1,000 African entrepreneurs have been selected to take part in the Tony Elumelu Entrepreneurship Programme (TEEP), which will see them receive training and mentorship as they become eligible for up to US$10,000 in seed capital.
The 1,000 entrepreneurs – the bulk of which are Nigerian but also includes strong representation from countries like Kenya, Uganda, Ghana, Tanzania, Cameroon and South Africa – were chosen from 93,000 applicants from 55 African countries.
This was more than double the number of applications received in 2016 and four times the number received in 2015. The full list of selected entrepreneurs can be viewed here.
Over the next nine months, the 2017 Tony Elumelu entrepreneurs will be trained and mentored, using the skills acquired to develop a business plan. After this they will become eligible to receive up to US$10,000 in seed capital to develop their business concepts.
“Standing here today to announce the successful applicants is bittersweet. There are 92,000 aspiring entrepreneurs who have been unsuccessful. These young African men and women have demonstrated passion, innovation and creativity in their applications and we should not relent until we help them all realise their aspirations. I call on other well-endowed Africans and friends of Africa, to support us to do more,” said Tony Elumelu.