“I believe in empowerment that can change the face of Africa as we know it. African entrepreneurs are our future leaders and I am passionate about giving them the opportunity to succeed." - Tony O. Elumelu, Tony Elumelu Entrepreneurship Programme Founder
The Tony Elumelu Entrepreneurship Programme (TEEP), an initiative of the Tony Elumelu Foundation designed to fund 10,000 African entrepreneurs over a period of 10 years, is calling on startups that are based in Africa to apply for the programme, after the successful inaugural cycle in 2015.
The programme, which is open to citizens and legal residents of all African countries, has its application portal currently open and it will remain open till Midnight West African Time on March 1, 2016. New business ideas which have been in existence for less than three years can also apply.
Successful applicants who complete the programme will receive the local currency equivalent of Naira 850,000 as nonreturnable seed capital, and are eligible for a further Naira 850,000 in the form of either debt or equity, depending on business need and other criteria.
Aside the seed-funding that the selected applicants would receive, they would also get a couple of weeks training on setting up and managing businesses as well as mentoring. And there are also external funding opportunities from platform provided by the foundation.
They will also join the existing cohort of 1,000 entrepreneurs selected from 51 African countries the inaugural cycle which received over 20,000 applications across the continent.
Selected entrepreneurs also have access to networking opportunities with other entrepreneurs from other African countries, thereby accessing more business opportunities across the continent.
Fill in the application here if you are interested.