Tony Elumelu Entrepreneurship Programme Portal Opens

Budding entrepreneurs across Africa can now apply to join the second annual Tony Elumelu Entrepreneurship Programme (TEEP) for start-up businesses based in Africa.

The Tony Elumelu Entrepreneurship Programme application portal opened for entries on January 1, and will accept applications until Midnight West African Time (WAT) on March 1, 2016. To apply, entrepreneurs must complete the online application form on the web portal, a release noted.

Successful applicants who complete the programme will receive the local currency equivalent of US$5000 as non-returnable seed capital, and are eligible for a further US$5000 in the form of either debt or equity, depending on business need and other criteria.

Selected entrepreneurs, the release noted, will join the existing cohort of 1,000 Tony Elumelu Entrepreneurs, from 51 countries, who formed the inaugural 2015 cycle of the programme and have thus far, received considerable benefits from their participation.

These included:
– training: 12 weeks of training on how to set up and manage businesses with mentoring and financial support offered by The Tony Elumelu Foundation;
– accelerated growth; and
– access to further funding, and networking opportunities, where flourishing alumni network has developed, providing personal linkages and business opportunities across the continent.

Founder, serial entrepreneur and philanthropist Tony O. Elumelu said: “I believe in empowerment that can change the face of Africa as we know it. African entrepreneurs are our future leaders and I am passionate about giving them the opportunity to succeed.

“The TEEP is a major, deliberate effort to institutionalize and provide seed capital funding, mentoring, business training, pan-African networking and springboard that our aspiring entrepreneurs need to leap from. We encourage women and men with business ideas from all sectors, from every region, city, town and village across Africa, to apply. This is your programme and if you can demonstrate your passion and commitment, then this wonderful opportunity to become a Tony Elumelu Entrepreneur could be yours for the taking” added the CEO of the the Tony Elumelu Foundation.

The Tony Elumelu Entrepreneurship Programme is open to citizens and legal residents of all 54 African countries. Applications for 2016 open on 1 January and can be made by any for-profit business based in Africa, including new business ideas which have been in existence for less than 3 years. The programme is a commitment to identify and fund 10,000 African entrepreneurs over a 10-year period.