The Tony Elumelu Foundation is now receiving applications from African entrepreneurs for the 7th edition of its annual program – 2021 TEF Entrepreneurship Programme.
This is a program that is connecting young African Entrepreneurs beyond borders. It gives applicants access to world-class business training, mentorship, seed capital ($5000), and global networking opportunities.
Do you want to become the next Tony Elumelu Entrepreneur? Apply Now.
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About TEF Entrepreneurship Programme
The Tony Elumelu Foundation Entrepreneurship Programme is a $100million commitment made by the Elumelu family. The aim is 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. More so, the TEF training curriculum has been designed to segment entrepreneurs based on demonstrated capability and knowledge.
Basically, the training will educate 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.
However, the 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.
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What To Expect From The 2021 TEF Entrepreneurship Programme
The Entrepreneurship Program identifies outstanding African entrepreneurs who have start-ups or business ideas with the potential to grow. The program is in the following phases;
The Application Phase
From January 1 – March 31. Once applications are closed, all eligible applicants will be placed in the appropriate training path. This includes;
Preparatory
It means you do not have the skill sets to start a business. Hence, you will go through the general training on TEFConnect. You will, however, not be eligible for mentorship or seed capital.
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Start-up/Beginner
This means you are a starter according to your business start-up profiling. You will go through the beginner training modules, with access to world-class mentors during the program.
Innovator/Intermediate
This means that you have been profiled to be an intermediate entrepreneur. You have good potential to be a successful entrepreneur. So, you will go through the Intermediate training modules and have access to world-class mentors during the program.
The Training And Mentorship Phase
Once you are shortlisted and placed in the appropriate training path, you will be eligible to take part in TEF rigorous business training and mentoring sessions. There will be multiple-choice questions to track your performance. Also, you’ll attend a virtual orientation program to learn more about the process and get timelines and resources available for you to succeed. The shortlisted entrepreneurs will have access to join the peer-to-peer support groups.
Also, shortlisted entrepreneurs will have to complete the business training, answer the quiz at the end of each module. And, after the training, you will have the opportunity to develop a Business Plan
The Business Plan And Financial Submission Phase
At the end of the training, you will have to combine all the learning from the training into a single cohesive document. You will receive a business & financial plan template; this will be in the online resource library. This template will help you create the first draft of your business plan. After the Business Training & Business Plan Submission, only successful candidates (who complete the MCQs) and score above the cut off mark and submit a business plan) would be eligible to move on to the next stage: the Pitching Competition.
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The Pitching Phase
This is an opportunity to demonstrate your business knowledge and convince the judges about the feasibility of your business. At the pitching stage, you’ll pitch your idea before the panel of judges. Then, only successful candidates will receive seed capital funding and access to the Alumni network to support their business ambitions.
If you successfully complete all training phase and submit a business plan, but was unsuccessful after the pitching competition; you will receive a training completion certificate and can reapply next year.
Please Note: This phase is another key outcome of this training programme and all shortlisted entrepreneurs must go through this phase to be eligible for SEED Capital.
The Seed Capital Phase
If you have successfully completed all the above steps, you’ll be required to open a business account. Thereafter, seed capital will flow into the account created. An entrepreneur who is eligible to receive seed funding will be given a certificate of completion and achievement from the foundation.
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Registration Process
The application form consists of four parts:
- Personal information
- Commercial information
- Cognitive assessment
- Declaration section
To ensure a transparent application process, you will need to have a valid government-issued ID and indicate your name on the application form on TEFConnect exactly as it appears on the ID card.
Also, you will have to:
- Complete all mandatory fields in the online application form.
- Submit the form
- Attach all the requested documents (valid identity card and photo headshot) and upload the required documents.
- Then, expect the Foundation comments
Please Note: You can only access the platform with a single email account. It is important that you register with an email you have regular access to.
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The application deadline for the 7th Edition of the 2021 TEF Entrepreneurship Programme application is March 31, 2021. Do you have an interest in the program? Apply now through the digital networking hub for African entrepreneurs www.tefconnect.com
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