Tony Elumelu Entrepreneurship Program’s new cycle is now open

The Tony Elumelu Foundation (TEF) announced the opening of applications for the new cycle of its entrepreneurship program; which is a 12-month program that occurs every year and aims to create 10,000 startups that generate significant employment and wealth across Africa within the next 10 years. Deadline for applications is on the 1st of March.

The Tony Elumelu Entrepreneurship Program (TEEP) has three different stages. The first stage starts by selecting the 1000 best applicants and provide them with online mentoring and training, while giving them access to a huge selection of online business resources. The second stage is the boot-camp, which takes place in July, and it is considered a good opportunity for entrepreneurs to learn, engage, and interact with other startups, mentors, investors, and stakeholders in the ecosystem. Also, startups will receive up to $5000 as seed capital investment at the end of the boot-camp. The last stage starts from August until December, where startups will work with their mentors and all the online resources to complete their business plans. TEEP certified startups will be in a good position to attract investors.

The program is open to startups with strong market feasibility, clear financial models, run by capable teams, and specialized in these sectors: agriculture, ICT, housing, media, education, transportation, textiles, and manufacturing. All African startups can apply here.

The annual TEF Entrepreneurship Program commits $100 million to training, mentoring and funding of 10,000 African entrepreneurs is the largest business plan competition on the continent, which generates businesses with potential to contribute about $10 billion to stimulate the African economy. The TEF was established in 2010 to encourage and empower entrepreneurs, promote thought leadership and create an integrated entrepreneurial ecosystem that drives African entrepreneurship.