Steps To Follow And Win The Tony Elumelu Foundation (TEF) $5000 Grant 2022
The TEF Entrepreneurship Program is the $100million responsibility of Tony O. Elumelu, CON, an African financial backer, and donor, to recognize, tutor, and asset 10,000 African businesspeople in 10 years, to create a huge number of positions and income on the mainland. With the help of accomplices, the Program has scaled its responsibility past its responsibility of subsidizing 10,000 African business people.
I should submit all applications ONLINE through the APPLICATION PORTAL. Candidates should finish an application structure by noting a progression of obligatory inquiries and transferring extra records and recognizable proof materials. Later accommodation, you will get an affirmation email of receipt.
Qualification FOR TONY ELUMELU FOUNDATION ENTREPRENEURSHIP Program 2021
- The Program is available to all Africans
- Matured 18 years or more.
- All Applications should be for a Business Idea or business under 3 years Business thought should be for the benefit, centered around one business region in particular, and should be the first thought of the Applicant.
- The Business or Business Idea should not be for any illicit or untrustworthy reason.
By what criteria are the applicants to be judged?
They will judge all applications on 5 core criteria, which are:
- – Feasibility of the business idea.
- – Market Opportunity: Knowledge and understanding of the market, customers, and competitors for their idea/business.
- – Financial Understanding: Understanding the basic financial requirements of running a business, costs, and revenues.
- – Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
- – Leadership Potential and Entrepreneurial Skills: Demonstrate leadership potential, capable of attracting people, customers, and resources.
The following categories of persons are not eligible to apply:
- Employees from the Tony Elumelu Foundation, companies within the Heirs Holdings (HH) Group, affiliates of HH, and their Immediate Family Members either individually or as part of a Business.
- Research institutions, faith-based organizations, government agencies, and Businesses not located in Africa will not be eligible to apply for the Programme.
Significant NOTICE
- Just Applications got during the Application Window will be thought of.
- Candidates are not needed to make any buy or installment to get to TEFConnect
- Just a single Application is allowed per Applicant for a Business Idea or Business.
- All Applications should be made straight by the Applicant behind the Business Idea or Business being submitted for the Program.
- The Applicants are liable for guaranteeing they can take part in the Program as set out in these Terms and Conditions. They should likewise (on account of organizations/associations/co-proprietorships/joint endeavors) give proof of assent from accomplices, chiefs, and investors for their support as delegates of a Business.
THE FOLLOWING APPLICATIONS SHALL BE REJECTED AND NOT CONSIDERED
- Many applications by similar Applicant whether using something very similar or various names, email addresses, Business Idea or Business.
- Applications by TEF Alumni or their Business Partner.
- Applications by people excluded under any past TEF program.
- Fragmented and erroneous application
- Applications that contain illicit or exploitative Businesses or Business Ideas.
APPLICATION PROCESS
They will sort fruitful candidates into one of the accompanying classifications:
- Start Up,
- Innovator,
- Disruptor (“Training Categories”)
Fruitless Applicants will be sorted as Preparatory and will be coordinated to take the Free Startup Enterprise Toolkit on TEFConnect and will be qualified to reapply for other TEF Programs.
Confirmation AND ONBOARDING
Fruitful Applicants should be checked and onboarded. Confirmation will run for the span of the Startup Enterprise Toolkit™.
Effective Applicants who don’t meet the check necessities will be taken out from the Program and advised of expulsion utilizing email.
Coaching
Program Participants will approach a Mentor to give direction and backing to them during the Program.
They relied program Participants upon to meet all tutoring prerequisites including the base contact hours and finish of week-by-week overviews.
BUSINESS TRAINING
When Successful Applicants are onboarded, they continue to the preparation stage and are conceded admittance to embrace the Foundation’s restrictive Startup Enterprise Toolkit™ on TEFConnect dependent on the individual Training Categories.
The Startup Enterprise Toolkit™ will run for a time of 12 weeks during which Program Participants’ advancement will be followed and evaluated It will be made accessible in English, French, Portuguese and Arabic.
Endless supply of the last seven day stretch of Startup Enterprise Toolkit™ Program Participants will be evaluated and top scoring Program Participants will be informed through email that they will continue the Business Plan arrangement stage.
Program Participants who don’t finish this stage or don’t continue past this phase of the Program will be eliminated from the Program and be advised by email
Strategy PREPARATION and SUBMISSION
Program Participants shortlisted from the business preparing they will give stage fourteen days to create and present a strategy through TEFConnect for audit and evaluation, in view of pertinent measurements including practicality and maintainability. Program Participants should present their Business Plans by the cutoff time to be qualified for thought for the following stage.
Means of email will advise the top scoring Program Participants from this stage and will continue to the Pitching Competition stage.
Any Program Participant who doesn’t finish this phase of the Program or isn’t fruitful at this stage will be taken out from the Program and advised of expulsion by means of email.
A preparation testament will be given to all Program Participants who are effective at the Business Plan stage and they will be ordered as TEF Trainees.
PITCHING COMPETITION
Top scoring Program Participants shortlisted from the strategy stage will take an interest in the Pitching Competition where they will pitch their strategies to a board of judges.
Top scoring Program Participants from the Pitching Competition will be chosen dependent on a foreordained determination models and will be qualified to get the Seed Capital.
Program Participants who are not chosen from the Pitching Competition to get the Seed Capital will be advised through email and will be ordered as TEF Trainees.
Any Program Participant who doesn’t finish this phase of the Program will be taken out from the Program and advised of evacuation through email.
SEED CAPITAL
The Selected Entrepreneurs from the Pitching Competition will be reported on the Foundation’s site and furthermore advised with email.
Support LIST
There will be a support list comprising Program Participants who have scores nearest to the Selected Entrepreneurs from the Pitching Competition. We will fill financing openings which hence become accessible from the Buffer List. Program Participants who are on the Buffer List won’t be educated until they get a proposal because of a financing space opening up.
It will need any Program Participant who has gotten a deal to affirm acknowledgment from the timetable. Inability to acknowledge inside the timetable will nullify the deal. Where the deal is effectively acknowledged at that point, such Program Participant will be viewed as a Selected Entrepreneur and needed to meet all relevant conditions to get the seed capital.
Correspondence
Correspondence with Applicants and Program Participants on Program updates and declarations will essentially be by email to the email address gave on the Application structure, and through TEFConnect. The Promoter might decide to likewise contact Applicants and Program Participants by telephone yet isn’t obliged to.
Steps To Follow Once Your Business Is Selected
If we offer Applicants a spot in the Program, Applicants will be relied upon to:
-Give verification of substantial ID,
–Complete a self-revelation structure,
-Give an individual bank explanation from the beyond a half year
-Give an assertion of current individual obligations.
-Give a reference from a business, bank or potentially scholarly foundations;
-Give business ledger subtleties (For UBA present nations, it should be a UBA account)
