Have you or your colleagues applied for this legitimate funding opportunity? 

For 7 yrs now TEF has provided funding to over 15,000 African Entrepreneurs, And 750+ Ugandans have received it. You too can get it! If the foundation’s goals below represents a story/vision you would like to be part of, then, congratulations! This represents the first step of qualifying;

  1. Support ten thousand (10,000) startups and young entrepreneurs
  2. Contribute over $10 billion on the continent through these entrepreneurs enterprises
  3. Create one million (1,000,000) jobs

In Mr. Tony Elumelu own words, “Africa is the land of opportunities, and there is no better time to become an entrepreneur in Africa. Government has set the right environment but private sector must take lead and take charge. Having been an entrepreneur myself, I said, let me help to create more” That the driving force of the TEF through TEF I am commuting $100 Million Dollars to support the United Nations of African Entrepreneurs.”

“The program represents a commitment to support 10,000 entrepreneurs and startups. The program is open to all 54 countries and we are not targeting any sector. The goal is to generate 1,000,000 JOBS and contribute $10 BILLION DOLLARS to revenues across Africa through these businesses. WHAT WE WANT TO DO IS TO DEMOCRATISE LUCK” says Mr. Tony Elumelu

For you to be at a greater competitive edge of succeeding through this opportunity you need to at least try putting together the business concept, the business concept note and the business proposal especially if you are still an idea stage or even if you are already running your business but have never compiled these business documents. This will help you to reflect the right business idea in your application instead of gambling. Let me

  1. Business Concept

  • Ideas can come from anywhere: A concept note can also be classified as an idea. Did you know a human being conceives over 6000 thoughts every day?  These thoughts, Out of these thoughts is where occasionally ideas come. Thoughts and ideas can come randomly. Whether you are moving, transit, sleeping, on conversations, etc.
    • Creative, innovative: Business ideas that standout must be characterized by improvement onto the existing products, services, systems or processes. How unique or different is your idea from the existing solutions is what defines the creativeness and innovativeness of the idea
    • Visualize it on the canvas. When we put our thoughts on paper, it means we have started putting together building blocks together. Thus building started.

    2. Business Concept Note

  • Background: The background of everything provides you with great insights to guide decision making. Therefore, knowing the environment in which your business is going to be established is very important. It helps you know if your idea is viable and feasible for the intended market. You can assess the existing competition, operational modalities, like national policies, social aspects etc. You may use PEST and SWOT analyses.
    • Introduction: The introduction is merely the description of your idea. What, How, when, where, and with who you intend to build. 
    • Vision, Mission, Goals, Objectives, Tasks, and Results: This is the part that demonstrates what you stand for, how to achieve it and what the future will look like after you’ve delivered your services.
    • Call to action: A concept note has two major importance a few of which are; for internal and external communications both of which are seeking buy-ins. The examples of buy-ins could be business partners, customers, employees, collaborators and other stakeholders. Clearly emphasize what you want from who your Concept note is targeting.

    3. The Business Proposal

    • Research: Whereas research is a broad area, for this particular purpose, research should be rather around the identified call-for-proposals organization. Having a complete understanding of the requirements, procedures, terms of the call-for-proposals/target entity you wish to propose to is as important as succeeding. For example: This information you are getting before applying puts you on a better competitive edge as opposed to those that didn’t take the time to do preliminary research on this particular funding opportunity
    • Structural Planning: Structural planning is simply preparing yourself to present the proposal the way you found that target entities expected it. A case in point is for the Tony Elumelu Foundation, it’s simply an online application, and it is their way of receiving proposals. But having standard yet organized documents helps you to make very appropriate submissions. Whether you get a call-for-proposals that may just need you to customize or complete different structure, it still always makes your work easy.
    • Writing: Writing is the most important part of when it comes to proposals because a proposal that isn’t written is only understood by the idea/project beholder. So writing your proposal is must and below is the simple process.
    1. (I). Introduction: Have a good introduction for your proposal. Since your concept note already has it, it’s a matter of a few tweaks of improvements but in summary.
    1. (II) Problem & Solution: Every great idea is built on a challenge or situation that is either unpleasant or limiting or frustrating which we call a problem. Then your idea (which we call solution) should be able to address the challenge so that the affected persons/community feels released.
    1. (III) Budget: As earlier said, knowing well the terms of reference (TORs) especially the finance expectations is very important. It helps you submit a budget as they need it. For example, if Tony Elumelu Foundation says, we need to only send a budget of only $5000, then do exactly that and if they want to contribute part, then know how much then your budget should be totaling to.
    1. (IV) Review: At the end of it all, sharing your proposal to a trusted yet subject matter knowledgeable person for review is so important. So if you can, please find them, if you cannot still, getting someone to do look through for grammatical and general feedback is also an awesome decision.

