The Tony Elumelu Foundation has said it is now accepting applications from African entrepreneurs with business ideas that can transform the continent.
The application portal is open and accepting submissions until midnight on March 1, 2017, TEF said in a statement on Sunday.
According to the statement, successful applicants will join the third cycle of the TEF Entrepreneurship Programme, which is the foundation’s 10-year, $100m commitment to train, mentor and fund 10,000 African entrepreneurs from every country on the continent. 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; mentoring, where a mentor will guide successful applicants in creating a robust business plan; and $5,000 in non-returnable seed capital and access to $5,000 convertible loan.
The Founder TEF, Mr. Tony 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. 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.”
According to the statement, 1,000 entrepreneurs will be selected based on the viability of their ideas, including market opportunity, financial understanding, scalability, and leadership and entrepreneurial skills demonstrated in the applications.
Click Here to Start Application