The Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program
Empowering the next generation of entrepreneurs
Status
active
Period
Ongoing
This information is available in the following languages:
The second application drive for the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) program is opening soon. FAST supports and empowers the next generation of entrepreneurs by providing enterprise support and connecting participants to business development training and a supportive network of like-minded entrepreneurs and mentors.
FAST is a partnership of the Mastercard Foundation with CCHub Nigeria, MDF Global, Concree, Scale up, Savannah Innovations Lab, the Center for Enterprising Organizations, Inkomoko, and the Africa Leadership Academy (ALA).
Who Can Apply?
FAST is open to aspiring entrepreneurs or those in the early stages of their entrepreneurship journey. It offers a unique opportunity for Alumni from the following programs:
- Young African Leaders Initiative (YALI)
- African Leadership Academy (ALA)
- Anzisha Prize
- Mastercard Foundation Scholars Program
Note: Applicants who are nearing graduation can receive a provisional acceptance letter and, upon completing their studies, join the next cohort.
The application and program are available in English, French, Portuguese, and Arabic.
Commitment to Inclusive Growth
FAST aims to foster inclusivity and provide opportunities to a wide range young people, including young women, refugees and displaced persons, and young people living with disabilities.
Financial Support and Disbursement Amounts
Disbursement amounts are based on the needs of the entrepreneur and their enterprise and include considerations such as the stage at which the enterprise is at in its development. Specific funding amounts will be determined on a case-by-case basis, and not all participants will receive funding to support their enterprise.
Providing support in two key stages
-
Idea Phase: An average of USD $3000 (up to $5,000) to help develop and refine initial ideas.
-
Build Phase: An average of USD $12,500 (up to $15,000) to transform the ideas into viable business models.
Program Support
Participants will gain access to funding, business development training, and a supportive network of like-minded entrepreneurs and mentors.
Learn more about Education and Transitions
Facilitating young people’s pathways from education to dignified and fulfilling work and entrepreneurship.
