The Nigerian Government is set to unveil the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG), a pioneering initiative aimed at empowering tertiary students to build scalable, job-creating ventures.
Also known as the “STEMM Up Grant”, the programme will be formally launched in August by the Minister of Education, Maruf Tunji Alausa.
Director of Press at the Ministry, Boriowo Folashade, said the Minister disclosed the plan during a stakeholder engagement session held in Abuja. The forum brought together Vice Chancellors, Provosts, Rectors, student leaders, academic staff, and development partners to map a path for student-led innovation.
“S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation. We are giving our students the tools to dream, build, and scale solutions that solve real-world problems — from tech and medicine to agriculture and green energy,” Dr. Alausa stated.
He said the initiative targets full-time undergraduate students in STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences—specifically those in their 300 level and above.
“Each selected student-led project will be eligible to receive startup funding of up to ₦50 million, along with access to mentorship, incubation services, and business development support. The initiative will be implemented in partnership with the Bank of Industry to ensure financial transparency, impact measurement, and effective project execution,” he added.
Speaking at the session, Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the grant as a strategic investment in Nigeria’s knowledge economy.
“We’re building a stronger, more competitive future by supporting innovation from the ground up,” she said, adding that the programme design followed months of consultation with students, faculty, and institutional leaders.
She said the S-VCG launch aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusive education, youth empowerment, and sustainable economic development.
Participants at the session welcomed the STEMM Up Grant as a timely, high-impact initiative that could drive youth innovation, reduce graduate unemployment, and position Nigeria as a hub for student-led entrepreneurship in Africa.
The Ministry reaffirmed its commitment to an inclusive rollout and robust monitoring to ensure that the initiative delivers measurable and lasting impact across Nigeria’s higher education institutions.
PIAK
