The Mastercard Foundation FAST Program is excited to announce the launch of the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) program.
The Mastercard Foundation FAST program will support and empower the next generation of entrepreneurs by providing up to $15,000 in support for each venture.
This post will highlight the details, requirements, benefits, and the method of application for interested applicants.
Mastercard Foundation FAST Program Summary
- Host: Mastercard Foundation
- Category: Competitions | Training
- Eligible Countries: African Countries
- Reward: $15,000 Grant | Access to Funding | Business Development Training | Mentorship
- No IELTS Required
- Deadline: September 15, 2024
- Scholarship Alerts: To receive Scholarship Alerts on WhatsApp, Click HERE
Mastercard Foundation FAST program Details:
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.
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.
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Eligibility Requirements for Mastercard Fund for Alumni Startups in Transition Program
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 of Mastercard Foundation FAST Program 2024
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 for Mastercard Foundation FAST Program 2024
- 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 for Mastercard Foundation FAST Program 2024 (Step by Step)
To apply for the 2024 Mastercard Foundation FAST Program, interested and qualified applicants should use the link below to submit their application.
Deadline: September 15, 2024
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