The Tony Elumelu Foundation has unveiled a total of 1,250 entrepreneurs across Africa who were successful in the recently concluded Tony Elumelu Entrepreneurship Programme Season 4 applications.
This year’s Tony Elumelu Entrepreneurship Programme is remarkably different from other years as we have additional 250 entrepreneurs winning the $5,000 business grant, bringing the total number of awardees to 1,250.
The additional 250 entrepreneurs were sponsored by partners of the Tony Elumelu Foundation. 200 of the additional 250 entrepreneurs were selected from the batched received from the International Committee for the Red Cross; 40 were sponsored by the United Nations Development Programme while the remaining 10 successful applicants were sponsored by IDORAMA.
The criterion for selecting the 40 applicants sponsored by the United Nations Development Programme was the 40 highest applications from the 12 UNDP African countries (Rwanda, Nigeria, Uganda, Congo DRC, Zambia, Ghana, Burkina Faso, Gambia, Liberia, Sudan and Chad) in the buffer category (i.e. stage two scores of 68%).
The 10 candidates sponsored by INDORAMA were the 10 highest-ranked Nigerian Agribusinesses in the buffer category (stage 2 scores of 68%)
The 200 successful applicants sponsored by the International Committee for the Red Cross (ICRC) are the 200 highest-ranked applications from the North-East and South-South geopolitical zones in the batch of 420 applications sent by ICRC.
A breakdown of the statistics of the successful applicants in Nigeria shows that Lagos state had the highest number of successful applicants with a total of 68 successful applicants representing 25.9% of the total successful candidates from Nigeria which stands at 263.
Abuja came second with 10.7% while Oyo State came third with 6.1%.
Of the total number of 263 successful candidates from Nigeria, 100 (38.02%) of them were female while 163 (61.98%) of them were male indicating an improvement in the performance of women in the programme for this year.
Further breakdown of the application for this year indicates that the proportion of female to male applications is higher than the average of 34% in eight of the twenty sectors represented in the selected businesses.
The sector with significant proportion of female applicants are:
- fashion (80%)
- Consulting (60%)
- FMCG (50%)
- Healthcare (47%)
In all, applications submitted were predominantly from the agriculture, education, ICT and Manufacturing sectors.
Fifty-four (54) African Countries were represented in the batch of 10,483, with Nigeria comprising 22% of applications.
Eastern and Western African regions with 42% and 39% of the applications respectively had the highest representation in the batch of entries.
In the final analysis, the fourth season of the annual Tony Elumelu Entrepreneurship Programme was highly successful, thanks to the founder, Tony O. Elumelu CON, the father of Africapitalism and Accenture who constituted the assessment panel that did such a thorough job.
In the coming weeks, successful applicants will undergo a 12-week compulsory online entrepreneurship training programme which will be done through a world-class learning management system with the assistance of a team of mentors.
The online training programme will culminate in the 2018 Tony Elumelu Entrepreneurship Bootcamp in Lagos, after which all the 2018 Tony Elumelu Entrepreneurs will be paid their seed capital to start off or expand their businesses.
From Entrepreneurs’ Square, we wish to say a very big congratulations to all the successful candidates, and to the unsuccessful ones, better luck next time.
By the way, there is a partnership agreement entered into by the UNDP and the Tony Elumelu Foundation which is likely going to give hope to the unsuccessful candidates. Details about this arrangement will be communicated later.
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