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Funding and Support for African Entrepreneurs: $100 Million TEF Grant Up for Grab (Apply Now)

Funding and Support for African Entrepreneurs: $100 Million TEF Grant Up for Grab (Apply Now)

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What is Tony Elumelu Entrepreneurship Foundation?

The Tony Elumelu Foundation (TEF) is Africa’s foremost philanthropic organization dedicated to empowering entrepreneurs across the continent. In their quest to discover the most groundbreaking business ideas, the foundation invites applications from innovators from all corners of Africa. Funding and Support for African Entrepreneurs: $100 Million TEF Grant Up for Grab (Apply Now)

The TEF Entrepreneurship Programme is an opportunity open to individuals with either fresh startup concepts or existing businesses that are less than three years old, operating in any sector.

If selected, entrepreneurs will join the ranks of over 9,000 beneficiaries from 54 African countries. In addition to business training and mentorship, successful applicants will also receive a non-refundable seed capital of $5,000 and gain access to invaluable global networking opportunities.

This remarkable initiative represents a 10-year, $100 million commitment to identify, train, mentor, and fund 10,000 young African entrepreneurs.

The ultimate goal is to generate employment opportunities and foster sustainable development across the continent. The foundation embraces the philosophy of Africapitalism, which emphasizes the critical role of the private sector as the catalyst for economic growth and the creation of social and economic wealth.

Eligibility

To be eligible for this phenomenal program, you must possess a business idea or have established a startup within the past three years, operating in any sector and in any country across Africa.

Selected entrepreneurs stand to benefit from a range of advantages, including world-class business management training, mentorship from industry experts, non-refundable seed capital of $5,000, and access to key networks and markets.

Additionally, this program presents unparalleled global networking opportunities that can further propel your business forward. Eligibility for the program extends to citizens and legal residents of any of the 54 African countries.

However, it is essential that the proposed business is registered and operates within Africa.

Applicants must be at least 18 years old and not considered minors in their country of residence. There is no upper age limit for participation. The foundation is seeking exceptional African entrepreneurs who run existing start-ups with high growth potential, as well as aspiring business owners with transformative ideas. It is important to note that all businesses must either be business ideas or early-stage companies within the range of zero to three years old. Furthermore, your application must focus on a single business endeavor.

The TEF Entrepreneurship Programme places special emphasis on promoting diversity and inclusivity. They are particularly interested in strengthening the representation of French, Arabic, and Portuguese speakers, as well as female entrepreneurs. Please be aware that the program is not open to research institutions, faith-based organizations, value-adding trading companies, government contractors, or businesses that are not located in Africa.

Additionally, businesses that may have adverse effects on the environment, lives, and property are not eligible. It is crucial that all business ideas are for-profit and the authentic work of those submitting.

Read 7 Small Business Ideas for Women in 2023

Application Duration for Tony Elumelu Entrepreneurship Foundation Programme

The deadline for applications is March 1, 2024. To submit an application, click on the provided link – https://tefconnect.com. For comprehensive guidelines on how to successfully apply for the grant, please refer to the guidelines linked above.

Apply now and seize this extraordinary opportunity to elevate your business to new heights with the support of the Tony Elumelu Foundation Entrepreneurship Programme. Empower yourself, make a lasting impact, and contribute to the progressive development of Africa.

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