Africa's largest philanthropy supporting entrepreneurship, The Tony Elumelu Foundation (TEF) is now accepting applications for business ideas that can transform Africa.

The Programme provides critical tools for business success, including:

  • Training: 12 weeks of intensive online training which guides creating and managing a business
  • Mentoring: A world-class mentor to guide during the early transformation stages of the business
  • Funding: $5,000 in seed capital to prove the concept, plus access to further funding
  • Network: Access to the largest network of African start-ups and TEF's own global contacts

The Programme, in its 4th cycle, is TEF's 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024. 

TEF Founder, serial entrepreneur and philanthropist Tony O. Elumelu, CON said:

"When we launched the TEF Programme and committed $100 million, I knew we would create impact, but I never imagined it would be of this magnitude. We've unleashed a movement of African entrepreneurs -- a force so strong, I am confident they will collectively transform Africa. We need Africa's best and brightest to grow 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.

Photo: 3,000 entrepreneurs have been selected and given access to training, mentoring, funding and the Foundation's global network over the last 3 Programme cycle. (PRNewsfoto/Tony Elumelu Foundation)

Eligibility

  1. The business must be based in Africa
  2. The business must be for profit
  3. The business must be 0-3 years old
  4. Applicants must be at least 18 and a legal resident or citizen of an African country

CEO of the Foundation, Parminder Vir OBE said:

"We encourage women, French and Portuguese speakers to apply. Our 3,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you."

 $5,000 seed capital is paid based on the official Central Bank of Nigeria naira equivalent value at the date of selection for the programme.

Dateline for submission: March 1, 2018

Source: Tony Elumelu Foundation

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