1250 Entrepreneurs
Chosen for the Tony
Elumelu Foundation
2018 Programme
The Tony Elumelu Foundation has announced
its 2018 cohort of 1,250 African entrepreneurs
with the most innovative, high-potential
business ideas. More than 150,000 Africans
from 114 countries worldwide applied
to join the 4th cycle of The Tony Elumelu
Foundation's (TEF) 10-year, USD 100 million
TEF Entrepreneurship Programme.TEF Founder, Tony O. Elumelu, commented:
"The number and quality of applicants, 151,
in total, was outstanding – it illustrates the
strength and depth of entrepreneurial promise
and commitment on our continent. Selection is
never easy, and we profoundly regret that we
cannot help all." The selection comes along with
a USD 1Mn partnership with the International
Committee of the Red Cross (ICRC) to support
200 entrepreneurs in conflict and fragile zones
of Nigeria (the North East where the Boko
Haram scourge is felt and the Niger Delta
region which suffers environmental degradation
from oil spillage), USD 200K agreement
with the United Nations Development
Programme (UNDP) to support 40 pan-African
entrepreneurs and a USD 50K partnership with
Indorama to support 10 Nigerians.Over the next nine months, the
entrepreneurs will receive online training and
mentoring and will use the skills acquired
to develop business plans prior to receiving
USD 5,000 in seed capital.#BuyaBusiness Expo
taking place 6-
September
The annual
#BuyaBusiness
Expo will take
place on 6-
September at
the Ticketpro Dome in Johannesburg,
and aims to connect entrepreneurs
and investors who are looking to grow,
diversify or enter into business ownership
with one of the business and franchise
opportunities available at the show.
Visit http://www.reedexpoafrica.co.za to
fill in an application form if you are a
franchisor or business owner looking to
exhibit, or to find out more about what's
on offer for prospective business owners.bizEvents online news^ |^ http://www.bizmag.co.za
Startups can apply for the 2018
edition of the Inventor's Garage and
Pitching Den competitions from 1
February, with the last date for online
submissions being 1 June.The Pitching Den is aimed at
companies with innovative tech-
enabled solutions with potential to
make a significant impact on thecontinent. The Inventor's Garage on
the other hand is aimed at innovators
with working prototypes.A panel of judges will select
between 20 to 25 finalists who will
get the opportunity to pitch their
businesses at the 2018 South African
Innovation Summit set to take place
in September.OF THE YEAR
Inventor's Garage and Pitching Den
competitions invite entries
ENTRIES OPEN FOR
The 2018 Entrepreneur of the Year®
competition, sponsored by Sanlam and
BUSINESS/PARTNERS, is now in its
30th year and offers prizes valued
at over R2 million, which includes
cash prizes of R70 000 for each main
category winner, and R200 000 for the
overall winner. Competition winners also
receive valuable mentorship support,
networking opportunities and national
media exposure.
"The judges are looking for
entrepreneurs that have succeeded
against the odds, either by carving out a
niche market for their product or service
offering, or by succeeding in a very
competitive environment. Perseverance
and endurance, innovation and agility
are some of the qualities we look for
in the entrepreneur," says competition
spokesperson Kobus Engelbrecht.
Engelbrecht adds that there are also
a number of quantitative competition
measures, such as turnover growth,
profitability, owners' equity growth,
positive cash flows and job creation
that play a part in the competition's
judging process.
The competition is open to all South
African-based businesses and prizes are
awarded for the following categories:
Overall Entrepreneur of the Year®,
Emerging Business Entrepreneur of the
Year®, Small Business Entrepreneur
of the Year®, Medium Business
Entrepreneur of the Year®, Job Creator
of the Year and Innovator of the Year.
Engelbrecht adds that this year, the
2018 competition will also recognise
a South African entrepreneur for a
Lifetime Achievement award. "The
purpose of this specially nominated
award is to recognise an entrepreneur
who has made a significant contribution
to the South Africa economy and has
grown their business from a start-up
to a large-scale, perhaps even multi-
national corporation. We want to reward
the individuals who have dedicated
their lives to building our economy and
inspiring others to do the same."
Entrepreneurs are encouraged to enter
the competition and can do so by
downloading the entry form online at
http://www.eoy.co.za. They can also interact
with fellow entrepreneurs, past winners
and entrants on the competition's social
media platforms: http://www.twitter.com/@
EOY_SA andwww.facebook.com/EOY.
SA. The closing date for the competition
is 31 May 2018.