The Tony Elumelu Foundation (TEF), Africa’s biggest philanthropy for entrepreneurs, has announced that the fourth year of its entrepreneurial development programme, The Tony Elumelu Entrepreneurship Programme (TEEP) will open January 1, 2018.
The TEF in a statement said the programme which nurtures outstanding start-ups across the continent will begin accepting applications from the turn of the new year via the website: www.tonyelumelufoundation.org.
The programme is part of the foundation founder’s $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs in 10 years; creating 1,000,000 jobs and $10 billion in social and economic wealth.
In the past three years of its existence, the programme – the only African-funded business development initiative – has invested a total of $14,235,000, including $4,270,500 in agriculture; $1,285,000 in ICT, $1,245,000 in education and training; and $7,400,000 more in start-ups across 19 other sectors.
“As an entrepreneur myself, I understand what it feels like to yearn for a lifeline, to hope for a ‘big break. In turn, I have set out to institutionalise luck with the Foundation and give back to the continent of Africa. I am pleased the programme is already unleashing Africa’s entrepreneurs and driving economic transformation,” said TEF Founder, Tony O. Elumelu.
The programme is open to citizens and legal residents of all African countries with businesses based in Africa, less than three years old, including new start-ups.