- Application available via TEFConnect.com – the largest digital networking platform for African entrepreneurs
- Successful applicants to join existing 4,470 programme Fellows
- TEF Entrepreneurship Programme, in its 5th Cycle, is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years.
- The deadline for applications submission is March 1, 2019.
The Tony Elumelu Foundation has opened applications for the 2019 cohort of the TEF Entrepreneurship Programme with $100 million commitment for 10,000 African entrepreneurs.
In a statement posted on its website on Tuesday, January 1, 2019, TEF said the programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs.
With its objective to generate at least 1,000,000 new jobs and create at least $10 billion in new business revenue across Africa, the 2019 cohort will consist of outstanding African entrepreneurs running existing start-ups with high growth potential and aspiring business owners with transformative ideas.
Founder, Tony O. Elumelu, CON, stated: "The private sector must be the core driver of Africa's economic transformation, but this sector cannot attain its full potential if entrepreneurs are left behind. We call on all stakeholders - policymakers, business leaders and development agencies - to commit to creating a better future for our young Africans who have demonstrated intellect, skill, and passion, to empower them to succeed because their success is Africa's success. The TEF Entrepreneurship Programme is by far the most impactful project of my life and represents my commitment to transforming Africa through entrepreneurship".
Parminder Vir, CEO, Tony Elumelu Foundation, said: "Our entrepreneurs illustrate the Foundation's commitment to transform the African economy, by building on the intelligence, skills and resourcefulness of Africans. I encourage all ambitious young Africans to take advantage of this unique opportunity".
Criteria for selection
The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years.
The deadline for applications submission is March 1, 2019.
Applications will be judged based on criteria including feasibility, scalability and potential for growth of the product/service; market opportunity for the idea/business; financial understanding, leadership potential and entrepreneurial skills.
Applicants can apply on TEFConnect - http://www.tefconnect.com