81 Views

How To Improve the Enabling Environment for Start-ups with Tony Elumelu January Funding For Nigerians

The Tony Elumelu Foundation announces the second annual round of the $100m Tony Elumelu Entrepreneurship Programme (TEEP) for emerging African entrepreneurs. In 2015, the Tony Elumelu Foundation:

  • Empowered 1,000 African entrepreneurs, selected from over 20,000 applicants, with start-up investment, active mentoring, business training, an entrepreneurship boot camp and regional networking across Africa.
  • Entrepreneurs, with an average age range of 21-40, from 51 African countries completed the programme and received $5,000 in seed capital for their start-up businesses.
  • Invested a total of $4,860,000, including $1,405,000 in agriculture; $410,000 in education and training; and $365,000 in manufacturing. The sector-agnostic programme funded start-ups across a further 20 industries, all based in Africa.

TEEP opens for entries at 00:00am WAT on 1st January 2016 and will accept applications until midnight WAT on March 1st, 2016.

 

To be eligible, entrepreneurs must complete the online application form with questions on their background, experience and business idea, plans for growth and proposed pan-African impact. The Tony Elumelu Entrepreneurship Programme is open to citizens and legal residents of all 54 African countries. Applications for 2016 open on 1st January and can be made by any for-profit business based in Africa in existence for less than three years, including new business ideas.

TEEP-Tony-Elumelu-Foundation-2016

Further guidance and application procedures can be found on the online portal. Applications are reviewed by an Advisory Board of distinguished African entrepreneurs.

Stella Nakatudde, founder of ICT company, Ella Solutions Ltd, based in Uganda, said of her experience: “Since being selected for TEEP 2015, I have learned invaluable life and business lessons, expanded and enriched my business network, opened our first office, hired two staff and closed two web development deals. TEEP is not just a means to start or propel your business, it is the torch that will light your entrepreneurship journey for life and the pen that will script your story in the new African Narrative”.

U.S Secretary of Commerce, Honorable Penny Pritzker commented “I am pleased to see Tony Elumelu investing in entrepreneurs through The Tony Elumelu Entrepreneurship Programme across Africa to work towards fostering communities of innovation”.

Tony Elumelu Foundation CEO Parminder Vir OBE stated “Africa does not need aid alone, it needs investment and it needs entrepreneurs. TEEP brings both and our ability to bring capital and the necessary support, for those who will help Africa harness its enormous potential is creating extraordinary opportunities across the Continent.”

ALSO READ  Too Bad: See Today's Naira Value Against Dollar At The Black Market

In addition to directly supporting African entrepreneurs with “Empowerment Capital”, the Tony Elumelu Foundation uses data gathered to conduct research and advocate for policy improvements to the enabling environment. Earlier this year, the Foundation released a report titled “Unleashing Africa’s Entrepreneurs: Improving the Enabling Environment for Start-ups”, which includes insights based on the most comprehensive and diverse data set on African entrepreneurs ever compiled.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

How Police Arrested BBOG Convener, Oby Ezekwesili, And 15 Others In Abuja
Politics
Politics

How Police Arrested BBOG Convener, Oby Ezekwesili, And 15 Others In Abuja

PH - January 24, 2018

Oby Ezekwesili, the convener of the Bring Back Our Girls (BBOG) advocacy group was arrested by officers of the Nigeria Police Force (NPF) on Tuesday, January 23, 2018. Ezekwesili and…

As Seen On Twitter: Man Wants Future Wife To Take Over Responsibilities If She Proposes
Buzz & Trends
6 views
Buzz & Trends
6 views

As Seen On Twitter: Man Wants Future Wife To Take Over Responsibilities If She Proposes

PH - January 24, 2018

This twitter user asked an interesting question. Who pays for union if a girl proposes to the man? Who pays for the bride price, trad wedding, court/church…

According To Psychologists, Here Is What Your Sitting Posture Says About You (Photos)
Food and Health
16 views
Food and Health
16 views

According To Psychologists, Here Is What Your Sitting Posture Says About You (Photos)

PH - January 24, 2018

According to psychologists, the sitting position of a person talks a lot about their intentions and personality. It reveals our hidden instincts and wishes. And even if…

“I Don’t Roll With Men Who Can’t Afford Recharge Cards” – TBoss (Video)
Entertainment
16 views
Entertainment
16 views

“I Don’t Roll With Men Who Can’t Afford Recharge Cards” – TBoss (Video)

PH - January 24, 2018

During the day 4 of the Big Brother Naija reunion, former contestant, Tokunbo Idowu popularly known as Tboss while discussing her popular private jet declaration during the…

Bola Tinubu Gives Clarification Why He Visited President Buhari
Politics
16 views
Politics
16 views

Bola Tinubu Gives Clarification Why He Visited President Buhari

PH - January 24, 2018

APC National leader, Bola Tinubu, says the closed door meeting he had with President Buhari on Tuesday, had nothing to do with the explosive open letter ex-president Olusegun Obasanjo released earlier the…

