Early stage startups from across Africa are now welcome to apply for the 2019 cohort of the Tony Elumelu Foundation Entrepreneurship Programme as applications have begun for startups with innovative ideas across different sectors and the deadline is set at March 1, 2019.
Here’s how the TEF Entrepreneurship Programme works.
Now in its fifth year, the TEF Programme is a $100 million commitment cohort to identify, train, mentor and fund 10,000 African entrepreneurs, as well as generate at least one million new jobs and create at least $10 billion in new business revenue across Africa.
The TEF Entrepreneurship Programme has empowered 4,470 entrepreneurs. Inspired by Tony Elumelu’s economic viewpoint of Africapitalism and his vision to institutionalise luck and democratise opportunity for African entrepreneurs.
The Foundation has executed one of the most determined entrepreneurship platforms worldwide, using a bespoke and robust selection, training and implementation process to create visible and sustainable impact across all 54 African countries.
“Outstanding African entrepreneurs running existing start-ups with high growth potential and aspiring business owners with transformative ideas are invited to apply. We are particularly looking to grow representation from French, Arabic and Portuguese speakers, as well as female entrepreneurs.”
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From the preceding programme, chosen entrepreneurs have transformed their businesses and their communities after getting from the Programme’s 7 pillars – $5,000 in seed capital, business development training, mentorship, access to TEFConnect, a pan-African meetup, TEF network membership and participation at the annual TEF Entrepreneurship Forum.
“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, says, founder Tony Elumelu. “The TEF Entrepreneurship Programme is by far the most impactful project of my life and represents my commitment to transforming Africa through entrepreneurship.”
TEF is looking for citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years. Entries will be assessed 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.