Tony Elumelu Foundation releases names of 2017 shortlisted entrepreneurs, but can it achieve its 10-year vision?

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The Tony Elumelu Foundation yesterday, released the names of shortlisted candidates for its 2017 cohorts of the TEF Entrepreneurship program. This year, over 93,000 applications were turned in from all 55 African countries with 1000 candidates eventually making the shortlist.

Tony Elumelu

Tony Elumelu

Nigerian entrepreneur, and philanthropist, who is also the patriarch of the foundation, Mr. Tony Elumelu, broke the news yesterday via social media. He said:

“Today, as I turn 54, the Tony Elumelu Foundation ushers in an additional 1,000 African entrepreneurs. Applications were received from over 93,000 entrepreneurs across 55 African countries… Today I am proud and happy to welcome our 2017 Tony Elumelu entrepreneurs.”

He also revealed that this year’s application represents over 100% increase from that of 2016, and nearly quadruple 2015 application numbers. An indication that the scheme is gaining popularity amongst African Entrepreneurs.

For a program that started out with the aim of creating 10,000 startups across Africa in the next 10 years that can create employment and wealth, it is safe to say it aims are realizable.

While it might still be early to judge the program, considering this is just the 3rd lap of a 10 year race, all indications from the application process down to testimonies of beneficiaries shows that the program is poised to achieve its vision.

The 2017 shortlisted candidates are expected to commence a 12-week online mentoring program in April where each startup will be paired with a mentor who helps with insights and directions on business building. Subsequently, a Bootcamp and TEF Entrepreneurship Forum takes place in July. After this, a $5000 non-refundable seeding funding is awarded to startups to build their business.

Check here for the full list of shortlisted candidate.

happywheels

I'm interested in stories, news and opportunities for African entrepreneurs. Be it tech, fashion, SMEs; breaking entrepreneurship stories is the next best thing that can happen to me, after Jollof

1 Comment

  1. Pingback: A mentor with the Tony Elumelu Foundation reveals what the Foundation considers before shortlisting a business - News website for African entrepreneurs

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