In a bold move to stimulate innovation and entrepreneurship among young Nigerians, the Federal Government has announced the STEMM Up Grant, a new funding initiative that will offer up to ₦50 million in startup capital to selected undergraduate students in science and technology disciplines.
The initiative formally known as the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (SVCG) is set to be officially unveiled on Wednesday, August 28, 2025, according to a statement released Friday by Dr. Maruf Tunji Alausa, Minister of Education, via his verified X (formerly Twitter) account.
“As Minister of Education, I am proud to announce that the Federal Government is set to unveil the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant a bold and forward-thinking initiative designed to empower students in Nigeria’s tertiary institutions to build scalable, job-creating ventures,” Alausa wrote.
The STEMM Up Grant will target full-time undergraduate students in their 300-level and above, enrolled in Nigerian tertiary institutions and pursuing degrees in STEMM fields. The programme is designed to support student-led innovation, with each selected project eligible for up to ₦50 million in venture capital along with mentorship, incubation support, and access to business development resources.
A Strategic Investment in Nigeria’s Knowledge Economy
The initiative is a joint effort between the Federal Ministry of Education and the Bank of Industry (BoI), which will help implement the programme with a focus on transparency, accountability, and impact tracking.
Speaking during a high-level stakeholder engagement in Abuja, Professor Suwaiba Sa’id Ahmad, Minister of State for Education, described the SVCG as a strategic long-term investment aimed at reducing graduate unemployment and strengthening Nigeria’s global standing in scientific innovation.
“This programme reflects our commitment to building a knowledge economy. It was shaped through wide-ranging consultations with university administrators, policy experts, and the students themselves,” she noted.
Attendees at the Abuja engagement included Vice Chancellors, Rectors, Provosts, student leaders, and development partners, who discussed modalities for institutional collaboration and strategies to foster a thriving innovation ecosystem across tertiary institutions.
What Makes the STEMM Up Grant Unique?
Unlike many student support schemes in the past, the STEMM Up Grant offers more than just funding. Selected participants will gain access to:
- Top-tier business mentorship and industry linkages
- Startup incubation and acceleration services
- Ongoing technical and strategic guidance from public and private sector stakeholders
- Monitoring and Evaluation (M&E) frameworks to ensure transparency and success
This initiative arrives at a time when Nigeria is working to position itself as Africa’s next innovation hub, leveraging its large youth population and growing talent pool in the tech, health, and engineering sectors.
According to World Bank data, Nigeria produces over 500,000 graduates annually, many of whom struggle to find employment due to a mismatch between their academic training and the needs of the job market. By channeling funds directly into student-led ventures, the government hopes to bridge that gap, foster job creation, and unlock the entrepreneurial potential of Nigeria’s brightest minds.
Economic analyst Dr. Tolu Ajayi, speaking to BusinessDay, hailed the move as “a long-overdue signal that Nigeria is finally taking its youth innovation economy seriously.”
“Providing ₦50 million to capable students is not just about money it’s about belief in homegrown solutions. With the right support, these undergraduates could create the next Paystack or 54gene,” Ajayi said.
What’s Next?
The Ministry of Education has promised a nationwide awareness campaign ahead of the launch and urged tertiary institutions to prepare for the application portal opening in September. Specific eligibility criteria and submission guidelines will be released in the coming weeks via the Ministry’s official channels.
For now, the STEMM Up Grant stands as one of the most ambitious student entrepreneurship programmes ever introduced by the Nigerian government a signal of intent to invest not only in infrastructure, but in the next generation of innovators.
