The Mastercard Foundation has opened the second application cycle for its Fund for Alumni Start-ups in Transition (FAST) programme, an initiative designed to support young African entrepreneurs in transforming early-stage ideas into sustainable businesses.
FAST targets alumni from leadership and entrepreneurship programmes including the Mastercard Foundation Scholars Program, African Leadership Academy (ALA), the Anzisha Prize, and the Young African Leaders Initiative (YALI). The programme combines financial support, business development training and mentorship networks aimed at helping young founders move from concept to operational enterprise.
Supporting Early-Stage Enterprise Development
Across Africa, many young graduates have strong business ideas but face barriers related to early capital, mentorship, and structured entrepreneurial support. FAST addresses this gap by pairing funding with practical enterprise development tools aimed at strengthening long-term business sustainability.
The programme is implemented in partnership with enterprise support organisations, including CcHub Nigeria, MDF Global, Concree, Scale Up, Savannah Innovations Lab, the Center for Enterprising Organizations, Inkomoko, and the African Leadership Academy. These partners provide training, mentorship, and growth support across multiple African markets.
Funding structure
Financial support is delivered in two phases:
Idea Phase: Average funding of $3,000, with grants of up to $5,000 to refine and test early-stage concepts.
Build Phase: Average funding of $12,500, with grants of up to $15,000 to support business development and market readiness.
Funding allocations are determined on a case-by-case basis according to the needs and development stage of each enterprise. While financial support is not guaranteed for all participants, selected applicants benefit from structured training, coaching, and access to a continent-wide entrepreneurial network.
Eligibility and inclusion
The FAST programme is open to proposed or established businesses that are majority-owned by alumni of eligible programmes. Applicants must provide documentation confirming alumni status and be able to participate in programme activities conducted in Arabic, English, French, Portuguese, or Spanish.
The initiative places strong emphasis on inclusion and actively encourages applications from women entrepreneurs, refugees and forcibly displaced persons, and persons living with disabilities.
Application information
Application deadline: 20 March 2026 (16:00 GMT)
For full eligibility requirements, verification documentation, and submission guidelines, applicants are encouraged to consult the official FAST application portal.
Enquiries: FAST@scholarsbaobab.org
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