Are you an entrepreneur? Do you feel you have an innovative business idea that can change Africa? The Tony Elumelu Entrepreneurship Programme application portal officially reopened today, January 1st 2016 and closes on March 1st, 2016. Entailing a multi-year programme of training, funding, and mentoring, designed to empower the next generation of African entrepreneurs, entrepreneurs from all over Africa are being encouraged to apply.
The programme will identify and help grow an initial 10,000 start-ups and young businesses from across Africa over the next 10 years, targeting the creation of 1,000,000 new jobs and $10 billion in annual revenues.
The application is open to startups and entrepreneurs from all the 54 African countries – for Africans based in Africa. The worth of Tony Elumelu Entrepreneurship Programme is $100M for 10,000 entrepreneurs.
The Tony Elumelu Entrepreneurship Programme (TEEP) is a 12-week programme to equip starts with the basic skills required to launch and run their businesses at the early stage of their growth. The programme will bring together the best tools and framework to teach and hone entrepreneurship skills in Africa.
– Open to citizens and legal residents of all 54 African countries, 18 years and above.
– Applications can be made by any for-profit business based in Africa in existence for less than three years, including new business ideas.
– Applicants can only submit one business.
– Feasibility: content of the business idea. A good business model that has clear and compelling mission to grow a sustainable, commercially viable business and is effectively communicated (25 points);
– Market Potential: knowledge and understanding of the market, customers and competitors for their idea/business (20 points);
– Financial Model: understanding of the basic financial requirements of running a business, costs and revenues. (20 points);
– Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth (10 points);
– Leadership Potential and Entrepreneurial Skills: Applicant has demonstrated leadership potential, capable of attracting people, customers and resources. Also exhibits strong passion and commitment for the business (25 points).
To apply, please go to The Tony Elumelu Entrepreneurship application page.