Tony Elumelu Foundation in Nigeria is currently accepting applications for the 2020 Tony Elumelu Foundation Entrepreneurship Programme for African emerging entrepreneurs.

Established in 2010, The Tony Elumelu Foundation (TEF) is the leading philanthropic institution in Africa championing entrepreneurship and entrepreneurs across the continent. The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.

The Foundation’s flagship initiative, the TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train mentor and fund 10,000 entrepreneurs, capable of changing the face of business across Africa. Launched in 2015, the Tony Elumelu foundation entrepreneurship programme is the largest African philanthropic initiative committed to empowering African entrepreneurs and entrepreneurship on the continent.

Worth of Award

Tony Elumelu Entrepreneurs who successfully complete the programme by meeting stipulated requirements and deadlines will be eligible for funding. There are two stages of funding available to entrepreneurs:

• First stage seed capital funding of $5,000 (based on the official Central Bank of Nigeria exchange rate)– a non-returnable investment.
• Second stage capital returnable investment – entrepreneurs will apply and be considered for this based on the viability of their business.

Eligibility

• The programme is open to all citizens and legal residents of any one of the 54 African countries. The proposed business must be registered and operate in Africa.
• Applicants must be 18 years old and must not be considered a minor in their country of residence. There is no upper-limit age restriction.
• The programme is not open to research institutions, faith-based organizations, value-adding trading companies, government contractors and businesses not located in Africa.  Businesses must not adversely affect the environment, lives, and property. Business ideas must be for profit and must be the original work of those making the submission.
• All businesses must be business ideas or an early stage company, in the range of 0 to 3 years old.
• Your application must focus on ONE business only.
• Current employees or their family members from the Tony Elumelu Foundation and affiliate companies in the Heirs Holdings Group and UBA Group are not eligible to apply for the TEF Entrepreneurship Programme, either individually or as part of a team.

Applications will be judged 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.

How to Apply

• All applications must be submitted ONLINE through the application platform of the TEF Connect. You must complete an application form by answering a series of mandatory questions.
• After submission, you will receive a confirmation email of receipt within 1 working day.

Deadline: Applications close midnight on March 1, 2020. It will not be possible to submit any applications prior to or after these dates.

Click here for more details and to apply