The Tony Elumelu Foundation Entrepreneurship Programme 2021
The Tony Elumelu Foundation Entrepreneurship Programme is once again 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.
Tony Elumelu Foundation Entrepreneurship Programme
This year’s intervention prioritises the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities.
To address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, the Foundation’s Entrepreneurship Programme will empower 1,000 young African entrepreneurs, selected from the 2020 cohort. The Foundation will also open applications to an additional 2,400 young entrepreneurs in 2021, in collaboration with global partners.
The Tony Elumelu Foundation, which celebrated ten years of impact in 2020, is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Programme. Successful applicants receive a world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities. The Programme is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.
The Tony Elumelu Foundation’s $100million Entrepreneurship Programme, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its 7th year and has empowered to date, over 9,000 young African entrepreneurs from 54 African countries.
The selected beneficiaries will join our current 9,038 alumni to receive:
- Business Training
- $5,000 non-refundable seed capital
- Global Networking Opportunities
The Tony Elumelu Foundation Entrepreneurship Programme is a Pan-African programme and open to business ideas from all the 54 African countries from which they will select the best business ideas for the programme.
To be eligible:
- Business must be based in Africa
- Business must be for-profit
- Business must be 0-3 years’ old
- Applicants must be at least 18 and a legal resident or citizen of an African country
If your company is a partnership, only one nominated person from the business or the partnership is able to join the programme.
All applications will be judged on 5 core criteria, which are:
- Feasibility of the business idea.
- Market Opportunity: knowledge and understanding of the market, customers, and competitors for their idea/business.
- Financial Understanding: understanding of the basic financial requirements of running a business, costs, and revenues.
- Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
- Leadership Potential and Entrepreneurial Skills: Demonstrate leadership potential, capable of attracting people, customers, and resources.
How to Apply
African entrepreneurs who have a business idea or a startup of fewer than three years in existence, in any sector and any country across Africa are eligible to apply.
- You must complete an application form by answering a series of mandatory questions and uploading additional documents and identification materials.
- After submission, you will receive a confirmation email of receipt within 1 working day.
Deadline: 31st March 2021