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Jobs / TEF Announces Finalists in $100m Entrepreneurship Programme
26 Mar 7:38pm

Tony-ElumeluThe Tony Elumelu Foundation (TEF) has disclosed plans to unveil 1,000 finalists in the Tony Elumelu Foundation Entrepreneurship Programme (TEEP) today.

After receiving over 20,000 applications from 52 countries across Africa, the application phase of the $100 million TEEP ended on March 1.

“We are now in the final stages of selecting the 1,000 members of the TEEP class of 2015 and will be announcing who they are in Lagos on the 24th of March, 2015 at 10am West Africa Time,” the TEF said in a statement to THISDAY.

It added: “Together we’ll join forces to support Africa’s next entrepreneurial success stories and shine a spotlight on their transformative business ideas.”

The $100 million TEF Entrepreneurship Programme is an annual programme of training, funding and mentoring designed to empower the next generation of African entrepreneurs.

The programme would identify and support 1,000 entrepreneurs from across the continent each year over the next decade. The 10,000 start-ups and young businesses selected from across Africa are expected to create one million new jobs and add $10 billion in annual revenues to Africa’s economy.

The TEEP is open to citizens and legal residents of all 54 African countries. Applications can be made by any for-profit business based in Africa in existence for less than three years, including new business ideas.  The application portal is available in English, French and Portuguese and applications will be accepted in these three languages. At the launch, the founder, TEF, Tony Elumelu had said: “This programme is far more than a funding initiative or networking opportunity. It is an act of faith in our entrepreneurs and our young people to transform our continent; to be the engine for the creation of both economic and social wealth, putting into practice what I have called Africapitalism.

“The 1,000 selected applicants will continue through the programme cycle for the course of the year. This includes an intensive online training curriculum and participation in an entrepreneurship boot camp.” The TEF is an African non-profit organisation founded in 2010 by Elumelu and headquartered in Lagos. It is engineered to spur African economy through promoting competitiveness and growth in the private sector. The Foundation is intent on charting a new course for African philanthropy and does not operate merely as a grant-awarding organisation. It is a pioneer member of the Global Impact Investment Rating System (GIIRS).

    26 Mar 7:38pm
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