Stanford Institute for Innovation in Developing Economies, known as Stanford Seed, today named Darius Teter as the new executive director of the institute. Stanford Seed is led by the Stanford Graduate School of Business (GSB) and receives university-wide support.
It is designed to promote greater economic prosperity through leadership and innovation training in Africa and India. In this role, Teter will lead Seed’s growth and expansion, building upon the success it has achieved since its inception in 2011.
Teter previously served as vice-president of global programmes at Oxfam America, where he oversaw the humanitarian emergency response team and regional development programmes in Asia, Africa and Latin America, as well as research, learning and evaluation. His experience spans the field of international development, from responding to humanitarian emergencies to financing public infrastructure mega-projects, including leadership positions with the Asian Development Bank and the Millennium Challenge Corporation, an independent US government foreign aid agency.
Expansion into India
“Within just a few years, Stanford Seed created a lasting impact in West and East Africa, and the future is looking bright as we now expand to India,” Teter said. “I’m thrilled and humbled to join this dynamic institute as we equip some of the most promising business leaders in emerging markets with the tools to scale their businesses and, in turn, drive sustainable regional prosperity in their part of the world.”
After Seed’s founding in 2011, the first Seed Transformation Programme launched in Accra, Ghana, in 2013 and expanded to Nairobi, Kenya, in 2016. Since then, the Seed Transformation Programme has trained and mentored 565 entrepreneurs and senior staff members, leading to increased revenue and new job creation throughout the region. In addition, participating companies have raised almost $11 million in funding and 79 per cent have grown their customer base.
In May 2017, Seed announced its expansion into India through its new location in Chennai, which will serve entrepreneurs from across the country. The first annual programme will run from August 2017 to August 2018 and will be held at the state-of-the-art Infosys corporate campus.