Tony Elumelu Foundation
- Company typePrivate
- Founded2010
- HeadquartersLagos, Nigeria
- Headcount11–50
- GTM typeB2C
- OfferingServices
Tony Elumelu Foundation firmographics
Firmographics- Name
- Tony Elumelu Foundation
- Legal name
- The Tony Elumelu Foundation
- Website
- https://tonyelumelufoundation.org
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Tony Elumelu Foundation industry classification
Industry- Product category
- Philanthropy and Entrepreneurship Development
- NAICS
- Grantmaking Foundations (813211), Other Grantmaking and Giving Services (813219)
- SIC
- Services-Educational Services (8200), Services-Social Services (8300)
- akta.pro primary industry
- Community Foundations (BPAGAKAB)
- akta.pro secondary industries
- Entrepreneurship Foundations & Startup Basics (EDAMAHAA), Small Business & Entrepreneurship Community Education (EDAAAFAK), Philanthropy & Foundations Advisory (Donor-Advised Funds, Endowments) (FSAAABAH)
Keywords
Where Tony Elumelu Foundation is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
Tony Elumelu Foundation business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Philanthropic Grant Disbursement: The Tony Elumelu Foundation is a philanthropy organisation that deploys grant capital to African entrepreneurs. The foundation does not generate commercial revenue but relies on founder endowment and partnership funding to support its entrepreneurship programme. As a grant-giving organisation, it does not operate on a traditional revenue model.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Non-refundable seed capital grant of $5,000 per selected entrepreneur |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Tony Elumelu Foundation product offering
Product offeringCore offering
The Tony Elumelu Foundation is a non-profit philanthropy that empowers African entrepreneurs by providing $5,000 non-refundable seed capital grants, a 12-week business management training programme (Startup Enterprise Toolkit), mentorship, and access to investor networks. Its flagship TEF Entrepreneurship Programme operates annually, selecting cohorts of entrepreneurs across all 54 African countries through its proprietary TEFConnect digital platform.
Product overview
The Tony Elumelu Foundation operates as a unified philanthropy platform with TEFConnect as its core digital infrastructure. TEFConnect serves as the all-encompassing online platform hosting applications, training delivery, mentoring, and alumni networking for all programmes. The flagship TEF Entrepreneurship Programme provides $5,000 non-repayable seed capital combined with a 12-week business management training, mentorship, and investor network access. Additional programme sub-brands include IYBA-WE4A for women-led green businesses (in partnership with EU/OACPS/BMZ/GIZ), BeGreen Africa for green sector entrepreneurs in select countries, and the Aguka Ideation Programme for Rwandan early-stage entrepreneurs. Since 2015, over $100 million has been disbursed to more than 24,000 entrepreneurs across all 54 African countries.
Differentiator
Problem solved
Functional benefit
Brands
- TEFConnect: The foundation's proprietary digital platform serving as the all-encompassing online platform hosting the application process, mentoring and learning platform, and TEF Alumni Network. It has over 2.5 million registered individuals.
- BeGreen Africa
- IYBA-WE4A
- Aguka
- TEF Woman
Products and services
- TEFConnect The proprietary all-encompassing digital platform serving the Tony Elumelu Foundation and its programmes, hosting the application process, 12-week Startup Enterprise Toolkit training delivery, mentoring and learning systems, and the TEF Alumni Network for continuous engagement and opportunities.
- TEF Entrepreneurship Programme The flagship programme offering $5,000 non-refundable seed capital, 12-week business management training (Startup Enterprise Toolkit), mentorship from global professionals, and access to investor networks. Open to African entrepreneurs aged 18 and above with business ideas or early-stage ventures across all 54 African countries. Selection is conducted via a five-stage process by Ernst & Young.
- IYBA-WE4A (Investing in Women and Women Entrepreneurship for Africa) A programme focused on women entrepreneurs with green business ideas or existing green businesses, implemented in partnership with European Union, OACPS, BMZ, and GIZ. Provides $5,000 seed capital, green sector training, and mentorship to women-led green businesses across eight African countries.