The Full Story Of How Drake Cut Burna Boy From His ‘More Life’ Project After Recording Together
Entertainment
27 views
Entertainment
27 views

The Full Story Of How Drake Cut Burna Boy From His ‘More Life’ Project After Recording Together

PH - January 24, 2018

Remember that time when Drake was pictured with Burna Boy and the Internet went wild with excitement in 2017? Well, the full story is out, and it isn’t…

Viral Pre-Wedding Photos Of A Very Tall Guy And His Fiancee
Romance and Love
23 views
Romance and Love
23 views

Viral Pre-Wedding Photos Of A Very Tall Guy And His Fiancee

PH - January 24, 2018

When it comes to getting a partner, every individual has their personal preference. This pre-wedding photos of a very tall guy and his beautiful fiancee is just…

Wayne Rooney Sells Off His BMW i8 Electric Supercar After Driving Ban (Photos)
Sports
28 views
Sports
28 views

Wayne Rooney Sells Off His BMW i8 Electric Supercar After Driving Ban (Photos)

PH - January 24, 2018

Everton striker and former England captain, Wayne Rooney, has sold off his BMW i8 electric supercar he bought for around £50,000  in 2015. This comes after the…

PDP Reportedly Shortlists Five Heavyweight Politicians For 2019 Presidential Elections (See Full List)
Politics
95 views
Politics
95 views

PDP Reportedly Shortlists Five Heavyweight Politicians For 2019 Presidential Elections (See Full List)

MT - January 23, 2018

The Peoples Democratic Party (PDP) is reportedly banking on seven people to challenge the All Progressives Congress (APC) in the presidential contest ahead of the 2019 general…

How Buhari Ordered For My Arrest And That Of My Colleagues In Abuja – Oby Ezekwesili
Politics
82 views
Politics
82 views

How Buhari Ordered For My Arrest And That Of My Colleagues In Abuja – Oby Ezekwesili

MT - January 23, 2018

Co-leader of the Bring Back Our Girls (BBOG) movement, Oby Ezekwesili, has revealed on her Twitter account this Tuesday afternoon that some police officers deployed by the…

What Manchester United Number 7 Jersey Means To Me – Alexis Sanchez
Sports
60 views
Sports
60 views

What Manchester United Number 7 Jersey Means To Me – Alexis Sanchez

MT - January 23, 2018

Manchester United striker, Alexis Sanchez, has revealed what the club number 7 jersey means to him. The Chilean international was handed the iconic number seven shirt on…

Oscars 2018: See The Full List Of Nominees For The 90th Annual Academy Awards
Entertainment
58 views
Entertainment
58 views

Oscars 2018: See The Full List Of Nominees For The 90th Annual Academy Awards

MT - January 23, 2018

  The nomination list for the 90th annual Academy Awards have been released. The Oscars will take place at Los Angeles’ Dolby Theater on March 4, 2018 and…

Here Is The Intriguing Life Of Talented Nigerian Rapper, Ycee
Entertainment
55 views
Entertainment
55 views

Here Is The Intriguing Life Of Talented Nigerian Rapper, Ycee

MT - January 23, 2018

Oludemilade Martin Alejo popularly known by his stage name YCEE, is a Nigerian rapper and songwriter currently signed to Tinny Entertainment. Early Life & Education YCEE was…

Davido Dresses Up Like An Old Man And This Is What He Looks Like
Entertainment
78 views
Entertainment
78 views

Davido Dresses Up Like An Old Man And This Is What He Looks Like

MT - January 23, 2018

Davido shot the video for his first song of the year ‘Flora My Flawa’ yesterday and he had some funny costumes. He’s seen here dressed as an…

These 5 Female Nigerian Celebrities Will Make You Embrace Low Cut
Entertainment
79 views
Entertainment
79 views

These 5 Female Nigerian Celebrities Will Make You Embrace Low Cut

MT - January 23, 2018

Deciding to wear a low cut takes a lot of bravery and commitment and many Nigerian celebrities have taken up this style. Many international celebrities like Teyanna…

A Background Into The Fabulous Life Of Petite Singer, Di’Ja
Entertainment
66 views
Entertainment
66 views

A Background Into The Fabulous Life Of Petite Singer, Di’Ja

MT - January 23, 2018

Hadiza Blell, better known by her stage name Di’Ja, is a Nigerian singer, visual artist and songwriter. She is currently signed to Mavin Records. Early Life &…

President Buhari Reveals How He Will End Herdsmen Killings
Politics
62 views
Politics
62 views

President Buhari Reveals How He Will End Herdsmen Killings

MT - January 23, 2018

President Muhammadu Buhari yesterday assured Nigerians that the rising attacks on communities by herdsmen will soon be brought under control by security forces deployed to the vulnerable…

List Of 16 States Ready To Establish Cattle Colonies For Herdsmen
Politics
73 views
Politics
73 views

List Of 16 States Ready To Establish Cattle Colonies For Herdsmen

MT - January 23, 2018

Sixteen states in the nation have agreed to establish cattle colonies for herdsmen. The establishment of cattle colonies was an idea proposed by the federal government to…

Loading...