Home / Business & Economy / Finance & Investment / Tony Elumelu Foundation Entrepreneurship Programme application closes March 1
Chairman Heirs Holdings and Founder, The Tony Elumelu Foundation, Tony O. Elumelu

Tony Elumelu Foundation Entrepreneurship Programme application closes March 1

COME March 1, 2019, the Tony Elumelu Foundation, an African-funded and founded philanthropy committed to empowering African entrepreneurs will close its application portal and has announced its last call for applications into its prestigious 2019 Entrepreneurship Programme.

The application portal was launched on the 1st of January 2019 and selected beneficiaries will join 4,470 current alumni and will receive $5,000 seed capital, access to mentors, bespoke training and numerous opportunities to impact policies at the local and global level.

Open to African entrepreneurs from the 54 African countries, the Entrepreneurship Programme accepts business ideas as well as existing businesses with less than 3 years of experience in all sectors of the economy. It has been commended as one of the few accelerator-type programmes that encourage viable businesses at idea stage that can demonstrate potential to scale, generate revenue and create employment opportunities.

A 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs, the Programme’s objective is to generate at least 1,000,000 new jobs and create at least $10 billion in new business revenue across Africa.

Some of the success stories from the Tony Elumelu Foundation Entrepreneurship Programme include Mama Moni, founded by Nkem Okocha, a fintech social enterprise that provides loans to women in rural communities in Nigeria; founded by Martin Ruga, Desserts Anyone, a chocolate processing enterprise in Kenya was built from scratch and with the infusion of the capital from the Tony Elumelu Foundation Entrepreneurship Programme, the business now serves over two tonnes of chocolate to over 50,000 consumers; founded by Abiodun Adereni, Help Mum, a Nigerian based enterprise that provides low-cost birth kits to prevent child and maternal mortality recently won the first ever Google Nigeria Impact Challenge and has attracted additional capital investments; iMed Tech, founded by Nneile Nkholise, innovates in the medtech space in South Africa by using technology to create breast prostheses for women with breast cancer; in Egypt, Ahmed Abbas founded Sun City that provides mobile solar pumps for small farmers. Additionally, six of Tony Elumelu Foundation entrepreneurs were recognised on the Forbes 30 under 30 list, among many other achievements, some have been appointed on the boards of global companies, government and developmental institutions, influencing policies at various levels.

The Programme is inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalize luck and democratise opportunity for a new generation of African entrepreneurs. 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 – www.tefconnect.com – the largest digital networking platform for African entrepreneurs.

About NigerianFlightDeck

mm
Nigerianflightdeck is an online news and magazine platform reporting business stories with a bias for aviation and travel. It is borne out of the intention to inform, educate as well as alter perceptions with balanced reportage.

Check Also

Human Capacity Development: Bristow commits N250m to train staff

invests another N100m to train 20 Nigerians at NCAT BRISTOW Helicopters (Nigeria) Limited has once …

UBA GED recommends curriculum overhaul to equip graduates for tech evolution

“I am not certain if the finance and accounting graduates of today are familiar with modern financial softwares packages, including global accounting and financial reporting standards.“Have they been imbibed with the ready-to-market soft skills like leadership, communication, commercial acumen, flexibility/openness to change and strategic vision? “If not, I will like to propose an overhaul of the curriculum to accommodate these,” he noted.

Presidents of Rwanda, Senegal, DRC to engage over 5000 participants at TEF Entrepreneurship Forum

PRESIDENT’S of the Democratic Republic of Congo (DRC), Rwanda,Senegal, H.E Félix Tshisekedi , H.E Paul …

NAHCO expands export warehouse capacity to handle increased cargo volumes

NAHCO aviance has expanded the size of its export warehouse, as part of plans tailored …

Emirates Group records AED 2.3 billion (US$ 631 million) profit 2018-19 results

EMIRATES Group today announced its 31st consecutive year of profit and steady business expansion as …

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: