Tony Elumelu Foundation 2025 Flagship Entrepreneurship Programme.

The Tony Elumelu Foundation was founded in 2010 with a mission to catalyse Africa’s economic transformation through entrepreneurship development. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has reached over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed USD$100 million in direct funding to 20,000 young African women and men who have collectively created 400,00 jobs and generated US$2.5 billion in revenue.
Through the TEF Flagship Entrepreneurship Programme, the Foundation empowers African entrepreneurs and the entrepreneurship ecosystem across 54 African countries. The programme is opened to ALL entrepreneurs with businesses within 0 – 5 years. We encourage applications from businesses leveraging AI as well as green businesses.

The TEF Entrepreneurship Programme identifies?outstanding African entrepreneurs who have start-ups or business ideas with the potential to grow.??The TEF Entrepreneurship?Programme?will be delivered in different phases?as?listed below:?

Application Phase?
Training Phase?
Business Plan, Financials, pitch video Submission and Review Phase?
Seed Capital Phase?

Benefits

Business Training: Once Successful Applicants are onboarded, they will proceed to the training stage and are granted access to undertake the Foundation’s proprietary TEF Business Management Training Program

Seed Capital

The Selected Entrepreneurs from the Pitching Competition will be notified via email.
Disbursement of the Seed Capital will be made via electronic transfer into the Selected Entrepreneurs’ Business Bank Account. Banking and other charges may apply and shall not be borne by the Foundation. The total amount received may therefore be less than US$5,000 equivalent. TEF Partner funded entrepreneurs will receive seed capital in line with the partner commitments and this will be communicated in due course to Programme Participants who will be funded by partners.
The disbursement of the Seed Capital will be by payment into the Selected Entrepreneurs’ Business Bank Account within 60 days after receiving complete and accurate business registration documents and business bank account details, and for any subsequent initiation of Seed Capital.
Selected Entrepreneurs will be required to open Business Bank Accounts. The Business Bank Account should be in the name of the Business or Business Idea for which they were accepted into the Programme and must be opened in an African country where the Business is registered. The Promoter may not pay the funding in any currency other than US$ or the local currency of the country in which the Business Bank Account is held, into a personal bank account or any other bank account other than an account bearing the same name as the Business for which the Programme Participant undertook the Programme or different from the business registration name provided.
To receive seed capital Selected Entrepreneurs are required to undergo a mandatory due diligence process which will involve amongst other things the Promoter using a globally recognised Know-Your-Customer (KYC) reputable risk intelligence tool.
Selected Entrepreneurs must comply with all applicable programme requirements, including provision of required documents within the stipulated timelines and compliance with all due diligence requirements.
Any Selected Entrepreneur who does not meet the requirements for the disbursement of the Seed Capital within the stipulated timelines shall not receive Seed Capital and will be categorised as a TEF Trainee.
Where funds paid into the Selected Entrepreneur’s bank account are refunded due to unsolved technical difficulties on the part of the Selected Entrepreneur and his/her bank, the Promoter will initiate another singular attempt to make the payment, if the additional attempt results in a refund that particular entrepreneur shall forfeit his/her slot for funding by the Promoter. A Selected Entrepreneur is not entitled to receive Seed Capital after the close of the Programme cycle as a result of not meeting all Programme requirements within the applicable timelines.
Selected Entrepreneurs who receive seed capital will be deemed to have undergone the entire Programme having completed the Programme cycle. They will be categorised as TEF Entrepreneurs and become part of the TEF Alumni. They will also be issued with a Programme Completion Certificate.

Requirements

The Programme is open to all Africans (as defined) who are aged 18 years and above. The submitted age of all Applicants must be supported with government-approved means of identification.
All Applications must be for a Business Idea or a Business which must be for profit, focused on one business area only and must be the original idea of the Applicant.
The Business or Business Idea must not be for an illegal or unethical purpose.

The following categories of persons are not eligible to apply:

Employees from the Tony Elumelu Foundation, companies within the Heirs Holdings (HH) Group, affiliates of HH and their Immediate Family Members either individually or as part of a Business.
Employees of companies affiliated to the Tony Elumelu Foundation who have been involved in the creation or administration of the Programme and their Immediate Family Members.
The Promoter’s consultants, agents and companies affiliated with the Tony Elumelu Foundation (and employees and Immediate Family Members where the consultants and agents are companies) are involved in the creation and administration of this Programme.
Research institutions, faith-based organisations, government agencies and Businesses not located in Africa will not be eligible to apply for the Programme.

Selection Process

The Programme is made up of the following stages all of which form the Programme cycle:

Application Process:

Successful Applicants are those Applicants who complete the Application form, attain the minimum application score requirements and are accepted into the Programme.
Successful applicants will be enrolled into the TEF Business Management Training programme.
Unsuccessful Applicants will be directed to take the TEF General Business Training on TEFConnect and will be eligible to reapply for other TEF Programmes.

