23 Jan 2018

TONY ELUMELU FOUNDATION PROGRAMME 2018 PORTAL OPEN, APPLY NOW!



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:
  1. 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.
  2. 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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