Young African entrepreneurs now have another opportunity to access funding and business support through the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) program, which has officially launched its second application cycle.
The FAST program supports young entrepreneurs from across Africa to strengthen and scale their businesses. It provides grant funding, mentorship, and business development training to alumni of four key leadership and entrepreneurship programs:
- Mastercard Foundation Scholars Program
- African Leadership Academy (ALA)
- Anzisha Prize
- Young African Leaders Initiative (YALI)
The program targets both new business ideas and early-stage ventures, offering grants of up to USD 15,000, depending on the development stage of the business.
Two Stages of Support
The FAST program is structured to meet entrepreneurs at different stages of growth:
- Idea Phase: Up to $5,000 in funding to develop and refine a business concept.
- Build Phase: Between $10,000 and $15,000 for more advanced ventures to support growth and sustainability.
In addition to financial support, participants benefit from:
- Mentorship
- Business advisory services
- Workshops
- Networking opportunities with peers and experienced entrepreneurs
Who Can Apply?
Applicants must meet the following criteria:
- The business must be a for-profit venture (nonprofits are not eligible).
- It must be majority-owned by an alumnus or alumna of one of the four eligible programs.
- Applicants must be 34 years old or younger at the time of application.
- The business must be based in a qualifying country (listed on the application form).
- Proof of alumni status must be submitted.
- Applicants must be able to participate in the program in Arabic, English, French, Portuguese, or Spanish.
The Mastercard Foundation and its partners strongly encourage applications from:
- Women
- Refugees or forcibly displaced persons
- Persons with disabilities
This is in line with its commitment to inclusive entrepreneurship across Africa.
Application Details
The FAST program is delivered in partnership with a network of innovation and entrepreneurship organizations, including:
- CCHub Nigeria
- MDF Global
- Concree
- Scale Up
- Savannah Innovations Lab
- Center for Enterprising Organizations
- Inkomoko
- Africa Leadership Academy (ALA)
The deadline to apply for the current cycle is April 27, 2025. Interested alumni entrepreneurs must complete the application before the deadline to be considered.
Applications and further information are available via the official portal: nhttp://Fund for Alumni Start-ups in Transition Application
