TEF - Afrikan Heroes

Tony Elumelu Foundation Announces $5000 Seed Capital Entrepreneurial Programme.

December 31, 2021

The Tony Elumelu Foundation (TEF) the leading philanthropy empowering young African entrepreneurs across all 54 African countries, has opened applications for the 2022 TEF Entrepreneurship Programme on www.TEFConnect.com. African entrepreneurs with business ideas or existing businesses under 5 years, are encouraged to apply now for $5000 seed capital, mentorship, business management training and more on the 2022 Tony Elumelu Foundation Entrepreneurship Programme

Ifeyinwa Ugochukwu, the CEO of Tony Elumelu Foundation

Since 2015, the TEF Entrepreneurship Programme – the only African-funded entrepreneurship catalyst of its kind – has empowered 15,847 African entrepreneurs with non-returnable seed capital of $5,000 each; twelve weeks of business management training; access to experienced mentors; and membership to Africa’s largest entrepreneurial ecosystem.

In 2021, the Tony Elumelu Foundation disbursed USD$24.75 million to 5000 African entrepreneurs across Africa for its 2021 Entrepreneurship Programme. The Foundation’s Entrepreneurship Programme remains one of the largest private sector responses to driving the economic recovery of African youth, women and SMEs given the effects of the covid19 pandemic across Africa. Across Africa, the Tony Elumelu Foundation Entrepreneurship Programme beneficiaries are starting and growing trailblazing businesses that have collectively created over 400,000 direct and indirect jobs.

According to 2015 Tony Elumelu Entrepreneur, Hauwa Liman, female business owner and Founder of Afrik Abaya: “I am always proud to say that I am from the inaugural cohort of the Tony Elumelu Foundation Entrepreneurship Programme. My business is located in Kaduna, in northern Nigeria. I benefitted from this Programme in 2015, and it opened up lots of doors and opportunities. It is not just about the seed capital, but what really fascinates me about the Programme is the knowledge. I call it a mini-MBA programme, because from the ideation stage it teaches you how to really articulate your business, and it gave me my first business plan. The network, visibility and opportunities are endless. My entrepreneurship experience cannot be complete without the Tony Elumelu Foundation. I will start exporting to other countries soon courtesy of the Foundation. We now employ ten permanent staff and an additional eight staff on a commission basis.”

Commenting on the launch of the 2022 Tony Elumelu Foundation Entrepreneurship Programme, CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu shared, “We are constantly blown away by the quality of businesses that come from Africa every year. This motivates us to scale our efforts to empower even more entrepreneurs on continent. The innovation, knowledge and resilience of African entrepreneurs is central to charting Africa’s socio-economic transformation and meet the continent’s development objectives. We are also proud of the increase in female participation on our Programme, especially with the 2021 cohort where we witnessed a record 68% selection of women entrepreneurs.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

New EU-Backed $24 Million VC Fund Launched For African Women Founders By Tony Elumelu Foundation

December 13, 2020

A partnership has been signed between the European Commission and the Tony Elumelu Foundation for the support of more than 2,500 women entrepreneurs in the 54 countries of the continent, by offering them entrepreneurship training as well as seed capital to allow their initiatives to pass the startup phase. The two entities aim to solve the problems faced by young African companies, namely skills and capacity gaps, financial constraints and lack of access to mentoring and markets.

“This joint effort will prioritize and provide economic opportunities for African women who, for too long, have endured systemic obstacles to start, grow and maintain their businesses, ” said For Tony Elumelu, chairperson of TEF.

This partnership intends to alleviate the funding, knowledge and market constraints that threaten the livelihoods of women entrepreneurs on the continent, in order to create more income, jobs, and growth for the businesses owned. by women, ”he added.

Tony Elumelu Foundation women founders African Tony Elumelu Foundation women founders African

Here Is What You Need To Know

With a budget of 20 million euros ($24m), the program is co-financed by the European Union and the Organization of African, Caribbean and Pacific States (OACPS), in collaboration with the German Federal Ministry for Cooperation Economic and Development (BMZ).
It is implemented by the German Society for International Cooperation (GIZ).
This new fund focused on the economic empowerment of women across Africa, aims to improve access to finance and venture capital investments, particularly in the context of the Covid-19 pandemic where women have been the most affected by the economic crisis.
In addition, it will help women participate in economic development and accelerate their financial inclusion.
The new fund is also part of the EU 2020–2025 strategy on gender equality.
Interested women entrepreneur applicants should watch this space.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Tony Elumelu Foundation Announces Opening Of Application For TEEP 2020

December 2, 2019

Africa’s largest entrepreneurship forum, the Tony Elumelu Entrepreneurship Programme.

TEEP is now set for its sixth(6) edition scheduled for the year 2020. In preparation for its 6th edition TEEP has announced that it will begin accepting applications for the 2020 cohort of the TEF Entrepreneurship Programme, on January 1, 2020.

African Billionaire and Philanthropist Mr Tony O. Elumelu, CON

The TEF Entrepreneurship Programme is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than 3 years of existence, operating in any sector of the economy.

Since inception in 2015 over 5,000 entrepreneurs across Africa have received support grants worth $5,000 each to scale their businesses.

TEEP has received several global support and partnership from international and development agencies like the United Nations Development Programme, UNDP, The International Committee of the Red Cross, ICRC, The French Development Agency, OFDA, amongst others.

The programme was founded by African Billionaire and Philanthropist Mr Tony O. Elumelu, CON who is a firm believer in the empowerment of African entrepreneurs, to solve challenges in the continent, create wealth and address issues like poverty.

Frequently Asked Questions

How do I apply for the 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.

What if my company is a partnership?

Only one nominated person from the business or the partnership is able to join the programme.

Can I apply offline?

No. All Applications must be submitted online through the application portal.

How is the Programme Selection Process?

1- How are selected applicants chosen to join the programme?

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.

2- 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 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.

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 programme and open to business ideas from all the 54 African countries from which we will select the best business ideas for the programme.

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.

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)

Why was my application unsuccessful?

Since inception we have received over 65,000 applications for the limited spaces on the programme, 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 was not clearly described
-Your application did not meet other eligibility criteria
-You scored low in one or more of the selection criteria.

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.

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 commencement of the programme cycle.\

If not selected, can I reapply in another programme cycle?

Yes. We will 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 a placement in the programme.

Are there application/associated fees?

No. The Tony Elumelu Foundation does not charge any applicants a fee for applying to the programme.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world