Find the answers to frequently asked questions here.
In the first year OF TEF, we spent more than $8 million of our $100 million commitment – and the results are better than we imagined. Here’s what you need to know about The Tony Elumelu Foundation Entrepreneurship Programme:
The TEF Entrepreneurship Programme
What is the TEF Entrepreneurship Programme?Established in 2010, The Tony Elumelu Foundation (TEF) is an African private-sector-led philanthropy in Africa championing entrepreneurship and entrepreneurs across the continent. The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent. The Foundation’s flagship initiative, the TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train mentor and fund 10,000 entrepreneurs, capable of changing the face of business across Africa. Our milestones outlined below, speak for themselves:
- We have provided training, mentoring and funding to 9,360 African start-ups from 54 African countries, selected from over 300,000 applications.
- We have staged the largest gathering of African entrepreneurs in Lagos, Nigeria.
- We have travelled across Africa with Founder, Tony Elumelu, introducing the TEF entrepreneurs to their political leaders at the highest levels of government, to bring these entrepreneurs and their challenges to the attention of policymakers who can effect changes that will improve the enabling environment, for not just TEF entrepreneurs but for all entrepreneurs in the respective countries.
- We have facilitated TEF entrepreneurs with setting up Alumni Country Chapters and Networks across the 54 African countries.
- The Foundation has leveraged its access to unique data, to produce original reports to support advocacy agenda to improve the ecosystem for African entrepreneurs: Unleashing Africa’s Entrepreneurs: Improving the Enabling Environment for Start-ups; Africans Investing in Africa, collaborated with University of Edinburgh to produce a report on Africapitalism and a Teaching Case Study is being developed by the Bertha Centre, University of Cape Town on the Foundation and its programme.
- TEF is the founding member of SPARK, launched by President Obama in May 2015 at the White House to promote global entrepreneurship and presented TEF at global entrepreneurship forums: MassChallenge UK launch Feb; Global Entrepreneurship Congress Milan, March; Oxford University African Business Conference, Cambridge African Entrepreneurship Conference; to name a few.
- The Founder led a successful outing for TEF at the World Economic Forum, in Davos, Switzerland and the World Economic Forum, Africa in Kigali, Rwanda.
- The Foundation has signed several strategic partnerships including: an MOU with the Nigerian Ministry for Information and Culture to invigorate the Nigerian Creative Industries; ECOWAS; International Trade Centre; Africa Development Bank, Microsoft to name but a few.
- We have built Africa’s largest online platform the TEFConnect, which is the go-to destination for African entrepreneurs.
What are the 7 pillars of TEF Entrepreneurship Programme?
- Start-up Enterprise Toolkit
- Online Resources
- Elumelu Entrepreneurship Forum
- Seed Capital Funding
- TEF Entrepreneurship Programme Alumni Network
Why Does Funding Not Come First?We believe that it is important for the TEF entrepreneurs to build a firm foundation for their businesses through mentorship, as well as the learning and networking tools provided by the Foundation. That way, when we do give them funding, they will be able to use the tools they have learned to put it to better use and maximise the benefits for their business.
About The TEF-EU Partnership
- – TEF Audit Partners and their Immediate Family Members.
- – Employees of companies affiliated with the Tony Elumelu Foundation who have been involved in the creation or administration of the Programme and their Immediate Family Members.
- – The Promoter’s consultants and agents (and employees and Immediate Family Members of such employees where the consultants and agents are entities) involved in the creation and administration of this programme.
- – Research institutions, faith-based organisations, government agencies and businesses not located in Mali will not be eligible to apply for the programme.
- – Applications by TEF Alumni or their Business Partner.
- – Applications by persons disqualified under any previous TEF programme.
- – Applications made using methods such as a macro, script, using automated devices or processors or other forms of digital tool to gain an unfair advantage.
- – Incomplete and incorrect applications.
- – Applications which contain illegal or unethical Businesses or Business Ideas.
Programme Application Process
Programme Selection Process
Selection of the applicants will take place after applicants successfully completes all the stages of the training and successfully take part in the pitch.
The program stages are as follows;
- § Application Phase
- § Training & Mentorship Phase
- § Business Plan Submission Phase
- § Pitching Phase
- § Seed Capital Phase
- – Complete a self-declaration form,
- – Provide proof of valid ID,
- – Provide a personal bank statement from the past 6 months,
- – Provide a statement of current personal debts,
- – Provide a reference from an employer, bank and/or academic institutions;
- – Provide business bank account details (For UBA present countries, it must be a UBA account).
- – You did not complete the application
- – Your business or idea is more than 5 years old
- – Your business or idea is not based in Africa
- – Your descriptions in one or more sections of the application was not clearly described
- – Your application did not meet other eligibility criteria
- – You scored low in one or more of the selection criteria.
- 8- Is there a waiting list for Applicants who could join the programme?
- Q. Is my business qualified to be funded?
- What currency is the seed capital paid?
- Professional or business experience of 5 years or more
- Speak either English, French, Portuguese or Arabic Fluently
- Passionate about developing others
- Committed to Own learning
- Great interpersonal and listening skills
- Able to communicate through concepts and models
- Business Savvy/ entrepreneurial
- Able to see the big picture and connect the dots
- Able to set and meet target goals
- Being 30 years of age or more would be an advantage
- Sign up to become a member of the global TEF Mentor Guild via https://www.tonyelumelufoundation.org/2021mentors
- Click on “apply here” to complete our registration form, from which we will obtain information that will be used to create your mentor profile on TEFConnect.
- Once your registration is accepted, you will be assigned as a TEF Coach or Mentor and be required to sign an MoU signifying that you consent to our mentor guild guidelines.
- Access to self-development trainings
- Access to mentor groups for networking
- Access to the largest platform of African entrepreneurs
- Social media visibility
- Improved standing amongst peers, through association
- Annual mentor certificate
- As a beneficiary on TEFConnect, certain aspects of your TEFConnect profile are limited and accessible only to the selected start-ups, mentors, alumni, the TEF team and selected partner organisations.
- 2- What can I do on the TEFConnect?
- 3- Can I sign in with my social media accounts?
- 4- Is the TEFConnect mobile-friendly?
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