The Tony Elumelu Foundation Entrepreneurship Programme 2020
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
Launched in 2015, The Tony Elumelu Foundation Entrepreneurship Programme is the largest African philanthropic initiative devoted to entrepreneurship and represents their 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, create a million jobs, and add $10 billion in revenues to Africa’s economy. There are 1,000 places available annually for the applications that are selected by the selection committee for placement in the programme.
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.
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
- 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: March 1st, 2020