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Tag: TEF

  • TEF to hold fifth forum

    The Tony Elumelu Foundation (TEF) will hold its fifth forum from July 26-27 in Abuja.

    The forum is the culmination of the yearly TEF Programme, which this year mentored, trained and seeded over 3,000 young Africans, selected from over 216,000 applicants.

    The event provides a unique opportunity for young women and men, from 54 African countries, to meet, learn and network with the broader African and global entrepreneurship ecosystem.

    It is also a critical opportunity for political leaders and policy makers to meet, face to face, a new generation of African business leaders, who are transforming Africa’s economic trajectory.

    Keynote speakers at the highly anticipated forum include Paul Kagame, President of Rwanda, and  Macky Sall, President of Senegal, who will join Tony O. Elumelu, TEF Founder and Chairman of Heirs Holdings and the United Bank for Africa (UBA) in an intimate open house discussion.

    The Presidential Convening is a highlight of the forum,  allowing the African entrepreneurs in attendance to engage with political leaders, to give first-hand testimony of the important role government can play in catalysing growth and encouraging business ambition.

    The forum agenda includes masterclasses and panel discussions with leading speakers and sector experts, from Africa and globally, who will engage attendees in specialised training sessions to share insights, deepen their knowledge and refine their skills.

    The forum will also feature a pitching event, where select entrepreneurs will deliver exciting presentations on the goods and services they provide to a distinguished judging panel.

  • TEF hosts European Commission, others

    The Tony Elumelu Foundation has brought together leading stakeholders in the development finance sector, at a case study session in the EU capital, Belgium. The convening demonstrated that Africa also had solutions to bring to the table and platformed the Foundation’s unique approach to catalysing entrepreneurship in scale across the continent.

    This is coming at a time Europe’s relationship with Africa is high on foreign policy and developmental agendas and with the European Union (EU) beginning to deliver on its 2017 External Investment Plan, targeted at attracting investment and job creation in Africa.

    With  A Convening on Africa’s Economic Transformation: A Case Study of the Tony Elumelu Foundation as its theme, the event presented the results of the first five years of the Foundation’s Entrepreneurship Programme a unique programme, which has trained, mentored and seeded 4,470 African entrepreneurs with 3,050 newly announced to receive seed funding, and drawn over 200,000 applications to its 2019 cycle. Tony Elumelu’s $100million investment in entrepreneurial philanthropy was held up as an example of how vital capital could be targeted efficiently and effectively, at African businesses best able to create significant economic and developmental impact.

    Read also: Tony Elumelu Foundation lifts 4,460 entrepreneurs with $20m

    Opening the event,  Deputy Director General, DEVCO, EU,  Mr. Koen Doens, said: “Africa needs to create jobs by the millions to match the needs of its exponentially growing population. It will achieve this only if it unleashes a generation of empowered entrepreneurs. The Tony Elumelu Foundation contributes to this massively. The EU wants to play its part and contribute to this endeavour.”

    During an question and answer session with EU-Africa relations expert, Annie Mutamba, Founder, Mr. Tony O. Elumelu highlighted the growing interest in the Foundation and its unique approach, while welcoming a new type of intervention in Africa.

     

  • TEF opens applications for $100m entrepreneurship programme

    The Tony Elumelu Foundation, the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting applications for the 2019 cohort of the TEF Entrepreneurship Programme.

    The programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs. The programme’s objective is to generate at least 1.0 million new jobs and create at least $10 billion in new business revenue across Africa. Now in its 5th year, the TEF Entrepreneurship Programme has empowered 4,470 entrepreneurs, using a bespoke and robust selection, training and implementation process to create visible and sustainable impact across all 54 African countries.

    Outstanding African entrepreneurs running existing start-ups with high growth potential and aspiring business owners with transformative ideas are invited to apply. We are particularly looking to grow representation from French, Arabic and Portuguese speakers, as well as female entrepreneurs.

    Inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Foundation has implemented one of the most ambitious entrepreneurship programmes globally. Selected entrepreneurs from previous years have transformed their businesses and their communities after gaining from the programme’s seven pillars: $5,000 in seed capital; business development training; one-on-one mentoring; access to TEFConnect; pan-African meetups; TEF network membership; and participation at the annual TEF Entrepreneurship Forum, the largest convening of the African entrepreneurship ecosystem.

    Founder, Tony Elumelu,  stated: “The private sector must be the core driver of Africa’s economic transformation, but this sector cannot attain its full potential if entrepreneurs are left behind. We call on all stakeholders – policymakers, business leaders and development agencies – to actively commit to creating a better future for our young Africans who have demonstrated intellect, skill, and passion, to empower them to succeed because their success is Africa’s success. The TEF Entrepreneurship Programme is by far the most impactful project of my life and represents my commitment to transforming Africa through entrepreneurship”.

