The Tony Elumelu Foundation announces TEEP 2016, the second annual round of the $100m Tony Elumelu Entrepreneurship Programme (TEEP) for emerging African entrepreneurs.
- In 2015, TEEP empowered 1,000 African entrepreneurs, selected from over 20,000 applicants, with start-up investment, active mentoring, business training, an entrepreneurship boot camp and regional networking across Africa.
- Entrepreneurs, with an average age range of 21-40, from 51 African countries completed the programme and received $5,000 in seed capital for their start-up businesses.
- The Tony Elumelu Foundation invested a total of $4,860,000, including $1,405,000 in agriculture; $410,000 in education and training; and $365,000 in manufacturing. The sector-agnostic programme funded start-ups across a further 20 industries, all based in Africa.
TEEP opens for entries at 00:00am WAT on 1st January 2016 and will accept applications until midnight WAT on March 1st, 2016. To be eligible, entrepreneurs must complete the online application form with questions on their background, experience and business idea, plans for growth and proposed pan-African impact. Click here to look at full listing.
TEEP, the flagship programme of The Tony Elumelu Foundation, is a $100m initiative to support emerging entrepreneurs across Africa over 10 years, aiming to generate a projected $10bn in revenues for the Continent and one new million jobs for its citizens. The 2015 round drew over 20,000 applicants from 51 countries and has created partnerships with entrepreneurs, the private sector and governments across Africa and internationally.