The Mastercard Foundation is excited to announce on their X(formerly called Twitter) Platform that applications for the third round of the FAST program are now open! FAST is design to empower the next generation of entrepreneurs by offering enterprise support, business development training, and access to a network of mentors and like-minded innovators.
What is FAST?
FAST is a collaborative initiative by the Mastercard Foundation in partnership with organizations like CCHub Nigeria, MDF Global, Concree, Scale Up, Savannah Innovations Lab, the Center for Enterprising Organizations, Inkomoko, and the African Leadership Academy (ALA).
Who Can Apply?
FAST is open to aspiring entrepreneurs or those in the early stages of building their businesses. Also, eligible applicants include alumni from the following programs:
- Young African Leaders Initiative (YALI)
- African Leadership Academy (ALA)
- Anzisha Prize
- Mastercard Foundation Scholars Program
Note: If you’re about to graduate, you can apply for provisional acceptance. However, Once you complete your studies, you’ll be eligible to join the next cohort.
Also, the program and application process are available in English, French, Portuguese, and Arabic.
A Commitment to Inclusivity
FAST is dedicated to fostering inclusive growth. The program encourages applications from young women, refugees, displaced persons, and individuals living with disabilities.
Financial Support
Funding is tailor to the needs of each entrepreneur and their business. The amount provided depends on the stage of the enterprise’s development. Moreover, not all participants will receive funding, as decisions made on a case-by-case basis.
Also, FAST offers support in two key stages:
- Idea Phase: Receive an average of $3,000 (up to $5,000) to develop and refine your business idea.
- Build Phase: Access an average of $12,500 (up to $15,000) to turn your idea into a sustainable business model.
Program Benefits
Participants will gain:
- Access to funding tailored to their business needs.
- Business development training to strengthen their entrepreneurial skills.
- A supportive community of mentors and fellow entrepreneurs.
Apply now to take the next step in your entrepreneurial journey with the FAST program!
