The Tony Elumelu Foundation (TEF) Entrepreneurship Programme is open to startup entrepreneurs, with innovative business ideas or businesses that have been in existence for less than 3 years, in any sector, from across Africa.
What the TEF Entrepreneurship Programme Offers:
- Business Training
- $5,000 non-refundable seed capital
- Global Networking Opportunities
- Startup African entrepreneurs based in Africa
- Business at the idea stage are welcome, as well as innovative businesses that have been in existence for less than 3 years
- Business can be in any sector
- Business must have potential to create jobs and revenue on the continent
- January 1, 2020: Application portal opens
- March 1, 2020: Application portal closes; initial longlist is announced to proceed for business training
- April – May: Training & mentorship
- June: Pan-African pitching competitions
- July: Announcement of finalists at the TEF Forum
- August – September: Background Check
- August – December: Seed Funding Disbursement
- Following applications, entrepreneurs will undergo business training.
- Shortlisted candidates will prepare and submit an updated business plan
- Top performing entrepreneurs will be shortlisted to go through a pitching phase in all 54 African countries, in English, French, Portuguese or Arabic.
- Top performers will be selected to receive the $5,000 seed capital.
- Finalists to receive $5,000 seed capital will be announced at the TEF Forum
The assessment gives the Foundation an indication of your personality type. It gives them a better indication of how best they can make an impact in your start-up journey. The assessment will take approximately 1hour to complete. You can stop and save your personal details information online and continue later but you cannot save and continue your assessment later.
There are 2 sets of assessments i.e.
1. Psychometric / Personality tests
2. Business and Financial knowledge assessment
After taking the assessment, the system scores you and highlights your segment/path for training. All entrepreneurs that apply will go through a set of training. Training is delivered based on the entrepreneur segment. During this training, you will take tests/quizzes at the end of each module. Your assigned training path will determine whether you will have a chance to get seed capital or not.
Assigned training path
Based on your answers to the assessment questions, the system profiles you and places you in the appropriate training path as follows:
Greenhorn (Level 1)
This means you are a starter according to the business start-up profiling. You will go through the general training on TEFConnect. You will, however, not be eligible for mentorship or seed capital.
Innovator (Level 1)
This means that you have been profiled to be an intermediate entrepreneur. You have a good potential to be a successful entrepreneur. You will go through the Intermediate training modules and you will be assigned a mentor during the programme. Based on your performance through the training programme, you will stand a chance to pitch your business in person to the set of judges for final selection to receive seed capital.
Disruptor (Level 2)
This means that you are or identified to be natural or a seasoned entrepreneur. You will go through the Advanced training modules and you will be assigned a mentor during the programme. Based on your performance through the training programme, you will stand a chance to pitch your business in person to the set of judges for final selection to receive seed capital.
· Innovators and Disruptors stand a chance to receive the same value of seed capital.
· Assessment can only be taken once. Do not take it if you are not ready.
· If you are unable to complete the assessment before the time is up, assessment will be made based on the answered questions.