Applications for the 6th cohort of the Tony Elumelu Foundation Entrepreneurship Programme are now open.
The Tony Elumelu Foundation (TEF)—Africa’s leading philanthropy focused on empowering African entrepreneurs—is looking for the most innovative business ideas across the African continent.
You are eligible to apply if you have a business idea or a startup under 3 years of existence in any sector and in any country across Africa.
You could be selected to join our current 9,631 beneficiaries across 54 African countries to receive:
1. Business Training
3. $5,000 non-refundable seed capital
4. Global Networking Opportunities
The application portal opens January 1 and closes midnight, March 1, 2020.
Applications are made through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation.
The TEF Entrepreneurship Programme is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than 3 years existence, operating in any sector. Successful applicants will join the over 9,000 current beneficiaries,from 54 African countries, and receive business training, mentoring, a non-refundable $5,000 of seed capital and global networking opportunities.
The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 young African entrepreneurs. The goal is to create millions of jobs and the revenue required for the sustainable development of the continent, implementing the philosophy of Africapitalism, which positions the private sector as the growth engine for Africa and emphasises the importance of creating social and economic wealth.
According to the Foundation’s 2018 Impact Report, 70% of the total number of businesses in its alumni network were still operational two years after benefiting from the Programme.
The report also identified an increase of 189% revenue generated and 197% increase in the number of additional jobs created by beneficiaries post-graduation from the Programme, as well as a 100% commitment to the Sustainable Development Goals.