Application Deadline: March 1st, 2019.
The Tony Elumelu Foundation, the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting applications for the 2019 cohort of the TEF 5th Cycle of $100m Entrepreneurship Programme.
The Foundation’s flagship initiative, the TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train mentor and fund 10,000 entrepreneurs, capable of changing the face of business across Africa.
Eligibility Requirements:
The programme is open to all citizens and legal residents of any one of the 54 African countries.
The proposed business must be registered and operate in Africa.
Funding
Upon completion of the 12-week Start-up Enterprise Toolkit (learning) programme, certification of submitted business plan, provision of required documentation, business bank account, among other requirements, entrepreneurs will qualify for the first stage non-refundable seed capital of $5,000 (terms and conditions apply
Tony Elumelu Entrepreneurs who successfully complete the programme by meeting stipulated requirements and deadlines will be eligible for funding. There are two stages of funding available to entrepreneurs:
First
stage seed capital funding of $5,000 (based on the official Central
Bank of Nigeria exchange rate)– a non-returnable investment. Please see
Terms and Conditions for clarification.
Second stage capital
returnable investment – entrepreneurs will apply and be considered for
this based on the viability of their business.
Selection 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.
Application Process:
All applications must be submitted ONLINE through the application platform of the TEF Connect . You must complete an application form by answering a series of mandatory questions.
After submission, you will receive a confirmation email of receipt within 1 working day.
Applicants can apply on TEFConnect – www.tefconnect.com – the largest digital networking platform for African entrepreneurs.
For More Information:
Visit the Official Webpage of the Tony Elumelu Entrepreneurship Programme (TEEP) 2019