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The TEF Founder, Tony O Elumelu, today is hosting an event to unveil the names of 4,949 entrepreneurs from the 54 countries in Africa that are eligible for the foundation’s non-refundable $5,000 seed capital in 2021.
The Tony Elumelu Foundation, TEF is a philanthropist group that is empowering thousands of young Africans through an annual Entrepreneurship Programme.
Since its inception, TEF receives thousands of applications from young entrepreneurs who want to scale up their enterprises.
Over 200 thousand entrepreneurs applied and were trained for TEF 2021 entrepreneurship programme.
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Entrepreneurs who were accepted after the 2021 application into the programme had four formation stages to complete;
- Training & Mentorship
- Business Plan
- Submission Pitching
- Seed Capital
The first three stages of the TEF programme help position young Africans for economic growth on the continent while leveraging skills, creativity, and innovation.
TEF entrepreneurship programme engages them in a wide range of business management training and mentorship exercise.
The selection process for TEF entrepreneurs involves weeks of rigorous assessment. In the end, TEF organisers select the entrepreneurs with the best business ideas for the grant.
The fund empowers each entrepreneur to operationalize their ideas and improve their businesses.
Tony Elumelu Foundation (TEF) Entrepreneurship Programme 2021
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In addition to the entrepreneurs unveiled today, TEF has funded 10, 898 entrepreneurs across Africa, as well as, created thousands of jobs on the continent through this intervention.
