CALL FOR PROPOSALS (RFP) – THE TONY ELUMELU FOUNDATION (BUSINESS PLAN REVIEW)
THE TONY ELUMELU FOUNDATION
Project title: The Tony Elumelu Foundation Entrepreneurship Programme Subject of the RFP: Consulting Services to provide comprehensive business plan review for the Tony Elumelu Foundation Entrepreneurs programme.
The Tony Elumelu Foundation (TEF) is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalyzing job creation across all 54 African countries, and increasing women economic empowerment. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
The Foundations aims to:
Promote entrepreneurship development in Africa with a focus on startups and existing MSMEs (Micro Small and Medium Enterprises).
Provide entrepreneurship skills training to startups and emerging African entrepreneurs.
Deliver Business Development Services (BDS) necessary for startups and existing MSMEs across Africa for growth and diversification.
Promote innovation, mentoring, technology development, networks, and market linkages among African Entrepreneurs.
Undertake initiatives that promote access to affordable credit, working capital, guarantees, and other financial services suitable for startups and small businesses in Africa.
Advance policy advocacy by facilitating partnerships with state and non-state actors to improve the operating business environment for local enterprises’ development in Africa.
Setting up systematic monitoring and evaluation of the impact on African Entrepreneurs.
Engage private sector leaders, corporations, and businesses to support the development of African entrepreneurs.
The TEF Entrepreneurship Programme directly addresses some of the most endemic challenges to African start-ups through a 4-step process:
An online toolkit– The TEF Entrepreneurship Programme provides access to TEF’s proprietary online Start-up Toolkit training, which is comprehensive, practical training that equips entrepreneurs with resources on financial planning, market analysis, product marketing, business management skills, and many more. Over a period of 8 weeks, the entrepreneurs are assigned training modules with assignments that are completed with dedicated mentors. A weekly webinar is held by TEF to facilitate a deeper understanding of the principles covered and respond to questions. Interpretation in French, Portuguese and Arabic are available for non-English speaking entrepreneurs to follow the training as well.
Mentoring– The TEF Entrepreneurship Programme matches mentors selected from all over the world with entrepreneurs to coach and guide them through the training window. The mentorship leverages online tools such as the TEFconnect platform, emails, social media, etc. Mentor selection and matching is carefully conducted to ensure alignment with the entrepreneurs’ goals and objective
Business plan preparation and review– The TEF Entrepreneurship Programme further supports entrepreneurs that have been through the training to develop a business plan using a simplified template provided. After this, a business plan certification competitive process occurs to review, provide feedback, and refine the document to ensure feasibility.
Seed capital investment– Upon certification of the business plan, the TEF Entrepreneurship Programme and its funding partner will provide a non- refundable seed capital investment of up to USD2,000 or its equivalent in local currency in a corporate bank account in the business name of the entrepreneur. A due diligence exercise is conducted in which the entrepreneur is required to fulfill certain compliance criteria before being eligible for the funding.