In line with encouraging entrepreneurship and self sustenance among Youths in Africa at large, the Tony Elumelu Foundation (TEF) is now accepting applications for business ideas that can transform Africa.
The Programme includes a provision of critical tools for business success, 12 weeks of intensive online training, which guides creating and managing a business; A world-class mentor to guide during the early transformation stages of the business; $5,000 in seed capital to prove the concept, plus access to further funding and access to the largest network of African start-ups and TEF’s own global contacts
Currently in its 4th cycle, the programme is TEF’s 10-year $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024.
According to TEF Founder, serial entrepreneur and philanthropist, Mr. Tony O. Elumelu, “When we launched the TEF Programme and committed $100 million to empowering Africa’s entrepreneurs, I knew we would create impact, but I never imagined it would be impact of this magnitude. We have unleashed a movement of African entrepreneurs — a force so strong, so inspiring, that I am confident they will collectively transform Africa. We need Africa’s best and brightest entrepreneurs to come learn, grow their businesses and build our continent.”
A total of 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. To be eligible for the programme, the business must be based in Africa, profitable and must be 0-3 years old. Applicants must be at least 18 and a legal resident or citizen of an African country
According to the CEO of the Foundation, Parminder Vir OBE, “We encourage women, French and Portuguese speakers to apply. Our 3,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you.”
With March 1, 2018, as the deadline, interested applicants can now apply by completing the online application at application.tonyelumelufoundation.org.