- BeGreen Africa
Quantifiable outcome
- Over $100 million disbursed to more than 24,000 entrepreneurs since 2015
- +5 more outcomes
Companies that use Tony Elumelu Foundation
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Tony Elumelu Foundation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Tony Elumelu Foundation partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered minor, core and flagship.
- Nigerian Armed Forces Resettlement Centre (NAFRC)minorNAFRC is in discussions with the Tony Elumelu Foundation regarding a proposed empowerment programme for widows and children of fallen military personnel, extending TEF's reach to military families.
- UNDP (United Nations Development Programme)coreUNDP has partnered with TEF to support young African entrepreneurs, recognising the foundation's transformative potential for Africa's economic development. The partnership integrates TEF's entrepreneurship programme with broader UN development goals.
- UNICEFflagshipUNICEF has partnered with TEF, recognising the foundation's innovative approach to youth entrepreneurship development across Africa. The partnership contributes to youth empowerment and economic development objectives.
- Rwandan Ministry of Youth and ArtsminorThe Rwandan Ministry of Youth and Arts partnered with TEF to support entrepreneurs in Rwanda, including the Aguka Ideation Programme for young Rwandan entrepreneurs aged 18-30.
- Professor Paul Gompers (Harvard Business School)flagshipAppointed to TEF's Advisory Board to strengthen the foundation's ability to connect Africa with global partners and scale its mission of economic inclusion for African entrepreneurs. Brings expertise in venture capital.
- Per Heggenes (former CEO, IKEA Foundation)flagshipAppointed to TEF's Advisory Board, bringing expertise in global grant-making and philanthropy collaboration to help scale the foundation's mission and bridge Africa with global partners.
- His Excellency Badr Jafar (CEO, Crescent Enterprises)flagshipAppointed to TEF's Advisory Board as UAE Special Envoy for Business and Philanthropy, bringing cross-regional business expertise and philanthropy collaboration to expand TEF's global network.
- UNCDF (United Nations Capital Development Fund)flagshipSigned African Youth Entrepreneurship Agreement between TEF and UNCDF to support youth entrepreneurship across Africa through joint programme development and financing.
- International Committee of the Red Cross (ICRC)flagshipPartnership with ICRC to support young African entrepreneurs, integrating humanitarian and development approaches to economic empowerment.
- European Commission Executive Vice President Margrethe VestagerflagshipTony Elumelu hosted European Commission Executive Vice President Margrethe Vestager, signalling high-level European Union support for TEF's entrepreneurship development mission.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Tony Elumelu Foundation competitors and assessment
Company assessmentDirect peers
- Anzisha Prize: Anzisha Prize is a pan-African award and fellowship that identifies, supports, and funds very young African entrepreneurs (ages 15-22). It shares TEF's direct cohort-based model of selecting African founders through a competitive process, providing seed capital, training, and mentorship—making it the closest direct peer on programme design and target segment.
- Endeavor Africa: Endeavor selects, mentors, and accelerates high-impact entrepreneurs globally including in Africa. Both TEF and Endeavor operate a curated high-touch selection model with mentorship and network access for scaling founders, though Endeavor focuses on post-revenue scale-ups rather than pre-seed.
Emerging players
- Shell Foundation: Shell Foundation catalyses energy access and livelihoods for underserved communities through enterprise support in Africa and Asia. Comparable as a grantmaker pairing philanthropic capital with enterprise development support for early-stage African ventures, particularly in energy/access sectors overlapping TEF's BeGreen Africa and IYBA-WE4A programmes.
- Seedstars Africa: Seedstars runs early-stage startup competitions and accelerators across emerging markets, with deep African coverage. Comparable as an early-stage programme providing seed funding, training, and exposure for African founders, though more private-sector/VC-oriented than TEF's philanthropy model.
