The Mastercard Foundation has opened applications for the Fund for Alumni Start-ups in Transition (FAST) Program, an initiative aimed at supporting young African entrepreneurs with funding, mentorship, and enterprise development resources.
The FAST Program is designed to help youth-led businesses grow while supporting young innovators transitioning from education into sustainable employment or entrepreneurship. Through financial assistance, training, and professional guidance, the initiative seeks to help emerging founders turn their ideas into viable enterprises.
Applications for the 2026 cohort opened on February 20, 2026, targeting aspiring entrepreneurs and early-stage founders across Africa.
The program is implemented in collaboration with several innovation and entrepreneurship organizations across the continent. Key partners include CcHub Nigeria, MDF Global, Concree, Savannah Innovations Lab, Center for Enterprising Organizations, Inkomoko, and African Leadership Academy. These partners provide mentorship, training, and technical support to entrepreneurs participating in the initiative.
The program specifically targets alumni from leadership and entrepreneurship initiatives such as the Young African Leaders Initiative, African Leadership Academy, the Anzisha Prize, and the Mastercard Foundation Scholars Program.
Participants may receive funding depending on the stage of their business. Entrepreneurs in the Idea Phase, who are still validating and refining their business concepts, can receive average funding of about $3,000, with a maximum of $5,000 to support activities such as market research and product development.
Meanwhile, businesses in the Build Phase can receive larger support, with an average funding of $12,500 and a maximum of $15,000 to help scale operations, develop business models, and expand into new markets.
Beyond financial support, the FAST Program offers business development training, mentorship from experienced entrepreneurs, networking opportunities, and access to innovation ecosystems across Africa.
The initiative also prioritizes inclusive participation, encouraging applications from women entrepreneurs, refugees, people with disabilities, and other underrepresented groups.
Through the program, the Mastercard Foundation aims to create stronger entrepreneurial ecosystems while empowering Africa’s young innovators to build sustainable businesses and contribute to economic growth across the continent. APPLY
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