Application Deadline: March 1st, 2018:
Africa’s largest philanthropy supporting entrepreneurship – The Tony Elumelu Foundation (TEF) is now accepting applications for business ideas that can transform Africa.
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.
- 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
* $5,000 seed capital is paid based on the official Central Bank of Nigeria naira equivalent value at the date of selection for the programme.
Launched in 2015, The Tony Elumelu Foundation Entrepreneurship Programme is the largest African philanthropic initiative devoted to entrepreneurship and represents our 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, create a million jobs, and add $10 billion in revenues to Africa’s economy.
The Tony Elumelu Foundation Entrepreneurship Programme is inspired by three guiding principles:
The inclusive economic philosophy of Africapitalism, based on the belief that a vibrant African-led private sector is the key to unlocking Africa’s economic and social potential
The commitment to drive African economic growth through the fostering of African entrepreneurshipThe mission to institutionalise luck and create an environment where home-grown pan-African companies in various sectors can flourish.
To establish the preeminent Pan-African entrepreneurship programme, designed to equip entrepreneurs with the skills needed to build strong and sustainable businesses.
To identify, grow and create 10,000 startups across Africa that have developed ingenious solutions to pressing economic challenges in their communities and countries; to improve lives, generate employment, and create prosperity and wealth.