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Tony Elumelu Foundation, TEF Free $100m Entrepreneurship Scheme | Requirements | Application Portal | Application Closing Date
The Tony Elumelu Foundation, TEF has announced that it will begin accepting applications for the fourth cycle of its entrepreneurship development program from outstanding African entrepreneurs who have start-up or business ideas with high growth potential.
Mentor and fund 10,000 African entrepreneurs in 10 years, creating 1,000,000 jobs and $10bn in social and economic wealth.
It noted that after three cycles, it had received 158,000 applications from African entrepreneurs in 107 countries, including every nation of Africa, empowered nearly 3,000 businesses with 12-weeks of online training; world-class mentoring; access to TEF’s network of start-ups; and seed capital of $5,000.
The foundation was said to have invested a total of $14,235,000, including $4,270,500 in agriculture; $1,285,000 in Information and Communication Technology; $1,245,000 in education and training; and $7,400,000 more in start-ups across 19 other sectors.
“The programme is open to citizens and legal residents of all African countries with businesses based in Africa, less than three years old, including new start-ups,” the statement said.
It quoted Elumelu as saying, “As an entrepreneur myself, I understand what it feels like to yearn for a lifeline, to hope for a ‘big break. In turn, I have set out to institutionalise luck with the foundation and give back to the continent of Africa. I am pleased the Programme is already unleashing Africa’s entrepreneurs and driving economic transformation.”
A statement from the foundation said the application portal would open midnight January 1.
How to Apply for this Tony Elumelu Foundation Entrepreneurship Program
Interested and qualified candidates should click here to apply