In order to submit an application, entrepreneurs must complete the online application form with questions on their background, experience and business idea, plans for growth and proposed pan-African impact. “Since the Tony Elumelu Foundation Entrepreneurship Programme was announced, we have been enthused by the level of interest and excitement from entrepreneurs across Africa. We are looking forward to reviewing the entries and identifying the first cohort of the continent’s next generation of business leaders,” said Parminder Vir OBE, Director of Entrepreneurship, The Tony Elumelu Foundation.
The $100 million programme, announced at the Tony Elumelu Foundation headquarters in Lagos, Nigeria, will 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 will ultimately create one million new jobs and add $10 billion in annual revenues to Africa’s economy.
The Tony Elumelu Foundation Entrepreneurship Programme 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, Tony O. Elumelu CON, the founder of the Tony Elumelu Foundation, spoke of his personal commitment to empowering African entrepreneurship, saying, “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 first cohort of successful applicants from across Africa will be announced on March 22nd. 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 Tony Elumelu Foundation is an African-based, African-funded philanthropic organisation, founded in 2010 by African business leader and philanthropist Tony O. Elumelu, CON; who is committed to driving African economic growth, through empowering African entrepreneurship.
The $100 million Tony Elumelu Foundation Entrepreneurship Programme is the flagship entrepreneurship initiative from the Foundation and will support 10,000 African entrepreneurs over the next decade, creating one million new jobs adding $10 billion in annual revenues to Africa’s economy.
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