Tony Elumelu Foundation (TEF) Entrepreneurship Programme is a grant from the Tony Elumelu Foundation that funds African entrepreneurs with seed capital, mentoring, and business training. Launched in 2015, it is the largest African philanthropic initiative committed to empowering entrepreneurs across the continent.

The program provides up to US$5,000 in non-refundable seed capital along with training, mentorship, and networking opportunities. Eligible applicants are citizens or legal residents of any of the 54 African countries, aged 18 and above, with a business idea or a business that has been operating for less than three years.

TEF2025 - TEF Entrepreneurship Programme FAQ- THE TEF ENTREPRENEURSHIP PROGRAMME SELECTION PROCESS Launched in 2015, the Tony Elumelu Foundation Entrepreneurship Programme is the largest African philanthropic initiative committed to empowering African entrepreneurs and entrepreneurship on the continent.

The Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme The Tony Elumelu Foundation Entrepreneurship Programme: A Step-by-Step Breakdown of Our Process At the Tony Elumelu Foundation (TEF), we believe that Africa’s transformation lies in the hands of its young entrepreneurs. Since the launch of the TEF Entrepreneurship Programme in 2015, we have provided up to 2.

5 million young Africans with access to training on our digital hub, TEFConnect, and disbursed over US$ 100 million in direct funding to over 24,000 African women and men, who have collectively created over 1. 5 million direct and indirect jobs, having been provided with the funding, training, and mentorship needed to build and scale successful businesses. But what does it take to be selected for our programme?

What are the key stages that ensure only the most promising entrepreneurs receive support? Our process is designed to be rigorous, transparent, and impactful, ensuring that we empower those with the greatest potential to drive economic growth and create jobs.

Here, we break down the seven key phases of the TEF Entrepreneurship Programme— from application to seed capital disbursement—giving you a behind-the-scenes look at how we turn ideas into transformative businesses.

What To Expect from the TEF Entrepreneurship Programme Through a structured, transparent, and rigorous selection process, we ensure that the most deserving entrepreneurs receive the training, mentorship, and funding needed to succeed. Our Programme is delivered in the following key phases: 1. Application Phase: application submission 2.

Due Diligence Phase: application review, world check and physical verification 3. Shortlisting Phase: shortlist and selection announcement 4. Training Phase: access to TEF training, pairing with mentors, and coaching sessions 5.

Investment Readiness Phase: business plan development, financial projection and pitch video submission 6. Seed Capital Phase: disbursement and onboarding into the TEF Alumni network Breaking Down the Phases: From Application to Funding Every year, the application portal for our flagship TEF Entrepreneurship Programme opens on the 1st of January till midnight on the 1st of March at Midnight, on our digital platform, www. TEFConnect.

com. In this phase, applicants are required to register on the platform and complete our programme’s application form by providing valid and accurate responses. Upon successful submission of the application, the applicant will be notified of their eligibility status through a dialogue box that appears on the screen, and via email.

The Foundation engages independent third-party experts to review the applications that are deemed eligible. Eligibility criteria include: 1. Applications from Africans who are 18 years and above.

2. Applications from applicants who either have a business idea or have a business no older than 5 years. 3.

Applications from Africans who reside in Africa and plan to establish their business in Africa. 4. Applications from applicants who have never benefitted from any of our previous programmes.

5. Applications from applicants who have not previously applied in the same application window of the same year. To maintain transparency and integrity in the application process, all applicants are required to upload a valid, clear, and accessible government-issued ID that displays their date of birth and photo, along with a high-resolution headshot.

Additionally, applicants must ensure that their name and personal details registered on TEFConnect exactly match the information on their government-issued ID. Our programme’s application form is broken down into four (4) sections: 2. Business Idea & Experience Information 3.

Business assessment test While completing the application form, applicants are required to: 1. Complete all mandatory fields in the online application form on TEFConnect. 2.

Attach all the requested documents (valid identity card and photo headshot) and upload the required documents. 4. Receive a notification on eligibility & next steps.

Following the annual closure of our application window on March 1, the applications are immediately and automatically reviewed, applicants are immediately notified on the TEFConnect platform of the category into which they fall under: Applicants who receive an ineligibility notification via TEFConnect and email did not meet the minimum required score in the application business assessment test.

They are encouraged to reapply the following year. Applicants who meet the minimum score requirements will be notified via TEFConnect and email and will progress to the next phase of the programme. Following the successful submission of applications, applicants who are deemed eligible will undergo our verification process, where we work with independent third-party experts to confirm the applicants’ personal and business details.

