The Tony Elumelu Entrepreneurship Programme Pledges $100m for Startups


The name Tony Elumelu is well known in Africa and beyond as one of the richest entrepreneurs in the world – an economist and astute businessman who has graced the covers of Forbes magazine as he talked about capitalisation and the strength of the African continent.

Tony Elumelu Forbes Cover

He continues to give us good vibes as he has now launched the Tony Elumelu Foundation – under which sits the Tony Elumelu Entrepreneurship Programme, a project he has started that commits $100 million to start-ups and minority-owned businesses both in the US and in Africa.

According to the visionary:

The Tony Elumelu Foundation will launch an entrepreneurship program with 100 million dollars that will touch 10,000 entrepreneurs across Africa and the United States. We will train and mentor them and create platforms for them to have commercial business engagements.

This is music to our ears here at Viva Naija as we are great fans of empowerment and teaching the community how to fish rather than handing out fish.

Tony Elumelu HomePage

There are 7 pillars to the programme – each one vital to the development of the young entrepreneur:

  • Start-up Enterprise Toolkit – a 12-week programme to equip startups with the basic skills required to launch and run their businesses at the early stage of their growth.
  • Mentoring – TEEP start-ups will be assigned a TEEP mentor who will dedicate time and share their business experiences, listen to their mentee’s goals and expectations and provide guidance and support throughout the programme.
  • Online Resource Library – a valuable library of relevant content for entrepreneurs that will also be available even after graduating from the programme.
  • Bootcamp – at the end of the 12-week programme, an intense interactive two-day live action learning experience where specialist trainers will help startups develop a range of soft skills using face-to-face, interactive teaching methods.
  • Elumelu Entrepreneurship Forum – TEEP will host an annual Elumelu Entrepreneurship Forum to showcase the African start-up to a global audience of entrepreneurs, incubators, business, corporations, government, investors, academia and foundations. It will be a time of engagement, networking, learning and inspiration for the start-ups.
  • Seed Capital Funding – The African startups that successfully complete the 12-week programme with the support of their mentors and attend the two-day bootcamp and the Elumelu Entrepreneurship Forum will be awarded a non-returnable investment for further development of their business idea.
  • TEEP Alumni Network – the alumni network is where one can continue to connect with mentors and fellow TEEP start-ups, access the vast online resource library and be kept totally in the loop with TEEP.

Applications reopen in 2016, but if this is something that interests you, go to the Tony Elumelu Foundation to find out more.

Good luck!

And thank you, Mr Elumelu, for giving back.

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