    Parminder Vir, CEO, Tony Elumelu Foundation, said: “Our entrepreneurs illustrate the Foundation’s commitment to transform the African economy, by building on the intelligence, skills and resourcefulness of Africans. I encourage all ambitious young Africans to take advantage of this unique opportunity”.

    The Foundation, which has recently hosted President Macron of France, President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana in dynamic interactive sessions with young African entrepreneurs, is committed to supporting the entire entrepreneurship ecosystem – from the entrepreneurs themselves, governments who must provide enabling environments, to capital, advice and most importantly access and networks.

    The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years. The deadline for applications submission is March 1, 2019.

    Applications will be judged based on criteria including: feasibility, scalability and potential for growth of the product or service; market opportunity for the idea or business; financial understanding, leadership potential and entrepreneurial skills.

    Applicants can apply on  www.tefconnect.com – the largest digital networking platform for African entrepreneurs.

  • TEF opens application for programme

    The Tony Elumelu Foundation (TEF) yesterday said it will begin accepting applications for the fifth cycle of its TEF Entrepreneurship Programme on January 1, 2019.

    The applications will be hosted on TEFConnect- www.tefconnect.com, the largest digital networking platform for African entrepreneurs.

    The TEF said 1,000 selected applicants will join the current 4,470 beneficiaries of the programme.

    Since 2015, the TEF Entrepreneurship Programme – the only African-funded entrepreneurial catalyst of its kind, has empowered 4,470 African entrepreneurs, with seed capital of $5,000 each.

    The Programme comprised twelve weeks of accelerated online business training; access to experienced mentors; and membership of Africa’s largest entrepreneurial ecosystem.

    Beneficiaries of the Programme have been profiled in global media, including the Forbes Africa 30 Under 30 list.

    They have also attracted the attention of investors, as well as been recipients of awards, including the Google Impact Challenge and the Chivas’ “The Venture” Award for Social Entrepreneurs.

    The Entrepreneurship Programme has facilitated exchanges between African entrepreneurs and local and global public sector leaders, investors and development partners, raising their business profiles, scaling their opportunities, showcasing their innovation and identifying ways to further strengthen the business environment in Africa.

  • TEF entrepreneurs win $500,000 Google prizes

    Two Tony Elumelu Foundation (TEF) entrepreneurs-  HelpMum and Project Enable Africa have won $500,000  at Google Awards. The companies both won $250,000 each from the $2 million prize money for Google Impact Challenge.

    The Google Impact Challenge supports organisations with game changing ideas to create economic opportunity in their communities.

    Stakeholders have praised the TEF initiative for its role in discovering, unleashing and empowering the next generation of African entrepreneurs. The TEF Entrepreneurship programme has supported two of the winning entrepreneurs, Help Mum and Project Enable Africa. Another winner, Budgit Foundation, is a Grantee of the Tony Elumelu Foundation Innovation Fund in 2012.  Help Mum and Project Enable Africa are 2016 and 2017 winners in the TEF project.  The awards  is big considering the global impacts and recognition this gives to the winners and remains a testament to the efficacy of the programme and the impacts being made by the entrepreneurs

    The TEF said: “Both winners credit the Foundation for their first break. They pitched perfect and won the hearts of all the judges. If the  entrepreneurs can walk away with the two top prizes, just imagine how others are leveraging the TEF Kite  mark”.

    According to Google, the TEF  signals market validation when Alumni apply for further funding. “We are still amazed that two TEF entrepreneurship programme Alumni from Nigeria won $500,000 of the $2 million prize money for Google Impact Challenge.

    HelpMum uses low-cost innovations and the power of mobile technology to tackle maternal and infant mortality in underserved and remote areas in Nigeria.

    Project Enable Africa is a disability-friendly Digital Hubs promoting the access of persons with disabilities and their caregivers to ICT skills and opportunities.

  • TEF hosts Macron, 2,000 entrepreneurs

    The President of the French Republic,  Emmanuel Macron, who is in Nigeria on a working visit, will today, be interacting with more than 2,000 budding entrepreneurs from Africa.

    The entrepreneurs are alumni of the Tony Elumelu Foundation (TEF) Entrepreneurship Programme.

    The session, which is the highlight of Macron’s visit to the country, will be chaired by the UBA Chairman, and Founder TEF, Tony Elumelu, and will give African entrepreneurs a platform to closely engage with President Macron, and garner ideas from his wealth of experience as one of the youngest Heads of State in recent times.

    The historic session will also provide a platform where participants can network and forge partnerships with French and African business leaders and policymakers who will be in attendance.

    Speaking ahead of the event, Elumelu said the collaboration between the French President and TEF is a result of President Macron’s acknowledgement that African entrepreneurs remain the key to Africa’s economic transformation, and his desire to connect with and elevate the voices of future leaders.

