It’s known that the Tony Elumelu Foundation entrepreneurship programme is competitive with the number of entrepreneurship startup applications far outnumbering the number of applicants to be selected every year. The foundation can afford to be super picky during the selection process but there are few things you can do to increase your selection chances for Tony Elumelu Foundation Entrepreneurship Programme.
While about applying for the Tony Elumelu Foundation (TEF) Entrepreneurship Programme, we have outlined nine ways to improve your chances of selection for the entrepreneurship programme. Knowing well the programme is competitive and there will be selection of 1,000 entrepreneurs from 54 countries in Africa. This preparation tips and strategies is what you need to improve your chances and be a selected.
Ways to Improve Chances of Selection For Tony ELumelu Entrepreneurship Programme
1. Create Startup Ideas/Possess a Business Plan
The foundation does not just accept applicants but those entrepreneurs with startup ideas and business not older than 3 years and based in Africa. A good startup ideas with proper feasibility and cost is among the criteria applicants are judged
Your businesss plan need to be well outline if you need to stand out. this is one way to improve your chances of selection for tony elumelu entrepreneurship program.
There are samples of business plan you can find online if you can’t write a plan. These template will serve as guide on how to start, costing and other details that you need to provide. Avoid copying a plan from online.
If the ideas are not coming forth make draftsor check a sample plan until you have what to write.
Majorly startups base their ideas/plans on any of these business
- Education and Training
- Professional Services
2. Develop a Business Plan For Your Business
If you want to be selected this is one tool required to access the grants. A well developed business plan that is already written can be submit while applying for the entrepreneurship programme as startups. This way you can improve your selection chances for the Tony Elumelu Entrepreneurship programme.
The foundation selection judges can tell when you do have an achievable plan than one copied and editted because they have seen several business plans across their table.
3. Let Your Story Be Known
What should be know about you and why did you choose the business? your story tells if your idea is original or a copied idea. You don’t need to pretend.
The emotion behind your story for starting or about starting your business can help you stand out from other competitors.
4. Clearly Describe Your Idea Or Business Plan
Clearly provide detail of your business plan or idea such that every aspect of the business or idea (i.e. description, market, customer acquisition, financials etc.) is fully covered. A way to go in doing it, is to fill all required information with the needed and best answers and submit all need documentation.
A long theme plan that will stand out in ten years and above is what you need to focus on if you seek to win Tony Elumelu grant.
Fill and answer correctly all the question asked and describe with enough details about your ideas and plans.
5. Document Your Business Ideas
Do take records, pictures of your business. products. Get your business registered with C0rporate Affairs Commission (CAC) The name of your business submitted should be the name provided in your application.
6. Join Groups of Entrepreneurship Startup
Find and join groups with mentorship for the Tony Elumelu Entrepreneurship Programme. There are startup groups with mentorship class to guide you. They prepare and equip you with ideas, details and full training you may need to before applyig for the programme also what it takes to become successful. This way may boost your chances of
7. Connect To Winners of Tony Entrepreneurship
You don’t need to panic or get worried, one way to increase chances is to connect with winners of tony elumelu entrepreneurship.
Connecting with winners of has a great effect, as you may need to know from them how their ideas and how their plan was detailed to guide you on how to prepare your plans as a startup before submitting to the foundation
The way to connect with winners are through social medias-facebook, twitter, linkedIn. But if you have any winner around you.
Meet 2019 Winners of Tony Elumelu Foundation (TEF) Entrepreneurship Programme
- Fethi Bouzourine , Manufacturing
- Kofi Oghenerukevwe Henrietta, ICT
- Remita Nora Otieno, Professional Services
- Hattou Mohamed Hakim, ICT
- Celestin Ulrich Loumingou, Education And Training
- Abdulai Odunayo Hiqmat, Healthcare
- Kolade Ogunola Vincent, Agriculture (Agri-Business, Farming)
9. Apply for the Entrpreneurship Programme
You may be applying for the first time or have applied before and wasn’t selected. If you have created a recent business idea that can strive all you need do is to apply for 2020 Tony Elumelu Entrepreneurship programme again this can increase your chances of thr programme selection.
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