Description

The development of the Global South in the 21st century will look nothing like what 20th century models based on foreign aid and multilateral agencies envisioned. Instead real development will stem from two things—technology innovation and local entrepreneurship. The trickle of financial support for these new approaches at present will rapidly expand as the 20th century models of aid are abandoned. What are the cutting edge examples of this trend, and what will propel them forward?

Murray Metcalfe is Professor, Globalization in the Faculty of Applied Science and Engineering at the University of Toronto. He holds a B.A.Sc. In Industrial Engineering from U of T and a M.S. and Ph.D. in Engineering-Economic Systems from Stanford University. He began his professional career at McKinsey & Company, the management consulting firm, and then spent over 20 years in the venture capital industry in the U.S. until returning to academia in 2008. In the spring of 2008 he was a Visiting Scholar in the Department of International Development Engineering at the Tokyo Institute of Technology. He is a faculty member in the Centre for Global Engineering at U of T. Dr. Metcalfe also serves as a senior advisor in the private equity area at Lee Munder Capital Group, an investment management firm in Boston. Additionally he is involved in a number of not-for-profits in the areas of international development and social entrepreneurship.