The Tony Elumelu Foundation (TEF), is now accepting applications for the Tony Elumelu Entrepreneurship Programme (TEEP) ($100m Pan-African entrepreneurship initiative) for Young African Entrepreneurs with business ideas that can transform Africa.
WORTH
- 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.
- Seed Capital: $5,000 in non-returnable seed capital and access to a $5,000 convertible loan.
- First stage seed capital funding of $5,000 – a non-returnable investment dispersed at the 12-week start-up enterprise toolkit (learning) programme, upon submission and review of a business plan. Please see Terms and Conditions for clarification.
- Second stage capital ‘investment’ of $5,000 – for qualifying startups that have progressed their business plans sufficiently. This is structured as a convertible loan.
ELIGIBILITY
- Market Opportunity: knowledge and understanding of the market, customers and competitors for their idea/business.
- Financial Understanding: understanding of the basic financial requirements of running a business, costs and revenues.
- Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
- Leadership Potential and Entrepreneurial Skills: Demonstrate leadership potential, capable of attracting people, customers, and resources.
- 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.
DEADLINE: March 1 2022
To apply and for more information visit here
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