The second round of the $100m Tony Elumelu Entrepreneurship Program (TEEP) for emerging African entrepreneurs will open January 1, 2016.
- In 2015, TEEP empowered 1,000 African entrepreneurs – selected from over 20,000 applicants with startup investment, active mentoring, business training, an entrepreneurship boot camp and regional networking across Africa.
- Entrepreneurs with an average age range of 21-40 from 51 African countries completed the program and received $5,000 in seed capital for their startup businesses.
- The Tony Elumelu Foundation invested a total of $4,860,000, including $1,405,000 in agriculture; $410,000 in education and training; and $365,000 in manufacturing. The sector-agnostic program funded start-ups across a further 20 industries, all based in Africa.
Applications are reviewed by an Advisory Board of distinguished African entrepreneurs. To be eligible, entrepreneurs must complete the online application form with questions on their background, experience and business idea, plans for growth and proposed pan-African impact. Any for-profit business based in Africa in existence for less than three years, including new business ideas.
DEADLINE: March 1, 2016