LAGOS, Nigeria, January 1, 2018 / PRNewswire /
– DEADLINE FOR APPLICATIONS: 1st March 2018
PROGRAM DATES: 1May – December 2018
Africa’s largest entrepreneurship philanthropy – The Tony Elumelu Foundation (TEF) – is now accepting applications with business ideas that can transform Africa.
To apply, please complete the online application at application.tonyelumelufoundation.org. The deadline for submission is midnight (West African Time), March 1, 2018. The program provides essential tools for business success, including: Training: 12 weeks of intensive online training that guides how to create and run a business? Mentoring: A leading mentor to guide the early stages of business transformation? Financing: $ 5,000 * in seed capital to demonstrate the concept, plus access to other funding? A network: access to the largest network of African start-ups as well as TEF’s own international contacts Currently in its 4th cycle, the program consists of the 10-year USD 10 million EFT commitment to identify , train, supervise and finance 10,000 African entrepreneurs by 2024.
The founder of TEF, an accomplished entrepreneur and philanthropist Tony O. Elumelu, Commander of the Order of Niger, said: “When we launched the TEF program and pledged $ 100 million dollars, I knew we were going to make an impact, but I never imagined it would reach that magnitude. We started a movement of African entrepreneurs. This is so powerful that I am confident that these entrepreneurs will collectively transform Africa. It is necessary that the most trained and bright people in Africa develop their businesses and build our continent. 1,000 entrepreneurs will be selected based on the viability of their idea, including: market opportunity, financial understanding, scalability, leadership and entrepreneurial skills.
Conditions of eligibility :
1. The company must be based in Africa 2. The company must be for-profit 3. The company must be between 0 and 3 years old 4. Candidates must be at least 18 years old and be legal residents or citizens of an African country.
The Foundation’s CEO, Parminder Vir, Order of the British Empire, said: “We encourage women, francophones and lusophones to apply. Our 3,000 alumni are already developing their businesses and improving their lives. If you have a business or idea that can change the game, we have an opportunity for you. * The starting capital of US $ 5,000 is paid according to the official value of the Naira at the Central Bank of Nigeria on the date of selection for the program.
About the Tony Elumelu Foundation The Foundation’s long-term investment in empowering African entrepreneurs is representative of Tony Elumelu’s philosophy of “Africapitalism”, which places the African private sector, and in particular the entrepreneurs, as the catalyst for the continent’s social and economic development.