Mastercard 2024 Fund for Alumni Startups in Transition (FAST) Program

The Mastercard Foundation, in partnership with CCHub Nigeria, MDF Global, Concree, Scale up, Savannah Innovations Lab, the Center for Enterprising Organizations, Inkomoko, and the Africa Leadership Academy (ALA), is excited to announce the launch of the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) program.

The Mastercard Foundation FAST program will support and empower the next generation of entrepreneurs by providing up to $15,000 in support for each venture.

The program, open to aspiring entrepreneurs or those in the early stages of their entrepreneurship journey, offers a unique opportunity for alumni from the Young African Leaders Initiative (YALI), African Leadership Academy (ALA), Anzisha Prize, and the Mastercard Foundation Scholars Program.

Participants will gain access to funding, business development training, and a supportive network of like-minded entrepreneurs and mentors.

• Table of Content
• About MasterCard Foundation
• Fund for Alumni Startups in Transition (FAST) Program
• Aim and Benefits of Fund for Alumni Startups in Transition (FAST) Program
• Requirements for Fund for Alumni Startups in Transition (FAST) Program Qualification
• Interview date, Process and Venue for Fund for Alumni Startups in Transition (FAST) Program
• Application Deadline
• How to Apply

About MasterCard Foundation

The Mastercard Foundation is an international non-governmental organization established by Mastercard in 2006. The organization, which is based in Toronto, Ontario, has supported work in 49 countries.In 2018, Mastercard Foundation shifted to a specific focus on Africa, through its Young Africa Works strategy. The foundation develops programs primarily focused on reducing gender and economic inequality, expanding access to quality education, increasing the opportunities for decent work, and supporting overall economic growth.Funding is primaril... continue reading

Fund for Alumni Startups in Transition (FAST) Program

Aim and Benefits of Fund for Alumni Startups in Transition (FAST) Program

The Mastercard Foundation FAST program will provide support in two key stages to assist entrepreneurs at different points in their journey:

• Idea Phase: Up to $5,000 to help develop and refine initial ideas.
• Build Phase: $10,000 to $15,000 to transform the ideas into viable business models.

Requirements for Fund for Alumni Startups in Transition (FAST) Program Qualification

To be eligible for the FAST program, the (proposed or established) business must be… 

• A for-profit business (Not-for-profit entities do not qualify for FAST) 
• Majority owned by alumni of at least one of these four programs: Mastercard Foundation Scholars Program, African Leadership Academy (ALA), Anzisha Prize, Young African Leaders Initiative (YALI). 
• Located in one of the qualifying countries (please check the Application Form for the full list of countries).

Interview date, Process and Venue for Fund for Alumni Startups in Transition (FAST) Program

The length of the FAST program varies across implementing partners, but typically lasts between 3 to 6 months. The length of the program may also depend on the “stage” of your business as determined by the implementing partner (e.g. “idea,” “build”). You are expected to attend the required activities throughout the duration of the program to successfully complete the FAST program.

Application Deadline

How to Apply

For more details, visit Mastercard Foundation website