Applicant Eligibility Criteria The following structured review processes and criteria are applied to these applications: 1. Validation of Application and Business Idea Review ◦ All applications and submitted documents undergo verification to confirm authenticity. ◦ Our independent third-party experts assess the business idea for feasibility, scalability, market potential, and financial viability.

◦ Applicants who meet the review expectations are shortlisted for the verification and compliance screening. 2. Global World-Check Compliance and Physical Verification ◦ Shortlisted applicants undergo the LSEG World-Check screening, a global risk intelligence database, to ensure compliance with global financial and business regulations.

◦ Applicants who pass the screening then participate in our Physical Verification Exercise, conducted by authorised enumerators, to confirm the applicants’ identity and legitimacy of the business documents provided, where available. Verification may be done via physical visits or virtually.

Applicants who successfully pass our application review, global compliance and physical verification screening are considered for participation in the TEF Entrepreneurship Programme for that cohort. Applicant Shortlist Criteria Our shortlist is based on a rigorous evaluation process that ensures the most promising applicants receive the support needed to kick-off or scale their businesses successfully.

The following key criteria are considered: The viability of the business idea is assessed to determine whether it can operate effectively in its current environment. This includes evaluating the practicality, sustainability, and potential risks associated with the business. A feasible business should demonstrate a clear value proposition, a well-defined business model, and the ability to address an existing problem or need.

A strong business must have a well-defined target market with substantial demand for its products or services. This criterion assesses the size, accessibility, and potential growth of the market, as well as how the business differentiates itself from competitors. Applicants should be able to demonstrate market research insights and a clear strategy for customer acquisition.

3. Financial Understanding Applicants must exhibit a strong grasp of financial management and demonstrate the ability to make informed financial decisions. This includes an understanding of cost structures, revenue streams, pricing models, and profitability projections.

Businesses should have a clear plan for managing resources, tracking expenses, and ensuring financial sustainability. The potential for business growth and expansion is a critical factor in the selection process. This criterion evaluates whether the business model can be replicated, expanded into new markets, or attract investment over time.

Scalable businesses should have the capacity to increase revenue while maintaining or improving efficiency. 5. Leadership and Entrepreneurial Skills A successful entrepreneur must possess strong leadership qualities, resilience, and a proactive mindset to navigate challenges and drive business growth.

This criterion assesses the applicant’s ability to inspire teams, make strategic decisions, and adapt to evolving market conditions. Applicants who demonstrate innovation, problem-solving abilities, and commitment to long-term success are given strong consideration.

TEF Entrepreneurship Programme Onboarding Every year, successful applicants who have been shortlisted to participate in our flagship TEF Entrepreneurship Programme are notified of their participation confirmation on the 22 nd of March. Applicants confirmed to participate in the programme are invited to an onboarding session—either physical or virtual—and are thereafter referred to as TEF Entrepreneurship Programme Participants.

At these onboarding sessions, representatives from the various TEF departments meet with the Programme Participants where they share with the participants what to expect from their journey to empowerment through the TEF Entrepreneurship Programme. This includes our programme structure, training modules, mentorship opportunities, access to business plan templates, capacity-building activities, and key programme timelines.

Following the onboarding session, Programme Participants are officially enrolled in the TEF Entrepreneurship Programme Business Management Training—a structured curriculum designed to equip them with the essential skills needed to start, manage, and scale their businesses.

This phase consists of self-paced learning modules, mentor pairing, and coaching sessions in the form of interactive masterclasses facilitated by experienced business leaders and industry experts. Mentorship is a cornerstone of the TEF Entrepreneurship Programme, ensuring that our Programme Participants receive expert guidance, industry insights, and strategic business support to navigate their entrepreneurial journey successfully.

The global TEF Mentor Guild is a carefully curated network of experienced professionals and business owners who have met the requirements to become TEF mentors. These individuals are passionate about fostering Africa’s next generation of business leaders and commit to guiding TEF entrepreneurs (mentees) towards sustainable business success.

For each programme cycle: • Mentors are assigned a maximum of three (3) mentees, ensuring focused and personalised guidance. • Pairing is based on shared language, interests, and industry, fostering deeper connections and relevant business insights. • Each mentor commits to a minimum of two (2) hours of mentoring per mentee every month, ensuring regular engagement and support.

