Organisation : Tony Elumelu Foundation
Service Name : Apply For TEF Entrepreneurship Programme 2020
Applicable For : Entrepreneurs From Across Africa
Application Last Date : 1st March 2020
Website : https://www.tonyelumelufoundation.org/press-releases/tony-elumelu-foundation-to-open-applications-for-the-2020-tef-entrepreneurship-programme-on-january-1-2020
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Tony Elumelu Foundation Application
The Tony Elumelu Foundation (TEF) — an African private-sector-led philanthropy dedicated to empowering African entrepreneurs — will begin accepting applications for the 2020 cohort of the TEF Entrepreneurship Programme, on January 1, 2020.
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The TEF Entrepreneurship Programme is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than 3 years existence, operating in any sector.
How To Apply?
Applications are made through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation.
Apply Here : https://tefconnect.com/
Successful applicants will join the over 9,000 current beneficiaries, from 54 African countries, and receive business training, mentoring, a non-refundable $5,000 of seed capital and global networking opportunities.
Last year, the Foundation received about 216,000 applications, with 42% coming from women entrepreneurs, from every country on the continent.
The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 young African entrepreneurs. The goal is to create millions of jobs and the revenue required for the sustainable development of the continent, implementing the philosophy of Africapitalism, which positions the private sector as the growth engine for Africa and emphasises the importance of creating social and economic wealth.
According to the Foundation’s 2018 Impact Report, 70% of the total number of businesses in its alumni network were still operational two years after benefitting from the Programme. The report also identified an increase of 189% revenue generated and 197% increase in the number of additional jobs created by beneficiaries post-graduation from the Programme, as well as a 100% commitment to the Sustainable Development Goals.
Selection of the applicants will take place from the close of the Application, by the Tony Elumelu Foundation and an independent Selection Committee appointed by the Foundation, against the specified selection criteria.
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.
If Applicants are offered a place in the Programme, Applicants will be expected to:
** Complete a self-declaration form,
** Provide proof of valid ID,
** Provide a personal bank statement from the past 6 months,
** Provide a statement of current personal debts.
** Provide a reference from an employer, bank and/or academic institutions;
** Provide business bank account details (For UBA present countries, it must be a UBA account)