Submission of applications for the 5th cycle of the Tony Elumelu Foundation Entrepreneurship Program ends in 3 days.
If you’re yet to submit your TEF Grant application, please ensure you do that before the deadline of March 1, 2019.
Are you having difficulty with the financial part of the questions especially the Break Even Point calculation? Read this post on how to determine the Break Even Point
Remember that submitting a video pitch along with your application is only optional and not compulsory. This means that not submitting it would not stop you from being selected.
So, if you’re yet to submit your application because you’re trying to get the very best of video pitches, please have a rethink.
Remember that if your application is not submitted by 23:59hrs on March 1, 2019 West African Time, your idea won’t be considered for the grant.
Are you still in need guidance in preparing your Tony Elumelu Foundation Entrepreneurship Program application? Please read these guidelines as published by the Tony Elumelu Foundation.
Before Submitting Your Application for Tony Elumelu Foundation Entrepreneurship Program
Here are a few things to keep in mind as you tidy up your application.
First, Tony Elumelu is looking for a business idea that can transform Africa.
Therefore, ensure that your idea is not only outstanding and transformative, but also scalable across Africa.
Second, your business must be feasible. Tony Elumelu Foundation will never fund a business that is not feasible.
Make sure you do enough research to ascertain that your business idea is feasible within the environment you intend to execute it.
Third, your business must be profitable and sustainable. Tony Elumelu is looking for businesses that can sustainably transform the continent.
Your business must not only make money in order to sustain itself, but, must be profitable in order to scale.
Fourth, your business must have the potential to create employment opportunities. Tony Elumelu Foundation seeks to empower 10,000 African entrepreneurs who will in turn create millions of jobs over the next 10 years.
Therefore, the grant will only be awarded to businesses that can allow the Foundation deliver on this goal. Therefore, ensure that your business is likely to create employment.
Finally, your business idea must not fall into any of these: gambling, narcotics, arms sales and other antisocial engagements.
Good luck as you apply for the Tony Elumelu Foundation Entrepreneurship Program today.
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