Good news! Tony Elumelu Foundation Entrepreneurship Program is presently on. The foremost philanthropy in Africa, Tony Elumelu Foundation (TEF) is committed to empowering African entrepreneurs, opens applications on its TEFConnect digital platform (www.tefconnect.com) today, January 1, 2021.
Application Deadline: 31st March 2021
This year’s mandate prioritizes the economic recovery of small and medium scale initiatives (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities.
To face the unique trials arising from the pandemic, help millions out of poverty and generate viable employment all over the continent, the Foundation’s Entrepreneurship Program will enable 1,000 young African entrepreneurs, picked from the 2020 cohort. The Foundation will also open applications to an added 2,400 young entrepreneurs in 2021, in association with global partners.
The Tony Elumelu Foundation, which celebrated ten years of its influence in 2020, is enabling a novel generation of African entrepreneurs, via the TEF Entrepreneurship Program. Prosperous applicants get a world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities. The Program is open to entrepreneurs across Africa, both fresh start-ups and existing young businesses, operating in any sector.
Type: Entrepreneurship
Eligibility for Tony Elumelu Foundation Entrepreneurship Program
Tony Elumelu Foundation Entrepreneurship Program recognizes exceptional African entrepreneurs who have start-ups or business ideas with the prospects to grow.
Eligible Countries: Countries in Africa
Number of Awards: 2,400
Benefits of Tony Elumelu Foundation Entrepreneurship Program
The training has been structured to educate and you in starting or growing your business to overcome the challenges faced by entrepreneurs across the African continent. The curriculum makes emphases on practical, iterative learning that is beneficial even long after the training period.
What to Except from the Program
The TEF Entrepreneurship Program will be delivered in different stages as listed below:
- Application Stage
- Training &Mentorship Stage
- Business Plan Submission Stage
- Pitching Stage
- Seed Capital Stage
THE APPLICATION STAGE
This will occur from the January 1 to March 31. Once applications are closed, qualified candidates will be placed in the suitable training path as follows:
PREPARATORY
This implies that the individual do not have the skillset required to begin a business. Candidates will go through the general training on TEFConnect. Candidates will, however, not be qualified for mentorship or seed capital.
START-UP/ BEGINNER
This implies that candidate is a starter giving the business start-up profiling. Candidates will go through the beginner training modules and will have entree to world class mentors during the program.
INNOVATIOR/ INTERMEDIATE
This implies that candidates have been profiled to be an intermediate entrepreneur. Candidates have a good prospect to be a successful entrepreneur. Candidates will go through the Intermediate training modules and will have entree to world class mentors during the program.
DISRUPTOR/ ADVANCED
This implies that candidates are identified to be natural or a seasoned entrepreneur. Candidates will go through the Advanced training modules and will have access to world class mentors during the program.
THE TRAINING AND MENTORSHIP STAGE
Once selected and placed in the right training path, candidate will be qualified to participate in rigorous business training and mentoring sessions. There will be multiple choice questions to track candidates’’ performances. Candidates will attend a virtual orientation program to learn more about the procedure, and timelines with resources available will be shared to you to succeed. The qualified entrepreneurs will be given access to join the peer-to-peer support groups.
- Qualified entrepreneurs will be expected to finish the business training, answer the quiz at each end of each module.
- The shortlisted candidates after the training will be given the opportunity to develop a BUSINESS PLAN
THE BUSINESS PLAN AND FINANCIALS SUBMISSION STAGE
This template will help partakers create a first draft of their business plan. Compose a business plan. After the BUSINESS TRAINING & BUSINESS PLAN SUBMISSION, only successful applicants (who complete the MCQs and score above cut off mark and submit a business plan) would be qualified to move on to the next stage: the PITCHING COMPETITION.
THE PITCHING STAGE
This is an opportunity to showcase your business knowledge and convince the judge about the viability of your business. At the pitching stage, entrepreneurs will present their ideas before a panel of judges. Only the successful applicants from the pitching competition will get seed capital funding and access to the Alumni network to support their business ambitions.
If you successfully finished all essential training prerequisite and submitted a business plan, but was unsuccessful after the pitching competition, candidate will get a training completion certificate and can reapply following year. All qualified entrepreneurs must go through this stage to be eligible for SEED CAPITAL.
THE SEED CAPITAL STAGE
All entrepreneurs who have successfully attained all the above stages will be mandated to open business accounts and seed capital will flow into these accounts created. An entrepreneur who is qualified to get seed funding will be given a CERTIFICATE OF COMPLETION AND ACHIEVEMENT from the Foundation.
Tony Elumelu Foundation Entrepreneurship Program – How to Apply
Apply here for Tony Elumelu Foundation Entrepreneurship Program.
- It is imperative to go through all application prerequisite in the Award Webpage (see Link below) before applying.
- GOODLUCK as you apply for Tony Elumelu Foundation Entrepreneurship Program
Visit Award Webpage for Details on Tony Elumelu Foundation Entrepreneurship Program.
Important Information: Accomplishment of the training program is a firm condition to moving progressing to the submission and evaluation of your business plan, partaking in the pitching competition, and receipt of seed capital.