A total of 10,000 aspiring African Entrepreneurs are set to benefit from the Tony Elumelu Foundation Entrepreneurship Programme – TEEP – from $100 million grant to create 1,000,000 jobs and contribute $10 billion in annual revenues to Africa’s economy over the next 10 years.
Opportunity is open to: All citizens (18 and above) and legal residents of all African countries with businesses that operate in Africa.
About Entrepreneurship Programme
African billionaire investor and philanthropist Tony Elumelu has committed $100 million to create 10,000 entrepreneurs across Africa over the next 10 years. Elumelu made the commitment on Monday during a press conference in Lagos to announce the launch of The Tony Elumelu Foundation Entrepreneurship Programme (TEEP).
TEEP, a Pan-African entrepreneurship initiative of the Tony Elumelu Foundation, is a multi-year programme of training, funding, and mentoring, designed to empower the next generation of African entrepreneurs.
Programme Type: Funding for African Entrepreneurs
Number of Entrepreneurs: There are 1,000 positions available annually for 10 Value of Programme:
The 10,000 start-ups selected from a pool of applicants across Africa will participate in a comprehensive programme which will include;
- A customized 12-week business skills training course
- Start-Up Enterprise Toolkit
- Mentoring
- Resource Library
- 2-Day Boot Camp
- Seed Capital Funding
- Elumelu Forum
- Alumni Network
Duration of Programme: The programme will identify and help grow 10,000 start-ups and young businesses from across Africa over the next 10 years. These businesses will in turn create 1,000,000 new jobs and contribute $10 billion in annual revenues to Africa’s economy.
Eligible Countries: Africa
Application Period: Interested entrepreneurs will be able to submit their applications to join the programme as from 1st January 2016 to 1st March 2016
Offered annually? For a period of 10 years
All applications must be submitted online through the TEEP Portal. Answer a series of mandatory questions and upload additional documents and identification materials. You will receive a confirmation email within 1 working day of submission.
More details about the program, including eligibility and the application and selection processes are available on the Tony Elumelu Foundation website at: www.tonyelumelufoundation.org/TEEP.
Sponsors: Tony Elumelu Foundation
Additional note:
- In 2015, TEEP empowered 1,000 African entrepreneurs, selected from over 20,000 applicants, with start-up investment, active mentoring, business training, an entrepreneurship boot camp and regional networking across Africa.
- Entrepreneurs, with an average age range of 21-40, from 51 African countries completed the programme and received $5,000 in seed capital for their start-up businesses.
- The Tony Elumelu Foundation invested a total of $4,860,000, including $1,405,000 in agriculture; $410,000 in education and training; and $365,000 in manufacturing. The sector-agnostic programme funded start-ups across a further 20 industries, all based in Africa.
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