The Tony Elumelu Foundation (TEF), which is Africa’s leading philanthropy supporting entrepreneurship on the continent has recently announced it begins accepting applications to the 4th cycle of its flagship entrepreneurship programme, from outstanding African entrepreneurs with start-ups or business ideas for high growth potential.
The application portal opens midnight (WAT) 1st January, 2018 and will close on midnight (WAT) of 1st March, 2018.
Mr Tony Elumelu – proponent of Africapitalism – whose vision propels this initiative, has committed a whopping $100 million yearly simply to identify, train, mentor and fund 10,000 African entrepreneurs in 10 years; creating 1,000,000 jobs and $10 billion in social and economic wealth.
According to the Tony Elumelu Foundation, the Programme after its third cycle, “Received 158,000 applications from African entrepreneurs in 107 countries, including every nation of Africa. Empowered nearly 3,000 businesses with 12-weeks of online training; world-class mentoring; access to TEF’s network of start-ups; and seed capital of $5,000*
The Foundation further declared that it invested a total of $14,235,000, including $4,270,500 in agriculture; $1,285,000 in ICT, $1,245,000 in education and training; and $7,400,000 more in start-ups across 19 other sectors.
For you entrepreneurs hoping to be part of the 2018 cohort, the Programme is open to citizens and legal residents of all African countries with businesses based in Africa, of less than three years old, including new startups. Find out the lucky entrepreneurs who made it to 2017 class int this previous publication.
“As an entrepreneur myself, I understand what it feels like to yearn for a lifeline, to hope for a ‘big break. In turn, I have set out to institutionalise luck with the Foundation and give back to the continent of Africa. I am pleased the Programme is already unleashing Africa’s entrepreneurs and driving economic transformation,” said TEF Founder, Tony O. Elumelu, CON.
About The Tony Elumelu Foundation
Established in 2010, The Tony Elumelu Foundation (TEF) is the leading philanthropy in Africa championing entrepreneurship and entrepreneurs across the continent. The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent. The Foundation’s flagship initiative, the TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train mentor and fund 10,000 entrepreneurs, capable of changing the face of business across Africa.
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