The application call for the Tony Elumelu Foundation Entrepreneurship Program is now open. The Foundation which is committed to empowering African entrepreneurs, is now accepting applications for the 6th Cycle of the $100m Entrepreneurship Program.
The 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.
To address the unique challenges arising from the pandemic, the Foundation’s Entrepreneurship Program will empower 1,000 young African entrepreneurs, selected from the 2020 cohort. The Foundation will also open applications to an additional 2,400 young entrepreneurs in 2021, in collaboration with global partners.
- Area: Entrepreneurship.
- Number of awards: 10,000 entrepreneurs over a period of 10 years will be selected.
- Duration: 12 weeks.
- 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: 12 weeks of intensive training on setting-up and managing businesses.
- Mentoring: A mentor will guide successful applicants in creating a robust business plan.
- Funding:The program provides two stage of funding to entrepreneurs
- First stage: a non-refundable capital of $ 5,000.
- Second stage: a returnable investment provided to entrepreneurs basing on business viability upon application.
Tony Elumelu Foundation Entrepreneurship Program Eligibility
To apply, the entrepreneur must have a business or entrepreneurship project
- based in Africa
- for profit
- which creation time is between 0 and 3 years
- be at least 19 years old and be an African citizen or legal resident of an African country
Selection will be done basing on considerations below:
- Feasibility of the business idea.
- Market Opportunity: knowledge and understanding of the market, customers and competitors for their idea/business.
- Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
- Financial Understanding: understanding of the basic financial requirements of running a business, costs and revenues.
- Leadership Potential and Entrepreneurial Skills: Demonstrate leadership potential, capable of attracting people, customers and resources.
To apply for this entrepreneurship Program in Africa, please click on the apply button below and fill out the form.
The deadline to submit your application for this program is . For more detail 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 and Pinterest.