Tony Elumelu Entrepreneurship Programme (TEEP) 2018 Call For Applications from Budding Entrepreneurs
By Kemi Mobuse - Monday, January 22, 2018
Those above were the words of Tolu Elumelu when he came up with the initiative to help Entrepreneurs and made in Nigeria Business Owners develop their businesses as well as provide training, mentoring, funding and network access for the business owners.– Tony O. Elumelu (CON
The funding initiative is part of the
10-year $100milllion commitment made by the Tony Elumelu Foundation to train,
mentor and fund 10,000 African entrepreneurs in every African country.
Since inception, the Programme has assisted nearly 3,000 entrepreneurs and
created hundreds of jobs across the continent.
TEEP 2018 ELIGIBILITY REQUIREMENTS
- Business
must be based in Africa
- Business
must be for profit
- Business
must be 0-3 years’ old
- Applicants
must be at least 18 and a legal resident or citizen of an African country
BENEFITS OF THE TONY ELUMELU
ENTREPRENEURSHIP PROGRAMME (TEEP)
The Programme provides critical tools for entrepreneurial
success, including:
- Training:
12 weeks of intensive training on setting-up and managing businesses
- Mentoring:
A mentor will guide successful applicants in creating a robust business
plan
- Seed
Capital: $5,000 in non-returnable seed capital and access to a $5,000
convertible loan
TONY ELUMELU ENTREPRENEURSHIP
PROGRAMME – TEEP – FUNDING
All entrepreneurs who successfully complete the
12-week Start-up Enterprise Toolkit (learning) programme, submit a business
plan for review, as well as required documentation and a business bank account,
will qualify for the first stage non-refundable seed capital of $5,000.
Funding Options for the Tony Elumelu
Entrepreneurship Programme (TEEP)
All start-ups who successfully complete the
programme will be eligible for funding.
There are two stages of funding available to
start-ups:
- First
stage seed capital funding of $5,000 – a non-returnable investment
dispersed at the 12-week start-up enterprise toolkit (learning) programme,
upon submission and review of a business plan. Please see Terms and
Conditions for clarification.
- Second
stage capital ‘investment’ of $5,000 – for qualifying startups that have
progressed their business
JUDGING CRITERIA – TONY ELUMELU ENTREPRENEURSHIP
PROGRAMME – TEEP
All applications will be judged on 5 core
criteria, which are:
- Feasibility
of the business idea.
- Market
Opportunity: knowledge and understanding of the market, customers, and
competitors for their idea/business.
- Financial
Understanding: understanding of the basic financial requirements of
running a business, costs, and revenues.
- Scalability:
Demonstrates potential for replication and growth of their product or
service to create jobs and wealth.
- Leadership
Potential and Entrepreneurial Skills: Demonstrate leadership potential,
capable of attracting people, customers, and resources.1,000 entrepreneurs
will be selected based on the viability of their idea, including market
opportunity; financial understanding; scalability; and leadership and
entrepreneurial skills demonstrated in the application.
For more information, application forms and
complete details, – Apply now for the Tony Elumelu Entrepreneurship Programme
(TEEP) – Tony Elumelu Foundation Entrepreneurship Programme
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