Application for Tony Elumelu Entrepreneurship Programme 2018|Portal re-opens on the 1st of January 2018 | TEF2018 application portal re-opens on the 1st of January 2018
Welcome to the 2018 edition of the Tony Elumelu Entrepreneurship Programme (TEEP), the flagship programme of The Tony Elumelu Foundation. The programme is open to all citizens and legal residents of any one of the 54 African countries. The proposed business must be registered and operate in Africa.
The Tony Elumelu Entrepreneurship Programme (TEEP) portal opens official on the 1St Jamuary, 2018. Graduates and undergraduates are by this information seen on www.kendoras.com.ng to get their proposed business plans/ideas ready for application into the Tony Elumelu Entrepreneurship Programme (TEEP)
Please note you can save your information at any point in the process and return to complete your saved application before the closing date of to complete your application.
Please be informed that if your business is operational, you will be required to upload certain documentation. In order to speed up the application process, prepare these documents before you start your application. Required documents are:
- Valid Government-issued Identification
- Official Business Registration Certificate
- Official Evidence of Business Ownership
- Official Evidence of Directors
- Official Consent by Partners to apply
If all you have is a business idea you can still apply. You will not be required to submit these documents.
All applications will be reviewed and selected applicants for TEEP.
Upon completion of the 12-week Start-up Enterprise Toolkit (learning) programme, certification of submitted business plan, provision of required documentation, business bank account, among other requirements, entrepreneurs will qualify for the first stage non-refundable seed capital of $5,000 (terms and conditions apply).
What funding options are available?
Tony Elumelu Entrepreneurs who successfully complete the programme by meeting stipulated requirements and deadlines will be eligible for funding. There are two stages of funding available to entrepreneurs:
First stage seed capital funding of $5,000 (based on the official Central Bank of Nigeria exchange rate)– a non-returnable investment. Please see Terms and Conditions for clarification.
Second stage capital returnable investment – entrepreneurs will apply and be considered for this based on the viability of their business.
Is the initial seed capital amount a fixed sum?
Yes. The initial seed capital funding is fixed at $5,000.
HOW TO APPLY FOR TONY ELUMELU ENTREPRENEURSHIP 2018 PROGRAMME (TEEP)
Steps to follow for a successful TONY ELUMELU ENTREPRENEURSHIP 2018 PROGRAMME (TEEP) application, interested applicants should follow these steps to achieve a successful application online.
- Applicants must be 18 years old and must not be considered a minor in their country of residence. There is no upper-limit age restriction.
- The programme is not open to research institutions, faith based organizations, value adding trading companies, government contractors and businesses not located in Africa. Businesses must not adversely affect the environment, lives and property. Business ideas must be for profit, and must be the original work of those making the submission.
- All businesses must be business ideas or an early stage company, in the range of 0 to 3 years old.
- Your application must focus on ONE business only.
- Current employees or their family members from the Tony Elumelu Foundation and affiliate companies in the Heirs Holdings Group and UBA Group are not eligible to apply for the TEF Entrepreneurship Programme, either individually or as part of a team.
All applications will be judged on 5 core criteria, which are:
- Feasibilityof the business idea.
- Market Opportunity:knowledge and understanding of the market, customers and competitors for their idea/business.
- Financial Understanding:understanding of the basic financial requirements of running a business, costs and revenues.
- Scalability:Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
- Leadership Potential and Entrepreneurial Skills:Demonstrate leadership potential, capable of attracting people, customers and resources.
- Tony Elumelu Entrepreneurship Programme (TEEP) Programme Application Process
- All applications must be submitted ONLINE through the application platform of the TEF Hub. You must complete an application form by answering a series of mandatory questions and uploading additional documents and identification materials. After submission, you will receive a confirmation email of receipt within 1 working day.
- Only one nominated person from the business or the partnership may join the programme. You must have consent from all partners, and have and equal or majority share to participate.
- All applications must be submitted online through the TEF Hub only. The application form is in English, French and Portuguese.
- The TEF Hub application platform is open from midnight on 1st January, to midnight on 1st March. It will not be possible to submit any application prior to or after these dates.
- You must answer all the mandatory questions in the application form, and provide accurate and up-to-date information.
- There are 1,000 places available annually for the applications that are reviewed by Accenture and ultimately selected by the Selection Committee for a placement in the programme
- The Tony Elumelu Foundation does not charge any applicants a fee for applying to the programme.
- Successful applicants will be notified on the 22nd of March, via the email address designated in the initial application. The list of selected entrepreneurs will also be posted on the TEF Website.