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The 2024 Tony Elumelu Foundation Entrepreneurship Competition for Africans Opens for Applications

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.

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Program Phases

  1. Application Phase: Open from January 1 to March 31, with applicants sorted into training paths: Preparatory, Start-up/Beginner, Innovator/Intermediate, and Disruptor/Advanced.
  1. 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.
  1. 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.
  1. 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.
  1. Seed Capital Phase: Entrepreneurs completing all steps successfully open business accounts to receive seed capital. Certificates of Completion and Achievement are awarded.dation.