The portal for Tony Elumelu Entrepreneurship Foundation Programme (TEFEP) is now opened for the 5th consecutive year to accept applications from African entrepreneurs, who are willing to win $5,000 grant to start or expand their business.
Launched in 2015, The Tony Elumelu Entrepreneurship Programme has become the largest African philanthropy advocating for entrepreneurship and entrepreneurs with the mandate to invest $100 million in 10,000 African entrepreneurs over a period of 10 years, while contributing immensely to training and mentoring of entrepreneur across the continent.
Who can apply?
• Applicants must be at least 18 of age and a legal resident or citizen of an African country
• The business must be based in Africa
• The business must be for profit
• The business must be 0-3 years old
After Selection Tony Elumelu Foundation provides critical tools for business success, including:
• Training: 12 weeks of intensive online training which guides creating and managing a business
• Mentoring: A world-class mentor to guide during the early transformation stages of the business
• Funding: $5,000 in seed capital to prove the concept, plus access to further funding
• Network: Access to the largest network of African start-ups and TEF’s own global contacts.
How do I apply for the grant?
All Applications must be submitted ONLINE through the APPLICATION PORTAL. 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.
Tony Elumelu Grant Selection Process
Selection of the applicants will take place from the close of the Application on March 1st, by the Tony Elumelu Foundation and an independent Selection Committee appointed by the Foundation, against the specified selection criteria.
Criteria for selection
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 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.
The application portal is open and accepting submissions until March 1, 2019