The Tony Elumelu Foundation Entrepreneurship Programme 2018
The Tony Elumelu Foundation (TEF), Africa’s largest business incubator, is now accepting applications for the 4th cycle of The Tony Elumelu Foundation Entrepreneurship Programme. Outstanding African entrepreneurs who have start-ups or business ideas with the potential to grow are encouraged to apply. Through this business development programme, they provide training, mentoring, funding and network access to catalyze growth in Africa’s most undervalued resource- its entrepreneurs.
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 a placement in the programme.
The Tony Elumelu Foundation Entrepreneurship Programme Pillars
The 7 pillars of The Tony Elumelu Foundation Entrepreneurship Programme are a unique, holistic system of effective and intensive support.
- Startup Enterprise Toolkit: A 12-week programme to equip startups with basic skills required to launch and run their businesses at the early growth stage. It covers several topics including starting and scaling a business, business development, marketing strategy, effective management, product design etc.
- Online mentoring: Their model provides a credible technology-enabled platform for access to world-class mentors from across Africa and internationally. The mentors have faced similar challenges and are able to steer our startups on a successful path.
- Online Resource Library: A bespoke compendium of materials, case studies, videos, tasks, templates and interesting articles. This includes the 12-week series on the TOE Way, shared concurrently. It expounds the core business values of the Founder, with an aim to building the right character in the entrepreneurs.
- Meet-ups: Country and state-level meetups to ignite the entrepreneurial fire and promote close interaction within the programme. These selections facilitate personnel exchanges, the formation of strong ties with one another and with local hubs and key government agencies.
- Tony Elumelu Foundation Entrepreneurship Forum: A dedicated world-class annual Forum that brings together key persons in the African and global entrepreneurial eco-system with an aim to leverage our convening powers to promote African entrepreneurs and entrepreneurship; and to connect with local and regional decision makers.
- Seed Capital: Each entrepreneur receives a non-returnable seed capital of $10,000 paid in two tranches. The aim is to support early growth, proof-of-concept and/or enhance their business operation. This seed capital is tied to clear milestones in a well-articulated and relevant business plan.
- Tony Elumelu Foundation Entrepreneurship Alumni Network: The alumni network comprises all Tony Elumelu Entrepreneurs, following the successful completion of the 12-week training programme. The online and offline network promotes sector-based and geography-based communities, collaboration across Africa as well as a healthy competition.
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, 2018