The Tony Elumelu Foundation (TEF) is leading the initiative, which is a 10-year, $100 million commitment to find, develop, mentor, and invest in 10,000 African entrepreneurs by 2024.
Successful applicants will receive a 12-week online intensive training program, access to a world-class mentor, and US$5,000 in seed funds to prove the concept, as well as access to additional investment. They will also have access to the TEF startup network.
The goal is to create at least 1Million jobs and contribute over $10billion in revenue to the African economy.
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All citizens and legal residents of any of the 54 African countries are eligible to participate in the program. The proposed company must be registered in Africa and operate there.
Is there a minimum or maximum age requirement for applicants?
Yes. Applicants must be at least 18 years old and not be deemed a minor in their home country. There is no restriction on the maximum age.
All enterprises must be start-ups or early-stage companies with a lifespan of 0 to 5 years.
Your application must be only focused on ONE business. We recommend that you pick the greatest, most feasible/innovative company idea you have. Selected entrepreneurs are not allowed to apply for future cohorts of the program, even if their business idea or name has changed.
All applications must be submitted ONLINE. You must complete an application form by answering a series of mandatory questions.
After submission, you will receive a confirmation email of receipt.
Only one nominated person from the business or the partnership may join the program. You must have consent from all partners, and have an equal or majority share to participate.
The application form is also available in Arabic, French, and Portuguese.
The Tony Elumelu Foundation does not charge any applicants a fee for applying to the program.