Applications For Africa’s Largest Business Incubator Still Open

Applications For Africa’s Largest Business Incubator Still Open

SHARE
the-tony-elumelu-foundation

Africa’s largest business incubator, The Tony Elumelu Foundation (TEF), is now accepting applications from African entrepreneurs, with business ideas that can transform Africa.

The application portal is open and accepting submissions until Midnight WAT on March 1, 2017. To apply, complete the online application at www.tonyelumelufoundation.org/programme.

Successful applicants will join the third cycle of the TEF Entrepreneurship Programme, TEF’s 10-year, $100 million commitment to train, mentor and fund 10,000 African entrepreneurs in every African country.

Related: Attention Black Entrepreneurs: Start-Up Funding From Government Grants & Funds

Since inception in 2015, the Programme has assisted nearly 2,000 entrepreneurs and created hundreds of jobs across the continent.

The Programme provides critical tools for entrepreneurial success, including:

  • Training: 12 weeks of intensive training on setting-up and managing businesses
  • Mentoring: A mentor will guide successful applicants in creating a robust business plan
  • Seed Capital: $5,000 in non-returnable seed capital and access to a $5,000 convertible loan.

tony-o-elumelu

TEF Founder, serial entrepreneur and philanthropist Tony O. Elumelu, CON said:

“Our Programme is a deliberate effort to institutionalise luck and provide the essentials for business growth to Africa’s next generation of business leaders. It is a demonstration of my faith in this generation’s ability to transform the African narrative, from the single story of disease and poverty, to one of enterprise and opportunity. Spread the word; we need Africa’s best and brightest entrepreneurs. Their ideas will transform Africa.”

1,000 entrepreneurs will be selected based on the viability of their idea, including: Market opportunity; financial understanding; scalability; and leadership and entrepreneurial skills demonstrated in the application.

Related: Enterprise Development Programmes For Black Entrepreneurs

To be eligible:

  1. Business must be based in Africa
  2. Business must be for profit
  3. Business must be 0-3 years’ old
  4. Applicants must be at least 18 and a legal resident or citizen of an African country

CEO of the Foundation, Parminder Vir OBE said:

“We encourage women, French, Arabic and Portuguese speakers and business ideas from every region across Africa, to apply. Our 2,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you.”

For more information or to apply, visit: http://tonyelumelufoundation.org/programme/faqs/

Entrepreneur
Entrepreneur Magazine is South Africa's top read business publication with the highest readership per month according to AMPS. The title has won seven major publishing excellence awards since it's launch in 2006. Entrepreneur Magazine is the "how-to" handbook for growing companies. Find us on Google+ here.