The Tony Elumelu Entrepreneurship Programme 2018 which is the fourth edition of the annual entrepreneurship programme of the Tony Elumelu Foundation has opened its application portal.
As always, the programe which is for all African entrepreneurs and prospective entrepreneurs within Africa and in the Diaspora awards business grants to the tune of $5,000 for each of the successful applicants shortlisted for the awards.
For the avoidance of doubt, a business grant is a funding assistance provided for business enterprises which the benefiting enterprises are not obliged to pay back. This makes it different from a loan. Loans come with a payback obligation while grants don’t.
Like in previous editions, the Tony Elumelu Entrepreneurship Programme 2018 will award 1000 successful applicants all across the 53 countries of Africa with not just $5,000 in business grants, but also with mentoring and business development opportunities.
Tony Elumelu Entrepreneurship Programme 2018: What it involves
The Tony Elumelu Entrepreneurship Programme 2018 begins with the opening of the application portal. With this, all young entrepreneurs in Africa can submit applications detailing the business ideas or exiting businesses which they have and believe can transform Africa and drive the Africapitalism concept of the founder, Tony O. Elumelu CON.
The application which is in the form of questions which are available on the TEF Application dashboard which applicants are directed to once they either log into their accounts or create accounts on the TEF Application portal. Applicants are expected to answer these questions as accurately as possible as it relates to their businesses.
Though the portal is designed such that applicants can always save and continue later from where they left off, it is advised that applicants should copy out the questions onto a text editor such as MS Word. From there, they could answer the questions and once done, they could simply login to their dashboards, copy and paste the answers in the spaces provided.
This will eliminate every form of errors and data loss as well as typos. Also, it will ensure that candidates have a copy of the questions and answers provided for future reference as these questions and answers will no longer be accessible once the application is finally submitted.
All applicants have until March 1, 2018 to submit their applications. However, since assessment will be done on a rolling basis, that is, as it is received, it is advisable that applicants submit their applications as early as possible.
Please note that the application portal will not be accessible after the application deadline of March 1, 2018.
How to ensure that your business makes the Tony Elumelu Entrepreneurship Programme 2018 shortlist
To increase your chances of being shortlisted, please do the following:
Ensure that your business idea is disruptively innovative. That is, let your idea have something that is different from what is currently available in the marketplace. This will definitely draw the attention of the judges to your business.
Ensure that the information you provide about your business is as accurate as possible. Please don’t try to impress the assessors by putting down exaggerated figures. They will definitely find out because they themselves are entrepreneurs and business experts.
Stick to the questions and avoid storytelling. Endeavour to go straight to the point in answering the questions. Avoid distracting preambles. You must understand that these assessors have tens of thousands of applications to go through and therefore don’t have time to read stories.
Review your application before submission. Just before you finally submit your application, ensure that you go through it once again in order to not only correct any grammatical or typographical errors, but also convince yourself that your presentation is to the best of your knowledge as accurate as possible.
Work with a TEEP alumnus if possible. You will definitely find the assistance of a TEEP alumnus very worthwhile if you can find one. Therefore, if you know of any TEEP alumnus, that is, anyone who has won the Tony Elumelu Entrepreneurship Programme award in the past, get them to look through your application. Remember that in the multitude of counsel, there is wisdom.
Finally, ensure that you conduct a thorough research about your business before submitting your application. To make a good and convincing presentation, a good research and thorough understanding of your business is necessary. Therefore, ensure that you give adequate time for this.
Note that, while submitting early is advised, you don’t have to rush over your application. Remember, the programme is quite a competitive one. Only the best can win.
Are you ready to apply for the Tony Elumelu Entrepreneurship Programme 2018? Then, read a step-by-step guide here.
Please note that application for the Tony Elumelu Entrepreneurship Programme is totally without a charge. Anyone parading themselves as an agent of the Tony Elumelu Foundation and promising you a spot in the final shortlist is a fraudster and is not in any way connected with the Foundation, hence should be disregarded. Doing any business with them is strictly at your own risk.
As always, if you have any challenges creating an account, logging into your account or applying for the TEF programme, please post it on the forum within your dashboard or send an email to firstname.lastname@example.org or email email@example.com or send a WhatsApp message to +2348163052034 and you’re sure to get quick assistance.
Good luck as you Apply!
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