Applications are open for the Tony Elumelu Foundation Entrepreneurship Program 2022. The Tony Elumelu Foundation (TEF)—Africa’s leading philanthropy focused on empowering African entrepreneurs—is looking for the most innovative business ideas across the African continent.
The TEF Entrepreneurship Program is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than 3 years of existence, operating in any sector. Successful applicants will join the over 9,000 current beneficiaries, from 54 African countries, and receive business training, mentoring, a non-refundable $5,000 of seed capital, and global networking opportunities.
The Program is a 10-year, $100 million commitment to identify, train, mentor, and fund 10,000 young African entrepreneurs. The goal is to create millions of jobs and the revenue required for the sustainable development of the continent, implementing the philosophy of Africapitalism, which positions the private sector as the growth engine for Africa and emphasizes the importance of creating social and economic wealth.
You are eligible to apply if you have a business idea or a startup under 3 years of existence in any sector and in any country across Africa.
Benefits from Elumelu Foundation Entrepreneurship Program
Selected entrepreneurs will receive:
- World-class business management training
- $5,000 non-refundable seed capital
- Access to key networks and markets
- Global Networking Opportunities
Eligibility Required for Elumelu Foundation Entrepreneurship Program
- Firstly, 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.
- Secondly, 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.
- Thirdly, Applicants can be outstanding African entrepreneurs running existing start-ups with high growth potential and aspiring business owners with transformative ideas.
- Additionally, All businesses must be business ideas or an early-stage company, in the range of 0 to 3 years old.
- Moreover, Your application must focus on ONE business only.
- They are particularly looking to grow representation from French, Arabic, and Portuguese speakers, as well as female entrepreneurs.
- Lastly, The program 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.
Applications are made through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation.
Lastly, It is important to visit the official website link found below to access the application form.
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