The Tony Elumelu Basis opened functions for the seventh version of its $100 million entrepreneurship programme final week.
In accordance with the muse, this yr’s intervention will amongst others prioritise the financial restoration of younger African entrepreneurs following the extreme impacts of the Covid-19 pandemic.
“To deal with the distinctive challenges arising from the pandemic, carry thousands and thousands out of poverty and create sustainable employment throughout the continent, the Basis’s Entrepreneurship Programme will empower over 3,500 younger African entrepreneurs,” a press release from the muse reads partially.
Rwandans with revolutionary concepts and companies can apply for the programme.
Tony Elumelu Entrepreneurship Programme is arguably Africa’s main entrepreneurship programme that seeks to empower African entrepreneurs. It’s a brainchild of Tony Elumelu, Nigeria’s billionaire and Chairman of United Financial institution for Africa.
The programme is a 10-year, $100 million dedication to establish, prepare, mentor and fund 10,000 African entrepreneurs with an purpose of producing a minimum of 1,000,000 new jobs and create a minimum of $10 billion in new enterprise income throughout Africa.
Annually, the Basis selects about 1,000 entrepreneurs from totally different components of Africa to under-go a 12-week intensive on-line coaching.
Different advantages embody a non-refundable seed capital as much as $5,000, and international networking alternatives.
Now its seventh yr, the TEF Entrepreneurship Programme has empowered over 9,000 younger African entrepreneurs, together with Rwandans.
Impressed by Tony Elumelu’s financial philosophy of ‘Africapitalism’ and his imaginative and prescient to institutionalise luck and democratise alternative for a brand new era of African entrepreneurs, the muse has applied one of the bold entrepreneurship programmes globally.
In accordance with the Basis, chosen entrepreneurs from earlier years have remodeled their companies and their communities.
“The Tony Elumelu Basis now greater than ever is demonstrating our dedication to unleashing the potential of younger African entrepreneurs, the important thing to Africa’s long-term financial transformation.”
He added, “The pandemic has created challenges throughout the continent, however we all know that with the Tony Elumelu Basis’s tried and examined Programme, we will execute the biggest Covid-19 financial restoration plan for African SMEs and break the cycle of poverty in Africa.”
Functions will probably be judged based mostly on standards together with feasibility, scalability and potential for progress of the services or products, market alternative for the thought or enterprise, monetary understanding, management potential and entrepreneurial expertise, in response to the muse.
Candidates can apply on TEFConnect – www.tefconnect.com.