Tony Elumelu Foundation Commits $100m To African Entrepreneurs

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.”

At 11:00am, during a major press conference at Heirs Place today December 1sr, 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. See more after the cut....

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.