Introducing the Mastercard Foundation Fund Programme for Alumni Start-ups in Transition (FAST)
The Mastercard Foundation, in collaboration with several partners including CCHub Nigeria, MDF Global, Concree, Scale up, Savannah Innovations Lab, Center for Enterprising Organisations, Inkomoko and Africa Leadership Academy (ALA), is pleased to announce the launch of the Mastercard Foundation Fund Programme for Alumni Start-ups in Transition (FAST).
Overview and eligibility
The Mastercard Foundation's FAST programme aims to support and empower the next generation of entrepreneurs, offering up to US$ 15,000 in support for each venture. This programme is open to aspiring entrepreneurs or individuals in the early stages of their entrepreneurial journey.
The Mastercard Foundation Fund for Alumni Start-ups in Transition is awarded to companies (proposed or established) that are majority-owned by alumni of at least one of the following programmes:
- Mastercard Foundation Scholarship Programme
- African Leadership Academy (ALA)
- Start an award
- Young African Leaders Initiative (YALI)
Candidates must be able to receive coaching and other programme activities in one of the following languages: Arabic, English, French, Portuguese or Spanish.
Benefits of the programme
Participants in the Mastercard Foundation FAST programme will have access to
- funding,
- business development training,
- and a support network of like-minded entrepreneurs and mentors.
The programme is structured to offer support in two main stages to help entrepreneurs at different points in their journey:
- Idea phase: Up to US$ 5,000 to help develop and refine initial ideas.
- Construction phase: US$ 10,000 to US$ 15,000 to turn ideas into viable business models.
Registration process
Interested parties can register via official programme website .The deadline for all entries will be 4pm GMT on Sunday 15 September.
About the Mastercard Foundation
The Mastercard Foundation is a registered Canadian charity and one of the largest foundations in the world. It works with visionary organisations to promote education and financial inclusion, enabling young people in Africa and indigenous youth in Canada to have access to decent and rewarding work. Founded in 2006 through the generosity of Mastercard, the Foundation operates independently of the company and has offices in Toronto, Kigali, Accra, Nairobi, Kampala, Lagos, Dakar and Addis Ababa. The Foundation's policies, operations and programme decisions are determined by its Board of Directors and leadership.
