Apply for the 2024 Tony Elumelu Entrepreneurship Programme ($5,000 Grant for African Entrepreneurs)

THE 10TH EDITION OF THE TONY ELUMELU FOUNDATION ENTREPRENEURSHIP PROGRAMME (2024)

Application Period: 1st January 2024 - 1st March 2024

PREVIEW

The Tony Elumelu Foundation Entrepreneurship Programme is a $100million commitment made by the Elumelu family to empower 10,000 African entrepreneurs over a 10-year period through, training, mentorship, and funding. The goal is to create at least 1million jobs and contribute over $10billion in revenue to the African economy.

Through its flagship Entrepreneurship Programme, the Foundation empowers African entrepreneurs and the entrepreneurship ecosystem across 54 African countries. The TEF training curriculum has been designed to segment entrepreneurs based on the demonstrated capability and knowledge.

The training has been tailored to educate and capacitise you in starting or growing your business to overcome the challenges faced by entrepreneurs across the African continent. The curriculum focuses on practical, iterative learning that is useful even long after the training period.

NOTE: Completion of the training programme is a strict condition to moving forward to the submission and review of your business plan, participation in the pitching competition, and receipt of seed capital.

THE APPLICATION FORM
The application form consists of 4 sections:

1. Personal information
2. Business Idea & Experience
3. Personality assessment, Cognitive and Business acumen assessment
4. Declarations

To ensure a transparent application process, all applicants must upload a valid government issued ID and indicate their name on the application form and on TEFConnect exactly as it appears on the ID card.

ALL APPLICANTS WILL BE REQUIRED TO:

1. Complete all mandatory fields in the online application form on TEFConnect.
2. Submit the form.
3. Attach all the requested documents (valid identity card and photo headshot) and upload the required documents.
4. Receive a notification on eligibility & next steps.

Please Note: TEFConnect can only be accessed by a single email account. It is important that all applicants register with an email to which they have regular access.

WHAT TO EXPECT FROM THE PROGRAMME?
The Entrepreneurship Programme identifies outstanding African entrepreneurs who have start-ups or business ideas with the potential to grow. The TEF Entrepreneurship Programme will be delivered in different phases as listed below:

1. Application Phase
2. Training Phase
3. Business Plan Submission Phase
4. Pitching Phase
5. Seed Capital Phase

THE APPLICATION PHASE

The Tony Elumelu Foundation Entrepreneurship Programme Application will launch on the 1st of January to the 1st of March at Midnight. All applicants should complete the application by providing valid and accurate responses to the questions. A third-party consultant will assess your application. Once applications are closed, the eligible and ineligible applicants will receive a notification via TEFConnect and email.

INELIGIBLE APPLICANTS

These applicants must improve their business skill sets to launch and run a business, which is essential. You have access to the TEF General Training on TEFConnect but won’t be eligible to be paired with a mentor and receive seed capital.

THE TEF ENTREPRENEURSHIP PROGRAMME

After the application review phase, the successful applicants will have full access to participate in the TEF Entrepreneurship Programme, which comprises training, mentorship, Business plan & financial development and review and the pitching competition. All participants must attend the virtual orientation session to learn more about the program, its phases, timelines, and the resources available to succeed in the program.

THE TRAINING PHASE

All the selected participants will take part in the world class business training and take multiple-choice questions to track your performance. They will be given access to join peer-to-peer support groups via WhatsApp.


THE BUSINESS PLAN AND FINANCIALS SUBMISSION PHASE

Each entrepreneur will be required to use the knowledge and experience obtained during the TEF Business management training programme to develop a Business Plan using the template TEF will provide.
These Business plan & financials will be reviewed by a third-party consultant, provide feedback and areas of improvement.

SUBMISSION OF THE TEF REQUIRED DOCUMENTS

All applicants selected post the application are expected to start the process of registering their business and open a business bank account after selection.

The participants who are from the countries with UBA presence must open an account with the United Bank for Africa and a reputable commercial bank if you are from a non-UBA country. The documents required are listed below:

1. Upload an original government-approved ID card (it must be one of those listed below).
• National Identity Card (The card or the Slip)
• National Driver`s License
• International passport
• Permanent Voter card

2. Business Registration Document/ Certificate (The name on your ID card must match the name on the document).
3. Complete the notarized document and stamp it at the notary public office (The name on your ID card must match the name on the document).
4. Tax registration certificate (Must have your business name on it)
5. Bank reference letter (The name on your ID card must match the name on the letter)
6. Partner`s Consent form (If you run your business with a partner) is optional. If you have a partner, (you must complete the form, and your name must match with the ID card)
7. Fund use and milestone tool (The name on your ID card must match the name on the document)

Please read and note the following:

1. If the picture on the ID card differs from the image in the pitch video, we will automatically remove it from the program. You will be issued a letter by the TEF Management.
2. If we discover the name on the ID card does not match the name on the bank reference letter, notarized document, or business registration document, it is automatically disqualified from the programme.
3. Ensure that your uploaded business plan aligns with the application submitted and pitch video.
4. Ensure compliance with the terms and conditions issued by TEF to the entrepreneurs.
5. Read the TEF Participation thoroughly and ensure full compliance.
6. Submitting these documents does not guarantee automatic selection for seed capital. Instead, it is an opportunity to be selected, provided all required documents are submitted before the stipulated deadline and successfully validated.
7. We will meticulously review all submitted documents. Any flagged documents will result in automatic disqualification from the programme. Please review and ensure all documents are correct before submission.

We will audit each participants details & document uploaded. We will disqualify any participant who does not comply and shares fake, invalid, and fraudulent details & documents will be disqualified.

THE TEF ENTREPRENEURSHIP FORUM
The TEF Entrepreneurship Forum is one of the pillars of the TEF Entrepreneurship Programme.
“The TEF Forum is the Largest gathering of African Entrepreneurs.” The convening will bring together the TEF Entrepreneurs, Political Leaders, Policy makers, Business leaders, Investors, DFIs, Media and other entrepreneurs within the entrepreneurship ecosystem of Nigeria.

THE PITCHING PHASE
This is an opportunity to demonstrate your business knowledge and convince the judges about the feasibility and potential of your business.
At the pitching stage, entrepreneurs will pitch their ideas before a panel of judges. You will upload a 2-3 min pitch video about your idea or existing business.

THE SEED CAPITAL PHASE
All entrepreneurs who have successfully completed all the above steps will be required to open business bank account with the same registered business name. Once you have successfully completed it, you will receive seed capital in your business bank account and receive a CERTIFICATE OF COMPLETION AND ACHIEVEMENT from the Foundation.

Visit http://www.tefconnect.com/ to apply!

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