The Tony Elumelu
Foundation (TEF) opened the 2nd TEF Entrepreneurship Forum –
the largest gathering of African entrepreneurs and the highlight of the annual
TEF Entrepreneurship Programme.
The Forum celebrates the 2016 cohort of Elumelu Entrepreneurs –
selected from over 45,000 applicants in 54 African countries – and their
completion of the Programme’s innovative 12-week online training. On completing
the programme Elumelu Entrepreneurs become members of the largest
entrepreneurial alumni network in Africa.
“The TEF Forum is the centrepiece of the TEF Entrepreneurship Programme,
and through it, we are giving from the perspective of empowering the recipient,
instead of making them dependent on us,” explained Tony O. Elumelu, CON.
“As a result, our entrepreneurs will change the face of Africa,
creating a wave of dynamic African businesses, bringing wealth to their
communities and countries, and driving economic growth across the whole
continent.”
As part of the TEF Entrepreneurship Programme's 10-year, $100
million commitment, participants are now eligible to receive up to $10,000 seed
capital to implement their business plans. Elumelu Entrepreneurs represent
sectors as diverse as agriculture and fashion. Thirty-six per cent of those
chosen were women, a significant increase on the first year’s twenty-four per
cent. Entrepreneurs range from 18 to 54 years old.
TEF CEO Parminder
Vir OBE said: “We are proud to have established a
unique platform for African entrepreneurs to forge relationships and business
partnerships. In doing so, we are creating an ecosystem that fosters innovation
and collaboration, on a scale few believed possible.”
The Forum allows
entrepreneurs to share and gain knowledge, build cross border partnerships, and
connect with investors and policymakers. The first day features plenary panels,
masterclasses, TED-style talks and sector specific networking
opportunities. The second day is a policy-led gathering, focused on
improving the enabling environment.
The Foundation’s
long-term investment in empowering African entrepreneurs is emblematic of Tony
Elumelu’s philosophy of Africapitalism, which positions Africa’s private
sector, and most importantly entrepreneurs, as the catalyst for the social and
economic development of the continent.
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