The Tony Elumelu Foundation 2021 Grant is currently open for a few days from now for African entrepreneurs who are in need of seed funding for their ideas and businesses.
The Tony Elumelu foundation opened its application portal (TEFConnect) for submission of applications by January 1, 2021, and will get it closed by March 31, 2021. This means that aspiring African entrepreneurs only have 7 days left from the date of this publication to complete the application for this grant.
Introduction to the Tony Elumelu Foundation 2021 Grant
The TEF Entrepreneurship program is a major part of the initiatives of the Tony Elumelu Foundation, which seeks to empower African entrepreneurs with lucrative and innovative businesses and ideas. The Tony Elumelu Entrepreneurship grant is made available for all entrepreneurs across the continent of Africa. The TEF entrepreneurship program has helped about 9000 entrepreneurs across the 54 African countries with a seed funding of $5,000 each.
That’s a juicy offer, right? Well, the grant is not only available for established African businesses but also accessible for new business startup and operational businesses with less than 3 years of operational experience. The benefits African entrepreneurs stand to gain is not only limited to the $5,000 seed funding. African entrepreneurs also stand to gain thorough business training and mentorship from top business executives in the continent, massive global networking opportunities, and a refundable $5,000 business loan after training.
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Goal and Purpose of the Program
The TEF Entrepreneurship program has a goal of alleviating poverty and raising the standard of living through the creation of millions of valuable jobs across the continent. The Tony Elumelu Foundation has a goal of helping source the revenue required for the sustainable development of Africa through the empowerment of African entrepreneurs.
The program has a 10-year commitment to the identification and empowerment of young African entrepreneurs with its $100 million commitment. The foundation believes in the African capitalism, which identifies the growing private sector in the continent as the driving force for the emancipation and economic development of Africa.
Benefits of the TEF Entrepreneurship Grant Program
The Tony Elumelu Foundation 2021 Grant Program has a lot of goodies stored for African entrepreneurs with new business startups or established businesses not more than 3 years of existence. Over 9000 African entrepreneurs have benefited from this program’s previous edition, and you also stand a chance to join the league of its beneficiaries to win:
- $5,000 non-refundable seed funding
- Executive Business training
- Access to Industry leaders for mentorship
- African and global networking opportunities
- Access to refundable $5,000 business loan.
Eligibility for the Tony Elumelu Foundation 2021 Grant
The Tony Elumelu Foundation 2021 Grant for African entrepreneurs can only be applied for by people and businesses that meet the following criteria:
- Eligible for all African citizens and legal residents in Africa.
- Eligible for businesses registered and operational in Africa.
- Eligible to African entrepreneurs with businesses with high-growth potential and aspiring entrepreneurs with innovative ideas.
- Applicant must be 18 years of age for due consideration.
- Applicants are to apply with only one business. So, choose the best out of your innovative ideas.
- Research, religious, and government institutions are not eligible to apply.
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Mode of Application for the TEF Entrepreneurship program
For your application to be considered, you must only apply through the Tony Elumelu Foundation grant application portal. Any application submitted through any other platform or channel asides from the TEFConnect portal will not be considered by the foundation.
Click here now to start your application before it closes.
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