Lagos, Nigeria, January 1, 2019//-The Tony Elumelu Foundation (TEF) is accepting applications for the fifth cycle of its Entrepreneurship Programme for 1,000 selected applicants who will join the current 4,470 beneficiaries of the Programme.
The 2019 Applications hosted on the largest digital networking platform for African entrepreneurs – TEFConnect on www.tefconnect.com on the 1st of January 2019 to 1st March 2019.
Since 2015, the TEF Entrepreneurship Programme – the only African-funded entrepreneurial catalyst of its kind – has empowered 4,470 African entrepreneurs, with seed capital of $5,000 each; twelve weeks of accelerated online business training; access to experienced mentors; and membership of Africa’s largest entrepreneurial ecosystem.
Beneficiaries of the Programme have been profiled in global media, including the Forbes [Africa] 30 Under 30 list.
They have attracted the attention of investors, as well as have been recipients of awards, including the Google Impact Challenge and the Chivas’ “The Venture” Award for Social Entrepreneurs.
The Entrepreneurship Programme has facilitated exchanges between African entrepreneurs and local and global public sector leaders, investors and development partners, raising their business profiles, scaling their opportunities, showcasing their innovation and identifying ways to further strengthen the business environment in Africa.
In June 2018, the Foundation convened a forum with President Emmanuel Macron of France and young African entrepreneurs.
In October 2018, the Foundation was proud to have President Nana Akufo-Addo of Ghana and President Uhuru Kenyatta of Kenya address the gathering of young African entrepreneurs at the TEF Entrepreneurship Forum.
Founder, Tony O. Elumelu, CON, stated: “The private sector must be the core driver of Africa’s economic transformation, but this sector cannot attain its full potential if entrepreneurs are left behind. We call on all stakeholders – policymakers, business leaders and development agencies – to actively commit to creating a better future for our young Africans who have demonstrated intellect, skill, and passion, to empower them to succeed because their success is Africa’s success.
The TEF Entrepreneurship Programme is by far the most impactful project of my life and represents my commitment to transforming Africa through entrepreneurship”.
The Foundation’s investment, impact and commitment to advancing entrepreneurship is predicated on the belief that Africa’s entrepreneurs hold the key to unlocking the potential of the continent and facilitating the transformation of Africa.
With this objective, the Tony Elumelu Foundation launched the TEF Entrepreneurship Programme, its US$100million flagship programme to identify over a period of 10 years, 10,000 African startups and entrepreneurs, with ideas that have the potential to transform the African continent.
Its goal is to invest in businesses that together can generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa.
The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run businesses based in Africa that are less than three years old. Business ideas that are yet to launch are also encouraged.
Applications will be judged based on criteria including: feasibility, scalability and potential for growth of the product/service; market opportunity for the idea/business; financial understanding, leadership potential and entrepreneurial skills.
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