The Tony Elumelu Foundation is a non-profit organization based in Lagos, Nigeria, that strives to enhance the well-being of Africans and improve their quality of life. Established in 2010 by Tony O. Elumelu, the foundation operates under the principle that entrepreneurs can significantly contribute to Africa's social development and economic prosperity.
Unlike traditional philanthropic organizations that offer grants, the Tony Elumelu Foundation has charted a new path in African philanthropy. They focus on providing intensive and practical support to entrepreneurs to help them achieve success through a seven-pillar model.
The foundation firmly believes that their seven-pillar approach is a more effective and holistic way of supporting entrepreneurs in Africa. By offering comprehensive support to entrepreneurs, the foundation aims to promote economic growth and help build a sustainable future for Africa.
Understanding Tony Elumelu Foundation
The primary objective of the Tony Elumelu Foundation is to foster outstanding entrepreneurship and business leadership in Africa. Founded by businessman Tony Elumelu, the organization aims to promote Africapitalism, serving as a catalyst for driving economic development in the continent.
The foundation is committed to bringing about a complete economic transformation in Africa, with a focus on promoting entrepreneurship, competitiveness, and growth in the business sector. By supporting and empowering entrepreneurs, the Tony Elumelu Foundation seeks to create a more prosperous and sustainable future for the African continent.
How Much is the Grant?
The Tony Elumelu Foundation offers an entrepreneurship program that aims to empower entrepreneurs and promote a thriving African economy. The program is open to startup entrepreneurs who have been in business for at least three years in any sector across the African continent.
With a 100 million dollar commitment, the program is designed to support 10,000 entrepreneurs over the next decade, generating millions of jobs and increasing revenue for Africa. The Tony Elumelu Foundation firmly believes that supporting entrepreneurs is crucial to the sustainable development of Africa's economy, and the program is a critical part of their efforts to achieve this goal.
Who is Eligible?
The entrepreneurship program is available to all Africans aged 18 and above who own businesses within Africa. To be eligible for the program, applicants must be legal adults in their country of residence and have the necessary permits to work in the country where their business operates.
The program is open to all sectors and industries, and the foundation encourages entrepreneurs from diverse backgrounds and industries to apply.
How to Apply
To apply for the entrepreneurship program, all applicants must use the online application portal. The application includes a set of questions that require responses, as well as the submission of relevant documents and forms of identification.
Once an applicant submits their application, they will receive an email confirming receipt and informing them that their application has been successfully submitted. It is essential to note that there are no offline submission modes, and all applications must be submitted through the online portal.
Selection of the applicants will begin immediately after the application deadline, and the foundation will evaluate applications based on several criteria.
Conclusion
The entrepreneurship program offered by the Tony Elumelu Foundation presents a tremendous opportunity for African businesses to prosper and flourish. With grants available to 10,000 African businesses over the next decade, the program is designed to drive revenue growth and create new job opportunities across the continent.
For entrepreneurs looking to build successful businesses, this program represents an invaluable opportunity to access funding, support, and mentorship. By empowering African entrepreneurs to develop and scale their businesses, the foundation aims to drive sustainable economic growth across the continent, benefitting both entrepreneurs and the wider African community.
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