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Tony Elumelu Foundation Commits $100M To African Entrepreneurs



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In his recent article in the Economist, Tony Elumelu declared that, “In 2015, the African entrepreneur will explode on to the global stage, as a new generation shows the world what those of us doing business in Africa have long known: that our continent is home to some of the most exciting and innovative entrepreneurial talent.”

Today, we take the first step to helping the explosion happen.

At 11:00am, during a major press conference at Heirs Place, Mr. Elumelu announced the launch of The Tony Elumelu Foundation Entrepreneurship Programme (TEEP).

TEEP is the flagship entrepreneurship programme of the Tony Elumelu Foundation, with the aim to create 10,000 businesses that span the continent, generating 1,000,000 new jobs and contributing at least $10 billion in annual revenue to the African economy.

It is backed by $100,000,000 and a commitment to giving start-ups and entrepreneurs with a dream the funds, the mentorship, and the network, to become the next generation of global business titans from Africa.

The 1,000 start-ups selected from the tens of thousands of applicants across the continent will participate in a comprehensive programme designed to equip them to build successful value adding businesses. The programme includes seed capital funding, a customized 12-week business skills training course, mentoring, an entrepreneurship ‘boot camp,’ participation in the annual Elumelu Entrepreneurship Forum, membership in the TEEP Alumni Network and much more.

More details about the program, including eligibility and the application and selection processes are available on the website at:

Encourage your friends and family to apply and tell your networks about this exceptional opportunity. Follow @TonyElumeluFDN for more information on the process and the program and use #AfricanEntrepreneurs to join the conversation.

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