Applications are now open for the Tony Elumelu Foundation Grant 2024.
The TEFconnect application form is now available, and applications are being accepted! The Tony Elumelu Foundation is a non-profit empowerment organization dedicated to introducing African youths to the entrepreneurial world so that they can become an engineering force for the continent’s DEVELOPMENT.
Founded in 2010 by Nigerian investor Tony Elumelu, the foundation has been able to champion thousands of youth across Africa into creating their jobs for themselves and others by delving into the entrepreneurial field.
The foundation, backed by Tony Elumelu investment company heirs holdings, is currently active in all 54 African countries and has empowered at least 9000 young entrepreneurs since its launch in 2015 the foundation would have surpassed its pledge of empowering 10000 youths in ten years if the program had not been suspended last year because of the covid-19 pandemic. They have, however, come up with an ingenious framework to beat the target this year.
The foundation typically selects its candidates from a host of applications received from all 54 Africa countries. The selected candidates are then trained and mentored throughout a 12-week program.
At the end of the program, the finalists are then funded with a non-refundable first stage seed capital of $5000 to start up their proposed business. A second stage returnable investment will then be made open to candidates whose businesses turned out successful.
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The TEF foundation empowerment program has been carried out yearly since its launch in 2015,.
Note, For this edition of the TEF connect program, the foundation has decided to carry out the training and funding of 2000 candidates. This includes the 1000 candidates from the 2020 batch that did not commence last year and the new set of 1000 candidates that will be shortlisted this year. However, unsuccessful applicants from last year will not be allowed to apply this year to give new applicants a fair opportunity to be selected.
- Interested applicants must have already existing innovative businesses in the gestation stage of 0 to 3 years or have a very viable business idea. The business or business idea must also be profitable.
- The applicant must be an African startup entrepreneur that has a business or business idea based in Africa.
- Applicants with businesses will be counted valid as long as they meet the criteria irrespective of the sector.
- Applicants with Businesses or those with viable business ideas must make sure the business can create employment.
Duration and Benefits
- Seed Capital Phase (Funding) of $5,000.
How to Apply
Interested and qualified candidates should apply using the button below or click this link
Deadline: 1st March, 2024
Start your Application
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