The Tony Elumelu Foundation (tef) was founded in 2010 by
Tony o. Elumelu, con, an entrepreneur, investor and philanthropist who is
passionate about africa’s economic development. 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.

In 2015, TEF consolidated its various programmes and
initiatives and made investing in Africa’s next generation of entrepreneurs and
business leaders a priority. The future of the Tony Elumelu Foundation centers
on the provision of structured, robust, and multifaceted support to
entrepreneurs around Africa through the Tony Elumelu Foundation
Entrepreneurship Programme.

The vision for the Foundation is to unlock the obstacles that Africa’s entrepreneurs face as they grow their start-ups into small to medium enterprises (SMEs), their SMEs into national growth companies, and their national growth companies into African multinationals.

The Tony Elumelu Foundation (tef) the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting application for the 2019 cohort of TEF 5th Cycle of $100m Entrepreneurship Programme.


The foundation’s flagship initiative, the TEF
Entrepreneurship programme, is a 10-years, $100 million commitment to identify,
train mentor and fund 10,000 entrepreneur capable of changing the face of
business across Africa.


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

Programme Description

Upon completion of the 12-week start-up Enterprise toolkit (learning)
programme, certification of submitted business plan, provision of required documentation,
Business bank account, among other requirement, entrepreneurs will qualify for
the first stage non refundable seed capital of $5,000 (terms and Condition
applied)

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Tony Elumelu Entrepreneurship who successfully comple the
programme by meeting the necessary requirement and deadlines will be eligible
for the funding. There are two stages of sunding available in the programme;

  1. First stage seed capital funding of $5,000
    (based on the central bank of Nigeria exchange rate) which is a non refundable
    investment.
  2. Second stage capital returnable investment –
    entrepreneurs will apply and be considered for this based on the viability of
    their business.

Selection Criteria for the programme

  • Feasibility of the business idea
  • Market opportunity
  • Financial understanding of the requirements of
    running a business, costs & revenue
  • Scalability which include must demonstrate
    potentials for replication and growth of their products to ceate jobs &
    wealth
  • Leadership potential and entrepreneurship skills

Method of Application

Click here to apply

More information visit official webpage of the tony Entrepreneurship programme (TEEP) 2019