The Tony Elumelu Foundation (TEF) has opened applications for the 2022 Tony Elumelu Foundation Entrepreneurship Programme where African entrepreneurs from the 54 countries with business ideas or existing businesses under five years can apply for $5,000 seed capital, which will provide start-ups with training, mentorship and US$5,000 in funding.
The program, led by the Tony Elumelu Foundation (TEF), is a 10-year $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024, and the 2022 Tony Elumelu Foundation Entrepreneurship Program is the eighth consecutive edition.
African entrepreneurs with business ideas or existing businesses less than 5 years old are now encouraged to apply for $5,000 in start-up capital, mentorship, business training and more through the 2022 Tony Elumelu Foundation’s Entrepreneurship program.
In 2015, the TEF Entrepreneurship Program, the only African-funded entrepreneurial catalyst of its kind, provided 15,847 African entrepreneurs with a non-refundable seed capital of US$5,000 each; twelve weeks of business administration; Access to experienced mentors; and belongs to the largest business ecosystem in Africa.
In 2021, the Tony Elumelu Foundation paid $24.75 million to 5,000 African entrepreneurs in Africa for its 2021 entrepreneurship program amid the outbreak of the Covid19 pandemic in Africa.
Across Africa, beneficiaries of the Tony Elumelu Foundation’s entrepreneurship program are creating and developing innovative businesses that have collectively created more than 400,000 direct and indirect jobs.
As one of the leading advocates of entrepreneurship in Africa, the Tony Elumelu Foundation helps women and men across Africa through entrepreneurship to spur economic growth, reduce poverty and create jobs.
The foundation’s mission is based on the philosophy of African capitalism, which positions the private sector as a key factor in creating economic and social well-being in Africa. Through TEFConnect, the foundation’s own digital platform, it has provided training support, consultancy and market link to more than 1.5 million Africans.
How To Apply For The 2022 Tony Elumelu Foundation US$ 5000 Grant
The 2022 Tony Elumelu Foundation Entrepreneurship Program is open to entrepreneurs from all over Africa. It is for new businesses or an existing small business with less than 5 years of operation. Prospective applicants should apply at www.tefconnect.com, a digital networking centre for African entrepreneurs.
Applications are currently being accepted for the final round, with selected applicants receiving 12 weeks of intensive online training, access to world-class mentors, $ 5,000 in seed funding to test the concept, and additional funding. You can also access the TEF boot network.
To date, the program has trained more than 15,000 African entrepreneurs, connected them with prominent figures, investors and supporters from the public and private sectors, raising their business profile and increasing their opportunities.
2022 Application Dates
Start Date: January 1, 2022
End Date: March 31, 2022
Interested entrepreneurs can apply here For the 2022 TEF Flagship Programme
Read here for All You Need To Know About 2022 Tony Elumelu Foundation $5,000 Business Grant Entrepreneurship Programme and How to Answer the 2022 Questions.