Since 2015, the Nigerian foundation
Tony Elumelu Foundation
, through its Entrepreneurship Programme, selects start-ups across Africa to help them grow. This year again, the foundation is granting more than 1000 start-ups, five of which are Mauritian, funding for this purpose!
The entrepreneurial adventure attracts many people who dream of working independently. This is not a risk-free venture, in which entrepreneurs often struggle to find financing to develop. Moreover, the Mauritian start-up AUR (Augmented Reality) Plato Technology Ltd, represented by Shameer Ramdin, whom we met, confirms it. Many start-ups find themselves in such a situation, but they do not want to give up their desire to undertake.
Where to find the necessary financing to develop? When the doors of investors in his country do not open, it is abroad that these young entrepreneurs, like Shameer, turn to find the necessary investment. And that’s how you find out that there are a plethora of investors and organizations ready to give grants to innovative start-ups. To return to the Nigerian foundation
Tony Elumelu Foundation
The foundation invests in thousands of start-ups in the African region such as Mauritius, Madagascar and the Seychelles. Naturally, the countries of the African continent such as Gabon, Algeria, Kenya or Tanzania are not left out!
Shameer says: “It was while searching for different funding opportunities for start-ups in the African region on the internet that I came across the “Entrepreneurship programme” of the foundation Tony Elumelu Foundation. On January 22, I filled out the application form to apply on behalf of the start-up and on March 22, the selection results came in and we were chosen.”
Like Shameer, four other Mauritian start-ups in the field of tourism and renewable energy are among the more than 1000 grantees of the Nigerian foundation.
The
Tony Elumelu Foundation
,
a boost for African start-ups
The hope of many African start-ups lies in this foundation which works for the development of entrepreneurship on the African continent and in the surrounding regions.
The Tony Elumelu Foundation was established in 2010 by philanthropist Tony O.Elumelu. It is one of the best known African philanthropic organizations. She firmly believes that the private sector holds the key to Africa’s economic development. Its mission is the social and economic development of Africa through entrepreneurship and the mentoring of a generation of entrepreneurs: the leaders of tomorrow.
The foundation is investing in the transformation of the entrepreneurial landscape in Africa and as such is constantly rolling out programs and initiatives that will help shape Africa for the next generation.
The four programs it offers are as follows:
- The Tony Elumelu Foundation Entrepreneurship Programme
- Entrepreneurship Ecosystem
- Research Advocacy and Partnerships
- Technology-Enabled Operations
Shameer got the funding to develop his augmented reality start-up by applying for the Tony Elumelu Foundation Entrepreneurship Programme .
Launched in 2015, the Tony Elumelu Foundation Entrepreneurship Program is Africa’s largest philanthropic initiative dedicated to entrepreneurship. This program represents :
- A commitment of $100 million over 10 years to identify and empower 10,000 African entrepreneurs
- The creation of one million jobs
- 10 billion increase in revenue for African economy
