Africa Wide

Program

Entrepreneurship

The Tony Elumelu Foundation - TEF Entrepreneurship Program Movemeback African initiative cover image

Details

The Tony Elumelu Entrepreneurship Program is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs. The Program's objective is to generate at least 1,000,000 new jobs and create at least $10 billion in new business revenue across Africa. Now in its 5th year, the TEF Entrepreneurship Program has empowered 4,460 entrepreneurs, using a bespoke and robust selection, training and implementation process to create visible and sustainable impact across all 54 African countries.

The Program accepts 1,000 entrepreneurs each year and takes them through a 12-week course where they are given access to $5,000 in seed capital; business development training; one-on-one mentoring; access to TEFConnect; pan-African meetups; TEF network membership; and participation at the annual TEF Entrepreneurship Forum, the largest convening of the African entrepreneurship ecosystem.

Selection of the applicants will take place from the close of the application process on March 1st and all applications will be judged on:

  • Feasibility of the business idea;
  • Knowledge and understanding of the market, customers and competitors for idea/business;
  • Understanding of the basic financial requirements of running a business, costs and revenues;
  • Scalability and potential for replication and growth of product or service to create jobs and wealth;
  • Leadership potential and entrepreneurial skills capable of attracting people, customers and resources.

Criteria

  • Applicants must be citizens or legal residents of an African country
  • The business or business idea must not be more than 3 years old
  • The business or business idea must be based in Africa

Benefits

  • Access to a 12-week programme to equip you with basic skills required to launch and run your business including starting and scaling a business, business development, marketing strategy, effective management, product design etc.
  • Access to world-class mentors
  • $5,000 in seed funding
  • Access to one of the largest networks of successful African entrepreneurs

About The Tony Elumelu Foundation

The Tony Elumelu Foundation is a non-profit organization founded in 2010 by Tony O. Elumelu, an entrepreneur, investor and philanthrophist who is passionate about Africa's economic development. The Foundation is headquartered in Lagos, Nigeria and is centered around Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.

In 2015, the Foundation consolidated its various programs and initiatives and made investing in Africa’s next generation of entrepreneurs and business leaders a priority. The future of the Tony Elumelu Foundation centers on the provision of structured, robust, and multifaceted support to entrepreneurs around Africa through the Tony Elumelu Foundation Entrepreneurship Program.

The vision for the Foundation is to unlock the obstacles that Africa’s entrepreneurs face as they grow their start-ups into small to medium enterprises (SMEs), their SMEs into national growth companies, and their national growth companies into African multinationals.