The Federal Government on Friday said it is set to unveil the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant, which it described as a pioneering initiative designed to empower students in Nigeria’s tertiary institutions to build the next generation of scalable, job-creating ventures.

Also referred to as the “STEMM Up Grant”, the initiative will be formally unveiled in August by the Minister of Education, Dr. Maruf Alausa, according to a statement by the Director of Press of the Federal Ministry of Education, Folasade Boriowo.

The statement said the decision was made known during a stakeholder engagement session held in Abuja. The session convened Vice Chancellors, Provosts, Rectors, Student leaders, academic Staff, and development partners to chart a collective course for nurturing 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”, Alausa said.

The grant targets full-time undergraduate students in STEMM disciplines (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.

Speaking at the session, the Minister of State for Education, Professor Suwaiba 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’s design was informed by months of consultation with students, faculty, and institutional leaders.

She added, “The launch of S-VCG aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusive education, youth empowerment, and sustainable economic development.

“Participants at the event welcomed the STEMM Up Grant as a timely, strategic, and high-impact initiative that will drive youth innovation, tackle graduate unemployment, and position Nigeria as a hub for student-led entrepreneurship in Africa.

“The Ministry reaffirmed its commitment to ensuring an inclusive rollout and rigorous monitoring to guarantee that the initiative delivers a measurable and lasting impact across Nigeria’s higher education institutions.”