Each year, about 20 to 30 young people are selected out of hundreds of applications through a rigorous selection process in different rounds. The requirements that the Fund sets for candidates are very high; several diplomas (at least a
cum laude Master's degree) or work placements abroad are recommended, while the candidate must be able to speak two or three languages fluently. Candidates must be under 30 years at the time of the application and have Belgian nationality. Since candidates also need to have at least 3 years of working experience the program is not a
traineeship and can be seen as an alternative for an
MBA. During the application process attention is also paid to character, motivation, general knowledge, and knowledge of Belgian foreign trade. The candidates are chosen by a selection committee made up of
alumni of the fund and experts in
international trade and
human resources. The Prince Albert Fund offers a 12-month scholarship. The grant includes one month of preparation in Belgium and 11 months of work experience abroad (outside Western Europe). Before their departure, the fellows take part in an intercultural training program developed especially for the Fund. The Prince Albert Fund has a total of 464 alumni. Some 200 Belgian companies (ranging from small start-ups to well-established businesses) have enabled these young people to experience part of their commercial development abroad. Some realised projects are; at the
BELvue Museum. The best project is awarded the
McKinsey award for excellence. ==History==