following requirements for the Fully Funded Fellowships at MIT

• They must be a current MIT Student who will study for the year-long duration of the fellowship
  OR
• They should enroll to begin a (full-time) degree program at MIT in the fall semester of the coming academic year
• Also, they should complete 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
• Additionally, the applicants should have at least one trip to the intended country of implementation to either conduct primary market research, test a prototype, or pilot the business model
• Also, they should show participation in peer-to-peer training sessions
• Similarly, they should demonstrate a willingness to learn and adapt the venture as necessary
• Also, the candidates should showcase participation in pitch events at the end of each semester
• Regular check-in meetings with the Legatum Center staff
• Likewise, they should be a part of MIT’s entrepreneurial ecosystem through student-organized clubs and conferences
• Furthermore, they should make a commitment to being an entrepreneurial leader in a developing country post-graduation

Benefits

• Each Fellow gets the funding that can be used to support their school tuition and stipend.
• Also, 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.
• Furthermore, 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.

For more details, visit the official website.