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Youth fund: 37 Kenyans entrepreneur selected for Tony Elumelu foundation


NAIROBI, KENYA: 37 Kenyans have made it to this year’s fourth cycle funding in the Tony Elumelu Foundation (TEF) entrepreneurship programme.
More than 150,000 Africans from 114 countries worldwide applied to join the programme
The foundation announced the African entrepreneurs with the most innovative, high-potential business ideas awarding Kenyan entrepreneurs with bankable business ideas that were feasible and financially scalable an opportunity to benefit from mentorship and funding of up to Sh500,000.
The 2018 cohort included an additional 250 entrepreneurs to the standard selection of 1,000 – thanks to: a $1,000,000(Sh100million) partnership with the International Committee of the Red Cross (ICRC) to support 200 entrepreneurs in conflict and fragile zones of Africa.

Kenya has had over 200 entrepreneurs who have benefited from the grant. There has been quiet an improvement this year compared to other years and Youth Enterprise Development Fund was applauded by TEF for mobilising entrepreneurs to apply for the 2018 cohort.
“The number and quality of applicants 151 000 in total, was outstanding – it illustrates the strength and depth of entrepreneurial promise and commitment on our continent,” said TEF Founder, Tony O. Elumelu.

“Selection is never easy, and we profoundly regret that we cannot help all. Our partnerships with the Red Cross, UNDP and Indorama, alongside ongoing discussions with other international organizations, reflect the growing global recognition of what we have known all along - that entrepreneurship is the most effective path to sustainable development on our continent and our progamme is the model to follow," he added.
There was a near 50-50 split between male and female an applications reflecting the entrepreneurial ambition of Africa’s women.
Agriculture was the leading sector among selected entrepreneurs at 30.5 per cent, followed by technology (10.5pc) and education & training (9 percent).

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