The Tony Elumelu Foundation (TEF) yesterday opened the second edition of the TEF Entrepreneurship Forum.
The Foundation described the forum as the largest gathering of African entrepreneurs.
According to a statement, the forum celebrates the 2016 cohort of Elumelu Entrepreneurs – selected from over 45,000 applicants in 54 African countries – and their completion of the programme’s innovative 12-week online training.
On completing the programme Elumelu Entrepreneurs become members of the largest entrepreneurial alumni network in Africa.
“The TEF Forum is the centrepiece of the TEF Entrepreneurship Programme, and through it, we are giving from the perspective of empowering the recipient, instead of making them dependent on us,” the founder of TEF, Mr. Tony O. Elumelu said.
“As a result, our entrepreneurs will change the face of Africa, creating a wave of dynamic African businesses, bringing wealth to their communities and countries, and driving economic growth across the whole continent.”
As part of the TEF Entrepreneurship Programme’s 10-year, $100 million commitment, participants are now eligible to receive up to $10,000 seed capital to implement their business plans. Elumelu Entrepreneurs represent sectors as diverse as agriculture and fashion. Thirty-six per cent of those chosen were women, a significant increase on the first year’s twenty-four per cent. Entrepreneurs range from 18 to 54 years old.