Tony Elumelu Foundation (TEF) has announced that the portal for the 2020 TEF entrepreneurship Programme would open on January 1, 2020 and will begin to accept applications for the 2020 cohort.
The Tony Elumelu Foundation (TEF) — an African private-sector-led philanthropy dedicated to empowering African entrepreneurs.
Applications are made through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation.
The TEF Entrepreneurship Programme is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than 3 years existence, operating in any sector. Successful applicants will join the over 9,000 current beneficiaries, from 54 African countries, and receive business training, mentoring, a non-refundable $5,000 of seed capital and global networking opportunities.
Last year, the Foundation received about 216,000 applications, with 42% coming from women entrepreneurs, from every country on the continent.
The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 young African entrepreneurs. The goal is to create millions of jobs and the revenue required for the sustainable development of the continent, implementing the philosophy of Africapitalism, which positions the private sector as the growth engine for Africa and emphasises the importance of creating social and economic wealth.
The TEF programme started in 2015 and the 2020 cohort would be the 6th edition.
According to the Foundation’s 2018 Impact Report, 70% of the total number of businesses in its alumni network were still operational two years after benefitting from the Programme. The report also identified an increase of 189% revenue generated and 197% increase in the number of additional jobs created by beneficiaries post-graduation from the Programme, as well as a 100% commitment to the Sustainable Development Goals.
As you wait for the portal to open on the 1st of January, 2020, I enjoin interested applicants to start the preparation now.
Study the past questions and provide answers to the questions. Take time to review and rework your and once the portal is opened, you will be among the first to submit.
There may be variations in the questions but that won’t be much.
Visit http://tefconnect.com/ to register if you have not done so.
If you need any support in answering those questions, don’t hesitate to get in touch with me