The Tony Elumelu Foundation (TEF), Africa’s largest philanthropy supporting entrepreneurship, is now open, to help vibrant young entrepreneurs with world changing ideas take the lead.
This philanthropist is determined to leave a mark in the history of entrepreneurship and trust me, I envy him a lot.
This Programme however is in its 4th cycle, is TEF’s 10-year, $100 million commitment to pick, mentor, polish and train capable hands in the world of entrepreneurship.
2018 application opens on January 1st 2018 and will end on 1st of March 2018. This means you have to hurry before the deadline. According to many online sources, the program will hold from May 1 till December 2018.
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 Programme also 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 (paid based on the official Central Bank of Nigeria naira equivalent value at the date of selection for the programme) 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 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
Serial entrepreneur and philanthropist Tony O. Elumelu, CON said:
“When we launched the TEF Programme and committed $100 million to empowering Africa’s entrepreneurs, I knew we would create impact, but I never imagined it would be impact of this magnitude.
“We have unleashed a movement of African entrepreneurs, a force so strong, so inspiring, that I am confident they will collectively transform Africa. We need Africa’s best and brightest entrepreneurs to come learn, grow their businesses and build our continent.”
CEO of the Foundation, Parminder Vir OBE said: “We encourage women, French and Portuguese speakers to apply. Our 3,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you.”
To apply, complete the online application at www.application.tonyelumelufoundation.org. The deadline is midnight (WAT) on 1 March 2018.