Representatives of Tony Elumelu Foundation published the list of 1000 candidates who have passed the selection and received the opportunity to participate in the large-scale entrepreneurship program this year.
Tony Elumelu Foundation entrepreneurship program details
1000 lucky people were selected from more than 150 thousand candidates. The organization collected applications from residents of 114 countries. The list of leaders included the most talented African entrepreneurs who proposed innovative projects with great potentials.
Tony Elumelu, famous Nigerian entrepreneur, the founder of the organization, commented on the situation as follows:
The number and quality of applicants, 151,000 in total, was outstanding. It illustrates the strength and depth of entrepreneurial promise and commitment on our continent. Selection is never easy, and we profoundly regret that we cannot help all. Our partnerships with the Red Cross, UNDP and Indorama, alongside ongoing discussions with other international organizations, reflect the growing global recognition of what we have known all along – that entrepreneurship is the most effective path to sustainable development on our continent and our Programme is the model to follow.
Brief statistics of the selection
The ratio of men and women among candidates was approximately equal. This indicates the high entrepreneurial ambitions of African ladies. 30.5% were entrepreneurs from the agricultural sector, 10.5% - technologists, 9% - from education.
REAd ALSO: NPower recruitment process and requirements in 2018
About the near future
Parminder Obe, CEO of Tony Elumelu Foundation, also commented the activities of organization:
Over the next nine months, the entrepreneurs will receive online training and mentoring, and will use the skills acquired to develop business plans prior to receiving $5,000 in seed capital. This will bring TEF’s total programme investment so far to $15 million in direct funding to entrepreneurs and $5.8 million in Programme and technology development and operations. Our beneficiaries have created more than 55,000 jobs and counting, and will convene from across all of Africa’s 54 countries to Lagos this October for the TEF Forum – the largest gathering of African entrepreneurs in the world.
Support of powerful partners
Within the standard selection of 1000 entrepreneurs, 250 additional seats were provided. The submitting of Tony Elumelu Foundation grants was made possible through partnership with strong organizations stretching their influence on the whole world:
- For example, its $1 million support from the International Committee of the Red Cross (ICRC). This money was provided to 200 entrepreneurs working with vulnerable Nigerian regions. This especially concerns the effects of Boko Haram attacks, the Niger Delta, oil spillages, and complex environmental situation.
- In addition, support was provided by the United Nations Development Programme (UNDP) in the amount of $200 thousand. The project involved 40 African entrepreneurs.
- It is also worth mentioning $50 thousand from Indorama provided for 10 Nigerians.
We hope that this article was useful. Did you apply for the program? Then look for your name in the official list on the TEF website. Good luck!
REAd ALSO: Tony Elumelu private jet