The Tony Elumelu Foundation has opened applications for the 2019 cohort of the TEF Entrepreneurship Program with a $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". 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.
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.
Click here to apply.
The deadline for the application is March 1, 2019.
Sources: Tony Elumelu Foundation