2024 Mastercard Foundation FAST Program For Africans
We are thrilled to announce the launch of the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) program, designed to support and empower the next generation of entrepreneurs. Through this innovative program, we will provide up to $15,000 in funding for each selected venture, helping to drive growth, innovation, and success.
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 is a registered Canadian charity and one of the largest foundations in the world. It works with visionary organizations to advance education and financial inclusion to enable young people in Africa and Indigenous youth in Canada to access dignified and fulfilling work.
Join any of these WhatsApp Groups to receive more scholarships and other opportunities
For chats, help and support, Join our Telegram Community.
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.
Eligibility Requirements
To be considered for the Mastercard Fund for Alumni Startups in Transition Program, you must:
- own a business
- 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).
Benefits
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.
Participants will gain access to funding, business development training, and a supportive network of like-minded entrepreneurs and mentors.
Selection Procedure
- 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.
How to Apply
To apply for the 2024 Mastercard Foundation FAST Program, interested and qualified applicants should use the button below to submit their application.
Deadline: September 15, 2024
Visit the Official Page at to get more info.
