Tony Elumelu Foundation Entrepreneurship Programme 2022
The Tony Elumelu Foundation Entrepreneurship program 2022 for African entrepreneurs application has commenced and entrepreneurs are advised to apply before it comes to an end. The 2022 TEF entrepreneurship programme is available to all African entrepreneurs.
About Tony Elumelu Foundation
The TEEP (Tony Elumelu Entrepreneurship programme) is a pan-African entrepreneurial initiative of the Tony Elumelu Foundation, which is a multi-year training, funding, and mentorship program designed to empower the next generation of African entrepreneurs.It is the brainchild of Tony Elumelu, a Nigerian investor and philanthropist, who is poised to provide $100 million to create 10,000 African entrepreneurs over the next 10 years. The goal is to create 1,000,000 jobs and generate annual revenues of US $10 billion for the African economy over this period.
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Eligibility for Tony Elumelu Foundation Entrepreneurship programme
The TEF Programme is not for an academic level or qualification. The Tony Elumelu entrepreneurship programme is designed to assist young entrepreneurs around Africa to start or support their enterprise, thereby creating thousands of job opportunities in Africa.
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)
Host Country
The TEEP 2022 will be hosted in Nigeria.
Eligible Countries
The TEF Entrepreneurs Programme is available for young entrepreneurs across Africa.
Worth of Tony Elumelu Foundation Entrepreneurship Programme
TEF Entrepreneurship Programme 2022 offers a $5000 cash to successful applicants. Access to mentors and a 12-week corporate training program focused on the needs of African entrepreneurs and a forum programme.
Tips to Write a Successful Tony Elumelu Entrepreneurship Grant
- Position yourself as someone who is giving out a grant. What exactly does this Tony Elumelu Foundation want to achieve?
- Read all the information about the application and think about what they really expect from you.
- Before you start writing your application, study the terminologies used by the foundation often and use it.
- Study the organization’s website.
- Study the selection of alumni and observe the ideas of people who have previously won.
- Take a look at how they communicated their ideas and replicate the same.
- Study how they tell their stories and create your own stories.
- Tony Elumelu is looking for ideas with social impact. Be sure to communicate this at each stage of the application.
- I recently heard from a partner Mentor that most of the ideas are being selected based on their emotional Strength. You have to communicate the right feeling to the judges for you to be selected
- There is a vocabulary of winners. Study the successful winners and see how they communicate their ideas on paper.
In the voice of the Tony Elumelu Foundation CEO, there is no idea that cannot win. It all depends on your Communication.
How to Apply for Tony Elumelu Foundation Entrepreneurship Programme
All applications must be submitted online through the APPLICATION PORTAL. You must complete an application form by answering a series of mandatory questions and uploading additional documents and identification materials. After submission, you will receive a confirmation email of receipt within 1 working day.
Application Deadline
The deadline for submission of applications is 31st March 2022.
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TEF Entrepreneurship Programme 2021 FAQ
1. What if my company is a partnership?
Only one nominated person from the business or partnership is able to join the programme.
2. Can I apply offline?
No. All applications must be submitted online through the application portal.
a. How are selected applicants chosen to join the program?
Selection of the applicants will take place from the close of the Application on March 1st, by the Tony Elumelu Foundation and an independent Selection Committee appointed by the Foundation, against the specified selection criteria.
b. By what criteria are the applicants to be judged?
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 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.
c. The Tony Elumelu Foundation itself is located in Nigeria, does this give preference to Nigerian entrepreneurs?
No. The TEF Entrepreneurship Programme is a Pan-African program and open to business ideas from all the 54 African countries from which we will select the best business ideas for the program.
d. If my start-up is selected to join the programme, when and how will I be informed?
Successful applicants will be notified on the 22nd of March, via the email address designated in the initial application. The list of selected entrepreneurs will also be posted on the TEF Website.
e. What additional information must I supply once my business is selected?
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)
f. Why was my application unsuccessful?
Since its inception, we have received over 65,000 applications for the limited spaces on the program, while we can only accept 1000 entrepreneurs each year. Here are a few possible reasons why your application was not successful:
-You did not complete the application
-Your business or idea is more than 3 years old
-Your business or idea is not based in Africa
-Your descriptions in one or more sections of the application were not clearly described
-Your application did not meet other eligibility criteria
-You scored low in one or more of the selection criteria.
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g. How can I improve my chances next year?
Ensure that you review the selection criteria in the next programme cycle and be sure to describe your business plan or idea such that every aspect of the business or idea (i.e. description, market, customer acquisition, financials, etc.) is fully covered.
h. Is there a waiting list for Applicants who could join the programme?
Yes, there is a waiting list. If any of the selected 1000 do not claim their places by the set deadline, the next best entrepreneur from the waiting list will be chosen before the commencement of the programme cycle.
i. If not selected, can I reapply in another programme cycle?
Yes. We open the platform for applications on January 1 every year. Each applicant will be required to put in a fresh application. We believe the elapsed time should serve to refresh your interest in your entrepreneurial objectives, and there might be new developments to include in the application.
What if English is not my first language?
The application portal will have functionality in English, French, and Portuguese.
What information/identification do I need to provide in my application?
You must answer all the mandatory questions in the application form.
How many applicants will be chosen to join the programme?
There are 1,000 places available annually for the applications that are selected by the Selection Committee for placement in the program.
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