MIT Renames Legatum Center To Kuo Sharper Center

The Massachusetts Institute of Technology (MIT) has renamed its Legatum Center for Development and Entrepreneurship to the MIT Kuo Sharper Center for Prosperity and Entrepreneurship, in a strategic move to deepen its commitment to fostering economic prosperity in growth markets such as Africa.

The transition, announced during the Innovation in Global Growth Markets: Prosperity Through Entrepreneurship Conference, is backed by a transformative gift from MIT alumni Sayuri Sharper (SB ’81, SM ’82) and Craig Sharper (SM ’80). The couple’s investment will enhance the center’s role in supporting innovation-led entrepreneurship to address real-world challenges and unlock economic agency across developing economies.

“The generous gift from Sayuri and Craig Sharper will allow MIT to extend its impact across Africa and other growth markets,” said Georgia Perakis, Interim Dean at MIT Sloan School of Management. “We are fostering a new era of entrepreneurship—where bold thinkers and visionary innovators are empowered to shape Africa’s economic future.”

Since its inception in 2007, the center has provided nearly $10.5 million in tuition support to more than 400 fellows from 67 countries. These efforts have led to the creation of 286 ventures, 75 per cent of which remain operational. African entrepreneurs have been among the most impactful alumni, with over 45 Foundry Fellows from countries such as Kenya, Nigeria, Ghana, Egypt, and South Africa advancing transformative solutions across sectors including fintech, energy, and healthcare.

The Kuo Sharper Center aims to expand research, strengthen entrepreneurial ecosystems, and shift global narratives by positioning entrepreneurs as architects of inclusive and sustainable economic growth.

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

The center will continue to grow key programs such as the MIT Student Fellowship and Foundry Fellowship, while also expanding off-campus education and startup bootcamps. It will focus on mobilizing capital, scaling ventures, and embedding entrepreneurship as a foundation for economic development across growth markets.

“This evolution is more than a name change,” said Dina H. Sherif, Executive Director of the MIT Kuo Sharper Center. “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 emerging economies.”

The announcement comes as senior African policymakers, investors, and innovation leaders gather for the center’s annual conference on April 23-24, 2025 to explore how Africa can unlock its full entrepreneurial potential and lead global innovation in the decades ahead.