Grants

How to apply for Tony Elumelu foundation (TEF) grant

Have you been looking for a guide on how to apply for the Tony Elumelu Foundation grant? then you are at the right place. The TEF grant is among the best business Grants for African Entrepreneurs in 2022. and it is not best just because they give out grants but because they mentor and train all applicants before selecting the winners.  This article will guide you on how to apply, and then the requirements and the processes involved. 

What is TEF Entrepreneurship programme?

The Tony Elumelu Foundation (TEF) started in 2010 is a leading philanthropy empowering young African entrepreneurs across all 54 African countries. Since 2015 the TEF Entrepreneurship Programme has funded African entrepreneurs with business ideas or existing businesses under 5 years with $5000 seed capital, mentorship, business management training and more.

In 2021, the Tony Elumelu Foundation disbursed USD$24.75 million to 5000 African entrepreneurs across Africa for its 2021 Entrepreneurship Programme. TEF remains one of the largest private-sector responses to driving the economic recovery of African youths, women and SMEs given the effects of the covid19 pandemic across Africa. Across Africa, the TEF Programme beneficiaries are starting and growing trailblazing businesses that have created over 400,000 direct and indirect jobs.

The 7 pillars of TEF entrepreneurship programme

There are 7 pillars of the TEF entrepreneurship programme and these pillars are designed to address the essential needs to ensure the success of an African entrepreneur.

  1. Mentoring
  2. 12 weeks of business management training
  3. knowledge resources on tefconnect.net
  4. Meetups
  5. Annual TEF entrepreneurship forms
  6. Seed capital funding
  7. TEF entrepreneurship programme alumni network

Requirements to apply for Tony Elumelu Grant

It is open to all Africans from all 54 African countries with scalable business ideas or businesses that have been operational for not more than 5 years

Applicants must be 18 years and above

Your application must focus on one business only

Your business must affect the environment, lives and property and they must be for-profit and business ideas must be the original work of the applicant.

The grant is not applicable to research institutions, faith-based organizations, value-adding trading companies, government organizations and businesses outside Africa.

How much is the funding for Tony Elumelu grant

The initial seed capital funding is fixed at $5,000 for each person and every applicant undergoes mentorship and business management training. 

Selection processes for Tony Elumelu grant

  1. Application phase
  2. Training and mentorship phase
  3. Business plan submission phase
  4. pitching phase
  5. seed capital phase

How do I apply for Tony Elumelu Foundation grant

The TEF programme is an annual programme and registration is usually open for about 3 months. The 2022 registration lasted from the 1st of January to March 31st, You can sign up for our newsletter to stay updated when 2023 registration begins.

Once registration starts;

  • After registration, you will be moved to the training stage
  • During the online training stage, ensure you have a very high score
  • Then you will be asked to submit your business plan
  • If you are selected you will be moved to the next stage which is the pitching stage
  • The winners will be selected from applicants that make a good pitch and also meet other criteria depending on the sponsor’s consideration

 

Leave a Reply

Your email address will not be published.

Back to top button