The Tony Elumelu Foundation Entrepreneurship Programme has announced the third round of the annual competition. The programme gives Rwandans with bankable and innovative business ideas that are feasible and financially scalable an opportunity to benefit from mentorship and funding of up to $10,000 (Rwf8.4 million).

According to a statement from Tony Elumelu Foundation, application for the 2017 entrepreneurship programme open on January 1 and close on March 1. The programme targets African entrepreneurs, including Rwandans. This year, 20 Rwandans were among the 1,000 businesses that qualified for funding and mentorship. Fifteen Rwandan entrepreneurs participated in the inaugural programme in 2015.

"Entrepreneurs must complete the online application and selection is on a rolling basis, so early application is encouraged,” reads the statement. Applicants should be above 18 years of age.

Tony Elumelu Foundation Entrepreneurship Programme is a 10-year initiative with a $100 million commitment to create and empower 10,000 start-ups and that is expected to contribute $10 billion in annual revenues to Africa’s economy.

It is funded byTony Onyemaechi Elumelu, an African economist, a visionary entrepreneur and a philanthropist, who believes that entrepreneurship can unlock Africa’s potential for economic transformation.

Yvette Ishimwe, from the Class of 2016, said the programme gives young entrepreneurs an opportunity to learn new skills that could help boost their businesses. Rwanda’s other particiapants at this year’s boot camp in Lagos, Nigeria are Denyse Uwineza and Selemani Nyirurugo.