bloomshorts Empowering the Next Generation of Innovators
The Federal Government has announced the upcoming launch of the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (S-VCG), also known as the STEMM Up Grant. This pioneering program is designed to support students in Nigerian tertiary institutions in developing ventures that can scale and create jobs, aligning with the administration’s goals to stimulate innovation and economic transformation.
A Collaborative Effort for Greater Impact
Set to be officially unveiled in August by the Minister of Education, Tunji Alausa, the initiative is a collaborative effort involving the Bank of Industry (BOI) to ensure transparency, measure impact, and execute projects effectively. The grant targets undergraduate students in STEMM disciplines, particularly those in their 300-level and above, offering up to ₦50 million in startup funding alongside mentorship and business development support.
Strategic Investment in Nigeria’s Future
Minister of State for Education, Suwaiba Sa’id Ahmad, highlighted the grant as a strategic investment in Nigeria’s knowledge economy, emphasizing the program’s role in building a more competitive future through ground-up innovation. The initiative reflects President Bola Ahmed Tinubu’s Renewed Hope Agenda, focusing on inclusive education, youth empowerment, and sustainable economic development.
