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.
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About the TEF Entrepreneurship Program
The Tony Elumelu Foundation, the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting applications for the 2019 cohort of the TEF Entrepreneurship Program. The Program is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs.
The Program’s objective is to generate at least 1,000,000 new jobs and create at least $10 billion in new business revenue across Africa. Now in its 5th year, the TEF Entrepreneurship Program has empowered 4,470 entrepreneurs, using a bespoke and robust selection, training and implementation process to create visible and sustainable impact across all 54 African countries.
Funding
The first stage is a non-returnable investment of the equivalent of $5,000 (based on the Central Bank of Nigeria exchange rate as at the date of Selection), which is paid into the Business bank accounts of Entrepreneurs upon completion of the 12-week training program, provision of required documentation, certification submitted business plan among other requirements; the second stage is a returnable investment, which entrepreneurs will apply for and be considered for based on the viability of their business.
Criteria for selection
The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years.
The deadline for applications submission is March 1, 2019.
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.
Applicants can apply on TEFConnect - http://www.tefconnect.com
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