Tony Elumelu Foundation launches $100m scheme for African entrepreneurs

Posted by News Express | 2 December 2014 | 3,574 times

The Tony Elumelu Foundation has formally launched The Tony Elumelu Foundation Entrepreneurship Programme (TEEP), the flagship entrepreneurship programme of the Foundation, with the aim to create 10,000 businesses that span the continent.

The scheme aims to generate 1,000,000 new jobs and contribute at least $10 billion in annual revenue to the African economy. It is backed by $100,000,000 and a commitment to giving start-ups and entrepreneurs with a dream the funds, the mentorship, and the network, to become the next generation of global business titans from Africa.

The 1,000 start-ups selected from the tens of thousands of applicants across the continent will participate in a comprehensive programme designed to equip them to build successful value adding businesses. The programme includes seed capital funding, a customised 12-week business skills training course, mentoring, an entrepreneurship ‘boot camp,’ participation in the annual Elumelu Entrepreneurship Forum, membership in the TEEP Alumni Network and much more.

Mr. Elumelu, who first dropped hit of TEEP in an article in The Economist reproduced by News Express, announced the launch during a major press conference held yesterday at Heirs Place, Lagos.

More details about the programme, including eligibility and the application and selection processes, are available on the website at: www.tonyelumelufoundation.org/TEEP.

•Photo shows Tony Elumelu.

Source: News Express