$100 million commitment

Application Deadline: March 1st 2017

Open: To startups and Entrepreneurs from all the 54 African Countries – For Africans based in Africans
Worth: $100M for 10,000 Startups/Entrepreneurs

The Tony Elumelu Foundation (TEF), is now accepting applications for the 2017 Tony Elumelu Entrepreneurship Programme (TEEP) ($100m Pan-African entrepreneurship initiative ) for for Young African Entrepreneurs with business ideas that can transform Africa.

Successful applicants will join the third cycle of the TEF Entrepreneurship Programme, TEF’s 10-year, $100 million commitment to train, mentor and fund 10,000 African entrepreneurs in every African country. Since inception in 2015, the Programme has assisted nearly 2,000 entrepreneurs and created hundreds of jobs across the continent.

Eligibility Requirements:

To be eligible:

Business must be based in Africa
Business must be for profit
Business must be 0-3 years’ old
Applicants must be at least 18 and a legal resident or citizen of an African country

Benefits

The Programme provides critical tools for entrepreneurial success, including:

Training:12 weeks of intensive training on setting-up and managing businesses
Mentoring:A mentor will guide successful applicants in creating a robust business plan
Seed Capital:$5,000 in non-returnable seed capital and access to a $5,000 convertible loan

Funding:

All entrepreneurs who successfully complete the 12-week Start-up Enterprise Toolkit (learning) programme, submit a business plan for review, as well as required documentation and a business bank account will qualify for the first stage non-refundable seed capital of $5,000.

Funding Options:

All start-ups who successfully complete the programme will be eligible for funding. There are two stages of funding available to start-ups:

First stage seed capital funding of $5,000 – a non-returnable investment dispersed at the 12-week start-up enterprise toolkit (learning) programme, upon submission and review of a business plan. Please see Terms and Conditions for clarification.
Second stage capital ‘investment’ of $5,000 – for qualifying startups that have progressed their business plans sufficiently. This is structured as a convertible loan.

Judging Criteria:

All applications will be judged on 5 core criteria, which are:

Feasibility of the business idea.
Market Opportunity: knowledge and understanding of the market, customers and competitors for their idea/business.
Financial Understanding: understanding of the basic financial requirements of running a business, costs and revenues.
Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
Leadership Potential and Entrepreneurial Skills: Demonstrate leadership potential, capable of attracting people, customers and resources.

1,000 entrepreneurs will be selected based on the viability of their idea, including: market opportunity; financial understanding; scalability; and leadership and entrepreneurial skills demonstrated in the application.

Apply Now for the 2017 Tony Elumelu Entrepreneurship Programme (TEEP)

For More Information:

Visit the Official Webpage of the Tony Elumelu Entrepreneurship Programme (TEEP) 2017

2^ND ANNUAL TEF ENTERPRENEURSHIP FORUM OPENS IN LAGOS, NIGERIA
NEARLY 1,000 AFRICAN ENTREPRENEURS FROM 54 COUNTRIES ATTENDING

The Tony Elumelu Foundation (TEF) opened the 2^nd TEF Entrepreneurship Forum – the largest gathering of African entrepreneurs and the highlight of the annual TEF Entrepreneurship Programme.

The Forum celebrates the 2016 cohort of Elumelu Entrepreneurs – selected from over 45,000 applicants in 54 African countries – and their completion of the Programme’s innovative 12-week online training. On completing the programme Elumelu Entrepreneurs become members of the largest entrepreneurial alumni network in Africa.

teep-forum

“The TEF Forum is the centrepiece of the TEF Entrepreneurship Programme, and through it, we are giving from the perspective of empowering the recipient, instead of making them dependent on us,” explained Tony O. Elumelu, CON. “As a result, our entrepreneurs will change the face of Africa, creating a wave of dynamic African businesses, bringing wealth to their communities and countries, and driving economic growth across the whole continent.”

tef-entrepreneurship-forum-2016

As part of the TEF Entrepreneurship Programme’s 10-year, $100 million commitment, participants are now eligible to receive up to $10,000 seed capital to implement their business plans. Elumelu Entrepreneurs represent sectors as diverse as agriculture and fashion. Thirty-six per cent of those chosen were women, a significant increase on the first year’s twenty-four per cent. Entrepreneurs range from 18 to 54 years old.

TEF CEO Parminder Vir OBE said:

“We are proud to have established a unique platform for African entrepreneurs to forge relationships and business partnerships. In doing so, we are creating an ecosystem that fosters innovation and collaboration, on a scale few believed possible.”

The Forum allows entrepreneurs to share and gain knowledge, build cross border partnerships, and connect with investors and policymakers. The first day features plenary panels, masterclasses, TED-style talks and sector specific networking opportunities. The second day is a policy-led gathering, focused on improving the enabling environment.

tony-elumelu-foundation-entrepreneurship-forum-2016

The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.

For More Information:

Visit the Official Webpage of the TEF Entrepreneurship Programme 2016

Tony Elumelu Entrepreneurship Programme (TEEP) 2017 for Young African Entrepreneurs ($USD 10,000 in Funding)

The Tony Elumelu Foundation Convenes Africa’s Largest Gathering of Entrepreneurs.