Applications for the fourth cycle of the Tony Elumelu Foundation's (TEF's) $100 million Entrepreneurship Development Programme are now open.
Founded by Nigerian serial entrepreneur and philanthropist Tony O Elumelu, the programme which was established 2015 and has to date received 158 000 applications from African entrepreneurs in 107 countries, including South Africa.
Since 2015, the programme has invested a total of $14.2 million, with ICT investment raking in the second most highest investments at $1.3 million after agriculture.
The programme is part of Elumelu's $100 million commitment to identify, train, mentor and fund 10 000 African entrepreneurs; create 1 million jobs and in so doing invest $10 billion in social and economic wealth by 2024.
"When we launched the TEF Programme and committed $100 million, I knew we would create impact, but I never imagined it would be of this magnitude. We've unleashed a movement of African entrepreneurs -- a force so strong, I am confident they will collectively transform Africa. We need Africa's best and brightest to grow their businesses and build our continent," says Elumelo.
The programme offers 1 000 businesses 12 weeks of online training, mentoring, access to the TEF's network of start-ups; as well as seed capital of $5 000.
Last year Microsoft, through its 4Afrika Initiative, collaborated with the TEF to provide entrepreneurs in the programme with technology-based tools, resources and mentorship. The global firm then identified high potential entrepreneurs from the programme and integrated them into its Innovation Grant Programme.
Close of entries is 1 March 2018 and interested parties can apply here.
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