SAN FRANCISCO, January 01, (THEWILL) – The Tony Elumelu Foundation (TEF), is now accepting applications from African entrepreneurs, with business ideas that can transform Africa, for the third cycle of its entrepreneurship programme which has been described as Africa’s largest business incubator.
According to a press release, the application portal is open and accepting submissions until Midnight WAT on March 1, 2017. To apply, applicants are urged to complete the online application at:www.tonyelumelufoundation.org/programme.
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 as the Programme provides critical tools for entrepreneurial success, including 12 weeks of intensive training on setting-up and managing businesses, mentoring successful applicants in creating a robust business plan and a seed capital of $5,000 (non-returnable) with access to a $5,000 convertible loan.
According to TEF Founder, Tony O. Elumelu, the Programme is a deliberate effort to institutionalise luck and provide the essentials for business growth to Africa’s next generation of business leaders.
“It is a demonstration of my faith in this generation’s ability to transform the African narrative, from the single story of disease and poverty, to one of enterprise and opportunity,” he said.
“Spread the word; we need Africa’s best and brightest entrepreneurs. Their ideas will transform Africa.”
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.
To be eligible business must be based in Africa, business must be for profit, business must be 0-3 years’ old and applicants must be at least 18 and a legal resident or citizen of an African country.
Story by Oputah David
