Microsoft partners with Tony Elumelu Foundation (TEF) to provide tech support for entrepreneurs

MICROSOFT, through its 4Afrika Initiative, has collaborated with the Tony Elumelu Foundation (TEF) to provide entrepreneurs in the TEF Entrepreneurship Programme with technology-based tools, resources and mentorship.

Through this support, which will benefit TEF entrepreneurs across the continent, both organisations would help entrepreneurs effectively use ICT to modernise their businesses, enrich their offerings and reach new customers.

According to Akin Banuso, General Manager, Microsoft Nigeria, Microsoft 4Afrika and the Tony Elumelu Foundation share a common goal to accelerate economic and social development by promoting entrepreneurship.

“As we enter into an era of digital transformation, it’s vital that we help all entrepreneurs develop relevant technology skills and integrate ICT into their businesses. Technology can help SMEs reach customers outside their local markets, generate powerful business insights and improve their customer retention. We have found that SMEs who adopt this kind of modern IT have seen 15% faster revenue growth than those not using it,” he said.

With the partnership, entrepreneurs would be provided with access to cloud-based software, online support and technology through BizSpark and access information and markets through the Biz4Afrika platform, where SMEs can trade with similar-sized organisations

Also, TEF entrepreneur would be trained on Microsoft technologies and platforms during the 2017 TEF Forum and trained through the Microsoft Virtual Academy, among others.

Parminder Vir OBE, CEO, Tony Elumelu Foundation, noted that every year, the TEF Entrepreneurship Programme provides 1,000 entrepreneurs with business training, mentoring, access to seed capital funding and membership into the TEF Africa-wide Network.

“Through this partnership, we are supporting each other’s mission to enable Africa’s entrepreneurs to drive their businesses forward, he said.

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In addition, Microsoft will also identify high potential entrepreneurs from the TEF Entrepreneurship Programme and integrate them into its Innovation Grant Programme.

During the MOU singing at Microsoft headquarters, one TEF Entrepreneur already benefitting from the partnership, Adeniyi Olayemi said: the training I received through the Foundation helped me to refine my business idea and then produce a successful proposal, then once we’ve received access to Microsoft’s Azure software, I was able to close on a deal.”

Since 2013, the Innovation Grant Programme has provided financial support to over 55 local start-ups, who have since generated $5.1 million in reciprocal investments.