SwapAfrica, an online barter trade platform, is among over 100 Ugandan startups that have been shortlisted for the fifth cycle of the TEF Entrepreneurship Programme.
Overall, 3,050 African entrepreneurs were drawn from all 54 African countries and the Programme will pit them against each other in order to remain with only 1000.
The Tony Elumelu Foundation programme is a 10-year, US$100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024.
In a statement, officials said that 216,000 African entrepreneurs applied for the fifth cycle of the TEF Entrepreneurship Programme.
This was an increase from last year’s 151,000.
The final 1000 will each receive US$5,000 in seed capital, access to mentors, and a 12-week business training programme directly focused on the needs of African entrepreneurs.
On July 26-27, they will gather at the TEF Entrepreneurship Forum.
The Tony Elumelu Foundation Entrepreneurship Programme has so far empowered 7,520 entrepreneurs in its first five years of the 10-year programme.
The selection for the fifth cycle of the TEF Entrepreneurship Programme includes an additional 2,050 entrepreneurs supported by the foundation’s partners in addition to the foundation’s annual commitment of 1,000.
The African entrepreneurs that applied for the Programme submitted projects covering sectors like Agriculture, ICT, Health Care, Transportation.