- Villgro Africa: Villgro Africa incubates and funds science-and-technology-based African startups addressing social issues. It overlaps with TEF in providing early-stage capital and capacity-building for African founders with impact-focused business models.
Broad incumbents
- Mastercard Foundation: Mastercard Foundation is one of the largest philanthropic organisations in Africa, deploying billions into youth employment, education, and entrepreneurship (e.g., Young Africa Works). Comparable as a large-scale African philanthropy backing entrepreneurship ecosystems at a continent-wide level, with overlapping beneficiary pools to TEF.
- Acumen Africa: Acumen invests patient capital and provides business support to early-stage social enterprises tackling poverty in Africa. Like TEF, it combines non-dilutive/structured capital with training and mentorship for African founders, though it operates a smaller, more curated portfolio.
- Mo Ibrahim Foundation: The Mo Ibrahim Foundation focuses on African governance, leadership, and youth entrepreneurship/initiatives. It is comparable to TEF as an African-led, founder-funded philanthropy deploying capital and programming to catalyse African development outcomes.
- African Development Bank (AfDB) Youth Entrepreneurship Programmes: AfDB runs multi-billion-dollar African entrepreneurship, skills, and innovation programmes (e.g., Jobs for Youth in Africa, Africa Investment Forum). Comparable to TEF as a major institutional funder of African entrepreneurship and SME support across the continent.
Regional players
- Tony Blair Institute / Africa-focused development organisations: Western-led Africa-focused development organisations (e.g., Tony Blair Institute, AGRA, FCDO programmes) operate African entrepreneurship support at scale. They are comparable as large institutional players driving African entrepreneurship, job creation, and skills programmes, often in partnership with philanthropic funders.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Tony Elumelu Foundation social profiles
Digital presenceTony Elumelu Foundation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Tony Elumelu Foundation leadership team
Management profileNumber of profiles
Profiles2 records
Tony Elumelu Foundation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Tony Elumelu Foundation M&A and investment
M&A and investmentM&A
Investments31 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Tony Elumelu Foundation
What does Tony Elumelu Foundation do?
The Tony Elumelu Foundation is a non-profit philanthropy that empowers African entrepreneurs by providing $5,000 non-refundable seed capital grants, a 12-week business management training programme (Startup Enterprise Toolkit), mentorship, and access to investor networks. Its flagship TEF Entrepreneurship Programme operates annually, selecting cohorts of entrepreneurs across all 54 African countries through its proprietary TEFConnect digital platform.
Is Tony Elumelu Foundation a public or private company?
Tony Elumelu Foundation is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Tony Elumelu Foundation founded?
Tony Elumelu Foundation was founded in 2010. It employs 11 to 50 people.
Where is Tony Elumelu Foundation based?
Tony Elumelu Foundation is headquartered in Lagos, Nigeria, in the Africa region.
How does Tony Elumelu Foundation make money?
One revenue line is on record: philanthropic Grant Disbursement.
Who are Tony Elumelu Foundation's main competitors?
Direct peers on record are Anzisha Prize and Endeavor Africa. Emerging players are Shell Foundation, Seedstars Africa and Villgro Africa. Broad incumbents are Mastercard Foundation, Acumen Africa, Mo Ibrahim Foundation and African Development Bank (AfDB) Youth Entrepreneurship Programmes. Tony Blair Institute / Africa-focused development organisations is listed as a regional player.
Does Tony Elumelu Foundation have an API?
No public API is recorded for Tony Elumelu Foundation.
What industry is Tony Elumelu Foundation in?
Tony Elumelu Foundation's product category is Philanthropy and Entrepreneurship Development. Its primary akta.pro industry code is BPAGAKAB, Community Foundations, with a secondary code of EDAMAHAA, Entrepreneurship Foundations & Startup Basics. Its NAICS code is 813211 and its SIC code is 8200.