TEF to Commence Its Fifth Entrepreneurship Programme Jan 1

Sunday Okobi

Tony Elumelu Foundation will on January 1, 2019, open its fifth entrepreneurship programme application cycle.

The organisation said applications would be hosted on the largest digital networking platform for African entrepreneurs, TEFConnect - www.tefconnect.com.

“On January 1, 2019, at 12a.m, the Tony Elumelu Foundation will begin accepting applications for the fifth cycle of its entrepreneurship programme. 1,000 selected applicants will join the current 4,470 beneficiaries of the programme.

“Since 2015, the TEF Entrepreneurship Programme-the only African-funded entrepreneurial catalyst of its kind-has empowered 4,470 African entrepreneurs with seed capital of $5,000 each; twelve weeks of accelerated online business training; access to experienced mentors; and membership of Africa’s largest entrepreneurial ecosystem,” the Foundation said.

It further stated that beneficiaries of the programme have been profiled in global media, including the Forbes Africa Under 30 list. They have attracted the attention of investors as well as have been recipients of awards, including the Google Impact Challenge and the Chivas’ ‘The Venture’ Award for Social Entrepreneurs.

 

The entrepreneurship programme, TEF noted, had facilitated exchanges between African entrepreneurs and local and global public sector leaders; investors and development partners, raising their business profiles, scaling their opportunities, showcasing their innovation and identifying ways to further strengthen the business environment in Africa.

According to the Foundation, “In June 2018, TEF convened a forum with President Emmanuel Macron of France and young African entrepreneurs. In October 2018, the Foundation was proud to have President Nana Akufo-Addo of Ghana and President Uhuru Kenyatta of Kenya address the gathering of young African entrepreneurs at the TEF Entrepreneurship Forum.

“The Foundation’s investment, impact and commitment to advancing entrepreneurship is predicated on the belief that Africa’s entrepreneurs hold the key to unlocking the potential of the continent and facilitating the transformation of Africa.  With this objective, the Foundation launched the TEF Entrepreneurship Programme; its US$100 million flagship programme to identify over a period of 10 years; 10,000 African startups and entrepreneurs with ideas that have the potential to transform the African continent. Its goal is to invest in businesses that together can generate at least one million new jobs and contribute at least $10 billion in new annual revenues across Africa.”

It added that the TEF entrepreneurship programme is open to citizens and legal residents of all African countries, who run businesses based in Africa that are less than three years old. Business ideas that are yet to launch are also encouraged.