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1000 African Entrepreneurs Selected for $100 Million Tony Elemelu Entrepreneurship Program

Farai Gundan | Forbes   in  ·
March 26, 2015

The inaugural group of winners of the Tony Elumelu Entrepreneurship Program (TEEP) was announced earlier today in Lagos, Nigeria. One thousand African entrepreneurs representing 52 African countries and territories were decided upon by the TEEP selection committee comprised of some of Africa’s distinguished industry captains and leading entrepreneurs includingMonica Musonda, CEO, Java Solutions; Ory Okolloh, Director of Investments, Omidyar Network’s Government; Professor Reid Whitlock, the new CEO of the Tony Elumelu Foundation. Parminder Vir OBE, Director of Entrepreneurship at the Tony Elumelu Foundation, said, “The high quantity and quality of applicants we have received is testament to the brilliant ideas and incredible talent that exists in abundance across Africa.”

Following the shortlist from the selection committee, Accenture Development Partnerships was appointed as an independent consultant to thoroughly evaluate each application based upon criteria approved by the committee; the evaluation criteria included, feasibility, market opportunity, financial understanding, scalability and leadership potential and entrepreneurial skills. “We are delighted to dedicate our expertise in the evaluation of thousands of applications from across the continent and partner with the Foundation on this historic initiative to empower African entrepreneurs,” said Niyi Yusuf, Nigeria’s Country Managing Partner, Accenture.

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