The Tony Elumelu
Foundation (TEF) announces the selection of 1,000 entrepreneurs for the 2nd
round of the Tony Elumelu Entrepreneurship Programme (TEEP).
Launched in 2015, TEEP
is the largest African philanthropic initiative devoted to entrepreneurship and
represents a 10-year, $100 million commitment, to identify and empower 10,000
African entrepreneurs, create a million jobs and add $10 billion in revenues to
Africa’s economy.
Over 45,000
entrepreneurs from 54 African countries applied, more than doubling the number
of applications received in 2015. Successful candidates represent diverse
industries, led by agriculture, ICT and fashion. The highest numbers of
applicants came from Nigeria, Kenya, Ghana, Uganda and Cameroon. All five
regions – North, East, Southern, Central and West Africa are represented.
Founder, Tony O.
Elumelu, CON, commented: “In TEEP’s first year we spent over $8 million of our
$100 million commitment – with $5 million going directly to entrepreneurs as
seed capital — and the results have far exceeded our expectations. We have
funded entrepreneurs, established networks and helped extraordinary people take
control of their destinies. The 2016 Tony Elumelu Entrepreneurs will become a
generation of newly empowered African business owners, who are the clearest
evidence yet, that indigenous business growth will drive Africa’s economic and
social transformation.”
Over the next nine
months, the 2016 cohort will receive the intensive online training, networking
and mentoring, that provide a tool kit for success and
sustainability. They will also participate in the three-day Elumelu
Entrepreneurship Forum later in the year, the largest annual gathering of
African entrepreneurial talent.
Parminder Vir OBE, CEO
of The Tony Elumelu Foundation, said: “We saw phenomenal success with the first
cycle of TEEP – the success stories of the TEEP 2015 alumni are a testament to
the transformative power of the programme we have built. Through TEEP, we are
proving to the next generation of entrepreneurs that their ideas can change
their communities, their countries and their continent.”
For
a full list of the selected Tony Elumelu Entrepreneurs for TEEP 2016, please
visit www.tonyelumelufoundation.org/teep
We wish all passengers safe and enjoyable Easter celebrations.
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