Deadline: March 1, 2019.
The Tony Elumelu Foundation (TEF) Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years.
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.
How do I apply for the programme?
All Applications must be submitted ONLINE through the APPLICATION PORTAL. You must complete an application form by answering a series of mandatory questions and uploading additional documents and identification materials. After submission, you will receive a confirmation email of receipt within 1 working day.
How is the Programme Selection Process?
1- How are selected applicants chosen to join the programme?
Selection of the applicants will take place from the close of the Application on March 1st, by the Tony Elumelu Foundation and an independent Selection Committee appointed by the Foundation, against the specified selection criteria.
2- By what criteria are the applicants to be judged?
All applications will be judged on 5 core criteria, which are:
- – Feasibility of the business idea.
- – Market Opportunity: Knowledge and understanding of the market, customers and competitors for their idea/business.
- – Financial Understanding: Understanding of the basic financial requirements of running a business, costs and revenues.
- – Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
- – Leadership Potential and Entrepreneurial Skills: Demonstrate leadership potential, capable of attracting people, customers and resources.
Successful applicants will be notified on the 22nd of March, via the email address designated in the initial application. The list of selected entrepreneurs will also be posted on the TEF Website.
If Applicants are offered a place in the Programme, Applicants will be expected to:
–complete a self-declaration form,
-provide proof of valid ID,
-provide a personal bank statement from the past 6 months,
- -provide a statement of current personal debts.
- -provide a reference from an employer, bank and/or academic institutions;
- -Provide business bank account details (For UBA present countries, it must be a UBA account)
Since inception we have received over 65,000 applications for the limited spaces on the programme, while we can only accept 1000 entrepreneurs each year. Here are a few possible reasons why your application was not successful:
- -You did not complete the application
- -Your business or idea is more than 3 years old
- -Your business or idea is not based in Africa
- -Your descriptions in one or more sections of the application was not clearly described
- -Your application did not meet other eligibility criteria
- -You scored low in one or more of the selection criteria.
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