The Tony Elumelu Foundation (TEF) has announced that it is now accepting applications for its 4th cohort of Afrikan startups. One of the things that the selected startups will receive is 12 weeks of what TEF call an "intensive online training which guides creating and managing a business."
The TEF entrepreneurship programme is in its 4th cycle forms part of Tony O. Elumelu's 10-year, $100 million commitment to identify, train, mentor, and fund 10,000 African entrepreneurs by 2024.
"When we launched the TEF Programme and committed $100 million, I knew we would create impact, but I never imagined it would be of this magnitude. We've unleashed a movement of African entrepreneurs - a force so strong, I am confident they will collectively transform Africa. We need Africa's best and brightest to grow their businesses and build our continent," said Elumelu.
The startups selected to participate in the 4th cohort will also receive:
Mentoring: A mentor to guide during the early transformation stages of the startup.
Funding: $5,000 in seed capital to prove the concept, plus access to further funding.
Network: Access to a network of Afrikan startups and TEF's own global contacts.
According to the TEF programme organizers, 1,000 entrepreneurs will be selected based on the viability of their idea, including market opportunity; financial understanding; scalability; leadership and entrepreneurial skills.
"We encourage women, French and Portuguese speakers to apply. Our 3,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you," said Parminder Vir OBE, CEO at the Tony Elumelu Foundation.
Other criteria to be used to select the eligible startups includes:
The business must be based in Afrika.
The business must be for profit.
The business must be 0-3 years old.
Applicants must be at least 18 and a legal resident or citizen of an Afrikan country.
If you are interested you can submit your registration via the TEF application portal.
Cover image credit: African Development Bank.