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Saturday, February 4, 2023

APPLY: 2023 Tony Elumelu Foundation (TEF) Entrepreneurship Programme for Young Africans

The Tony Elumelu Foundation (TEF) Entrepreneurship Programme for young Africans is to empower women and men across our continent, catalyzing economic growth, driving poverty eradication, and ensuring job creation.

We believe the private sector’s role is critical for Africa’s development and that the private sector must create both social and economic wealth.

The Tony Elumelu Foundation is the leading champion of entrepreneurship in Africa.

More scholarship opportunities are ongoing in countries across Europe, the United States and Canada. Check out some selected opportunities below:

  • Host: Tony Elumelu Foundation (TEF)
  • Category: Training | Fellowships
  • Eligible Countries: All African Countries 
  • Reward: $5,000 | Business Training
  • Deadline: March 31, 2023
  • Scholarship Alerts: To receive Scholarship Alerts on WhatsApp, Click HERE

Details:

The Tony Elumelu Foundation (TEF) was founded in 2010 by Tony O. Elumelu, CON, an entrepreneur, investor and philanthropist who is passionate about Africa’s economic development.

About Us Programme Alumni Impact Media TEF Connect TEF Forum We are an African private-sector-led philanthropy empowering African entrepreneurs. The Tony Elumelu Foundation (TEF) was founded in 2010 by Tony O. Elumelu, CON, an entrepreneur, investor and philanthropist who is passionate about Africa’s economic development. 

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Requirements:

To be considered for the program, you must meet the following:

  •  The Programme is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.
  • Applicants must be 18 years of age and above.
  • All businesses must be business ideas or an early-stage company, in the range of 0 to 5 years old.

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Duration and Reward

  • Non-refundable seed funding of $5,000
  • A world-class business training for 12 weeks
  • Access to TEF Alumni network with over 15,000 entrepreneurs across’ Africa
  • Mentoring and networking opportunities via Africa’s largest digital platform for entrepreneurs, TEFConnect.net.

Program Procedures

Selection Process

  • THE APPLICATION PHASE:This will take place from the January 1 to March 31.  Once applications are closed, eligible applicants will be placed in the appropriate training path as follows: 

(a) REPARATORY: This means you do not have the skillset needed to start a business. You will go through the general training on TEFConnect. You will, however, not be eligible for mentorship or seed capital. 

(b)START-UP/ BEGINNER:This means you are a starter according to the business start-up profiling. You will go through the beginner training modules and you will have access to world class mentors during the programme.  

  • INNOVATIOR/ INTERMEDIATE:This means that you have been profiled to be an intermediate entrepreneur. You have a good potential to be a successful entrepreneur. You will go through the Intermediate training modules and you will have access to world class mentors during the programme.  
  • DISRUPTOR/ ADVANCED:This means that you are or identified to be natural or a seasoned entrepreneur. You will go through the Advanced training modules and you will have access to world class mentors during the programme.  
  • THE TRAINING AND MENTORSHIP PHASE: Once shortlisted and placed in the appropriate training path, you will be eligible to take part in our rigorous business training and mentoring sessions. There will be multiple choice questions to track your performance. You will attend a virtual orientation program to learn more about the process and we will share timelines and resources available for you to succeed. The shortlisted entrepreneurs will be given access to join the peer-to-peer support groups. 
  • Shortlisted entrepreneurs will be expected to complete the business training, answer the quiz at each end of each module. 
  • The shortlisted applicants after the training will be given the opportunity to develop a BUSINESS PLAN  
  • THE BUSINESS PLAN AND FINANCIALS SUBMISSION PHASE: At the end of the TEEP 2023 training, you will be required to combine all the learnings from the training into a single cohesive document. You will be given a business & financial plan template; this will be in the online resource library. This template will help you create a first draft of your business plan. write a business plan. After the BUSINESS TRAINING & BUSINESS PLAN SUBMISSION, only?successful candidates (who complete the MCQs and score above cut off mark and submit a business plan) would be eligible to move on to the next stage: the PITCHING COMPETITION. 
  • THE PITCHING PHASE:This is an opportunity to demonstrate your business knowledge and convince the judge about the feasibility of your business. At the pitching stage, entrepreneurs will pitch their ideas before a panel of judges. Only the successful candidates from the pitching competition will receive seed capital funding and access to the Alumni network to support their business ambitions. If you successfully completed all required training requirements and submitted a business plan, but was unsuccessful after the pitching competition, you will receive a training completion certificate and can reapply next year.  

Please note that this phase is another key outcome of this training programme and all shortlisted entrepreneurs must go through this phase to be eligible for SEED CAPITAL. 

  • THE SEED CAPITAL PHASE: All entrepreneurs who have successfully completed all the above steps will be required to open business accounts and seed capital will flow into these accounts created. An entrepreneur who is eligible to receive seed funding will be given a CERTIFICATE OF COMPLETION AND ACHIEVEMENT from the Foundation.

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Method of Application

Interested and qualified applicants should apply using the link below.

Best Wishes 

Deadline: March 31, 2023

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