Deadline: March 20, 2026
Entrepreneurship remains one of the most powerful pathways for young Africans to create jobs, build sustainable livelihoods, and drive economic transformation across the continent. Recognising this potential, the Mastercard Foundation has launched the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program, an initiative designed to support early-stage ventures founded by young African leaders.
The Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program provides financial support, mentorship, training, and access to networks that help entrepreneurs transform innovative ideas into scalable businesses. Through this initiative, eligible alumni entrepreneurs receive funding of up to $15,000, alongside capacity-building support aimed at strengthening their ventures.
This programme targets alumni of recognised leadership and scholarship initiatives who are building businesses capable of creating impact within their communities.
Overview of the FAST Program
The Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program is an entrepreneurship support initiative created to assist young founders as they transition from innovative ideas to fully operational businesses.
The programme focuses on providing both financial capital and structured entrepreneurial support, enabling early-stage founders to refine their business models, validate their ideas, and expand their operations.
Through a collaborative implementation approach, the programme works with leading entrepreneurship support organisations across Africa to provide training, mentorship, and ecosystem access.
Key partners involved in delivering the programme include:
- Co-Creation Hub
- MDF Global
- Savannah Innovations Lab
- Inkomoko
- African Leadership Academy
These partners help deliver entrepreneurial training, mentoring, and capacity-building programmes designed to equip founders with the skills needed to grow sustainable ventures.
The programme particularly prioritises businesses that demonstrate the potential to create economic opportunities, employment, and social impact across Africa.
Funding Amount
Selected participants in the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program may receive funding of up to $15,000, depending on the stage and needs of their businesses.
The programme offers financial support through a two-stage funding model designed to help entrepreneurs move from idea validation to business growth.
1. Idea Phase Funding
Entrepreneurs who are still developing or refining their business ideas may receive funding support during the Idea Phase.
Typical funding support includes:
- Average funding: $3,000
- Maximum funding: $5,000
This funding stage is intended to support:
- Validation of business ideas
- Market research and feasibility studies
- Development of prototypes or minimum viable products
- Early customer testing and feedback
The goal of the Idea Phase is to help founders test the viability of their concepts before committing to full-scale operations.
2. Build Phase Funding
Entrepreneurs who demonstrate strong potential and readiness to expand their ventures may receive additional funding under the Build Phase.
Typical funding support includes:
- Average funding: $12,500
- Maximum funding: $15,000
This stage focuses on helping entrepreneurs:
- Develop and strengthen their business model
- Expand operations and reach new markets
- Improve production or service delivery systems
- Build sustainable revenue streams
Funding amounts are determined based on the specific needs, growth potential, and development stage of each venture. It is important to note that not all programme participants will automatically receive funding, as the final decision depends on evaluation results.
Additional Benefits of the FAST Program
Beyond financial support, the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program provides a range of non-financial benefits that support entrepreneurial growth.
Selected participants gain access to:
Business Development Training
Participants receive structured training designed to improve essential entrepreneurial skills such as:
- Business planning
- Financial management
- Marketing strategies
- Leadership and team management
- Growth and scaling strategies
These training sessions help founders build the knowledge required to manage and expand their ventures successfully.
Mentorship and Coaching
Entrepreneurs in the programme are connected with experienced mentors and industry professionals who provide guidance throughout the programme.
Mentors assist founders with:
- Strategic decision-making
- Market positioning
- Investment readiness
- Business growth strategies
This mentorship component ensures that entrepreneurs benefit from real-world insights and professional support.
Networking Opportunities
Participants also gain access to a broad ecosystem of entrepreneurs, advisors, and investors.
Networking opportunities enable founders to:
- Collaborate with fellow entrepreneurs
- Form strategic partnerships
- Access potential investors and partners
- Expand their professional networks
These connections often play a crucial role in helping startups grow beyond the early stages.
Workshops and Capacity-Building Programmes
The programme includes specialised workshops designed to strengthen the operational capacity of participating startups.
Workshop topics typically include:
- Financial planning and budgeting
- Marketing and brand development
- Product development
- Customer acquisition strategies
- Leadership development
These workshops provide entrepreneurs with practical tools and strategies they can apply directly to their businesses.
Who Can Apply
The Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program is specifically designed for alumni of recognised leadership and scholarship programmes.
Eligible alumni networks include:
- Young African Leaders Initiative (YALI)
- African Leadership Academy (ALA)
- Anzisha Prize alumni network
- Mastercard Foundation Scholars Program
Entrepreneurs who are alumni of these programmes are encouraged to apply if they are currently building or planning to launch a startup.
Eligibility Requirements
To be considered for the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program, applicants must meet the following criteria:
- Applicants must be 34 years old or younger.
- Applicants must be alumni of one of the eligible programmes.
- The applicant must own or co-own a for-profit business.
- The startup must be majority owned by the eligible alumnus.
- The business must operate in an eligible country within the programme’s focus regions.
The programme strongly encourages applications from:
- Women entrepreneurs
- Refugees and displaced persons
- Persons living with disabilities
This inclusive approach aims to ensure that entrepreneurship opportunities are accessible to diverse groups of young Africans.
Application Timeline
For the 2026 application cycle, the programme follows a structured timeline.
Key dates include:
- Application opening: February 2026
- Application deadline: Around 20 March 2026
Applicants are encouraged to submit their applications well before the deadline to allow sufficient time for review and corrections.
Why the FAST Program Matters
Access to early-stage funding remains one of the biggest barriers facing young entrepreneurs in Africa. Many promising business ideas fail to progress simply because founders lack access to capital, mentorship, and professional networks.
The Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program addresses this gap by combining financial investment with structured entrepreneurial support.
By empowering young founders with resources and guidance, the programme contributes to:
- Job creation
- Economic growth
- Innovation across African markets
- Community development through entrepreneurship
For alumni entrepreneurs looking to turn innovative ideas into sustainable ventures, this programme provides a valuable opportunity to access both funding and strategic support.
How to Apply
Interested applicants can learn more about the programme and submit their applications through the official programme pages.
Need Help Preparing Your Application?
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