The Tony Elumelu Foundation (TEF) is committing US$100 million over 10 years to identify, train, mentor, and fund 10,000 African entrepreneurs by 2025.
Applications are now open for the 2025 Tony Elumelu Foundation BeGreen Africa Entrepreneurship Program.
Successful applicants will receive 12 weeks of intensive online training, access to a world-class mentor, and $5,000 in seed capital to validate the concept, as well as future funding opportunities. They will have access to the TEF network of startups.
The Tony Elumelu Foundation Entrepreneurship Programme is a $100 million commitment made by the Elumelu family to empower 10,000 African entrepreneurs over a 10-year period through training, mentorship, and financial support.
The goal is to create at least 1 million jobs and contribute over $ 10 billion in revenue to the African economy.
Through its flagship Entrepreneurship Program, the Foundation empowers African entrepreneurs and the entrepreneurship ecosystem across 54 African countries.
Eligibility
- The Programme is open to all residents of the Selected Countries (as outlined) who’re aged 18 years and above. The submitted age of all Applicants have to be supported with authorities permitted technique of identification.
- All Applications have to be for a Green Business Idea or a Business that have to be for revenue, centered on one enterprise space solely, and have to be the unique thought of the Applicant.
- The Business or Business Idea should not be for an unlawful or unethical function.
The Programme is made up of the next levels all of which type the Programme cycle:
Verification & Onboarding
Applicants shall be verified and onboarded by the Promoter. Verification will contain the submission of required paperwork by the Applicant in an effort to allow the Promoter to establish the state of the Business or Business thought in addition to the id of the applicant.
Successful Applicants who don’t meet the verification necessities shall be faraway from the Programme and notified of removing through e-mail.
Successful candidates who meet the verification necessities shall be enrolled within the TEF Business Management Training programme.
Unsuccessful Applicants shall be directed to take the TEF General Business Training on TEFConnect and shall be eligible to reapply for different TEF Programmes.
Business Plan Preparation & Submission
Programme Participants who’ve accomplished the TEF Business Management Training Programme will obtain a marketing strategy template to develop a marketing strategy doc for overview and evaluation.
This overview and evaluation shall be primarily based on related metrics together with feasibility and sustainability. Programme Participants should submit their Business Plans by the required deadline to be eligible for consideration for the following stage of the programme.
The prime scoring Programme Participants from this stage shall be notified through e-mail and can proceed to the Pitching Competition stage.
Any Programme Participant who doesn’t full this stage of the Programme inside the prescribed timeline or isn’t profitable at this stage shall be faraway from the Programme and notified of removing through e-mail.
Pitching Competition
Top scoring Programme Participants shortlisted from the marketing strategy stage will take part within the Pitching Competition the place they are going to pitch their enterprise plans to a panel of judges bodily or submit their pitch movies to the Promoter.
Top scoring Programme Participants from the Pitching Competition shall be chosen primarily based on predetermined choice standards and shall be eligible to obtain the Seed Capital.
Programme Participants who usually are not chosen from the Pitching Competition to obtain the Seed Capital shall be notified through e-mail and shall be categorised as TEF Trainees.
Any Programme Participant who doesn’t full this stage of the Programme shall be faraway from the Programme and notified of removing through e-mail.
Seed Capital
The Selected Entrepreneurs from the Pitching Competition shall be notified through e-mail. Disbursement of the Seed Capital shall be made through digital switch into the Selected Entrepreneurs’ Business Bank Account. Banking and different costs could apply and shall not be borne by the Foundation.
The whole quantity obtained could due to this fact be lower than US$5,000 equal. TEF Partner funded entrepreneurs will obtain seed capital in keeping with the companion commitments and this shall be communicated in the end to Programme Participants who shall be funded by companions.
Application Deadline: 1st of March 2025
