The The Tony Elumelu Foundation runs the Tony Elumelu Foundation Entrepreneurship Programme (TEEP) for Africans with business ideas. The programme is also open to those with existing business that is not over 3 years. All successful applicants will receive business training, mentoring, a non-refundable $5,000 of seed capital and global networking opportunities.
Applications are made through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation.
The TEF Entrepreneurship Programme is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than 3 years 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.
Last year, the Foundation received about 216,000 applications, with 42% coming from women entrepreneurs, from every country on the continent.
The Programme 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 emphasises the importance of creating social and economic wealth.
According to the Foundation’s 2018 Impact Report, 70% of the total number of businesses in its alumni network were still operational two years after benefitting from the Programme. The report also identified an increase of 189% revenue generated and 197% increase in the number of additional jobs created by beneficiaries post-graduation from the Programme, as well as a 100% commitment to the Sustainable Development Goals.
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How to apply for the Tony Elumelu Foundation Entrepreneurship Programme (TEEP)
Follow these steps to apply for the Tony Elumelu Foundation Entrepreneurship Programme (TEEP)
1. Visit the TEFConnect portal
Application is through the TEFConnect portal. First step is to visit the portal at TEFConnect.com
2. Sign or login
Once you are at the portal you can sign up if you are a new user or login if you are an existing user
3. Apply!
Once you are logged in you will be able to apply. Just follow the information on the screen.
Requirement for the Tony Elumelu Foundation Entrepreneurship Programme (TEEP)
- You must be an African
- You must have an idea or existing business not more than 3 years