Tony Elumelu Foundation Entrepreneurship Programme 2023 will give you $5,000 to Start your Business idea.

The Tony Elumelu Foundation Entrepreneurship Programme 2023 is open to African entrepreneurs with workable business ideas or businesses that have been running for no more than five years. Apply now to get the help your business needs to grow.

Tony Elumelu Foundation Entrepreneurship Program

The Tony Elumelu Foundation Entrepreneurship Program is happy to accept applications for the cycle that will start in 2023. This program is meant to help African entrepreneurs by giving them training, a mentor, chances to network, and a US$5,000 start-up cash.

The Tony Elumelu Foundation (TEF) is a private-sector-led charity that was started in 2010 to support businesspeople and business owners across Africa. The foundation’s long-term investment in giving African entrepreneurs more power is a good example of Tony Elumelu’s “Africapitalism” theory, which sees Africa’s private sector, and entrepreneurs in particular, as the key to the continent’s social and economic growth.

The Tony Elumelu Foundation Entrepreneurship Program is built on seven pillars that are made to meet the most important needs of African companies and help them succeed. These pillars include mentoring, a 12-week business management course, knowledge tools on, meetups, an annual TEF Entrepreneurship Forum, seed capital funding, and a TEF Entrepreneurship Programme Alumni Network. With these factors in place, the Tony Elumelu Foundation Entrepreneurship Program gives African entrepreneurs the help and tools they need to grow their businesses and reach their goals.

The application process is free and done online through the TEFConnect digital networking hub. Applicants go through a rigorous multi-stage selection process, including video pitches, interviews, and final selection by an independent committee of judges. Those selected for the Program receive business management training, access to mentors, and $5,000 in seed funding.

The Tony Elumelu Foundation Entrepreneurship Program is transforming lives and economies across Africa. By identifying and supporting young African entrepreneurs, the Program aims to create a ripple effect that leads to rapid economic growth and job creation across the continent.

Who Qualifies for Tony Elumelu Foundation Entrepreneurship Program?

The Tony Elumelu Foundation Entrepreneurship Program is open to Africans from all 54 African countries who have workable business ideas or businesses that have been running for no more than five years. Those who want to apply must be at least 18 years old. is where people who want to apply can sign up. The program is not open to study institutions, religious groups, trading companies that add value, companies that do work for the government, or businesses that are not in Africa. Businesses can’t hurt people, the earth, or their own property. All businesses must be either business ideas or young businesses between 0 and 5 years old.

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Highlights of the Tony Elumelu Foundation Entrepreneurship Program 2023

The Tony Elumelu Foundation Entrepreneurship Program 2023 (TEF 2023) represents an opportunity for young African entrepreneurs to receive training, mentorship and funding to launch and scale their business ideas.

Access to capital

TEEP 2023 provides selected entrepreneurs with seed capital of $5,000 each, amounting to $20 million in funding for 4,000 entrepreneurs. This seed capital can be used to procure essential items to operationalize their business ideas, gain validation in the market, and achieve product-market fit.

World-class business training

Entrepreneurs selected for TEEP 2023 will have access to a 12-week intensive online business training program focused on core business management skills such as business planning, marketing, accounting, and people management. The training curriculum was designed by the Enterprise Development Center of the Lagos Business School and prepares entrepreneurs to optimize the seed capital received.


TEEP 2023 entrepreneurs will be matched with high-level mentors and business advisers for a 12-month mentoring program. Mentors provide guidance, feedback and advice to help entrepreneurs navigate challenges, refine their business models and strategies, and scale their businesses. Mentors are selected from a network of seasoned entrepreneurs, executives and business leaders.

Additional opportunities

TEEP 2023 entrepreneurs have opportunities to access further funding, training, mentorship, and networking opportunities to support the growth of their businesses. Some of these opportunities include access to TEF’s partners, the TEF Entrepreneurship Forum pitching competition, and the TEF CEO’s Enterprise Challenge.

Tony Elumelu Foundation Entrepreneurship Program Benefits

The Tony Elumelu Foundation (TEF) Entrepreneurship Programme has a lot of advantages.

The following will be available to entrepreneurs who are chosen:

  • US$5,000 to get started
  • Training and guidance
  • Opportunities to connect with more than 1 million African business owners
  • There are hundreds of things to learn about finance, marketing, branding, talent management, technology, and many other things.
  • The Marketplace gives our alumni access to the African market and gives them a chance to show off their business goods and services to get more attention.
  • View and apply for business possibilities around the world that our network of Partners has made available.
  • Look at and use business tools to help you run your business better.

How to Apply for Tony Elumelu Foundation Entrepreneurship Program Funding

To apply for the program, interested and eligible candidates should register or log in to TEFConnect, click on the Applications link on the Home Page, choose the Program, and follow the steps. Every year, on January 1, the application portal starts, and it’s free to apply.


  • No date is given for when applications must be turned in.
  • The Tony Elumelu Foundation has nothing to do with any agent who wants to apply for its business program, and it condemns anyone who does. If you know of someone who wants money in return for helping with an application, please send an email to to let us know.
  • The TEF Entrepreneurship Programme is not open to current workers or their family members from the Tony Elumelu Foundation and affiliated companies in the Heirs Holdings Group and UBA Group, either on their own or as part of a team.
  • After getting seed cash from the program, TEF Beneficiaries can’t apply again. If you are not a TEF recipient and have tried to join the program in the past but were turned down, you can try again.

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As you can see, the Tony Elumelu Foundation Entrepreneurship Program offers an incredible opportunity to grow your business and impact the African economy. By providing funding, mentoring, and training, the program helps ambitious entrepreneurs achieve their dreams and make a difference. The application window is now open, so take the time to carefully develop your business plan and apply. You have nothing to lose but so much to gain. Who knows, you could be selected as one of the 1,000 entrepreneurs to receive $5,000 in seed funding, mentoring, and training to launch or scale your business. The future of Africa depends on entrepreneurs like you, so take the first step and apply today. This could be the opportunity of a lifetime.

Originally posted 2023-09-30 13:12:41.

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