Tony Elumelu Entrepreneurship Programme
The Tony Elumelu Entrepreneurship Programme (TEEP) is an entrepreneurial initiative run by the Tony Elumelu Foundation, based in Nigeria, spanning across Africa. The programme’s founder is billionaire businessman and philanthropist, Tony O. Elumelu C.O.N and the CEO of the Tony Elumelu Foundation is Parminder Vir, OBE.
The programme gives training, mentorship and seed capital to entrepreneurs with start-up business ideas they want to execute in Africa. By doing so, TEEP embodies Africapitalism, the economic philosophy that Elumelu coined.
History
TEEP was unveiled on 1st of December 2014 in Lagos, Nigeria, one month ahead of the portal opening for applicants on 1 January 2015. During the unveiling press conference, founder Tony O. Elumelu, CON, made a $100 million commitment to the programme which will run every year for a 10-year duration.
In the January 2015 edition of The Economist magazine, Tony Elumelu predicted, “In 2015, the African entrepreneur will explode on to the global stage, as a new generation shows the world what those of us doing business in Africa have long known: that our continent is home to some of the most exciting and innovative entrepreneurial talent.”
