An overview of TEF’s Success strategy According to Our DOO, Ifeoma Okafor-Obi
In Summary
An Entrepreneur needs to have a vision.
An Entrepreneur needs to have a burning conviction about his business
An entrepreneur needs to be ready to put his sweat and resources to use to achieve his aim once empowered with the right training
He needs to have strong marketing plan and know his income sources
THE TEF Model
TEF Entrepreneurship program is a 10 year commitment to select train and empower 10,000 entrepreneurs to create 1million jobs in 10 years. Now in its 6th year we have almost reached our commitment through partnerships because our model has been proven to be successful and sustainable. We are Pan African and our key thematic area is entrepreneurship,
What makes it successful is that we achieve in 1 year, what takes some programs like the apprenticeship program 5 to 8 years to achieve.
- We chose people with ideas
- Commitment to bring it to life
- We Train and equip them with knowledge, business mentorship and network
- training is an intensive training and mentorship with emphasis on marketing, financial management, scaling structure, transparency and corporate governance to enable them access 2nd stage funding,
- We give Seed capital to encourage them to expand their ideas or businesses
- Exposure to additional trainings and value add to scale
- Networking opportunities and learning opportunities
- We give them access to markets through our proprietary Technology platform TEFConnect
TEF builds confidence and capability, Democratizes luck with seed capital to start up, Provides ongoing mentorship, access to a network and value add exposure to scale their businesses.
Our program has been proven and successful so we were able to attract partners and we almost hit our 10 year commitment in 5 years. Last year alone, we had over 3000 entrepreneurs our flagship program and additional 2100 through our partnership with UNDP Sahel
