It’s a new year and with it comes a fresh opportunity to apply for grants that can help boost your business to the next level. Grants, whether local or international, provide business owners with the free money needed to improve their businesses, which is why we love to keep you updated on the latest grant opportunities.
Applications for the 2021 Tony Elumelu Foundation (TEF) Entrepreneurship Programme has commenced, and here’s all the nitty-gritty you need to know about eligibility, as well as the application process.
The Tony Elumelu Foundation (TEF) Entrepreneurship Programme is a $100 million initiative that was specially designed by the Elumelu family to empower 10,000 African entrepreneurs over 10 years through training, mentorship, and funding. Thus, this program is open to all Africans across 54 countries with business ideas or existing businesses that are 0-3 years old.
“The pandemic has created challenges across the continent, but we know that with the Tony Elumelu Foundation’s tried and tested Programme, we can execute the largest Covid-19 economic recovery plan for African SMEs and break the cycle of poverty in Africa.” – Ifeyinwa Ugochukwu, CEO of Tony Elumelu Foundation.
All applicants must also be at least 18 years of age, and must not be considered a minor in their country of residence.
If you satisfy the above-stated criteria, then you are eligible for the 2021 TEF Entrepreneurship Programme.
So, how do you apply?
The first stage in the application process is to create an account in TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, which was created by the foundation.
It is on this platform that the entire application process would occur. Just like for other grants, personal details, as well as business details such as name, nationality, address, monthly revenue, details of business partner or team members, and many more, will be required.
Also, a valid means of identification, such as national ID card or Voters ID would have to be provided in a jpeg format. After stating the industry and sub-sector of your business, you would be required to give a little description of your startup or business ideas.
Apart from the business training, mentorship, as well as global networking opportunities that this grant would provide, successful applicants would also have access to a $5,000 non-refundable seed capital, which thousands of Africans currently benefit from.
The TEF for African entrepreneurs has helped so many entrepreneurs over the past few years and as Ifeyinwa Ugochukwu, CEO of Tony Elumelu Foundation shared,
“The impact we’ve seen from our entrepreneurs and their ability to create jobs, revenue and transform their communities, shows us the power of entrepreneurship.”
The application for this grant ends on March 31, and to apply you can click here.