The answer, I think, is yes. Legatum just formally launched its program yesterday, but in reviewing their materials and speaking with their Managing Director, I am more than cautiously optimistic that Legatum is going to make a significant impact in the base of the pyramid space.
Why am I optimistic? First of all, look no further than yesterday's event. It featured the largest-ever public gathering of Nobel laureates in Economics:
Their panel was moderated by Iqbal Quadir, the Founder and Director of the Legatum Center. Qadir is well-known in the base of the pyramid community as the founder of GrameenPhone, the revolutionary social enterprise that has brought economic self sufficiency - not to mention connectivity - to tens of thousands of villages in South Asia, Latin America and Africa.
Of course, one panel does not a program make. The Legatum Center is using its endowment to support 12 Fellows from around the world as they study and develop enterprise-based solutions to poverty in low-income countries. The first class of Fellows is nothing short of impressive - check out the interactive map on Legatum's site for details.
The kickoff event is over; the Nobel laureates and other speakers have gone home. But Quadir, Managing Director Michael Maltese, the Center's staff and visiting scholars - including BoP guru Jesse More, formerly of CARE Enterprise Partners - are just getting started. With $50 million from Legatum to fund their work, I'm confident that this is an auspicious beginning.
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