The Federal Government announced on Friday its plan to introduce the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant, a groundbreaking initiative aimed at empowering tertiary students in Nigeria to develop scalable, job-generating ventures.
Popularly known as the “STEMM Up Grant,” the programme is scheduled for official launch in August by the Minister of Education, Dr. Maruf Alausa, according to a statement from the Director of Press at the Federal Ministry of Education, Folasade Boriowo.
The announcement was made during a stakeholder engagement session in Abuja, which brought together vice-chancellors, rectors, provosts, student leaders, academic staff, and development partners to align efforts in supporting student-driven innovation.
“This is more than just a grant,” said Dr. Alausa. “The S-VCG is a launchpad for bold, young innovators who will drive Nigeria’s industrial and technological future. We’re equipping students to dream big, develop solutions, and scale them—whether in tech, healthcare, agriculture, or green energy.”
The grant is targeted at full-time undergraduate students in STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences, who are in their 300-level or higher. Each qualifying student-led project could receive startup funding of up to ₦50 million, alongside mentorship, incubation support, and business development services.
The initiative will be executed in partnership with the Bank of Industry to ensure transparency, proper impact assessment, and efficient project implementation.
