How to Prepare, Apply and Win 2021 Tony Elumelu Foundation $5000 Grant in Africa.
Let’s start to let us know the general information on the foundation website, and this will be a guide to preparing for 2021 Tony Elumelu Foundation $5000 Grant Application.
Due to the ongoing pandemic which has disrupted activities globally, the Foundation has decided TO POSTPONE ITS 2020 PROGRAMME AND FORUM UNTIL 2021. Here’s what you need to know about The POSTPONEMENT:
Frequently Asked Questions
In relation to the postponement of the 2020 TEF Entrepreneurship Programme and TEF Forum. Click HERE to read the announcement.
1 – Why has the Tony Elumelu Foundation postponed the TEF Entrepreneurship Programme and TEF Entrepreneurship Forum until 2021?
In light of the ongoing COVID-19 global pandemic which has disrupted activities globally, the Foundation recognises that it will be insensitive and logistically impossible to go on with its flagship TEF Entrepreneurship Programme and TEF Entrepreneurship Forum as previously scheduled.
We are refocusing our intervention to provide virtual training programmes and business diagnosis for African entrepreneurs during these distressing times on TEFConnect.com in compliance with social distancing directives.
2 – When will the TEF Entrepreneurship Programme and TEF Entrepreneurship Forum be postponed to?
The TEF Entrepreneurship Programme and the TEF Entrepreneurship Forum are postponed until 2021.
3 – What will happen to my application to the 2020 TEF Entrepreneurship Programme?
Entrepreneurs who have applied for the 2020 TEF Entrepreneurship Programme and have been advised to proceed to the next stage, will continue with the process in 2021 and will not need to re-apply.
We are pleased to share that for the 7th edition of the TEF Entrepreneurship Programme in 2021, the Foundation will double its own commitment to select 2000 entrepreneurs (1000 entrepreneurs for 2020 cohort and 1000 entrepreneurs for 2021 cohort) instead of annual selection of 1000 entrepreneurs. Thus, there will be no lost opportunities for the 2020 applicants to the programme.
4 – Can I apply again in 2021 if I was not advised to proceed to the next stage?
For applicants who were not confirmed to proceed to the next stage of the TEF Entrepreneurship Programme application this year, we encourage you to reapply when the applications open in 2021.
5 – Will there still be a Mentorship Programme in 2020?
Mentorship for the TEF Entrepreneurship Programme will also be postponed to 2021. We encourage all our mentors to remain engaged as part of the TEFConnect community where the Foundation will share information, opportunities and relevant content to keep the ecosystem engaged, informed and prepared for the challenges ahead.
If you are a current mentor and would like to host a webinar or virtual trainings, please click on this LINK to sign up.
6 – How will the Tony Elumelu Foundation support entrepreneurs during this period?
The Foundation will launch a series of bespoke virtual programmes for entrepreneurs, addressing critical startup needs. This will include free access to business support, diagnosis and clinics, SME-recovery initiatives and strategic business webinars and masterclasses, hosted on TEFConnect, the digital entrepreneurship hub for African entrepreneurs. We will also work with our partners including policymakers, governments and development finance institutions to catalyse assistance for African entrepreneurs post COVID-19.
7 – How do I benefit from the bespoke virtual training programmes offered by the Tony Elumelu Foundation?
The opportunities we are offering this year are freely accessible to the general public, including all entrepreneurs, on https://tefconnect.com.
8 – Do I have to pay to access TEFConnect?
Access to TEFConnect is free. Visit and sign up on https://tefconnect.com to access key resources, learn new business tools and insights, and network with over 1 million entrepreneurs, investors and mentors.
9 – I have a solution to help Africans during the coronavirus outbreak. How can I reach out to you?
We encourage entrepreneurs to work collaboratively at this time in tackling this pandemic. Please register your solution on TEFConnect.com. You may also send us an email via email@example.com.
Let’s look at another article from foundation website
Find Out How to Apply For the Tony Elumelu entrpreneurship program
How do I apply for the programme?
All Applications must be submitted ONLINE through the APPLICATION PORTAL. You must complete an application form by answering a series of mandatory questions and uploading additional documents and identification materials. After submission, you will receive a confirmation email of receipt.
What if my company is a partnership?
Only one nominated person from the business or the partnership is able to join the programme.
Can I apply offline?
No. All Applications must be submitted online through the application portal.
How is the Programme Selection Process?
- 1- How are selected applicants chosen to join the programme?
Selection of the applicants will take place from the close of the Application on March 31st, by the Tony Elumelu Foundation and an independent Selection Committee appointed by the Foundation, against the specified selection criteria.
- 2- By what criteria are the applicants to be judged?
All applications will be judged 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 of 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.
- 3- The Tony Elumelu Foundation itself is located in Nigeria, does this give preference to Nigerian entrepreneurs?
No. The TEF Entrepreneurship Programme is a Pan-African programme and open to business ideas from all the 54 African countries from which we will select the best business ideas for the programme.
- 4- If my start-up is selected to join the programme, when and how will I be informed?
Successful applicants will be notified via the email address designated in the initial application. The list of selected entrepreneurs will also be posted on the TEF Website.
5- What additional information must I supply once my business is selected?
If Applicants are offered a place in the Programme, Applicants will be expected to:
–complete a self-declaration form,
-provide proof of valid ID,
-provide a personal bank statement from the past 6 months,
- -provide a statement of current personal debts.
- -provide a reference from an employer, bank and/or academic institutions;
- -Provide business bank account details (For UBA present countries, it must be a UBA account)
- 6- Why was my application unsuccessful?
Since inception we have received over 65,000 applications for the limited spaces on the programme, while we can only accept 1000 entrepreneurs each year. Here are a few possible reasons why your application was not successful:
- -You did not complete the application
- -Your business or idea is more than 3 years old
- -Your business or idea is not based in Africa
- -Your descriptions in one or more sections of the application was not clearly described
- -Your application did not meet other eligibility criteria
- -You scored low in one or more of the selection criteria.
- 7- How can I improve my chances next year?
Ensure that you review the selection criteria in the next programme cycle and be sure to describe your business plan or idea such that every aspect of the business or idea (i.e. description, market, customer acquisition, financials etc.) is fully covered.
- 8 – If not selected, can I reapply in another programme cycle?
Yes. We will open the platform for applications on January 1 every year. Each applicant will be required to put in a fresh application. We believe the elapsed time should serve to refresh your interest in your entrepreneurial objectives, and there might be new developments to include in the application.
What if English is not my first language?
The application portal will have functionality in English, French and Portuguese.
What information/identification do I need to provide in my application?
You must answer all the mandatory questions in the application form.
How many applicants will be chosen to join the programme?
- Following applications, entrepreneurs will undergo business training.
- Shortlisted candidates will prepare and submit an updated business plan
- Top performing entrepreneurs will be shortlisted to go through a pitching phase in all 54 African countries, in English, French, Portuguese or Arabic.
- Top performers will be selected to receive the $5,000 seed capital.
- Finalists to receive $5,000 seed capital will be announced at the TEF Forum
Are there application/associated fees?
No. The Tony Elumelu Foundation does not charge any applicants a fee for applying to the programme.
To be Continued
- FREE 250,000 FG/CAC BUSINESS NAMES REGISTRATION FOR MSMEs Is Now Opened - October 19, 2020
- How to Prepare, Apply and Win 2021 Tony Elumelu Foundation $5000 Grant in Africa. - October 15, 2020
- All You need to know about NIGERIA YOUTH INVESTMENT FUND PRODUCT PROGRAM - October 13, 2020