The $100 Million Tony Elumelu Foundation Entrepreneurship Programme (TEEP) 2016 For African Startup businesses
Deadline: March 1, 2016
Applications for the 2016 Tony Elumelu Foundation Entrepreneurship Programme (TEEP) will open on January 1, 2016!! TEEP is the $100m flagship entrepreneurship programme of the Tony Elumelu Foundation, founded by the entrepreneur, respected investor and philanthropist Tony O. Elumelu. This programme is designed to:
- Identify 10,000 African startups and entrepreneurs with ideas that have the potential to succeed
- Grow the businesses through business skills training, mentoring, access to seed capital funding, information and membership in our Africa-wide alumni network
- Create businesses that can generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa
TEEP accept applications from all across the continent, from various sectors including but not limited to; Agriculture, ICT, Housing,Media,Education,Transportation,Textiles and Manufacturing.
- The Programme is open to all Africans with Startup businesses operating in Africa who are aged 18 years and above, and who must not be considered a minor in their country of residence.
- Applicants must have the legal right to work in the African country where the business is located.
- Applicants must create an account and complete an online entry form through the TEEP Portal to apply for the Programme.
- The proposed business must operate in Africa and Applicants must be legal residents of any one of the 54 African countries.
- All businesses must be Business Ideas or an early stage company, in the range of 0 to 3 years from date of registration.
- Business Ideas must be for profit, focused on one business only and must be the original work of those making the submission.
- All Successful Applicants must be available to commit to the annual Programme cycle from April to December once accepted. Any Applicant who is not committed to this time frame will not be accepted or will be dropped from the Programme.
- A Programme cycle commitment of April to December equates to completing the Startup Enterprise Toolkit; submission of regular narrative progress reports, participation in the Boot Camp and the Elumelu Entrepreneurship Forum in Lagos, Nigeria and development of a comprehensive business plan.
- Request for any proposed long term absence from the Programme must be agreed to by the Promoter in writing prior to the Applicant taking the time out of the Programme and shall only be allowed in extraordinary circumstances. Requests shall however be assessed by the Promoter on a case-by-case basis.
- Any Applicant who does not fulfill all the commitment requirements will not be awarded the Seed Capital or other on-going support.
The programme will support selected entrepreneurs through the 7 Pillars of TEEP, a framework that includes:
- Start-up Enterprise Toolkit. In April all 1000 of our start-ups will log into the online mentoring and learning portal to begin the 12 week Start-up Enterprise Tool-kit training course. Start-ups will also be assigned a mentor from day one who will guide and support them throughout the 12-week course, and for the duration of this programme cycle!
- Resource Library
- Boot Camp & Elumelu Entrepreneurship Forum. This will be an opportunity for expedition, live-learning of soft skills, and interaction between the 1000 start-ups, mentors, investors and other stakeholders in the entrepreneurship space.
- Seed Capital Funding – 1000 applicants will be selected annually to receive up to $10,000 seed capital
- Alumni Network
How to Apply
To apply for the 2016 TEEP, please visit the Tony Elumelu Foundation. Note that application opens on January 1, 2016!
For more information, visit Tony Elumelu Foundation TEEP.