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Seed Funding, Business Support for Africa Citizens, Resident Entrepreneurs to Grow their Businesses

The Tony Elumelu Foundation Entrepreneurship Programme (TEEP)


Agency
Foundation

GrantWatch ID#
167736

Funding Source
The Tony Elumelu Foundation
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Geographic Focus
International.

Important Dates
Deadline: 03/01/16 11:59 PM Save

Grant Description
Funding of up to $10,000, travel expenses, and business support for Africa citizens and legal residents of all 54 African countries to help them start a for-profit business in Africa. Applicants must be at least 18 years old. Businesses may either be a business idea or a business that is not more than three years old.

Awardees are initially provided with a 12-week program to teach them the basic skills needed in the early stages of business growth, mentoring, an online resource library, a two-day bootcamp, and entrepreneurial forum.

Entrepreneurs who successfully complete the above process will be awarded a non-returnable investment for further development of their business idea. The qualifying startups that have progressed their business plans sufficiently will each qualify for a second stage seed capital investment of $5,000 that will be provided as returnable capital.

Program graduates become part of an alumni support network 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.


Recipient

Eligibility
  • Others (see text field entitled "Additional Eligibility Criteria" for clarification)
  • Single entities

Additional Eligibility Criteria
All citizens (18 and above and who are not considered a minor in their country of residence) and legal residents of any one of the 54 African countries with businesses that operate in Africa.

The program is not open to research institutions, faith based organizations, value adding trading companies, government contractors and businesses not located in Africa or over three years old.

Business ideas must be for-profit, focused on one business only and must be the original work of those making the submission.

Employees or their family members from the Tony Elumelu Foundation and affiliate companies in the Heirs Holdings Group are not eligible to apply for the Tony Elumelu Entrepreneurship Programme, either individually or as part of a team.

Pre-Application Information
See also: http://tonyelumelufoundation.org/teep/faqs/.

Apply online: https://teep.tonyelumelufoundation.org/signup.

The application portal will have functionality in English, French and Portuguese.

Number of Grants
1,000

Estimated Size of Grant
- Initial non-returnable $5,000 seed capital investment.
- Qualifying startups will receive a second stage seed capital investment of $5,000 that will be provided as returnable capital.
- Travel to Nigeria for participation in the Elumelu Entrepreneurship Forum will be covered by the Tony Elumelu Foundation.
- The costs for applying for a visa will be reimbursed up to N10,200 or it’s local currency equivalent.

Term of Contract
Selected applicants must be available to commit to the annual program from May to December in the application year.

Contact Information
teep@tonyelumelufoundation.org
TWITTER: @TonyElumeluFDN

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