Africa’s largest business incubator, The Tony Elumelu Foundation (TEF) has announced that it is now accepting applications from African entrepreneurs, with business ideas that can transform Africa.
The application portal is open and accepting submissions until Midnight West African Time on March 1, 2017.
Successful applicants will join the third cycle of the TEF Entrepreneurship Programme, TEF’s 10-year, $100 million commitment to train, mentor and fund 10,000 African entrepreneurs in every African country.
Since inception in 2015, the Programme has assisted nearly 2,000 entrepreneurs and created hundreds of jobs across the continent.
The Programme provides critical tools for entrepreneurial success, including 12 weeks of intensive training on setting-up and managing businesses and a mentor who will guide successful applicants in creating a robust business plan including $5,000 in non-returnable seed capital and access to a $5,000 convertible loan.
TEF Founder, serial entrepreneur and philanthropist Tony O. Elumelu, said “Our Programme is a deliberate effort to institutionalise luck and provide the essentials for business growth to Africa’s next generation of business leaders.”
He added, “It is a demonstration of my faith in this generation’s ability to transform the African narrative, from the single story of disease and poverty, to one of enterprise and opportunity. Spread the word; we need Africa’s best and brightest entrepreneurs. Their ideas will transform Africa.”
1,000 entrepreneurs will be selected based on the viability of their idea, including market opportunity, financial understanding, and leadership and entrepreneurial skills demonstrated in the application.
To be eligible, the applicant’s business must be based in Africa and the business must be for profit and should be from 0-3 years’ old while applicants must be at least 18 and a legal resident or citizen of an African country
CEO of the Foundation, Parminder Vir said: “We encourage women, French, Arabic and Portuguese speakers and business ideas from every region across Africa, to apply. Our 2,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you.”
To apply, complete the online application at: www.tonyelumelufoundation.org/programme
I smell a RAT here, would rather trust an indigenous lending institution or bank than venture into a moslem world, let alone WEST AFRICA
These are crooks who take advantage of the African young generation’s desperation for success and money making. You give them your idea, they study it, and steal the same idea for their benefit. These Nigerians think they can outsmart everyone in Africa. Please keep your ideas to yourself and start small until you get funding elsewhere to expand rather than selling it off to these mafiazos of Niger Delta. Be careful.
Crooks adertise their businesses using cars that open with doors upwards the one shown above. This is to appeal to the materialistic kind. I have no evidence, but would still advise caution.