The Tony Elumelu welcomes applications from interested and qualified young, Nigerian entrepreneurs for participation in the TEFConnect 2022.
Following the Covid-19 economic upheaval, this year’s intervention focuses on the economic recovery of small and medium-sized firms (SMEs) and young African entrepreneurs.
About TEFConnect 2022
The Tony Elumelu Foundation (TEF), Africa’s foremost foundation dedicated to helping African entrepreneurs, is on the lookout for the most creative business ideas from across the continent.
The Foundation’s Entrepreneurship Programme will empower 1,000 young African entrepreneurs from the 2021 cohort to address the pandemic’s unique challenges, lift millions out of poverty, and create sustainable employment across the continent. The Foundation will also open applications to an additional 2,400 young entrepreneurs in 2022, in collaboration with global partners.
Through the Tefconnect 2022, the Tony Elumelu Foundation 2022, which marked eleven years of impact in 2021, is enabling a new generation of African entrepreneurs. Successful candidates will get world-class business training, coaching, and non-refundable startup cash of up to $5,000, as well as worldwide networking possibilities. The program is accessible to all African entrepreneurs, including fresh start-ups and established young firms, in any field.
To apply for Tefconnect 2022, you must be at least 18 years old.
If you have a company concept or a startup that is less than three years old in any sector and in any African country, you are eligible to apply.
You might be chosen to join our existing 9,038 beneficiaries from 54 African nations and earn the following benefits:
- Business Training
- $5,000 non-refundable seed capital
- Global Networking Opportunities
- Timetable for Tefconnect 2022
- January 1, 2022: Application portal opens
- March 31, 2022: Application portal closes; initial longlist is announced to proceed for business training
- April – May: Training & mentorship
- June: Pan-African pitching competitions
- July: Announcement of finalists at the TEF Forum
- August – September: Background Check
- August – December: Seed Funding Disbursement
- African entrepreneurs will receive business training after submitting their applications.
- Candidates that have been shortlisted will write and submit an updated business plan.
- Top-performing entrepreneurs will be nominated for a pitching round in English, French, Portuguese, or Arabic in all 54 African nations.
- The $5,000 seed funding will be awarded to the best performers.
- At the TEF Forum, the finalists for $5,000 seed cash will be disclosed.
What is the procedure for applying for Tefconnect 2022?
To apply for the Tony Elumelu Entrepreneurship Program (Tefconnect 2022):
Go to www.tefconnect.com and fill out the bilingual application form.
Fill out the form by clicking “Apply.”
What criteria will be used to evaluate tefconnect 2022 applicants?
- All submissions will be evaluated based on five main criteria:
- The company idea’s viability.
- Market Opportunity: For their idea/business, knowledge and awareness of the market, consumers, and competition.
- Understanding the fundamental financial requirements of running a firm, including expenditures and income.
- Scalability: Demonstrates the capacity of their product or service to be replicated and expanded in order to produce employment and riches.
- Demonstrate leadership potential and entrepreneurial skills, including the ability to attract people, clients, and resources.