7 Pillars of Tony Elumelu Foundation Entrepreneurship Programme

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7 Pillars of Tony Elumelu Foundation Entrepreneurship Programme

- Tony Elumelu

Tony Elumelu Foundation Entrepreneurship Programme (TEEP) operates with the belief that entrepreneurship and business skills are teachable and learnable.

TEEP has devised a 12-week programme to equip start-ups with the basic skills required to launch and run their businesses at the early stage of their growth. The programme brings together tools and frameworks to teach and hone entrepreneurship skills.

The programme is a mix of online and face-to- face instruction, including webinars and video tutorials with support from mentors. It covers topics on starting and scaling a business, business development, marketing strategy, effective management and product design.

1. MENTORING

Mentoring is a vital part of the Tony Elumelu Foundation Entrepreneurship Programme (TEEP). Mentors are selected for their expertise, passion and alignment to the programme vision and mission. TEEP assembles world class mentors from across Africa and internationally who have faced similar challenges and can steer TEEP start-ups along this tumultuous path.
From the onset, TEEP start- ups are assigned TEEP mentors who dedicate time and share their business experiences, listen to their mentee's goals and expectations, while providing guidance and support throughout the programme. They keep the start-ups on track to complete their business plans and help them build businesses with solid foundation.

Mentors also benefit from collaborative learning and by helping start-ups, they may be inspired with new ideas, new business strategies and learn more about the realities of doing business in Africa from African start-ups.

2. ONLINE RESOURCE LIBRARY

Start-ups, alumni and mentors of the Tony Elumelu Foundation Programme (TEEP) have access to the curated online resource library of case studies, sample business plans, research documents, video presentations, industry articles and podcasts that will enhance the competitiveness of TEEP start-ups. The library is accessible from anywhere in Africa. All course content and training materials used at the boot camp will also be cross- linked with the training modules, accessible on the online resource library.

TEEP's goal is to provide a valuable library of relevant content for African entrepreneurs over time that will also be available even after graduating from the programme.

3. BOOTCAMP

This is an intense interactive two-day live action learning experience where specialist trainers help start-ups develop a range of soft skills using face-to-face, interactive teaching methods. This takes place at the end of the 12-week online training programme, prior to the Elumelu Entrepreneurship Forum. The 1000 pan-African TEEP start-ups are gathered in one location to share their stories, build networks and develop their soft skills through personal engagement, in an interactive environment. All selected start-ups are expected to attend the boot camp with logistics and expenses covered by TEEP.

4. ELUMELU ENTREPRENUERSHIP FORUM

TEEP hosts an Annual Elumelu Entrepreneurship Forum to showcase the African start-ups to a global audience of entrepreneurs, incubators, business, corporations, government, investors, academia and foundations. It is a time of engagement, networking, learning and inspiration for start-ups as they conclude their TEEP tenure, and a chance to hear from world renowned executives, scholars and entrepreneurs. At the closing ceremony of the forum, the graduates from the programme are presented with seed capital funding and invited to join the Tony Elumelu Entrepreneurship Alumni Network.

5. SEED CAPITAL FUNDING

The African startups that successfully complete the 12-week programme with the support of their mentors and attend the two-day boot- camp and the Elumelu Entrepreneurship Forum are awarded a non-returnable investment for further development of their business idea by Tony Elumelu, the Founder of the Tony Elumelu Foundation Entrepreneurship Programme (TEEP), at the close of the three-day conference.

TEEP start-ups are continuously monitored on both portfolio and individual basis as they are evaluated for follow-on funding and beyond. Qualifying start-ups that have progressed their business plans sufficiently, qualify for a second stage seed capital investment of $5,000 that is provided as returnable capital.

6. TEEP ALUMNI NETWORK

The Tony Elumelu Foundation Entrepreneurship Programme (TEEP) is a year-long programme in which selected start-ups go through a 12-week training course, develop a rapport “TEEP operates with the belief that entrepreneurship and business skills are teachable and learnable . with a mentor and build the business. Graduation in December of each year marks the end of the programme. Graduates are then plugged into the alumni network through which they can continue to connect with mentors and fellow TEEP start-ups, access the vast online resource library and keep in touch with TEEP. The TEEP Alumni Network fosters a spirit of loyalty, comradery and dedication to give back to the programme thereby promoting the general welfare of the programme and all those it has impacted. TEEP plans for the programme to become Africa's largest entrepreneurship-focused alumni network, providing a safe and secure environment in which to facilitate sharing and collaboration around content, knowledge and information.

The Alumni Network is planned to provide a unique ecosystem for African start- ups to cross-pollinate grassroots businesses with energetic and passionate entrepreneurs all across Africa.

OBJECTIVES OF THE 7 PILLARS OF TEEP

The combination of all of TEEP's modalities; the online live-learning support, web mentoring, immersive boot camp, resource library, global entrepreneurship forum, seed funding and membership of the alumni network has been designed to provide a unique system of intensive and effective support for the start-ups.
It is envisaged that TEEP will bring about strong, viable businesses, which go on to create new jobs, more new revenue and ultimately enlarge Africa's private business sector.

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