The United Nations Development Programme (UNDP) and the Tony Elumelu Foundation (TEF) have launched the TEF – UNDP Youth Entrepreneurship Programme to empower an additional 100,000 young African entrepreneurs over the next 10 years with seed capital, business management training and mentoring.
This Programme is borne out of the Foundation’s tried and tested approach to philanthropy which prioritises African entrepreneurs as the key enablers of economic development.
The first phase of this partnership is being implemented this year (2019) and will empower 2,100 entrepreneurs from the following countries in the Sahel and Lake Chad region: Burkina Faso, Cameroun, Chad, Mali, Mauritania, Niger, and Nigeria.
We have prepared responses to your “Frequently Asked Questions” (FAQs) for additional clarification:
- What is the TEF-UNDP Youth Entrepreneurship Programme?
The TEF-UNDP Youth Entrepreneurship Programme is a partnership between the United Nations Development Programme (UNDP) and the Tony Elumelu Foundation (TEF) to empower 100,000 additional entrepreneurs over 10 years from across the African continent.
- Is this different from the ongoing Tony Elumelu Foundation Entrepreneurship Programme launched in 2015?
Yes, it is different. The Tony Elumelu Foundation (TEF) Entrepreneurship Programme is the Foundation’s US$100m flagship initiative launched in 2015 to mentor, train and fund 10,000 African entrepreneurs over 10 years. This Programme is currently in its fifth year and has empowered over 7,500 entrepreneurs across all 54 African countries till date.
- What are the criteria for applying into the first phase (2019) of the TEF-UNDP Entrepreneurship Programme?
You must be an African entrepreneur residing in any of these listed countries in the Sahel and Lake Chad region: Nigeria, Niger, Chad, Cameroun, Mauritania, Mali and Burkina Faso. Your business must not be more than 3years in existence. Businesses at the idea/concept stage are also encouraged.
- Is eligibility for subsequent years going to be the same as 2019?
No. The focus on Sahel countries is only for the pilot phase where an initial group of 2,100 entrepreneurs from the Sahel and Lake Chad region will be empowered.
- Can I apply if I am a previous beneficiary of the TEF Entrepreneurship Programme?
No, you cannot apply if you have been a beneficiary of the TEF Entrepreneurship Programme. This is open to entrepreneurs who have not been beneficiaries of our entrepreneurship programme.
- What will African entrepreneurs gain from the Programme?
African entrepreneurs will gain non-refundable seed capital, access to a 12-week business training and mentoring. They will also receive visibility and numerous business networking opportunities.
- How many applications were received in the 2019 TEF-UNDP Entrepreneurship Programme?
Over 81,000 applications were received.
- When was the announcement of shortlisted applicants for the business training done?
From over 81,000 applicants, the shortlisted applicants for the business training was announced on October 8, 2019. Visit www.tefconnect.com and www.tonyelumelufoundation.org for the full list of shortlisted applicants.
- What is the programme timeline for the TEF-UNDP Youth Entrepreneurship Programme?
- 81,000 applications were received by August 20
- 5,240 have been shortlisted this in October to receive business training
- 2,500 will be shortlisted for the pitching competition in December
- Final 2,100 who will receive seed capital will be announced in December 2019
- What will shortlisted entrepreneurs gain from the Programme?
The shortlisted entrepreneurs will gain access to robust business training that will equip them for the development of their business plan and prepare them to pitch their business ideas.
At the end of the training, successful entrepreneurs will be invited to pitch their business plans to stand a chance to access the non-refundable seed capital.
- When will the pitching sessions hold?
Pitching sessions from entrepreneurs who have completed the training online or offline will happen across all 7 countries; Burkina Faso, Cameroun, Chad, Mali, Mauritania, Niger, and Nigeria in December 2019
- When will the final list of successful entrepreneurs who get access to funding be announced?
This final list of entrepreneurs who will get access to funding will be announced in a few days.
13. Where can I find out more information?