Mark your calendar for the deadline: You have until 1st March 2024 to apply!
You now have the exciting opportunity to apply for the Tony Elumelu Foundation Entrepreneurship Programme (TEEP).
In 2024, TEEP is focusing on you, aiming to boost the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs like yourself, especially after the setbacks caused by Covid-19.
Celebrating a decade of significant impact in 2020, the Tony Elumelu Foundation is committed to empowering you, the next generation of African entrepreneurs, through the TEF Entrepreneurship Programme.
As a successful applicant, you will receive world-class business training, mentorship, a non-refundable seed capital of up to $5,000, and unparalleled global networking opportunities.
You, as an entrepreneur from anywhere in Africa, whether running a new start-up or an existing young business in any sector, are invited to apply to the Programme.
he Entrepreneurship Programme seeks out exceptional African entrepreneurs like you, who have start-ups or business ideas with significant growth potential.
You’re eligible if you’re from any African country.
- The training is custom-designed to empower you in launching or expanding your business, tackling the unique challenges faced by entrepreneurs across Africa.
- The curriculum emphasizes practical, ongoing learning that remains beneficial long after the training ends.
The TEF Entrepreneurship Programme TEEP 2024 will unfold in various stages, as detailed below:
- Application Phase
- Training &Mentorship Phase
- Business Plan Submission Phase
- Pitching Phase
- Seed Capital Phase
THE APPLICATION PHASE
This opportunity runs from January 1 to March 31.
After applications close, you, as an eligible applicant, will be assigned to a suitable training path as follows:
This indicates that you currently lack the skillset needed to start a business.
You will participate in the general training on TEFConnect. However, you won’t be eligible for mentorship or seed capital.
This signifies that you’re a beginner in business start-up terms.
You will engage in the beginner training modules and have access to world-class mentors during the programme.
This categorizes you as an intermediate entrepreneur.
You show great promise in becoming a successful entrepreneur.
You will be part of the Intermediate training modules and have the opportunity to connect with world-class mentors during the programme.
This indicates that you are recognized as a natural or seasoned entrepreneur.
You will be engaged in the Advanced training modules and will have access to world-class mentors throughout the programme.
THE TRAINING AND MENTORSHIP PHASE
Once you’re shortlisted and assigned to the right training path, you’ll be eligible to participate in our intensive business training and mentoring sessions.
Your progress will be monitored through multiple choice questions.
You will participate in a virtual orientation program to understand more about the process, where we will share timelines and resources to help you succeed.
If you’re among the shortlisted entrepreneurs, you’ll gain access to join peer-to-peer support groups.
- As a shortlisted entrepreneur, you’re expected to complete the business training and answer quizzes at the end of each module.
- After the training, you, as a shortlisted applicant, will have the chance to develop a business plan.
THE BUSINESS PLAN AND FINANCIALS SUBMISSION PHASE
At the conclusion of the TEEP 2024 training, you’ll need to consolidate all your learnings into a single, comprehensive document.
You’ll receive a business and financial plan template, available in the online resource library.
This template will guide you in creating your first draft of a business plan.
Following the Business Training and Business Plan Submission, only successful candidates who complete the MCQs, score above the cut-off mark, and submit a business plan, will be eligible to advance to the next stage: the Pitching Competition.
THE PITCHING PHASE
This phase presents you with the chance to showcase your business acumen and persuade the judges of your business’s viability.
During the pitching stage, you will present your ideas to a panel of judges.
Only those who excel in the pitching competition will be awarded seed capital funding and gain access to the Alumni network, bolstering their business goals.
If you’ve met all the training requirements and submitted a business plan but don’t succeed in the pitching stage, you’ll still receive a training completion certificate and can reapply next year.
Please remember, this phase is a crucial part of the training programme, and all shortlisted entrepreneurs must undergo this phase to qualify for seed capital.
THE SEED CAPITAL PHASE
Entrepreneurs who have successfully completed all preceding steps will need to open business accounts, into which the seed capital will be deposited.
An entrepreneur qualifying for seed funding will also receive a Certificate of Completion and Achievement from the Foundation.
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