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Youths with local start-ups anticipate to profit from Rfw 77.5bn TEEP funding

February-05
09:07 AM 2016


Clarisse Uwineza, one of the 2015 TEEP Class of beneficiaries, during the boot camp in Lagos, Nigeria (photo/ The New Times.

As per to New Times, start-ups have up to March 1 to submit their applications to the TEEP 2016 competitions. The programme accepts applications from all across the continent, from various sectors, including agriculture, ICT, housing, media, education, transportation, textiles and manufacturing, among others. Last year, 15 Rwandan firms made it to the final 1,000 start-up businesses that attended the TEEP 2015 boot camp in Lagos, Nigeria.



Victor Nkindi, a Rwandan finalist at TEEP 2015 and a digital media entrepreneur

Each of Rwandan entrepreneurs received $10,000 (about Rwf7.8 million) to inject in their projects. They were from areas of agriculture, ICT, healthcare, education, transportation and general trade. “This is a huge opportunity for local firms to access funding and mentorship to grow their enterprises. Access to TEEP network will open more opportunities for them,” he said in an interview yesterday. Victor Nkindi, a Rwandan finalist at TEEP 2015 and a digital media entrepreneur said.

The programme is open to all Africans with startup businesses operating in Africa who are aged 18 years and above. This programme is designed to identify 10,000 African start-ups and entrepreneurs with ideas that have the potential to succeed. TEEP is the $100 million flagship entrepreneurship programme of the Tony Elumelu Foundation. Last year, 20,000 applicants, representing 51 African countries, including Rwanda submitted projects, 1,000 of which made it to the finals of the competition.

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