Tony Elumelu Entrepreneurship Programme (TEEP) 2017 for Young African Entrepreneurs ($USD 10,000 in Funding)

Application Deadline: March 1st 2017

  • Open: To startups and Entrepreneurs from all the 54 African Countries – For Africans based in Africans
  • Worth: $100M for 10,000 Startups/Entrepreneurs

The Tony Elumelu Foundation (TEF), is now accepting applications for the 2017 Tony Elumelu Entrepreneurship Programme (TEEP) ($100m Pan-African entrepreneurship initiative ) for for Young African Entrepreneurs with business ideas that can transform Africa.

Successful applicants will join the third cycle of the TEF Entrepreneurship Programme, TEF’s 10-year, $100 million commitment to train, mentor and fund 10,000 African entrepreneurs in every African country. Since inception in 2015, the Programme has assisted nearly 2,000 entrepreneurs and created hundreds of jobs across the continent.

Eligibility Requirements:

To be eligible:

  1. Business must be based in Africa
  2. Business must be for profit
  3. Business must be 0-3 years’ old
  4. Applicants must be at least 18 and a legal resident or citizen of an African country

Benefits

The Programme provides critical tools for entrepreneurial success, including:

  • Training:12 weeks of intensive training on setting-up and managing businesses
  • Mentoring:A mentor will guide successful applicants in creating a robust business plan
  • Seed Capital:$5,000 in non-returnable seed capital and access to a $5,000 convertible loan

Funding:

All entrepreneurs who successfully complete the 12-week Start-up Enterprise Toolkit (learning) programme, submit a business plan for review, as well as required documentation and a business bank account will qualify for the first stage non-refundable seed capital of $5,000.

Funding Options:

All start-ups who successfully complete the programme will be eligible for funding. There are two stages of funding available to start-ups:

  1. First stage seed capital funding of $5,000 – a non-returnable investment dispersed at the 12-week start-up enterprise toolkit (learning) programme, upon submission and review of a business plan.  Please see Terms and Conditions for clarification.
  2. Second stage capital ‘investment’ of $5,000 – for qualifying startups that have progressed their business plans sufficiently.  This is structured as a convertible loan.

Judging Criteria:

All applications will be judged on 5 core criteria, which are:

  1. Feasibility of the business idea.
  2. Market Opportunity: knowledge and understanding of the market, customers and competitors for their idea/business.
  3. Financial Understanding: understanding of the basic financial requirements of running a business, costs and revenues.
  4. Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
  5. Leadership Potential and Entrepreneurial Skills: Demonstrate leadership potential, capable of attracting people, customers and resources.

1,000 entrepreneurs will be selected based on the viability of their idea, including: market opportunity; financial understanding; scalability; and leadership and entrepreneurial skills demonstrated in the application.

Apply Now for the 2017 Tony Elumelu Entrepreneurship Programme (TEEP)

For More Information:

Visit the Official Webpage of the Tony Elumelu Entrepreneurship Programme (TEEP) 2017

23 COMMENTS

  1. Thank you Tonny and your team for such an innovation in, for and by AFRICA!!! Finally AFRICA has a brain behind a movement for her entrepreneurial exodus. My dear friends and colleagues benefiting and/or planning to benefit from this kick-off, please work harder to ensure Tonny Elumelu face shines in the development of AFRICA , our motherland!

  2. This is a great opportunity for Africans and I would be happy to be part of the applicants to help change Africa.
    The most valuable asset God gave us is the Brain to think.

  3. It sounds too good to be true and yet it is the naked truth! Of a truth, the average African has a creative mind that needs to be explored. I cant just wait to see the manifestation of the posive ripple effect this gesture of TEF would have on the economic fortune of our continent! A very very very….big THANK YOU to TEF for your mission of economic redemption and its associated liberation from mental ineptitude.

  4. Am really happy and joy over-filled seing all this actualizing as a big truth. Its a naked Truth indeed. God bless you Mr Tony Eumelu. Life actually follows a principle, the more you give , the more you receive. You shall continue to receive for the rest of your life.Amen. thanks so much

  5. Mr. Tony Elumelu, Thanks. I believe this is a good vision and great opportunity for young entrepreneurs like me though, and I believe we have some similar vision, I as a starter and lifter and you as a lifter and father. May you reap the fruit of your heart in Jesus Name.

  6. Though I get . The information very late so I couldn’t apply but still it’s a wonderful opportunity for African youth’s may the almighty God bless TONY for the sake of the entire African youth’s in JESUS name I pray ameeeen

  7. As Africans we have to make innovation and Entreprenuership a strategic priority from the stand point of a worldview for our own people to invent, innovate in order to liberate ourselves from the oppressive dominance of globalisation of other continents like Europe, Asia etc, and as a means to solve our own problems and challenges using Appropriate Technology Approach with our own natural resources.
    With this program, guys am convienced 100% it will achieve my vision as i have put it across.

    Mr Tony Elumule i salute you,

    Thank for such an initiative

  8. I found extremely difficult to register. Same thing happened last year 2016, please the authority in charge of registration should please make it easier for registration especially to those of us who are not masters computer system. I really want to register as fast as possible. Thank you.

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