Apply for Tony Elumelu Entrepreneurship Programme 2024 ($5,000 Grant for African Entrepreneurs)
Apply for Tony Elumelu Entrepreneurship Programme 2024. The TEFconnect application form is now available, and applications are being accepted! The Tony Elumelu Foundation is a non-profit empowerment organization dedicated to introducing African youths to the entrepreneurial world so that they can become an engineering force for the continent’s DEVELOPMENT.
Founded in 2010 by Nigerian investor Tony Elumelu, the foundation has been able to champion thousands of youth across Africa into creating their jobs for themselves and others by delving into the entrepreneurial field.
The foundation, backed by Tony Elumelu investment company heirs holdings, is currently active in all 54 African countries and has empowered at least 9000 young entrepreneurs since its launch in 2015 the foundation would have surpassed its pledge of empowering 10000 youths in ten years if the program had not been suspended last year because of the covid-19 pandemic. They have, however, come up with an ingenious framework to beat the target this year.
The foundation typically selects its candidates from a host of applications received from all 54 Africa countries. The selected candidates are then trained and mentored throughout a 12-week program.
At the end of the program, the finalists are then funded with a non-refundable first stage seed capital of $5000 to start up their proposed business. A second stage returnable investment will then be made open to candidates whose businesses turned out successful.
The TEF foundation empowerment program has been carried out yearly since its launch in 2015,.
We shall show you how to apply for the 2024 program successfully.
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TEFconnect (8th edition) application process
For this edition of the TEF connect program, the foundation has decided to carry out the training and funding of 2000 candidates. This includes the 1000 candidates from the 2020 batch that did not commence last year and the new set of 1000 candidates that will be shortlisted this year. However, unsuccessful applicants from last year will not be allowed to apply this year to give new applicants a fair opportunity to be selected.
Eligibility or criteria for a successful TEFconnect entrepreneurship program application
Before applying for the TEFconnect entrepreneurship program, interested applicants must first consider some factors before applying. While anyone can choose to apply, not everyone is eligible for application, and those in the latter will not have their form accepted. Hence applicants must first make sure they are qualified before applying.
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Eligibility TEFconnect entrepreneurship program;
- Interested applicants must have already existing innovative businesses in the gestation stage of 0 to 3 years or have a very viable business idea. The business or business idea must also be profitable.
- The applicant must be an African startup entrepreneur that has a business or business idea based in Africa.
- Applicants with businesses will be counted valid as long as they meet the criteria irrespective of the sector.
- Applicants with Businesses or those with viable business ideas must make sure the business can create employment.
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Selection Process and beneficiaries.
- Following the closure of applications, shortlisted candidates will be notified and would have to undergo business training.
- Selected candidates will also have to prepare and submit a viable business plan.
- Entrepreneurs with the best performance during the 12 weeks of training will undergo a pitching phase in the 54 African countries.
- After the pitching phase, the Top entrepreneurs will receive a non-refundable seed capital of $5,000 (five thousand dollars)
- The beneficiaries will then be announced at the TEF Forum and have their success pasted on the TEFconnect website.
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How to Apply for Tony Elumelu Entrepreneurship Programme 2024
For registered users:
- Visit the official TEFconnect website www.TEFconnect.com and sign in.
- At the Home Page, Click on “PROGRAMMES,” and click APPLY on the TEF 2024 Programme.
- Fill in the information required on the Application form as accurately as possible. Then click SUBMIT. Note that the application form is divided into four parts: Personal Information, Business Information, Cognitive Assessment, and Declaration.
- An eligibility status directing you TO CONTINUE OR NOT will be displayed on the screen and sent to your email.
- If you are eligible, an email will be sent from the TEF team to direct you on how to commence your “TRAINING.”
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