In a bid to catalyze economic recovery for small and medium-scale enterprises (SMEs) and aspiring young entrepreneurs across Africa, the Tony Elumelu Foundation (TEF) has announced the launch of the Tony Elumelu Foundation Entrepreneurship Programme (TEEP) for the year 2024. Celebrating a decade of impactful contributions, the Foundation is committed to empowering the next generation of African business leaders, especially in the wake of challenges posed by the Covid-19 pandemic.
The TEEP 2024 is designed to provide successful applicants with a comprehensive package that includes world-class business training, mentorship from industry experts, and a non-refundable seed capital of up to $5,000. Additionally, participants will have unparalleled opportunities for global networking, further enhancing their entrepreneurial journey.
Application Phase:
Prospective entrepreneurs from any African country are invited to apply for the programme, with the application window open from January 1 to March 31. The eligibility criteria focus on individuals with start-ups or business ideas demonstrating significant growth potential.
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Programme Phases:
The TEEP 2024 will unfold in several phases, including the Application Phase, Training & Mentorship Phase, Business Plan Submission Phase, Pitching Phase, and Seed Capital Phase.
Training and Mentorship Phase:
Shortlisted applicants will undergo intensive business training and mentoring sessions tailored to their skill levels. The training curriculum, emphasizing practical and ongoing learning, aims to equip entrepreneurs to address unique challenges faced across the African business landscape.
Business Plan Submission Phase:
After completing the training, entrepreneurs will consolidate their learnings into a comprehensive business and financial plan. Only successful candidates who meet specific criteria will advance to the next stage—the Pitching Competition.
Pitching Phase:
This critical phase allows entrepreneurs to showcase their business acumen to a panel of judges. Successful participants not only secure seed capital funding but also gain access to the coveted Alumni network, supporting their ongoing business goals. Even those who do not succeed in the pitching stage will receive a training completion certificate and are encouraged to reapply in the future.
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Seed Capital Phase:
Entrepreneurs who successfully navigate all preceding stages will be required to open business accounts to receive the seed capital. Alongside the funding, recipients will also be awarded a Certificate of Completion and Achievement from the Tony Elumelu Foundation.
For those ready to embark on or elevate their entrepreneurial journey, the application link is available here. Don’t miss the chance to be part of this transformative programme that has been a beacon of support for African entrepreneurs over the past decade. Apply now and take a step towards shaping the future of African business innovation.
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