Tony Elumelu Foundation Entrepreneurship Program, 2024

The Tony Elumelu Foundation Entrepreneurship Program is now accepting applications for its 2024 Cycle. This foundation program is a long-term commitment to empowering African entrepreneurs and supporting the growth of sustainable businesses on the continent. With a goal of identifying, training, mentoring, and funding 10,000 African entrepreneurs over the course of 10 years, the program aims to create at least 1,000,000 new jobs and generate at least $10 billion in new business revenue across Africa.

The Tony Elumelu Foundation is deeply committed to supporting the development of a thriving entrepreneurial ecosystem in Africa. By providing access to funding, mentorship, and training, the foundation is working to help African entrepreneurs realize their full potential and make a positive impact on their communities and economies. The Entrepreneurship Program is just one part of the foundation’s efforts to support and empower African entrepreneurs, and we are excited to see the incredible impact that this year’s cohort will have on the continent.

If you are an aspiring entrepreneur with a great business idea and a passion for driving positive change in Africa, we encourage you to apply for the Tony Elumelu Foundation Entrepreneurship Program. This is a rare opportunity to receive support and resources to help turn your vision into a reality, and we look forward to seeing the exciting and innovative businesses that will be created through this program.

Program Details

• Area: Entrepreneurship.
• Number of awards: 10,000 entrepreneurs over a period of 10 years will be selected.
• Duration: Not specified.
• Target group: The program is open to citizens and legal residents of the 54 African countries.

Tony Elumelu Foundation Entrepreneurship Program Benefits

The Tony Elumelu Entrepreneurship Program worth $100 million for 10,000 African entrepreneurs.

• Training: the training has been tailored to educate and capacitise you in starting or growing your business to overcome the challenges faced by entrepreneurs across the African continent. The curriculum focuses on practical, iterative learning that is useful even long after the training period.
• Mentoring: A mentor will guide successful applicants in creating a robust business plan.
• Funding: The program provides two-stage funding to entrepreneurs
  • First stage: a non-refundable capital of $ 5,000.
  • Second stage: a returnable investment provided to entrepreneurs based on business viability upon application.

Tony Elumelu Foundation Entrepreneurship Program Eligibility

To apply, the entrepreneur must have a business or entrepreneurship project

1. based in Africa
2. for profit
3. which creation time is between 0 and 3 years
4. be at least 18 years old and be an African citizen or legal resident of an African country

The Entrepreneurship Programme identifies outstanding African entrepreneurs who have start-ups or business ideas with the potential to grow. The TEF Entrepreneurship Programme will be delivered in different phases as listed below:

• Application Phase
• Training & Mentorship Phase
• Business Plan Submission Phase
• Pitching Phase
• Seed Capital Phase

Other opportunities

1. Top 12 scholarships to study in Canada;
2. Top 10 Government Scholarships;
3. Top Scholarships to Study in France.

How to Apply for the Tony Elumelu Foundation Entrepreneurship Program

To apply for this entrepreneurship Program in Africa, please click on the apply button below to create an account and follow the given instructions to submit their application. Once applications are closed, eligible applicants will be placed in the appropriate training path as follows:

Preparatory

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.

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.

Innovator/Intermediate

This means that you have been profiled as an intermediate entrepreneur. You have 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 a 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 deadline to submit your application for this program is March 1, 2024. For more details on the Tony Elumelu Foundation Entrepreneurship Program, please visit the official page. To be the first to see latest opportunities, please follow us on Facebook, Twitter, Pinterest and Instagram.