Verification & Onboarding:

Applicants will be verified and onboarded by the Promoter. Verification will involve the submission of required documents by the Applicant in order to enable the Promoter to ascertain the state of the Business or Business idea as well as the identity of the applicant.
Successful Applicants who do not meet the verification requirements will be removed from the Programme and notified of removal via email.
Programme Participants are not allowed to designate their Business Partners to undertake any part of the Programme. All trainings, tasks and activities to be undertaken under the Programme shall be carried out by only the Programme Participants. However, Programme Participants may share the training points with their business partners to institutionalise the training for the success of the Business or the Business Idea.
During the TEF Business Management Training Programme™ Participants’ progress will be tracked and assessed. The training shall be made available in English, French, Portuguese, and Arabic.
Upon completion of the last week of the TEF Business Management Training Programme Participants will be assessed, and top scoring Programme Participants will be notified via email that they will be proceeding to the Business Plan preparation stage.
Programme Participants who do not complete this stage or do not proceed beyond this stage of the Programme will be removed from the Programme and be notified via email.

Business Plan Preparation & Submission

Programme Participants who have been onboarded to the TEF Business Management Training Programme will receive a business plan template to develop a business plan document for review and assessment. This review and assessment will be based on relevant metrics including feasibility and sustainability. Programme Participants must submit their Business Plans by the required deadline to be eligible for consideration for the next stage of the programme.
The scoring Programme Participants from this stage will be notified via email and will proceed to the Pitching Competition stage.
Any Programme Participant who does not complete this stage of the Programme or is not successful at this stage will be removed from the Programme and notified of removal via email.

Pitching Competition

Top scoring Programme Participants shortlisted from the business plan stage will participate in the Pitching Competition where they will pitch their business plans to a panel of judges or submit their pitch videos to the Promoter.
Top-scoring Programme Participants from the Pitching Competition will be selected based on predetermined selection criteria and will be eligible to receive the Seed Capital.
Programme Participants who are not selected from the Pitching Competition to receive the Seed Capital will be notified via email and will be categorised as TEF Trainees.
Any Programme Participant who does not complete this stage of the Programme will be removed from the Programme and notified of removal via email.

Application Documents

The other documents required are listed below:

Business Registration Document/ Certificate
Evidence of tax registration (Must include business name)
Bank reference letter (The name on the business registration certificate must match the name on the bank reference letter)
Partner’s Consent form (If you run your business with a partner) and the ID card of your partner must be provided.
Medical report from a reputable hospital for participants who thrive with disability.

Upload an original government-approved ID card (it must be one of the following).

National Identity Card Date of birth and photo must be visible)
National Driver’s license
Permanent Voters’ card
International passport

Method of Application

Click Here to Apply

Applications for the Programme shall open on TEFConnect from 12.01 am (GMT + 1) on January 1, 2025 (GMT + 1) and close at midnight on the 1st of March 2025(the “Application Window”).
Applicants must create an account and complete an online entry form by answering a series of mandatory questions and uploading the required documents (including identification documents). During the application process applicants must submit email addresses, note that for the duration of the programme email addresses once submitted cannot be changed.
Upon submission of the Application, an email confirming receipt will be sent to the Applicant within 1 business day. Once submitted, Applications cannot be altered or amended.
Only Applications received during the Application Window shall be considered. No corruption of, defect in, failure or delay in the delivery of any email, text or other form of communication to or from the Promoter will entitle an Applicant to an extension of the Application deadline, or otherwise entitle an Applicant to make any form of claim.
Applicants are not required to make any purchase or payment in order to access TEFConnect, submit an application or become eligible for the Programme. For the avoidance of doubt, the Programme does not include any costs of a personal nature not explicitly set out in these Terms and Conditions.
The Promoter does not enlist third parties to act on its behalf or assist or support with participation in any of the Programme stages or carry out any assigned task for the Applicants.
Only one Application is permitted per Applicant for a Business Idea or Business.
All Applications must be made directly by the Applicant behind the Business Idea or Business being submitted for the Programme.
The Applicants are responsible for ensuring they can participate in the Programme as set out in these Terms & Conditions. They must also (in the case of companies/partnerships/co-ownerships/joint ventures) provide proof of consent from partners, directors and shareholders for their participation as representatives of a Business.

The following Applications shall be rejected and not considered:

Multiple applications for the same programme by the same Applicant whether using the same or different names, email addresses, Business Idea or Business.
Applications by TEF Alumni or their Business Partner.
Applications by persons disqualified under any previous TEF programme.
Applications made using methods such as a macro, script, using automated devices or processors or other form of digital tool to gain an unfair advantage.
Bulk and third-party entries
Incomplete and incorrect applications.
Applications which contain illegal or unethical Businesses or Business Ideas.
Applications not made in line with any of the Programme requirements.
The Promoter accepts no responsibility for late, lost, misdirected, damaged or delayed Applications as a result of any network, computer hardware or software failure of any kind.
The Promoter reserves the right to verify the validity of entries and to disqualify any Applicant for tampering with the entry process.
By applying, Applicants acknowledge that other Applicants may have created ideas and concepts that may be similar to their entry, and that Applicants will not be entitled to any compensation or right to negotiate with the Promoter over such matters.

For More Information,

Visit the Official Webpage

Application Deadline: March 1, 2025.