Tony Elumelu Foundation Entrepreneurship Programme (TEEP)

Tony Elumelu Foundation is Africa’s leading philanthropic organization dedicated to empowering African entrepreneurs.

The intervention aims to prioritize the economic recovery of small and medium-scale enterprises (SMEs) and young African entrepreneurs following the impact of Covid-19 on economic activities.

About Tony Elumelu Foundation Entreperneurship Programme

The Tony Elumelu Foundation empowers a new generation of African entrepreneurs through its Entrepreneurship Programme. 

Successful applicants receive world-class business training, mentorship, business capital of $5,000, and global networking opportunities. 

The Programme is for entrepreneurs across Africa, including new start-ups and existing young businesses operating in different sectors.

The training has been organized to educate entrepreneurs on creating or growing their businesses in the adverse African economy.

About 2400 African Entrepreneurs get to benefit from this program every year.

Type: Entrepreneurship

WHAT TO EXPECT FROM THE PROGRAMME?

The TEF Entrepreneurship Programme TEEP 2022 will be delivered in different phases as listed below:

• Application Phase
•  Training &Mentorship Phase
•  Business Plan Submission Phase
•  Pitching Phase
•  Seed Capital Phase

TEEP Requirement

The Programme identifies incredible African entrepreneurs who have start-ups or business ideas with great potential.

Eligible Countries: All African countries

THE APPLICATION PHASES for TEEP

Applications start from January 1st 2023 to March 31st 2023. 

At the close of applications, eligible applicants will be placed in the following training path based on their skillset;

• Preparatory Phase: This path is for applicants new to the business world and lacking the right skill set to run a business. Applicants in this phase go through general training on TEF. Applicants in this phase are not eligible for mentorship or start-up capital.
• Start-Up Phase: Applicants in this phase are new to the business world but with very little experience. Applicants are given access to world-class mentors.
• Innovation Phase: Applicants in this phase have been profiled to have an intermediate knowledge of the business world. Applicants have access to world-class mentors during the Programme.
• Advanced Phase: Applicants on this path are either natural or experienced in business. Applicants have access to world-class mentors during the Programme.
• Training/Mentorship Phase: Once shortlisted and placed in the appropriate training path, applicants will be eligible to participate in TEF’s rigorous business training and mentoring sessions.
• Business Plan phase: At the end of the TEEP [2023 training, applicants will combine all the learnings from the training into a single cohesive document.

They are given a business and financial plan template. This template helps them create the first draft of their business plan.

After the phase, only successful candidates (who complete the MCQs, score above the cut-off mark, and submit a business plan) would be eligible to move on to the next stage.

• Pitching Phase: Applicants are allowed to showcase their business knowledge and convince the judge about the sustainability of their business.

Applicants who were unsuccessful during the pitching phase are awarded a certificate of completion and can reapply the following year.

• Seed Capital Phase: Young entrepreneurs who have completed the above steps will be required to open business accounts, and seed capital will be sent into these accounts.

Entrepreneurs eligible for funding will also receive a Certificate of Completion and Achievement from the Foundation.

How to Apply FOR TEEP 2022

• Visit TEF’s website to see the necessary application requirement.
•  Complete your application.

Conclusion

Entrepreneurs looking for an opportunity to have mentoring sessions with world-class business mentors with limited finances should use this opportunity well.

Tony Elumelu Foundation Entrepreneurship Programme was created to help entrepreneurs fulfill their dreams.

Application for this scholarship will close soon; share with your friends looking for such a business opportunity.