The Mastercard Foundation Fund for Alumni Start-ups in Transition program has opened its second application drive. Known as FAST, the initiative is designed to help young African entrepreneurs move from ideas to viable businesses. Applications opened on February 20, 2026.
The program targets alumni of the Young African Leaders Initiative, the African Leadership Academy, the Anzisha Prize and the Mastercard Foundation Scholars Program. It offers funding, business development training and access to a strong network of mentors and peers. The goal is clear: support young founders at a critical stage and increase the number of sustainable African-owned enterprises.
FAST comes at a time when many young graduates have ideas but lack early capital and structured guidance. By combining funding with technical support, the program aims to close that gap and give promising ventures a stronger chance to survive and grow.
A Structured Path from Idea to Enterprise
FAST is a partnership between the Mastercard Foundation and a group of experienced enterprise support organizations. These include CcHub Nigeria, MDF Global, Concree, Scale Up, Savannah Innovations Lab, Center for Enterprising Organizations, Inkomoko and the African Leadership Academy. Together, these partners bring experience in training, mentorship and enterprise growth across different African markets.
The program is open to aspiring entrepreneurs and those in the early stages of building a business. Alumni from the Young African Leaders Initiative, the Anzisha Prize and the Mastercard Foundation Scholars Program are eligible to apply. Applicants who are close to completing their studies can receive provisional acceptance and join a later cohort once they graduate.
Financial support is provided in two stages. In the Idea Phase, participants can receive an average of US$3,000, with funding of up to US$5,000 to help refine and test early concepts. In the Build Phase, selected entrepreneurs can receive an average of US$12,500, with funding of up to US$15,000 to develop a viable business model and prepare for market growth.
Funding amounts are determined case by case. They are based on the needs of the entrepreneur and the stage of the enterprise. Not all participants will receive financial support but all will benefit from training and access to networks.
Beyond capital, participants gain structured business development support. This includes practical training, mentorship and connection to a community of founders who face similar challenges. This network is expected to strengthen collaboration, peer learning and accountability.
Expanding Opportunity and Inclusion
FAST places strong emphasis on inclusion. The program seeks to reach young women, refugees and displaced persons and young people living with disabilities. By doing so, it aims to widen access to entrepreneurship support and ensure that talent is not overlooked because of background or circumstance.
This inclusive approach is likely to have a broader economic impact. Supporting diverse founders increases the range of businesses being built across sectors and communities. It also contributes to job creation and local economic activity, particularly in underserved areas.
The second application drive signals continued investment in alumni who have already demonstrated leadership potential. By focusing on this group, FAST builds on existing networks and prior training. Alumni from these programs often return to their communities with strong ideas and a desire to create change. With structured funding and guidance, they are better positioned to turn that ambition into sustainable enterprises.
As applications open, the focus will be on identifying entrepreneurs with clear ideas and commitment to growth. The combination of financial support, technical training and mentorship creates a practical pathway from concept to operational business.
For many young African founders, early stage support determines whether an idea fades or grows. Through its second call, FAST is positioning itself as a bridge between promise and performance. If implemented effectively, the program could strengthen a new generation of African entrepreneurs and contribute to more resilient local economies across the continent.
