Have you ever heard of The Tony Elumelu Foundation Entrepreneurship Program 2021? This entrepreneur program is designed by the Tony Elumelu Foundation, to offer Ten thousand African Entrepreneurs an opportunity to benefit from the One Hundred Million Dollar grant to create 1,000,00 jobs.
The TEF is an Africa non-profit organization founded in 2010, by Tony Onyemaechi Elumelu. The foundation is intent on charting a new course for African philanthropy and does not operate as a grant-awarding organization but provides a holistic system of effective support for entrepreneurs.
The Tony Elumelu Foundation Entrepreneurship Program 2021
The foundation aims are to promote excellent performance in business leadership across Africa. Last year, the Foundation received about 216,600 applications, with 42% coming from women entrepreneurs from all over Africa.
This program is not for an academic level or qualification. Anybody with low-level qualifications can apply to the TEF program. The TFE program helps to assist young entrepreneurs around Africa to start their enterprises, creating thousands of job opportunities.
The 2021 TEF program is available for young entrepreneurs from all over Africa and it is hosted in Nigeria.
What do Entrepreneurs Gain from TEF Entrepreneurship Program?
The TEF Entrepreneurship Program 2021 offers a cash benefit of $5000 to successful participants. All entrepreneurs have business training opportunists, Mentorship, Global Networking Opportunities.
How to Apply for the TEF Program
Candidates interested to apply for the Tony Elumelu Foundation Program 2020 should visit the online Application Portal.
- All candidates must complete the application form by answering a series of compulsory questions and uploading additional documents and identification materials.
- Candidates must register with your email address to enable an email confirmation of receipt within one working day.
- You must submit all applications online through the application portal.
- Anybody interested in the TEF program must have a UBA Business Account.
- Anybody asking for money to register for the TEF program is a fraud.
The TEF Judges Selection Process
The TEF Judges are judges that are to judge your application base on some of your criteria’s including:
- The market opportunity for Idea/business.
- Financial understanding.
- Leadership potential and Entrepreneurial skills.
Note: These are the criteria the Judges will use to judge you when you apply for the TEF program.
The Importance of TEF Program
The importance of the TEF program is the selection from a pool of applicants across Africa who will participate in a comprehensive program which will include:
- Resource Library.
- A Customized 12-Week Business Skills Training Course.
- 2-Day Boot Camp.
- Seed Capital Funding.
- Tony Elumelu Forum.
- Alumni Network.
- Start-Up Enterprise Toolkit.
The TEF Additional Information you must supply when your business is selected. If candidates attain a place in the TEF program the candidates are to:
- Provide proof of valid ID.
- Complete a self-declaration form.
- Provide a statement of current personal debts.
- You have to provide a reference from an Employer, Bank, or Academic institution.
- Provide Business Bank Account Details: And it must be a UBA Account.
Reasons Why Some Applications Are Not Successful
There are some reasons why some applications are not selected. Below are some reasons why some applications are not successful:
- Your Business Idea is old.
- Your application is not complete.
- The Application did not meet up the Eligibility Criteria.
- Your selection Criteria Scored is Low.
- Your Business Idea is not Based on Africa Policy.
The TEF Application Deadline
The Tony Elumelu Foundation Entrepreneurship Program form ends on 31st March 2021.