How to Apply for the Tony Elumelu Foundation $5000 Grant (2024)

Are you an aspiring entrepreneur looking for funding to grow your business? The Tony Elumelu Foundation (TEF) offers a unique opportunity to support African entrepreneurs through its annual $5000 grant.

This programme is designed to empower African business owners by providing seed capital, mentorship, and access to training.

In this guide, we will walk you through the application process for the TEF grant, ensuring you understand each step and what is required to increase your chances of success.

What is the Tony Elumelu Foundation Grant?

The Tony Elumelu Foundation Grant is an initiative aimed at supporting African entrepreneurs with viable business ideas or existing businesses. Since its launch, the programme has funded thousands of entrepreneurs across the continent, providing them with the capital and training needed to make their businesses thrive. The $5000 grant is non-refundable and serves as seed capital for selected businesses.

If you have a startup or an existing small business, this grant could be the boost you need. However, there are specific steps to follow and requirements to meet. Let’s dive into how you can apply.

Who Can Apply?

• The programme is open to all citizens and legal residents of any one of the 54 African countries. The proposed business must be registered and operate in Africa.
• Applicants must be 18 years old and must not be considered a minor in their country of residence. There is no upper-limit age restriction.
• All businesses must be business ideas or an early stage company, in the range of 0 to 5 years old.
• Your application must focus on ONE business only. We advise choosing your best, most feasible/innovative business idea. Selected entrepreneurs are not permitted to apply for future cohorts of the programme, even with a different business idea or name.
• Current employees or their family members from the Tony Elumelu Foundation and affiliate companies in the Heirs Holdings Group and UBA Group are not eligible to apply for the TEF Entrepreneurship Programme, either individually or as part of a team.

Who Cannot Apply?

• TEF Audit Partners and their Immediate Family Members.
• Employees of companies affiliated with the Tony Elumelu Foundation who have been involved in the creation or administration of the Programme and their Immediate Family Members.
• The Promoter’s consultants and agents (and employees and Immediate Family Members of such employees where the consultants and agents are entities) involved in the creation and administration of this programme.
• Research institutions, faith-based organisations, government agencies and businesses not located in Mali will not be eligible to apply for the programme.
• Applications by TEF Alumni or their Business Partner.
• Applications by persons disqualified under any previous TEF programme.
• Applications made using methods such as a macro, script, using automated devices or processors or other forms of digital tool to gain an unfair advantage.
• Incomplete and incorrect applications.
• Applications which contain illegal or unethical Businesses or Business Ideas.

Programme Application Process

Applying for the Tony Elumelu Foundation grant is a straightforward process, but attention to detail is key. Here is how you can go about it:

1. Visit the TEFConnect Platform
   All applications must be submitted online through the official TEFConnect platform at www.tefconnect.net. This is the only channel through which applications are accepted, so ensure you complete the application form on this platform.
2. Create an Account
   Once on the platform, you will need to create an account. Make sure to provide accurate and up-to-date information, as this will be used throughout the selection process. After registering, you will receive a confirmation email, which may also include further instructions.
3. Complete the Application Form
   The application form consists of a series of mandatory questions that you must answer thoroughly. These questions range from details about your business idea or existing business, your vision for its future, and how you plan to use the grant if selected. This is your chance to showcase your business plan, so be clear, concise, and convincing.
4. Upload the Required Documents
   You will need to upload identification and other relevant documents to support your application. Ensure these documents are clear and valid. Missing or inaccurate documents could lead to disqualification, so take the time to gather everything beforehand.
5. Submit Your Application
   After you have completed the form and uploaded the necessary documents, you can submit your application. Once submitted, you will receive a confirmation email acknowledging receipt of your application. Keep this email for your records, as it shows that your application has been successfully submitted.

Tips for a Successful Application

• Be Clear and Concise: Your business idea needs to stand out, so explain it in simple, clear terms. Avoid using overly technical language or jargon.
• Provide Accurate Information: Make sure all the information you provide is correct and up-to-date. Double-check everything before submitting your application.
• Prepare Ahead of Time: Gather all necessary documents and information before starting your application to avoid delays. This includes identification, a detailed business plan, and any other documents that may be required.
• Tell a Compelling Story: Use the opportunity to explain not just what your business is, but why it matters. What problem does it solve? How will it make an impact in your community or beyond? A well-told story can set you apart from other applicants.

Frequently Asked Questions

To make the process clearer, let us go over some common questions applicants may have:

1. What if my company is a partnership?
   If your business is a partnership, only one person can apply on behalf of the business. It is important to have consent from all partners before applying, and the person applying should either hold an equal share or a majority stake in the company.
2. Can I apply offline?
   No, all applications must be submitted online through the TEFConnect platform. There is no option for offline applications, so ensure you have access to the internet and the necessary tools to complete the application.
3. What if English is not my first language?
   If you are more comfortable in a language other than English, do not worry. The application form is also available in Arabic, French, and Portuguese, allowing more entrepreneurs across Africa to apply comfortably.
4. Are there any fees for applying?
   No, the Tony Elumelu Foundation does not charge any application or associated fees. Be cautious of anyone claiming otherwise, as there are no financial barriers to applying for the programme.

Conclusion

Applying for the Tony Elumelu Foundation $5000 grant could be the first step toward turning your business idea into a reality or scaling your existing venture. The process is clear, but it requires careful preparation and attention to detail. By following the steps outlined above, you can submit a strong application and increase your chances of being selected.