After a year of Grit & Growth podcasts, Darius Teter, our host and executive director of Stanford Seed, looks back on his conversations with intrepid entrepreneurs from Africa and India. He not only shares powerful moments but also some of the lessons he’s learned along the way about the struggles and opportunities of entrepreneurship in emerging markets. 

It’s hard to pick favorites, but some stories held special resonance and, in retrospect, revealed key themes about the long, often lonely, yet rewarding journey of entrepreneurship. No surprise, grit is one of the qualities that stood out in the entrepreneurs Teter spoke with, especially in the face of unprecedented adversity. Kwami Williams, whose company suffered from two fires, the pandemic lockdown, and personal tragedy, talked about the importance of taking one step at a time to stay resilient and recover.

Working to solve important problems is a red thread throughout many of the conversations. 

“It got me thinking that much of what we take for granted are really fundamental human rights — access to food, water, basic health care, and information,” Teter explains. “The phrase ‘purpose and profit’ may be overused, but these remarkable people are solving important problems as a business, not a charity.”

Teter points to Dr. Shuchin Bajaj, who built a network of affordable yet sophisticated hospitals across India and staffed a 1,000-bed hospital in weeks during the darkest days of the pandemic, and Samuel Appenteng, whose company brings drinking water to seven countries in Africa. Often, just doing business in some of these markets is a problem worth solving, from providing access to markets or using machine learning to providing short term financing.

From creating dignified work and highlighting the importance of mission to considering the role of governance and securing financing to scale their businesses, these entrepreneurs showed true grit and growth.

As Teter looks back and to the future of entrepreneurship in the region, he says, “What I have learned through my association with these incredible people is that the locus of innovation is rapidly shifting to these emerging markets, where a combination of necessity, untapped consumer demand, network penetration, and new technologies is leading to an explosion of business activity. And I learned that being an entrepreneur in these markets can be a lonely journey, and they value the opportunity to network and learn from each other.”

Listen to highlights and observations from our first season, tune in to the full stories of these amazing entrepreneurs, and get ready for Season Two.

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