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

Published: 14 Aug 2024

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.

Mastercard Foundation FAST Program

Application Deadline	September 15, 2025
Value	$15,000
Funding Type	Partially Funded
Type	Entrepreneurs
Sponsor	Mastercard Foundation
Gender	Men and Women

Benefits of Mastercard Foundation 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 Mastercard Foundation FAST Program

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).

Selection Process

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

September 15, 2025

How to Apply

Interested and qualified? Go to Mastercard Foundation on mastercardfdn.org to apply