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From the 45 000 odd entrepreneurs that applied for the second round of the Tony Elumelu Entrepreneurship Programme (TEEP), a list of the selected 1000 entrepreneurs has been released by the Tony Elumelu Foundation (TEF).
The highest numbers of applicants came from Nigeria, Kenya, Ghana, Uganda, and Cameroon, with representation from all five of Africa’s regions.
Organisers said applications were received from applicants in 54 African countries and the number of entries this year were more than twice the number that applied for the maiden edition in 2015.
TEEP is currently Africa’s largest philanthropic initiative devoted to entrepreneurship and represents a 10-year, $100 million commitment, to identify and empower 10 000 African entrepreneurs, and create a million jobs and add US$10-billion in revenues to Africa’s economy.
Selected candidates represent diverse industries, led by agriculture, ICT and fashion.
Founder of the foundation, Tony O. Elumelu, said: “In TEEP’s first year we spent over US$8-million of our US$100 million commitment – with US$5-million going directly to entrepreneurs as seed capital — and the results have far exceeded our expectations. We have funded entrepreneurs, established networks and helped extraordinary people take control of their destinies.”
“The 2016 Tony Elumelu Entrepreneurs will become a generation of newly empowered African business owners, who are the clearest evidence yet, that indigenous business growth will drive Africa’s economic and social transformation,” said Elumelu.
Over the next nine months, the 2016 cohort will receive the intensive online training, networking and mentoring that provide a tool kit for success and sustainability. They will also participate in the three-day Elumelu Entrepreneurship Forum later in the year, the largest annual gathering of African entrepreneurial talent.
“We saw phenomenal success with the first cycle of TEEP – the success stories of the TEEP 2015 alumni are a testament to the transformative power of the programme we have built. Through TEEP, we are proving to the next generation of entrepreneurs that their ideas can change their communities, their countries and their continent,” said CEO of The Tony Elumelu Foundation, Parminder Vir OBE.
A full list of those selected is available on the TEEP website.