The Tony Elumelu Foundation (TEF), is now accepting applications for the Tony Elumelu Entrepreneurship Programme (TEEP) ($100m Pan-African entrepreneurship initiative ) for for Young African Entrepreneurs with business ideas that can transform Africa.
Successful applicants will join the cycle of the TEF Entrepreneurship Programme, $100 million commitment to
Since inception, the Programme has assisted nearly 3,000 entrepreneurs and created hundreds of jobs across the continent.
TEEP Eligibility Requirements
Business must be based in Africa
Business must be for profit
Business must be 0-3 years’ old
Applicants must be at least 19 and a legal resident or citizen of an African country
The Programme provides critical tools for entrepreneurial success, including:
Training: 12 weeks of intensive training on setting-up and managing businesses
Mentoring: A mentor will guide successful applicants in creating a robust business plan
Seed Capital: $5,000 in non-returnable seed capital and access to a $5,000 convertible
All entrepreneurs who successfully complete the 12-week Start-up Enterprise Toolkit (learning) programme, submit a business plan for review, as well as required documentation and a business bank account will qualify for the first stage non-refundable seed capital of $5,000.Funding Options of the Tony Elumelu Entrepreneurship Programme (TEEP)
All start-ups who successfully complete the programme will be eligible for funding.
There are two stages of funding available to start-ups:
First stage seed capital funding of $5,000 – a non-returnable investment dispersed at the 12-week start-up enterprise toolkit (learning) programme, upon submission and review of a business plan. Please see Terms and Conditions for clarification.
Second stage capital ‘investment’ of $5,000 – for qualifying startups that have progressed their business plans sufficiently. This is structured as a convertible loan.
1,000 entrepreneurs will be selected based on the viability of their idea,
The application portal is open and accepting submissions until March 1.
TEEP is open to: Startups and Entrepreneurs from all the 54 African Countries – for Africans based in Africa.