    In Elumelu’s words: “We welcome President Macron of France to meet our entrepreneurs, over 2,000 of them from across Africa. Macron is a new kind of leader. He brings the discipline of the private sector and understands the social obligations of the state. He speaks to Africa as a strategic partner and most importantly, he is a champion of entrepreneurship.

    “It is a pleasure to introduce him to our Africa; the Africa of innovation, determination and opportunity. We share a somewhat similar background with the French President being a banker, who became a visionary, and is bringing a new mindset to politics and business,” Elumelu said.

    The event will grant the French President the opportunity to interact, one on one, with Africa’s young entrepreneurs and explore partnership possibilities. “I, alongside, President Macron, will engage with these entrepreneurs in an interactive session, where we will discuss challenges of business in the private sector and solutions to create more benefits for the success of entrepreneurship. It promises to be an inspirational session,” Elumelu added.

     

  • TEF opens app for $100m entrepreneurship programme

    TEF opens app for $100m entrepreneurship programme

    The Tony Elumelu Foundation has started accepting applications for the fourth cycle of the $100 million entrepreneurship  development programme.

    A statement by the TEF said the deadline for the application is March 1, 2018, while the programme is scheduled to run from May 1, 2018 to December 2018. It said applicants should focus on  business ideas that can transform Africa.

    The Programme provides critical tools for business success, including a 12 weeks intensive online training which guides participants on  creating and managing a business. Other features of the programme participation of a  world-class mentor to guide participants  during the early transformation stages of the business as well as earning a $ 5,000 seed capital to prove the business concept in addition to access to further funding . The programme will include access to the largest network of African start – ups and the foundation’s own global contacts.The Programme, in the  fourth  cycle, is foundation’s  10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024.

    Founder, serial entrepreneur and philanthropist Tony O. Elumelu, said: “When we launched the TEF Programme and committed $100 million to empowering Africa’s entrepreneurs, I knew we would create impact, but I never imagined it would be impact of this magnitude. We have unleashed a movement of African entrepreneurs — a force so strong, so inspiring, that I am confident they will collectively transform Africa. We need Africa’s best and brightest entrepreneurs to come learn, grow their businesses and build our continent.  “ 1,000 entrepreneurs will be selected based on the viability of their idea, including: market opportunity; financial understanding; scalability; and leadership and entrepreneurial skills demonstrated in the application.  Chief Executive Officer of the foundation, Parminder Vir said : “ We encourage women, French and Portuguese speakers to apply. Our 3,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you.” To qualify for the programme, the   business must be based in Africa. The business must be for profitThe business must be zero to three  years old and the applicants must be at least 18 and a legal resident or citizen of an African country.”

     

  • TEF’s $100m entrepreneurship scheme opens

    The Tony Elumelu Foundation (TEF) has announced that it will from January 1, begin accepting entries for its $100 million Entrepreneurship Development Programme.

    The entries are expected from outstanding African entrepreneurs who have start-up or business ideas with high growth potential.

    The application portal opens midnight January 1, 2018. The programme is the founder, Tony Elumelu’s  $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs in 10 years.It was also meant to creat one million jobs and $10 billion in social and economic wealth.

    After three cycles, the Programme has received 158,000 applications from African entrepreneurs in 107 countries, including every nation of Africa.

  • TEF to host 1,300 African entrepreneurs in Lagos

    TEF to host 1,300 African entrepreneurs in Lagos

    The Tony Elumelu Foundation (TEF) will be hosting over 1,300 African entrepreneurs in Lagos at this year’s edition of its entrepreneurship programme.

    The scheme is targeted at empowering the next generation of African business leaders.

    The event, which is third in a series,  remains the most diverse annual gathering of African entrepreneurs and Small and Medium Enterprises (SMEs).

    The  forum, holding from October 13 to 14, would be attended by 1,300 African entrepreneurs, business leaders, and policymakers from 54 countries.

    According to a statement from the TEF, this is the first year that invitation to the forum is extended beyond the 1,000 Tony Elumelu Entrepreneurs from the 2017 cohort to include selected SMEs, media, hubs, incubators, academia and investors from diverse nations across Africa.

    It said the assembled SMEs would build networks, share knowledge, connect with investors and link with corporate supply chains.

    The TEF Founder, Tony Elumelu, said, “Since launching the TEF Entrepreneurship Programme – and committing $100 million to empowering 10,000 African entrepreneurs in a decade – we have unleashed our continent’s most potent development force, its entrepreneurs.

    “In just three years, our first 3,000 entrepreneurs have created tens of thousands of jobs and generated considerable wealth.  On October 13 and 14, the global entrepreneurship community will gather in Lagos to build a New Africa, a thriving, self-reliant continent capable of replicating the results of our ground-breaking programme.”

    The forum would feature plenary panels, master-classes, sector-specific networking opportunities and policy-led forums focused on enabling African business growth.