TONY ELUMELU
FOUNDATION PROGRAMME 2018.
The Tony
Elumelu Foundation (TEF), is now accepting applications for the Tony Elumelu
Entrepreneurship Programme (TEEP) ($100m Pan-African entrepreneurship initiative)
for Young African Entrepreneurs with business ideas that can transform Africa.
This is another
opportunity for young entrepreneurs. Last one was YouWin Connect! From Federal
Government Which many people missed because of poor information but TONY
ELUMELU FOUNDATION PROGRAMME 2018 is another opportunity you cannot afford to
miss.
The
Programme provides critical tools for business success, including:
Training: 12
weeks of intensive online training which guides creating and managing a
business
Mentoring: A
world-class mentor to guide during the early transformation stages of the
business
Funding: $5,000*
in seed capital to prove the concept, plus access to further funding
Network: Access
to the largest network of African start-ups and TEF’s own global contacts
The Programme,
in its 4th cycle, is TEF’s 10-year, $100 million commitment to identify, train,
mentor and fund 10,000 African entrepreneurs by 2024.
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.
Successful
applicants will join the 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, the Programme has assisted nearly 3,000 entrepreneurs and created
hundreds of jobs across the continent.
To be
eligible for the Application, this criteria must be meet:
- The business must be based in Africa
- The business must be for profit
- The business must be 0-3 years old
- Applicants must be at least 18 and a legal resident or citizen of an African country
To apply for
TEEP, complete the online application at application.tonyelumelufoundation.org. The deadline is midnight (WAT) on 1 March
2018.
Funding
Options of the Tony Elumelu Entrepreneurship Programme (TEEP):
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 for the Tony Elumelu Entrepreneurship Programme:
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.
Note: The
deadline for the application is midnight (WAT) on 1 March 2018.
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Regard,
IKE DECK Team.
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more help or suggestion;
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