Tony Elumelu Foundation Grant: Are you an African entrepreneur in need of a grant to support your business?
Application for the Tony Elumelu Foundation Grant has commenced for the 2024 cohort of young African entrepreneurs to not only get funded but also trained in order to help them build their businesses.
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Successful applicants receive a world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities..
This year’s intervention prioritises the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities.
In this post, the full details of the eligibility, benefits, timeline, and application procedure will be provided.
Abstract
Tony Elumelu Foundation Grant Details
Today marks the opening of the Tony Elumelu Foundation Entrepreneurship Programme (TEEP) for 2024.
Hosted on the digital platform TEFConnect, this initiative is a beacon for African entrepreneurs seeking empowerment.
Celebrating a decade of transformative impact in 2020, the Tony Elumelu Foundation is committed to fostering a new wave of African entrepreneurs.
Through the TEF Entrepreneurship Programme, successful candidates receive comprehensive business training, mentorship, a non-refundable seed capital of up to $5,000, and unparalleled networking opportunities.
This programme is open to entrepreneurs throughout Africa, encompassing both startups and existing young businesses in any sector.
Tony Elumelu Foundation Grant Requirements
To be eligible for the Tony Elumelu Foundation Grant, applicants must satisfy the following conditions:
- African entrepreneurs with startups or business concepts poised for growth.
Explore more scholarship opportunities below.
PROGRAMME PHASES:
Application Phase:
From January 1 to March 31, entrepreneurs can apply. Post-application, candidates will be categorized into relevant training paths:
- Preparatory Path: For those needing basic business skills. Involves general training but excludes mentorship and seed capital.
- Startup/Beginner Path: Tailored for early-stage entrepreneurs, including beginner training modules and mentorship.
- Innovator/Intermediate Path: Aimed at entrepreneurs with potential for success, offering intermediate training and mentorship.
- Disruptor/Advanced Path: For established or naturally skilled entrepreneurs, providing advanced training and mentorship.
Training and Mentorship Phase:
Selected candidates undergo intensive business training and mentoring. Performance is tracked via quizzes, and a virtual orientation program is provided. Participants gain access to peer support groups.
Business Plan and Financials Submission Phase:
After training, participants must compile their learnings into a business plan using provided templates. Successful completion of this phase, including passing the MCQs and submitting a business plan, leads to the Pitching Phase.
Pitching Phase:
Entrepreneurs present their business ideas to a panel of judges. Success in this stage grants seed capital funding and access to the Alumni network.
Seed Capital Phase:
Entrepreneurs who successfully complete all phases receive seed funding into their business accounts and a Certificate of Completion and Achievement from the Foundation.
Tony Elumelu Foundation Grant Benefits and Timeline
Successful applicants receive a world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities.
Application Procedure
For application details and requirements, visit the Award Webpage.
Key Notes:
Completion of the training is mandatory for moving forward in the programme, including business plan submission, participation in the pitching competition, and receipt of seed capital.
Interested and qualified applicants should click on the button below to begin your application.
Deadline: 31st March 2024
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