TOP 10 TEEP FACTS!

Here are the 10 most important things you need to know about the Tony Elumelu Foundation Entrepreneurship Programme...

 

 

 The Application Portal is now open! APPLY NOW

The $100 Million Tony Elumelu Foundation Entrepreneurship Programme

Lagos, Nigeria, January 1st 2015 – The $100 Million Tony Elumelu Foundation Entrepreneurship Programme – an annual programme of training, funding and mentoring, designed to empower the next generation of African entrepreneurs – is now open for entries through its application portal 

http://www.tonyelumelufoundation.org/teep

The flagship entrepreneurship programme from the Tony Elumelu Foundation opens its application portal for entries at 12:01am WAT on January 1^st 2015 and will continue to accept applications until midnight WAT on March 1^st 2015. In order to submit an application, entrepreneurs must complete the online application form with questions on their background, experience and business idea, plans for growth and proposed pan-African impact.

“Since the Tony Elumelu Foundation Entrepreneurship Programme was announced, we have been enthused by the level of interest and excitement from entrepreneurs across Africa. We are looking forward to reviewing the entries and identifying the first cohort of the continent’s next generation of business leaders,” said Parminder Vir OBE, Director of Entrepreneurship, The Tony Elumelu Foundation.

The $100 million programme, announced at the Tony Elumelu Foundation headquarters in Lagos, Nigeria, on December 1^st 2014, will identify and support 1,000 entrepreneurs from across the continent each year over the next decade. The 10,000 start-ups and young businesses selected from across Africa will ultimately create one million new jobs and add $10 billion in annual revenues to Africa’s economy.

The Tony Elumelu Foundation Entrepreneurship Programme is open to citizens and legal residents of all 54 African countries. Applications can be made by any for-profit business based in Africa in existence for less than three years, including new business ideas.  The application portal is available in English, French and Portuguese and applications will be accepted in these three languages.

 

At the launch, Tony O. Elumelu CON, the founder of the Tony Elumelu Foundation, spoke of his personal commitment to empowering African entrepreneurship, saying, “This programme is far more than a funding initiative or networking opportunity. It is an act of faith in our entrepreneurs and our young people to transform our continent; to be the engine for the creation of both economic and social wealth, putting into practice what I have called Africapitalism.”

Applications for the programme close on March 1st 2015 when they will be reviewed by the Selection Committee, whose members include:
- Ory Okolloh, Director of Investments, Omidyar Network’s Government
  Transparency Initiative in Africa

- Amadou Hott, CEO, Senegal's Sovereign Wealth Fund

- Ayodeji Adewunmi, CEO and Co-Founder, Jobberman
- Dr Vera Songwe, Country Director, World Bank Group for Senegal, Cape Verde,  
  Gambia, Guinea-Bissau and Mauritania
- Opunimi Akinkugbe, CEO, Bestman Games Ltd
- Dr Ndubuisi Ekekwe, Founder, First Atlantic Semi-Conductors & Microelectronics
- Sam Nwanze, Chief Investment Officer, Heirs Holdings
- Monica Musonda, CEO, Java Food in Zambia
- Angelle Kwemo, Managing Director & CEO, Rimsom Strategies
- Mariéme Jamme, CEO, Spotone Global Solutions
- Dr Wiebe Boer, CEO, The Tony Elumelu Foundation

The first cohort of successful applicants from across Africa will be announced on March 22^nd, 2015. The 1,000 selected applicants will continue through the programme cycle for the course of the year. This includes an intensive online training curriculum and participation in an entrepreneurship boot camp.

To stay informed about The Tony Elumelu Foundation Entrepreneurship Programme, including the 2015 selection of African Entrepreneurs, follow @TonyElumeluFDN on Twitter and join the conversation #TEEP #AfricanEntrepreneurs

Media Contact: Toyin Awesu

Email - Toyin.awesu@tonyelumelufoundation.org

Tel – +234-1-277 4641-5

Application Enquires: Onajite Emerhor

Email - onajite.emerhor@tonyelumelufoundation.org

Tel +234-1-277 4641-5

About the Tony Elumelu Foundation

The Tony Elumelu Foundation is an African-based, African-funded philanthropic organisation, founded in 2010 by African business leader and philanthropist Tony O. Elumelu, CON; who is committed to driving African economic growth, through empowering African entrepreneurship.
Website: http://www.tonyelumelufoundation.org

The $100 million Tony Elumelu Foundation Entrepreneurship Programme is the flagship entrepreneurship initiative from the Foundation and will support 10,000 African entrepreneurs over the next decade, creating one million new jobs adding $10 billion in annual revenues to Africa’s economy.

