Across Africa, a new generation of leaders is emerging. They are innovative, resilient, and solution driven. Rather than waiting for employment opportunities, they are building enterprises that address pressing social and economic challenges.
However, one persistent barrier continues to limit many promising ventures: access to structured funding and strategic support.
The Mastercard Foundation Fund for Alumni Start ups in Transition FAST Program was established to address this gap. It is a targeted initiative designed to help young leaders transition from education and leadership development into sustainable entrepreneurship.
For eligible alumni, the FAST Program represents a significant opportunity to build, refine, and scale impactful enterprises.
Overview of the FAST Program
The FAST Program is an initiative of the Mastercard Foundation aimed at supporting alumni of selected leadership and scholarship programs as they transition into entrepreneurship.
The program provides more than financial assistance. It combines funding with business development training, mentorship, and access to a strong entrepreneurial ecosystem. This integrated approach ensures that participants receive both capital and capacity building support.
FAST focuses on early stage founders who are either refining a business idea or beginning to scale an existing venture. The objective is to increase the likelihood of sustainable business growth and long term impact.
Eligibility Criteria
The FAST Program is exclusively available to alumni of the following programs:
- Young African Leaders Initiative
- African Leadership Academy
- Anzisha Prize
- Mastercard Foundation Scholars Program
Applicants who are nearing graduation may receive provisional acceptance and join a subsequent cohort upon completion of their studies.
This eligibility structure ensures that participants already possess foundational leadership training and are prepared to build on that experience through entrepreneurship.
Funding Structure
The FAST Program adopts a two phase funding model tailored to the developmental stage of each enterprise.
A. Idea Phase
Up to $5,000
This phase supports entrepreneurs who are in the early stages of refining and validating their business ideas. Funding may be used for market research, prototype development, product testing, and validation of business models.
The primary objective at this stage is to transform a promising concept into a validated and viable opportunity.
Build Phase
Up to $15,000
The Build Phase is designed for entrepreneurs who have demonstrated proof of concept and are ready to scale. Funding may support product development, operational systems, team expansion, marketing, and customer acquisition.
At this stage, the focus shifts from experimentation to structured growth and sustainability.
Funding amounts are determined based on individual enterprise needs and stage of development. Participation in the program does not automatically guarantee financial disbursement, as each case is assessed independently.
Comprehensive Entrepreneurial Support
A distinguishing feature of the FAST Program is its ecosystem based approach. In addition to funding, participants receive:
Business development training
Structured mentorship from experienced entrepreneurs and industry experts
Access to peer learning networks
Strategic partnerships and ecosystem connections
The program is delivered in collaboration with reputable organizations including Co-Creation Hub, Inkomoko, and Africa Leadership Academy.
This collaborative model strengthens enterprise survival rates and enhances long term impact by ensuring that founders are supported beyond financial assistance.
Strategic Focus: Education and Transitions
The FAST Program aligns with the Foundation’s Education and Transitions focus area. This strategic pillar recognizes that completing education or leadership training is only one step in a broader journey.
The critical challenge lies in transitioning successfully into meaningful employment or entrepreneurship. Many young leaders possess strong ideas but lack the capital, networks, and structured guidance necessary to execute them effectively.
FAST bridges this transition by providing the tools and resources required to move from learning to enterprise creation and growth.
Commitment to Inclusive Growth
The Mastercard Foundation places strong emphasis on inclusion. The FAST Program actively encourages participation from:
- Young women entrepreneurs
- Refugees and displaced persons
- Young people living with disabilities
By expanding access to opportunity, the program contributes to more inclusive and equitable economic development across the continent.
Relevance to Africa’s Economic Development
Africa has the youngest population globally, with millions of young people entering the workforce annually. Traditional employment systems alone cannot absorb this growing population.
Entrepreneurship is therefore not merely an alternative pathway; it is a strategic necessity for sustainable economic transformation.
However, early stage entrepreneurs often encounter systemic barriers including limited access to finance, weak business support structures, and insufficient mentorship.
The FAST Program addresses these constraints through a structured, phased, and partnership driven approach. By investing in proven leadership alumni, the program increases the probability of building scalable enterprises that generate employment and drive innovation.
Application Process
Applications for the 2026 cohort opened on February 20. The process is conducted online and is available in English, French, Portuguese, and Arabic.
Applicants are expected to clearly articulate:
- The problem their business addresses
- Target market and customer segment
- Revenue model
- Growth strategy
- Projected impact and job creation potential
Successful applications demonstrate clarity, feasibility, market validation, and strong leadership capacity.
Strengthening Your Application
To enhance competitiveness, applicants should ensure that their submissions:
- Present a well defined and specific problem statement
- Provide evidence of market demand or traction
- Outline realistic and data informed financial projections
- Demonstrate operational readiness
- Highlight measurable social or economic impact
The Foundation seeks entrepreneurs who are committed to building sustainable enterprises with long term growth potential.
Conclusion
The Mastercard Foundation FAST Program represents a strategic investment in Africa’s entrepreneurial future. It reflects confidence in the capacity of young leaders to drive innovation, create employment, and contribute to inclusive economic development.
By combining funding with mentorship, training, and ecosystem support, the program provides a comprehensive platform for enterprise growth.
For eligible alumni, FAST is more than a funding opportunity. It is a structured pathway to transform ideas into sustainable ventures and to convert leadership potential into measurable impact.
Entrepreneurs who meet the eligibility criteria are encouraged to apply and position their ventures for growth, scalability, and long term success.
.pdf_20260118_145709_0000.png)
