TEEP, the flagship programme of The Tony Elumelu Foundation, is a US$100m initiative to support emerging entrepreneurs across Africa over 10 years and this year the 2nd round is currently open. It aims to generate a projected $10bn in revenues for Africa and over 1 million jobs for citizens .
Tony Elumelu, a prominent African business entrepreneur and philanthropist, founded the programme because of his:
- Inclusive economic philosophy of Africapitalism, based on the belief that a vibrant African-led private sector is the key to unlocking Africa’s economic and social potential
- Commitment to drive African economic growth through the fostering of African entrepreneurship
- Mission to institutionalise luck and create an environment where home-grown pan-African companies in various sectors can flourish.
The entrepreneurs who make it to the final of the programme receive $5000 in seed funding for their startups, as well as many valuable lessons on managing them over the course of a year.
To apply, entrepreneurs must apply online here that respond to questions on their personal backgrounds, their experience and what their business idea is as well as plans for growth and the proposed pan-African impact of their startup. The successful applicants will have access to the online live-learning support, web mentoring, immersive boot camp, resource library, global entrepreneurship forum, seed funding and membership of the alumni network.
— Tony Elumelu FDN (@TonyElumeluFDN) February 3, 2016
In 2015 the program had over 20,000 applicants from 51 countries and has created partnerships with entrepreneurs, the private sector and governments across Africa and internationally.