Applications are now open for the Mastercard Foundation FAST Fund for Alumni Start-ups in Transition (FAST), a program designed to support emerging and established businesses led by alumni of key leadership and entrepreneurship initiatives across Africa. The FAST program helps founders navigate the transition from idea to growth phase by offering financial support, coaching, and advisory assistance.

The deadline for all applications is 16:00 GMT on Friday, 20 March.

About the Mastercard Foundation FAST Fund

The Mastercard Foundation FAST Fund supports businesses that are majority-owned by alumni of one or more of the following programs:

Mastercard Foundation Scholars Program
African Leadership Academy (ALA)
Anzisha Prize
Young African Leaders Initiative (YALI)

The program aims to strengthen alumni entrepreneurship ecosystems by providing targeted support for new or existing ventures navigating early-stage challenges. Applicants may apply in Arabic, English, French, Portuguese, or Spanish, ensuring broad accessibility.

During this cycle, FAST funding is not available to founders over the age of 34, as the program focuses on young entrepreneurs actively shaping economic opportunities within their countries.

Who Can Apply

To be eligible, applicants must:

Own a for-profit business (nonprofits are not eligible).
Be majority-owned by alumni from at least one of the four eligible programs.
Reside in or operate a business in one of the qualifying countries listed in the application form.
Be able to participate in coaching and activities in an approved program language.
Provide documentation confirming alumni status.

Alumni of the Mastercard Foundation Scholars Program must submit a student ID from their institution to verify their status. Alumni from ALA, YALI, or the Anzisha Prize may provide the FAST Verification Letter or alternative documentation such as a certificate of completion.
(Your uploaded verification letter template will be used for this purpose.)

Women entrepreneurs, refugees or forcibly displaced applicants, and persons with disabilities are strongly encouraged to apply.

What the FAST Program Offers

The FAST Fund is designed to support small enterprises at critical transition points. Successful applicants gain access to:

Financial support to help stabilize or grow their business
Tailored coaching delivered in their preferred language
Business development guidance from experienced mentors
Supportive alumni networks and professional resources

The program emphasizes sustainability, inclusion, and leadership, helping founders create ventures that generate income, opportunities, and community impact.

Application Requirements

Applicants should be prepared to submit:

Personal and business information
Proof of alumni status
Details about the proposed or existing business
Information about the business model, target audience, and market need
Supporting documentation, such as the FAST Verification Letter template you uploaded

The application requires approximately 15–30 minutes to complete.

Applicants who are based in Rwanda or plan to establish their business in Rwanda must apply through the FAST program’s Rwanda-based partner. All other applicants should complete the global form.

Important Deadline

All applications must be submitted by 16:00 GMT on Friday, 20 March.

Late applications will not be accepted, and only shortlisted candidates will be contacted with next steps.

A Valuable Opportunity for Young African Entrepreneurs

The Mastercard Foundation FAST Fund offers an important opportunity for young changemakers building impactful businesses across Africa. By supporting alumni-led ventures during key moments of transition, the program strengthens local entrepreneurship ecosystems and empowers founders to scale solutions within their communities.

Whether your business is newly formed or already in operation, the FAST program provides the structure, mentorship, and validation needed to move forward confidently.

Application can be accessed from here.

To know more about such opportunities, click here.

Mastercard Foundation FAST Fund 2026: Support for Alumni-Led Start-ups

Job Description