February 8, 2016

Tony Elumelu Entrepreneurship Programme – $100 million to Create 10,000 African Entrepreneurs

Tony Elumelu Entrepreneurship Programme (TEEP)

Program Offered: Funding
Program Level: Entrepreneurship
Provider: Tony Elumelu Foundation
Country to Study in: African countries

Programme Description
Starting 2015, The Tony Elumelu Foundation is offering the Tony Elumelu Foundation Entrepreneurship Programme, TEEP, as a means of Funding for African Entrepreneurs. The programme will be offered annually for a period of 10 years.

TEEP, a Pan-African entrepreneurship initiative of the Tony Elumelu Foundation, is a multi-year programme of training, funding, and mentoring, designed to empower the next generation of African entrepreneurs.

The TEEP will offer 10,000 aspiring African Entrepreneurs an opportunity to benefit from its $100 million grant to create 1,000,000 jobs and contribute $10 billion in annual revenues to Africa’s economy over the next 10 years.

The Tony Elumelu Foundation Entrepreneurship Programme

This opportunity is open to all citizens (18 and above) and legal residents of all 54 African countries with businesses that operate in Africa.

Eligible groups
Citizens of ANY African country

Participating Institutions
The Tony Elumelu Foundation; AND
All African-based businesses

Number of awards
There are 1,000 positions available each year over a 10 years period.

Programme duration
The programme will identify and help grow 10,000 start-ups and young businesses from across Africa over the next 10 years. These businesses will in turn create 1,000,000 new jobs and contribute $10 billion in annual revenues to Africa’s economy.

Programme benefits
The 10,000 start-ups selected from a pool of applicants across Africa will participate in a comprehensive programme which will include;
  • A customized 12-week business skills training course
  • Start-Up Enterprise Toolkit
  • Mentoring
  • Resource Library
  • 2-Day Boot Camp
  • Seed Capital Funding
  • Elumelu Forum
  • Alumni Network
Method of Application
All applications must be submitted online through the official TEEP Portal.

Answer a series of mandatory questions and upload additional documents and identification materials. You will receive a confirmation email within 1 working day of submission.

It is important to visit the official website (link to it is below) for more details about the program, including eligibility and the application and selection processes.

Interested entrepreneurs will be able to submit their applications to join the programme as from 1st January 2016 until 1st March 2016

In 2015 (the first edition), TEEP empowered 1,000 African entrepreneurs, selected from over 20,000 applicants, with start-up investment, active mentoring, business training, an entrepreneurship boot camp and regional networking across Africa.

Entrepreneurs, with an average age range of 21-40, from 51 African countries completed the programme and received $5,000 in seed capital for their start-up businesses.

The Tony Elumelu Foundation invested a total of $4,860,000, including $1,405,000 in agriculture; $410,000 in education and training; and $365,000 in manufacturing. The sector-agnostic programme funded start-ups across a further 20 industries, all based in Africa.

Nigerian billionaire investor and philanthropist Tony Elumelu has committed $100 million to create 10,000 entrepreneurs across Africa over the next 10 years. Elumelu made the commitment during a press conference in 2014 in Lagos to announce the launch of The Tony Elumelu Foundation Entrepreneurship Programme (TEEP).

The programme will be backed by a $100 million grant from the Tony Elumelu Foundation, an African-based, African-funded philanthropic organization that supports entrepreneurship in Africa by enhancing the competitiveness of the African private sector.

The Foundation is solely funded by Tony Elumelu, a billionaire who has derived an estimated $1 billion fortune from banking, energy, investments and real estate according to FORBES’ recent ranking of Africa’s 50 Richest People.

Application Deadline: 1 March 2016
Open to International Applicants: No (ONLY Africans)

More Scholarship Information and Application

Related: List of Awards for International Students

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