Programme now in 4th year
By Nsikan Ikpe
The race to pick another tranche of participants in the annual Tony Elumelu Entrepreneurship Programme (TEEP), is presently underway.
The programme provides 1,000 startups with training, mentorship and US$5,000 in funding and is run by the Tony Elumelu Foundation (TEF).
Now in its fourth cycle of its projected 10-year span, the programme is a US$100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024.
Applications for the latest edition close on March 1, with successful applicants scheduled to receive 12 weeks of intensive online training, access to a world-class mentor, and US$5,000 in seed capital to prove the concept, plus access to further funding as is applicable. They will also gain access to the TEF network of startups.
“When we launched the TEF programme and committed US$100 million, I knew we would create impact, but I never imagined it would be of this magnitude. We’ve unleashed a movement of African entrepreneurs – a force so strong, I am confident they will collectively transform Africa,” said TEF founder Tony Elumelu.
“We need Africa’s best and brightest to grow their businesses and build our continent.”
According to the organisers, entrepreneurs will be selected based on the viability of their idea, including market opportunity, financial understanding, scalability, leadership and entrepreneurial skills. Applicant startups must be based in Africa, for-profit, and less than four years old.
“We encourage women, French and Portuguese speakers to apply. Our 3,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you,” said TEF chief executive officer (CEO) Parminder Vir.
Programme visioner, Mr. Tony O. Elumelu