Africa’s largest business incubator, The Tony
Elumelu Foundation (TEF), is now accepting applications
from African entrepreneurs, with business ideas that can
transform Africa.
The application portal is open
and accepting submissions until Midnight WAT on March 1,
2017. To apply, complete the online application at:
Successful applicants
will join the third cycle of the TEF Entrepreneurship
Programme, TEF’s 10-year, $100 million commitment to train,
mentor and fund 10,000 African
entrepreneurs in every African country. Since inception in
2015, the Programme has assisted nearly 2,000 entrepreneurs and
created hundreds of jobs across the continent.
The Programme provides critical
tools for entrepreneurial success, including:
• Training: 12 weeks
of intensive training on setting-up and managing businesses
• Mentoring: A mentor will guide successful
applicants in creating a robust business plan
• Seed Capital: $5,000 in non-returnable
seed capital and access to a $5,000 convertible loan
TEF Founder, serial entrepreneur and
philanthropist Tony O. Elumelu, CON said:
“Our Programme is a deliberate
effort to institutionalise luck and provide the essentials for
business growth to Africa’s next generation of business leaders. It is a
demonstration of my faith in this generation’s ability to transform the
African narrative, from the single story of disease and poverty,
to one of enterprise and opportunity. Spread the word; we need Africa’s best
and brightest entrepreneurs. Their ideas will transform Africa.”
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.
To be eligible:
1. Business must be based in Africa
2. Business must be for profit
3. Business must be
0-3 years’ old
4. Applicants must be at
least 18 and a legal resident or citizen of an African
country
CEO of the Foundation, Parminder Vir
OBE said:
“We encourage women, French, Arabic and
Portuguese speakers and business ideas from every region across
Africa, to apply. Our 2,000 alumni are already growing their
businesses and improving lives. If you have a transformational business or
an idea, we have an opportunity for you.”
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Business