Applications are now open for the Tony Elumelu Foundation Entrepreneurship Programme (TEEP) 2024.
It focuses on the economic recovery of small and medium-scale enterprises (SMEs) and young African entrepreneurs post the Covid-19 disruption.
The Tony Elumelu Foundation marked a decade of impact in 2020. It is dedicated to empowering a new generation of African entrepreneurs.
The foundation continues to nurture entrepreneurial growth and innovation across the continent.
Successful applicants gain access to world-class business training, mentorship, up to $5,000 in non-refundable seed capital, and global networking opportunities.
The Program is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.
The Entrepreneurship Program seeks outstanding African entrepreneurs with start-ups or business ideas poised for growth.
Tailored training aims to equip entrepreneurs for the challenges faced on the African continent, with a curriculum focusing on practical, iterative learning for long-term use.
- Application Phase: Open from January 1 to March 31, with applicants sorted into training paths: Preparatory, Start-up/Beginner, Innovator/Intermediate, and Disruptor/Advanced.
- Training & Mentorship Phase: Shortlisted entrepreneurs undergo rigorous business training and mentoring, with multiple-choice questions tracking performance. Virtual orientation programs and peer-to-peer support groups enhance the learning experience.
- Business Plan Submission Phase: Shortlisted applicants create a cohesive business plan incorporating training insights. Only successful candidates proceed to the next stage: the Pitching Competition.
- Pitching Phase: Entrepreneurs pitch ideas to a judging panel. Successful candidates secure seed capital funding and access to the Alumni network. Unsuccessful applicants receive a training completion certificate and can reapply the following year.
- Seed Capital Phase: Entrepreneurs completing all steps successfully open business accounts to receive seed capital. Certificates of Completion and Achievement are awarded.dation.