Tony Elumelu Foundation Entrepreneurship Programme (TEEP) 2024

Tony Elumelu Foundation Entrepreneurship Programme (TEEP) 2024

Applications are currently being accepted for the Tony Elumelu Foundation Entrepreneurship Programme (TEEP). The 2024 TEEP is geared towards facilitating the economic revival of small and medium-sized enterprises (SMEs) and aspiring African entrepreneurs, in response to the disruption caused by Covid-19 on economic activities.

With a decade of impactful presence, the Tony Elumelu Foundation is empowering a fresh generation of African entrepreneurs through its TEF Entrepreneurship Programme. Successful candidates receive top-notch business training, mentorship, non-refundable seed capital up to $5,000, and access to global networking opportunities. This opportunity is open to entrepreneurs across Africa, including both startup ventures and existing young businesses operating in any sector.

Eligibility:

• The Entrepreneurship Programme seeks exceptional African entrepreneurs with startups or business concepts with growth potential.
• Eligible Countries: African countries

Benefits:

• The program’s training is designed to equip and empower entrepreneurs in launching or expanding their businesses, addressing challenges faced across the African continent.
• The curriculum emphasizes practical, iterative learning that remains valuable even beyond the training period.

Programme Phases:

TEF Entrepreneurship Programme TEEP 2024 will comprise the following stages:

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

The Application Phase:

This phase will run from January 1 to March 31. Upon closure of applications, eligible candidates will be placed in one of the following training paths:

PREPARATORY:

For individuals lacking the necessary skillset to start a business. They will undergo general training on TEFConnect but won’t be eligible for mentorship or seed capital.

START-UP/ BEGINNER:

For those categorized as business startup beginners. They will undergo beginner training modules and have access to esteemed mentors during the program.

INNOVATOR/ INTERMEDIATE:

Targeted for identified intermediate-level entrepreneurs with potential for success. They will go through intermediate training modules and gain access to top mentors.

DISRUPTOR/ ADVANCED:

Designed for seasoned or naturally talented entrepreneurs. They will engage in advanced training modules and connect with top mentors.

THE TRAINING AND MENTORSHIP PHASE:

Shortlisted candidates will participate in intensive business training and mentorship sessions aligned with their training path. There will be quizzes to track progress, a virtual orientation session, shared timelines, and resources to support success. Shortlisted entrepreneurs will join peer-to-peer support groups.

THE BUSINESS PLAN AND FINANCIALS SUBMISSION PHASE:

After training, applicants will consolidate their learnings into a comprehensive business plan. A provided business & financial plan template will aid in creating this plan. Successful completion of this phase will lead to the PITCHING COMPETITION.

THE PITCHING PHASE:

• Entrepreneurs will present their ideas to a panel of judges, aiming to showcase their business feasibility. Only successful candidates from this stage will progress to receive seed capital funding and access to the Alumni network.
• In case a candidate successfully completes the required training and submits a business plan but doesn’t succeed in the pitching competition, they will receive a training completion certificate and can reapply the following year.
• Please note, this phase is crucial, and all shortlisted entrepreneurs must complete it to be eligible for SEED CAPITAL.

THE SEED CAPITAL PHASE:

Entrepreneurs who have successfully completed the preceding steps will open business accounts to receive seed capital. Those eligible will receive a CERTIFICATE OF COMPLETION AND ACHIEVEMENT from the Foundation.