2022 TEF Entrepreneurship Programme - Everything You Need To Know

2022 TEF Entrepreneurship Programme: Everything You Need To Know

The 8TH Edition of the TEF Entrepreneurship Programme (2022) is open for applications.

The TEF Entrepreneurship Programme is a $100 million pledge from the Elumelu family to provide training, mentoring and funding to 10,000 African entrepreneurs over a 10-year period.

The aim is to create at least 1 million jobs and contribute more than $10 billion in revenue to the African economy.

Through its flagship entrepreneurship program, the foundation supports African entrepreneurs and the entrepreneurship ecosystem in 54 African countries.

The TEF training program is aimed at entrepreneurs based on their demonstrated skills and knowledge.

The training aims to educate you and enable you to start or expand your business to meet the challenges that entrepreneurs face in the African continent.

The focus of the program is on interactive and practice-oriented learning, which is also useful after the training period.

NOTE: Successful completion of the training program is a mandatory requirement for submitting and reviewing your business plan, participating in the pitching competition, and receiving the seed capital.

The Application Form

The application form consists of four parts:

  • Personal information
  • Business information
  • Cognitive assessment
  • Declaration section

In order to ensure a transparent application process, all applicants must be in possession of a valid official ID and state their name in the TEFConnect application form exactly as it is on the identity card.

All Applicants Will Be Required To:

  • Fill in all required fields in the TEFConnect online application form.
  • Submit the form
  • Include all requested documents (valid ID and main photo) and upload the required documents
  • Waiting for comments from the foundation.

NOTE: TEFConnect can only be accessed through an email account. It is important that all candidates register with an e-mail address to which they have regular access.

2022 TEF Entrepreneurship Programme: Everything You Need To Know
TEF Entrepreneurship Programme

What To Expect From The Program?

The TEF Entrepreneurship programme identifies top African entrepreneurs who have new companies or business ideas with growth potential. The TEF Entrepreneurship Program takes place in the various phases listed below:

  • Application phase
  • Training and mentoring phase
  • Presentation phase of the business plan
  • Start phase
  • Start-up phase

The Application Phase

It runs from January 1st to March 31st. Applicants are required to complete the application form, which contains information about you and your company.

This is followed by multiple-choice questions on the cognitive and psychometric assessment. The last part of the application form is an explanation page.

Based on the answers of the candidates in the evaluation area, the application is evaluated and the admission status for the candidate is displayed.

After the application period has expired, the eligible applicants will be assigned to the relevant training program as follows:

Preparatory

That means you don’t have the skills to start a business. You are completing a general training course on TEFConnect. However, you are not entitled to tutoring or start-up capital.

Beginner/Start-up

This means that you are a beginner according to the founding profile. You will take part in the beginner training modules and have access to top-notch mentors throughout the program.

Innovator/Intermediate

This means that you are portrayed as an intermediary entrepreneur. You have the potential to become a successful entrepreneur. You will take part in the Intermediate training modules and have access to top-notch mentors throughout the program.

Disruptor/Advanced

This means that you are or identify a natural or seasoned entrepreneur. You will take part in the Advanced training modules and have access to top-notch mentors throughout the program.

The Training And Coaching Phase

Once you’ve been selected and placed on the right training pathway, you’ll take part in a virtual mentoring program to learn more about the process, and we’ll share the schedules and resources that will help you succeed.

You will take part in our rigorous business training and coaching, a balanced mix of self-paced e-learning and webinar-style training. There will be multiple-choice questions weekly to monitor your performance.

At the end of the training phase, entrepreneurs are pre-selected based on their performance.

Submission Of The Business And Financial Plan Phase

At the end of the training phase, you will be asked to summarize all lessons learned in a single cohesive document. You will receive a template for a business and financial plan; will be in the online resource library.

This template will help you create the first draft of your business plan. write a business plan. After THE BUSINESS TRAINING AND SUBMISSION OF THE BUSINESS PLAN, only successful candidates (who complete the MCQs and score above the threshold and present a business plan) can proceed to the next step: the PITCHING COMPETITION.

The Pitching Phase

This is the opportunity to put your business knowledge to the test and convince the judge of your company’s profitability. In the presentation phase, entrepreneurs present their ideas virtually, which are evaluated by a jury.

Only selected candidates, based on pitching competition performance scores, will receive start-up funding and have access to mentoring and alumni networks to support their business ambitions.

Other factors to consider when selecting the final entrepreneurs include:

  • Regional distribution
  • Gender Propagation
  • Partner requirements

If you have successfully completed all of the required training requirements and submitted a business plan, but were not successful after the competition, you can apply again the following year.

The Seed Capital Phase

All entrepreneurs who have successfully completed all of the above steps and selected them after the initial phase must open business accounts and the seed capital funding will be deposited into the created accounts. An entrepreneur eligible for seed funding will receive a CERTIFICATE OF COMPLETION AND SUCCESS from the foundation.

Go here if you want to know how to Answer the TEF 2022 Application Questions

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