Apply for Tony Elumelu Entrepreneurship Program: Tony Elumelu Entrepreneurship program is a youth and monetary empowerment program for Africans founded Tony Elumelu. Since its establishment, the Program has assisted thousands (and still counting) of entrepreneurs and created masses of jobs throughout the continent. The successful candidates are trained and mentored in diverse business areas and ideas.
Indeed, you stand to gain so much from this program!
How To Apply for Tony Elumelu Entrepreneurship Program
To apply for the Tony Elumelu foundation program,
- Visit the application portal once it is open.
- Click on the “Sign up” to create an account, then sign in.
- Fill the application form and submit.
- Then follow any other instructions you will be given.
When To Apply for Tony Elumelu Entrepreneurship Program?
The Tony Elumelu Entrepreneurship program application portal opens every January 1st of the year. The application runs until about March of that year. It is the first grant for African always to remember.
So, you can now use this moment and prepare your application. Apply & complete the online application TEEP.
Tony Elumelu Entrepreneurship Program Eligibility Requirements
To apply for this program, you must meet up the following eligibility requirements. They include:
- Business must be based in Africa
- Business must be for profit
- Also, business must be 0-3 years’ old
- Applicants must be at least 19 and a legal resident or citizen of an African country
Successful applicants will join the cycle of the TEF Entrepreneurship Program, TEF’s 10-year, $100 million commitment to train, mentor and fund 10,000 African entrepreneurs in every African country.
How It Work
All successfully selected entrepreneurs who successfully complete the 12-week Start-up Enterprise Toolkit (learning) program, submit a business plan for review, as well as required documentation and a business bank account will qualify for the first stage non-refundable seed capital of $5,000.
Funding Options of the Tony Elumelu Entrepreneurship Program (TEEP)
All start-ups who successfully complete the program will be eligible for funding.
There are two stages of funding available to start-ups:
- First stage seed capital funding of $5,000 – a non-returnable investment dispersed at the 12-week start-up enterprise toolkit (learning) program, 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.
Judging Criteria Tony Elumelu Entrepreneurship Program
All applications will be judged on 5 core criteria, which are:
- Feasibility of the business idea.
- 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.
Benefits Of Tony Elumelu Foundation Entrepreneurship Program
What are the benefits you can get by applying for this program? There are lots of them. They include
- Funding for your business
- Mentorship on your business.
- You also have networking opportunities from other participants all over Africa. etc.
So, why wait to Apply Tony Elumelu Entrepreneurship Program? Good luck!