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:
How to Prepare, Apply and Win 2021 Tony Elumelu Foundation $5000 Grant in Africa.
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 enquiries@tonyelumelufoundation.org.
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.
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- 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.
How to Prepare, Apply and Win 2021 Tony Elumelu Foundation $5000 Grant in Africa.
How to Prepare, Apply and Win 2021 Tony Elumelu Foundation $5000 Grant in Africa.
THE 7TH EDITION OF THE TONY ELUMELU FOUNDATION
ENTREPRENEURSHIP PROGRAMME (2021)
How to Prepare, Apply and Win 2021 Tony Elumelu Foundation $5000 Grant in Africa.
PREVIEW
The Tony Elumelu Foundation Entrepreneurship Programme is a $100million commitment made by the Elumelu family to empower 10,000 African entrepreneurs over a 10-year period through, training, mentorship and funding. The goal is to create at least 1million jobs and contribute over $10billion in revenue to the African economy.
Through its flagship Entrepreneurship Programme the Foundation empowers African entrepreneurs and the entrepreneurship ecosystem across 54 African countries. The TEF training curriculum has been designed to segment entrepreneurs based on the demonstrated capability and knowledge.
The training has been tailored to educate and capacitise you in starting or growing your business to overcome the challenges faced by entrepreneurs across the African continent. The curriculum focuses on practical, iterative learning that is useful even long after the training period.
NOTE: Completion of the training programme is a strict condition to moving forward to the submission and review of your business plan, participation in the pitching competition, and receipt of seed capital.
THE APPLICATION FORM
The application form consists of four parts:
(1) Personal information
(2) Commercial information
(3) Cognitive assessment
(4) Declaration section
In order to ensure a transparent application process, all applicants will need to have a valid government issued ID and indicate their name on the application form on TEFConnect exactly as it appears on the ID card.
ALL APPLICANTS WILL BE REQUIRED TO:
- Complete all mandatory fields in the online application form on TEFConnect.
- Submit the form
- Attach all the requested documents (valid identity card and photo headshot) and upload the required documents
- Expect Foundation comments.
PLEASE NOTE: TEFConnect can only be accessed by a single email account. It is important that all applicants register with an email to which they have regular access
WHAT TO EXPECT FROM THE PROGRAMME?
The Entrepreneurship Programme identifies outstanding African entrepreneurs who have start-ups or business ideas with the potential to grow. The TEF Entrepreneurship Programme will be delivered in different phases as listed below:
- Application Phase
- Training &Mentorship Phase
- Business Plan Submission Phase
- Pitching Phase
- Seed Capital Phase
THE APPLICATION PHASE
This will take place from the January 1 to March 31. Once applications are closed, eligible applicants will be placed in the appropriate training path as follows:
PREPARATORY
This means you do not have the skillset needed to start a business. You will go through the general training on TEFConnect. You will, however, not be eligible for mentorship or seed capital.
START-UP/ BEGINNER
This means you are a starter according to the business start-up profiling. You will go through the beginner training modules and you will have access to world class mentors during the programme.
INNOVATIOR/ INTERMEDIATE
This means that you have been profiled to be an intermediate entrepreneur. You have a good potential to be a successful entrepreneur. You will go through the Intermediate training modules and you will have access to world class mentors during the programme.
DISRUPTOR/ ADVANCED
This means that you are or identified to be natural or a seasoned entrepreneur. You will go through the Advanced training modules and you will have access to world class mentors during the programme.
THE TRAINING AND MENTORSHIP PHASE
Once shortlisted and placed in the appropriate training path, you will be eligible to take part in our rigorous business training and mentoring sessions. There will be multiple choice questions to track your performance. You will attend a virtual orientation program to learn more about the process and we will share timelines and resources available for you to succeed. The shortlisted entrepreneurs will be given access to join the peer-to-peer support groups.
- Shortlisted entrepreneurs will be expected to complete the business training, answer the quiz at each end of each module.
- The shortlisted applicants after the training will be given the opportunity to develop a BUSINESS PLAN
THE BUSINESS PLAN AND FINANCIALS SUBMISSION PHASE
At the end of the training, you will be required to combine all the learnings from the training into a single cohesive document. You will be given a business & financial plan template; this will be in the online resource library. This template will help you create a first draft of your business plan. write a business plan. After the BUSINESS TRAINING & BUSINESS PLAN SUBMISSION, only successful candidates (who complete the MCQs and score above cut off mark and submit a business plan) would be eligible to move on to the next stage: the PITCHING COMPETITION.
THE PITCHING PHASE
This is an opportunity to demonstrate your business knowledge and convince the judge about the feasibility of your business. At the pitching stage, entrepreneurs will pitch their ideas before a panel of judges. Only the successful candidates from the pitching competition will receive seed capital funding and access to the Alumni network to support their business ambitions.
If you successfully completed all required training requirements and submitted a business plan, but was unsuccessful after the pitching competition, you will receive a training completion certificate and can reapply next year.
Please note that this phase is another key outcome of this training programme and all shortlisted entrepreneurs must go through this phase to be eligible for SEED CAPITAL.
THE SEED CAPITAL PHASE
All entrepreneurs who have successfully completed all of the above steps will be required to open business accounts and seed capital will flow into these accounts created. An entrepreneur who is eligible to receive seed funding will be given a CERTIFICATE OF COMPLETION AND ACHIEVEMENT from the Foundation.
*Please note that beneficiaries of the Tony Elumelu Foundation or their business partners, and persons disqualified under any previous TEF programme are not eligible to participate in the TEF Entrepreneurship Programme.
Read Also: Video Training: top-7-changes-in-tony-elumelu-foundation-tef-5000-grant-2020-application-that-covid-19-did-not-allow-them-to-implement-and-preparation-for-2021-application
Watch the Video Below to see how to apply and Win the TEF 2021 Application
Click here to Apply
www.tefconnect.com
References
https://www.tonyelumelufoundation.org/tef-entrepreneurship-programme-postponement-faqs
https://www.tonyelumelufoundation.org/application-process
https://www.tefconnect.net/
To buy the remaining part of this business plan, including the detailed financial analysis, call any of our business plan consultants on 08105636015, 08076359735 and 08113205312. You can send a WhatsApp message or email us either at dayohub@gmail.com or info@dayoadetiloye.com.
We help institutions and organizations write concepts, implement Business plans, and train on business Plan writing in Nigeria.
We can help you write a detailed, bankable and comprehensive business plan for your business idea.
Call any of our business plan consultants on 08105636015, 08076359735 and 08113205312
Or send a WhatsApp message or email us either at dayohub@gmail.com or info@dayoadetiloye.com.
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