The Tony Elumelu Entrepreneurship Programme (TEEP) has received over 5,000 applications since announcing its inaugural incubation programme, with the majority of applications arriving from Nigeria.
Disrupt Africa reported in December the Tony Elumelu Foundation launched a US$100 million entrepreneurship programme, aiming to create one million new jobs and 10,000 businesses spanning the African continent.
Applications for the programme opened on January 1, 2015, and will remain open until March 1.
Only three weeks into the application period, TEEP told Disrupt Africa the organisation has already received over 5,000 applications from African entrepreneurs.
60 per cent of applications have come from Nigeria, with TEEP saying it hopes more entrepreneurs from North, East and Southern Africa will also apply to the programme.
Given that only 25 per cent of applications submitted to date are from female applicants, TEEP also encourages female entrepreneurs to put themselves forward.
“We are very pleased with the response so far. Over 5,000 applications in just three weeks is encouraging, especially given that we have been driving primarily through social media… we expect this figure to triple by close of applications on March 1,” TEEP told Disrupt Africa.
“We would like to engage the East, South, North African regions and Francophone countries more, and also mobilise more women to apply,” the organisation said.
The programme is open to entrepreneurs across Africa, who are looking to contribute to Africa’s development and transform the continent.
TEEP said to date the agriculture sector currently leads applications with 16 per cent of applications pertain to the this area, followed by education and training, and ICT.
1,000 entrepreneurs will be selected to participate in the programme, and will receive seed capital funding, a 12 week business skills course, mentorship, an entrepreneurship bootcamp, participation in the Elumelu Entrepreneurship Forum, among other benefits.