The TONY ELUMELU FOUNDATION (TEF) also known as Tony Elumelu Entrepreneurship Program is an African private-sector-led philanthropy that champions entrepreneurship and entrepreneurs across the continent. It was founded in 2010.
Tony Elumelu’s vision of Africapitalism, which views Africa’s private sector, particularly entrepreneurs, as the driver for the continent’s social and economic growth, is shown through the Foundation’s long-term engagement in empowering African entrepreneurs.
The TEF Entrepreneurship Programme, the Foundation’s flagship effort, is a 10-year, $100 million commitment to find, train, coach, and fund 10,000 entrepreneurs who can change the face of business in Africa.
Since 2015, the Tony Elumelu Entrepreneurship Programme – Africa’s only funded entrepreneurship stimulus – has provided non-returnable seed cash of $5,000 to 15,847 African entrepreneurs, as well as access to experienced mentors and membership in Africa’s largest entrepreneurial ecosystem.
For its 2021 Entrepreneurship Programme, the Tony Elumelu Foundation distributed USD$24.75 million to 5000 African businesses across Africa in 2021. Given the effects of the covid19 pandemic across Africa, the Foundation’s Entrepreneurship Program remains one of the largest private sector solutions to supporting the economic recovery of African youth, women, and SMEs.
Beneficiaries of the Tony Elumelu Foundation Entrepreneurship Program are launching and expanding groundbreaking enterprises that have produced over 400,000 direct and indirect jobs across Africa.
Eligibility Requirements for Tony Elumelu Entrepreneurship Program
To be able to participate in the entrepreneurship program, you need to be aware of the information below.
- The Tony Elumelu Foundation Entrepreneurship Programme is open to Africans from all 54 African countries with scalable business ideas or a business that has been operational for no more than 5 years.
- All businesses must be business ideas or an early stage company, in the range of 0 to 5 years old
- Applicants must be 18 years of age and above.
- Your application must focus on ONE business only
- Interested applicants may register on TEFConnect.net
- The programme is not open to research institutions, faith based organisations, value adding trading companies, government contractors and businesses not located in Africa.
- Businesses must not adversely affect the environment, lives and property. Existing businesses or business ideas must be for profit, and must be the original work of those making the submission.
How to Apply for the Tony Elumelu Entrepreneurship Program (TEF) Grant
The Tony Elumelu Foundation Entrepreneurship Program is open to all African entrepreneurs, including new start-ups and existing young firms in any industry.
Interested applicants may apply immediately at www.tefconnect.com, a digital networking platform for African entrepreneurs. Please visit the Tony Elumelu Foundation’s website for a list of the 2021 Tony Elumelu Entrepreneurs as well as more information about the program.
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The TEF Training of Tony Elumelu Entrepreneurship Program
The Start-up Enterprise Toolkit, part of the TEF training package, is a bespoke programme designed to empower young and vibrant entrepreneurs as they embark on their entrepreneurial journey, with an emphasis on the successful implementation of their business plans and ideas.
The TEF training program is self-paced for each entrepreneur, enabling participants the essential flexibility to attend the training course while continuing to do their regular tasks.
The program’s training phase will continue for twelve (12) weeks. However, certain intervention programs could be lengthened to four or six weeks.
Initial Seed Capital
The initial seed capital investment will be $5,000 only per successful applicant.
Selection Process for Tony Elumelu Entrepreneurship Program:
Applicants will be chosen after successfully completing all phases of the training and also participating in the pitch.
Stages for the Grant
The program stages are as follows
- Application Phase
- Training & Mentorship Phase
- Business Plan Submission Phase
- Pitching Phase
- Seed Capital Phase
Conclusion
If you have ever wished to participate in the Tony Elumelu Entrepreneurship Program for the seed capital of $5,000, then you need to have all the requirements as stated above and also register as soon as possible whenever there is an opening for new applicants.
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