Looking for $5,000 to launch your start-up? Check Tony Elumelu Entrepreneurship Program out!

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Tony Elumelu, billionaire businessman and African entrepreneurship advocate has announced on Facebook that the second cycle of the TEEP foundation will be accepting a new set of applications from the 1st of January, 2016.

The Tony Elumelu Entrepreneurship Programme (TEEP) is decade-long $100m initiative designed to give training, mentorship and seed capital to 10,000 entrepreneurs with start-up business ideas they want to execute in Africa. It is one of the foundations established by the philanthropist to carry out his dream of staying committed to the economic transformation of Africa by enhancing the competitiveness and growth of the African private sector, through a push for entrepreneurship.

He wrote on facebook: “Through the TEEP, the Tony Elumelu Foundation promised to provide investment, training, mentoring and seed capital to this next generation of African Entrepreneurs. One year later, I am proud to say that we are meeting our milestones and already recording visible transformations in the businesses of our entrepreneurs”.

Tony Elumelu Entrepreneur, 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”.

The first cycle of TEEP investment saw a total of $972 million disbursed to 972 entrepreneurs across the continent. Fund has committed to investing a total of $100 million over 10 years. The 2015 round drew over 20,000 applicants from 51 countries and has created partnerships with entrepreneurs across Africa and Internationally.

To stay informed about the Tony Elumelu Entrepreneurship Programme including the 2015 selection of African Entrepreneurs, click here.

 

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