Mastercard Foundation Launches FAST Program: Empowering African Start-ups with Up to $15,000 Funding

Digital Doctors

Sun, 08 Jun 2025

The Mastercard Foundation, in collaboration with leading organizations including CCHub Nigeria, MDF Global, Concree, Scale Up, Savannah Innovations Lab, the Center for Enterprising Organizations, Inkomoko, and the African Leadership Academy (ALA), has just announced the launch of a transformative new initiative: the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) program.

This groundbreaking initiative is set to provide a significant boost to the next wave of African entrepreneurs. FAST will offer up to $15,000 in financial support to start-ups, empowering early-stage ventures and fostering innovation across the continent. The program is tailored for entrepreneurs at the beginning of their journey, particularly alumni from prominent initiatives such as the Young African Leaders Initiative (YALI), the African Leadership Academy (ALA), the Anzisha Prize, and the Mastercard Foundation Scholars Program.

Funding, Training, and Mentorship: A Comprehensive Support System

The FAST program is designed to offer more than just financial aid. Participants will benefit from an all-encompassing support system that includes funding, business development training, and a dynamic network of fellow entrepreneurs and experienced mentors. This integrated approach aims to nurture promising ventures and equip them with the tools needed for sustainable growth.

The program offers support in two key phases:

• Idea Phase: Entrepreneurs in the initial idea development stage can receive up to $5,000 to refine their concepts and lay the groundwork for their business.
• Build Phase: Start-ups ready to scale will have access to between $10,000 and $15,000 to transform their ideas into viable, fully operational business models.

A Unique Opportunity for Aspiring Entrepreneurs

Starting August 12, 2024, alumni from the associated programs are encouraged to apply for this exciting opportunity. Whether in the early ideation phase or ready to scale, this program offers invaluable resources and support to propel entrepreneurial success. For more information and to apply, visit: Mastercard FAST Application.

About the Mastercard Foundation

Established in 2006 with a mission to advance education and financial inclusion, the Mastercard Foundation is one of the largest foundations in the world. It partners with visionary organizations to create access to dignified work for young people across Africa and Indigenous youth in Canada. Although initially funded by Mastercard upon its IPO, the foundation operates independently with offices across major African cities and Toronto.

This latest initiative marks another chapter in the Mastercard Foundation’s commitment to empowering young entrepreneurs and driving innovation on the continent.

Stay tuned for more updates on how the FAST program will shape the future of African entrepreneurship.