As part of the TEF Entrepreneurship Programme, coaching sessions are delivered through interactive masterclasses, designed to break down key training modules into practical, real-world applications. These sessions go beyond theoretical knowledge, providing entrepreneurs with hands-on insights, case studies, and direct engagement with industry experts.

These coaching sessions are facilitated by seasoned business leaders, industry experts, and investors who have deep experience in entrepreneurship, business strategy, and African markets.

Each session is designed to complement the TEF Business Management Training, offering real-life applications of the concepts covered in each module; and highly interactive, allowing participants to ask questions, engage in discussions, and apply learning through live exercises. To successfully complete the training phase, Programme Participants must: 1.

Achieve 100% completion of all training modules on TEFConnect, which cover key areas such as business development, financial management, market research, and leadership. 2. Participate in coaching sessions, where seasoned entrepreneurs and industry professionals provide deeper insights into specific business challenges and opportunities.

3. Engage with assigned mentors, who provide tailored guidance, feedback, and support to help refine business strategies. 4.

Complete any additional activities officially stated as requirements for progressing to the next phase, including assessments and interactive discussions. Through this comprehensive training experience, Programme Participants gain practical knowledge, expert insights, and personalised mentorship to strengthen their business foundations and prepare for the Investment Readiness Phase. 5.

Investment Readiness Phase At the start of the training phase, all Programme Participants are provided with expert-developed business plan & financial projection templates with which they are develop and submit a cohesive business plan, financial projection of the business, and a 2-3-minute pitch video, leveraging the knowledge gained from the training modules, learnings from masterclasses, and the one-on-one sessions with their mentors.

Following the submission of these documents and files, TEF engages an independent audit consultanting firm to review the documents and files, indicate areas of improvement for each Programme Participants, and rank them based on their investment readiness. Programme Participants who are deemed investment-ready will be notified of their eligibility to move on to the seed capital disbursement phase.

The Tony Elumelu Foundation will provide a list of partner banks where Programme Participants are advised to open business accounts for easier fund tracking and disbursement. In this phase, Programme Participants who have successfully met all completion requirements for the investment readiness phase will be required to submit the following documents in order to receive their seed capital to launch or scale their business. 1.

A valid government-issued ID that clearly displays the participant’s headshot and full name, matching the details registered on TEFConnect. The ID can either be a valid National Driver’s Licence, a valid International Passport or a Permanent Voter’s Card (this applies to Nigerian Programme Participants only). 2.

A Business Registration Certificate that clearly captures the name of the business. 3. Evidence of tax registration, which must be in the business name.

4. A valid reference letter from their Business’ bank, which clearly captures the Programme Participant’s name (which matches the name registered on TEFConnect as well as the name captured on their submitted ID), the name of their business, and the bank details for the business. 5.

A duly completed Partner Consent form (applies only to Programme Participants that are co-owners of their business). 6. A valid medical report from a reputable hospital (applies only to Programme Participants living with disabilities).

The TEF Audit and Finance team will conduct a thorough review of the submitted documents. Programme Participants whose documents are endorsed will be deemed eligible to receive their $5,000 non-refundable seed capital and will be notified.

Programme Participants whose documents are not endorsed by the TEF Audit and Finance team will be immediately notified with detailed feedback and granted the opportunity to resubmit the documents in the right format that addresses the feedback provided. These documents will be subject to another round of reviews by the TEF Audit and Finance team for possible endorsement.

Programme Participants whose documents are discovered to be inauthentic, reflect discrepancies in information, or match the document details of past TEF Entrepreneurship Programme beneficiaries are immediately disqualified.

Confirmation of Seed Capital Disbursement At the point of receiving the seed capital, Programme Participants are required to sign the TEF Entrepreneurship Programme seed capital undertaking in order for payment to be processed into the business account provided to us.

Onboarding into the TEF Alumni Network Following receipt of the seed capital, Programme Participants are provided with an acknowledgement form after which they are granted the TEF Entrepreneurship Programme Certificate of Completion and Achievement and are onboarded into our 21,000+ strong TEF Alumni network of business leaders.

The Programme Participants are now officially referred to as: • Tony Elumelu Entrepreneurs; • Tony Elumelu Foundation Alumni (TEF Alumni); and/ or • Tony Elumelu Foundation Beneficiaries (TEF Beneficiaries) We are vested in the transformation of entrepreneurship in Africa to shape the continent for the next generation.

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