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TEF opens entry for $100m entrepreneurship programme

The Tony Elumelu Foundation says it is now accepting applications for business ideas that can transform Africa.

The programme, which is in its fourth cycle, is TEF’s 10-year, $100m commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024, according to a statement by the foundation.

The foundation said prospective applicants could visit its website to apply before the expiration of the deadline on March 1, 2018.

The statement read in part, “The programme provides critical tools for business success, including: 12 weeks of intensive online training which guides entrepreneurs on creating and managing a business; mentoring: a world-class mentor to guide during the early transformation stages of the business; funding: $5,000 in seed capital to prove the concept, plus access to further funding; and network access to the largest network of African start-ups and TEF’s own global contacts.”
According to the statement, 1,000 entrepreneurs will be selected based on the viability of their ideas, including market opportunity, financial understanding, scalability, and the leadership as well as entrepreneurial skills demonstrated in the application.

Listing the criteria, the statement noted that the business must be based in Africa, set up for profit, be between zero and three years, and prospective applicants be at least 18 years old and a legal resident or citizen of an African country.

For more details, visit www.tonyelumelufoundation.org

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