Website: http://www.tonyelumelufoundation.org/teep/

7 PILLARS OF THE TONY ELUMELU FOUNDATION ENTREPRENEURSHIP PROGRAMME - (7) ALUMNI NETWORK

As a TEEP start-up, you will go through the 12 week training, have rapport with your mentor, and build your business over the months of the programme and may be wondering, come December, what next?

 TEEP will definitely not leave you out in the cold – the alumni network is where you can continue to connect with mentors, and fellow TEEP start-ups, access the vast online resource library and be kept totally in the loop with TEEP.

The TEEP Alumni Network fosters a spirit of loyalty, comradery and dedication to give back to the programme, thereby promoting the general welfare of the programme and all those it has impacted.

Who qualifies as Alumni?

Past beneficiaries of TEEP, mentors and stakeholders who are enthusiastic  and willing to take on the programme’s initiative, eager to engage and participate in the Alumni’s activities, and to tell of the impact of the programme.

For more information, visit our website www.tonyelumelufoundation.org/teep

7 PILLARS OF THE TONY ELUMELU FOUNDATION ENTREPRENEURSHIP PROGRAMME - (6) SEED CAPITAL

 

In reality, all the training, mentorship and support can get you very far, but lack of capital is one of the fundamental reasons African businesses can’t grow.  TEEP has designed a two-part seed capital funding scheme, providing a total of $10,000 each for our start-ups to really get your business off the ground.

The first phase is non-returnable seed capital investment of $5,000 awarded on completion of draft business plan and training, available to all entrepreneurs in our programme.  The money will be dispersed immediately following the 2-day boot-camp and Elumelu Entrepreneurship Forum.

The second phase is a returnable $5,000 investment, following the conclusion of that cycle year.  Our start-ups will also be in a great position to attract investors having learned and perfected their business models.

For more information, visit our website www.tonyelumelufoundation.org/teep

7 PILLARS OF THE TONY ELUMELU FOUNDATION ENTREPRENEURSHIP PROGRAMME - (5) ELUMELU ENTREPRENEURSHIP FORUM

At the end of the 12 week training programme, all selected start-ups will be invited to the boot-camp, which ends with the annual Elumelu Entrepreneurship Forum.

The forum will showcase the 1,000 African start-ups on the programme to a global audience of entrepreneurs, incubators, business, corporations, government, investors, academia and foundations, and exhibit the innovation and entrepreneurial potential that exists in all of Africa. It will be a time of engagement, networking, learning and inspiration for start-ups as they conclude their TEEP tenure, and a chance to hear from world renowned executives, scholars and entrepreneurs.

At the closing ceremony of the forum, the graduates from the programme will be presented with $5,000 seed funding and invited to become an Alumni member.

For more information, visit our website www.tonyelumelufoundation.org/teep

7 PILLARS OF THE TONY ELUMELU FOUNDATION ENTREPRENEURSHIP PROGRAMME - (4) BOOT-CAMP

This is an intensive two-day live action training event for the selected entrepreneurs with focus on equipping them with further business development skills and tool kits, and enhancing what was captured during the 12 week business skills training programme.

 

Entrepreneurs are expected to have improved on their initial business ideas and milestones by the end of the training.  This will be immediately followed by the Elumelu Entrepreneurship Forum.

All selected start-ups will be expected to attend this boot-camp (see Terms andConditions).


For more information, visit our website www.tonyelumelufoundation.org/teep

7 PILLARS OF THE TONY ELUMELU FOUNDATION ENTREPRENEURSHIP PROGRAMME - (3) ONLINE RESOURCES

TEEP start-ups, alumni and mentors will have access to our vast library of entrepreneurship and business development related resources via the online portal.  All course content and training materials used at the boot camp will also be accessible on the online resource centre.

 

 

Other relevant materials like articles, case studies, videos, research reports etc. that will enhance the competitiveness of TEEP start-ups in various locations across Africa will also be accessible through this channel and updated regularly.

 

Through the online resource centre, start-ups can schedule discussions forums/webinars/hangouts between themselves, mentors and world entrepreneur personalities to inspire them and share their experiences.

 

For more information, visit our website www.tonyelumelufoundation.org/teep