    4. Business Plan (Not needed at this stage but just for you to know)

  • How you create value:  Which is simply process of developing what you offer or service/solution development. 
    • How you communicate value: This is simply what the concept note does. Making sure that the respective stakeholders get to know what the business in their respective capacity. 
    • How you sell the value: This is all about marketing and sales. The different channels through which you shall use to create/build awareness or even sell your product or services to the customer.
    • How you deliver value: This is simply on managing logistics. Do you use door-to-door approach, digital market places, third party supplies, online marketing, office/workshop walk-ins, franchises, etc.?
    • How you capture value: The businesses that do not seek for customer reviews and feedback might not develop an efficient product/service for its customers. So is important to build a strategy of getting feedback to support you develop a market fit product.

    Suffice to say, this fund is for committed people especially those who believe that their ideas are due. That kind of hunger is what is indeed worth supporting

    Therefore, the dos and don’ts surely provide better opportunity and knowledge to become the rightful entrepreneur that the foundation looks out for. Here in a presentation capture are some of the good practices I want to emphasize to you prior to your application

    When the programme began, it set out with seven pillars which are;

    1. Startup Enterprise tool kit
    2. Mentoring
    3. Online Resources 
    4. Bootcamp
    5. TEF Entrepreneurship Forum 
    6. Seed capital Funding
    7. Alumni network 

    The 2021 TEF Program took a different format from previous where Technology was a great tool the leveraged upon “where at least 80% of the program was automated” said Titi Akinola, the Chief of Operations of the programme.

    We build in business logic and algorithm to help in short listing exercise. The program has 5 stages with each stage assessing the entrepreneurship mindset, business knowledge and resilience; the stages are;

    1. Application (with Psychometric and cognitive assessment)
    2. Training (12 week business management training and coaching phase) This training was divided into four(4) parts, 
      • Six (6) weeks of pure business training with weekly quiz assessment
      • Webinar session on business plan and financial plan development, 
      • The TOE WAY webinar series expounding on character building and core business values of the founder
      • Webinar sessions that covered the craft of delivering a compelling elevator pitch to potential investors.
    3. Pitching where entrepreneurs are expected to submit a business summary and thereafter the selected to send a 2-4 Minute Business video which are assessed and scored by a carefully sourced team of judges.
    4. Then the final selected entrepreneurs receive the seed capital.
    5. To ensure the integrity of our entrepreneurship program, we engaged the services of a third party experts to test our systems and people and from the systems side, we conduct Load, stress, performance, vulnerability and penetration tests.

    The 2021 TEF Entrepreneurship programme Received over 406,000 applicants, 206,000 were shortlisted for the 12 weeks training and 4,949 entrepreneurs were selected each of whom was given non-returnable seed capital of $5000 USD.

    A few more highlights in the 2021 selection are; 68.07% were female and 31.93 male, the stage of businesses were in three; 74.44% (3684)  selected were at idea stage, 24.21% (1198) at infancy stage and 1.35% (67) at growth stage.  

    And whereas the foundation considers all economic sectors, the top 10 sectors in 2021’s in their order from highly considered were; agriculture, food and beverages, fashion, beauty and wellness, education and training, manufacturing, ICT, commercial retail, health care, waste management and others followed.

    I do believe that by now, you are convinced on your ability to apply or not. So, when you are ready to start on your application, follow this link www.tefconnect.net and start your application by first; creating your account by clicking signup button or the apply now button and then proceed to finishing your profile and looking for an applications menu in your dashboard to start making your application. Deadline for applications is March 31, 2022

    If you still need more guidance, I encourage you to watch the recording on youtube via this link bit.ly/TEF-application-guide or register for the information session scheduled for  Saturday March 26 at 11:00AM bit.ly/TEFconnect-net

    Please share opportunity to all friends, entrepreneurs & whatsapp groups. And if you still have questions, feel free to call or whatsapp us on +256702799754.