Tony Elumelu Receives Global Entrepreneurship Award

Tony Elumelu receives 2017 Dwight D. Eisenhower Global Entrepreneurship Award

Philanthropist and Chairman, UBA Tony Elumelu has been declared as the beneficiary of the 2017 Dwight D. Eisenhower Global Entrepreneurship Award.

He was regarded with the honor by the Business Council for International Understanding (BCIU), a non-benefit in the US dedicated to fashioning connections and advancing discourse amongst business and government groups over the world.

Peter Tichansky, President and CEO of BCIU, portrayed Elumelu as a visionary business person. He stated:

Mr. Elumelu’s bold approach and can-do mindset are exemplary characteristics of a visionary entrepreneur.

He embodies the idea that companies must take the lead in bringing business and society together. His advocacy is proving that businesses acting as businesses, not as charitable donors, are the most powerful force for addressing social challenges and economic development.

Elumelu, accepting the award, said:

I am honored to accept BCIU’s Dwight D. Eisenhower Global Entrepreneurship Award.

My fundamental belief is that entrepreneurs – women and men across Africa – will lead Africa’s development and transform our futures. The opportunity and challenge in Africa is scale – in our people, our resources and our horizons. And in my business and philanthropic journeys, I have always sought ways to help inspire a generation across our continent.

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The Tony Elumelu Foundation Entrepreneurship Programme is a decade-long entrepreneurship programme created by the Tony Elumelu Foundation. The purpose of the programme is to:

  • Identify 10,000 African startups and African entrepreneurs with ideas that have the potential to succeed
  • Grow the businesses through business skills training, mentoring, access to seed capital funding, information and membership in our Africa-wide alumni network
  • Create businesses that can generate at least 1,000,000 new jobs and contribute at least $10 billion in revenues across Africa over 10 years.

Applications for this edition opened earlier this year to businesses not more than 3 years old based in Africa, whose founders are above 18 years and are legal residents or citizens of an African country. The 2017 programme received 93,000 applications more than double the amount of the previous years.

The Tony Elumelu Foundation has released the list of selected 1,000 African entrepreneurs, creating the 3rd edition of the 10-year, $100 million Tony Elumelu Foundation Entrepreneurship Programme.

Over the next nine months, the 2017 Tony Elumelu Entrepreneurs will be trained and mentored and will use the skills acquired to develop a business plan. Following which, they will be eligible to receive up to $10,000 in seed capital.

Click here to see the full list of selected entrepreneurs of the TEEP 2017




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Tony Elumelu Entrepreneurship Programme (TEEP) 2017

Apply for the Entrepreneurship Programme with Tony Elumelu Entrepreneurship Programme (TEEP) 2017

The Tony Elumelu Foundation (TEF), is now accepting applications for the 2017 Tony Elumelu Entrepreneurship Programme (TEEP) ($100m Pan-African entrepreneurship initiative ) for for Young African Entrepreneurs with business ideas that can transform Africa.

Successful applicants will join the third cycle of the TEF Entrepreneurship Programme, TEF’s 10-year, $100 million commitment to train, mentor and fund 10,000 African entrepreneurs in every African country. Since inception in 2015, the Programme has assisted nearly 2,000 entrepreneurs and created hundreds of jobs across the continent.

  • Open: To startups and Entrepreneurs from all the 54 African Countries – For Africans based in Africans
  • Worth: $100M for 10,000 Startups/Entrepreneurs

Eligibility Requirements:
To be eligible:

  1. Business must be based in Africa
  2. Business must be for profit
  3. Business must be 0-3 years’ old
  4. Applicants must be at least 18 and a legal resident or citizen of an African country

The Programme provides critical tools for entrepreneurial success, including:

  • Training:12 weeks of intensive training on setting-up and managing businesses
  • Mentoring:A mentor will guide successful applicants in creating a robust business plan
  • Seed Capital:$5,000 in non-returnable seed capital and access to a $5,000 convertible loan

All entrepreneurs who successfully complete the 12-week Start-up Enterprise Toolkit (learning) programme, submit a business plan for review, as well as required documentation and a business bank account will qualify for the first stage non-refundable seed capital of $5,000.

Funding Options:
All start-ups who successfully complete the programme will be eligible for funding. There are two stages of funding available to start-ups:

  1. First stage seed capital funding of $5,000 – a non-returnable investment dispersed at the 12-week start-up enterprise toolkit (learning) programme, upon submission and review of a business plan. Please see Terms and Conditions for clarification.
  2. Second stage capital ‘investment’ of $5,000 – for qualifying startups that have progressed their business plans sufficiently. This is structured as a convertible loan.

Judging Criteria:
All applications will be judged on 5 core criteria, which are:

  1. Feasibility of the business idea.
  2. Market Opportunity: knowledge and understanding of the market, customers and competitors for their idea/business.
  3. Financial Understanding: understanding of the basic financial requirements of running a business, costs and revenues.
  4. Scalability: Demonstrates potential for replication and growth of their product or service to create jobs and wealth.
  5. Leadership Potential and Entrepreneurial Skills: Demonstrate leadership potential, capable of attracting people, customers and resources.

1,000 entrepreneurs will be selected based on the viability of their idea, including: market opportunity; financial understanding; scalability; and leadership and entrepreneurial skills demonstrated in the application.

How to Apply
Interested and qualified candidates Click Here to Apply