Craig Fernandes, a 21-year-old entrepreneur based in Dubai, has garnered attention for his role as co-founder of SecureMyScholarship, a platform designed to provide students with guaranteed tuition waivers and partial scholarships.

The venture represents a significant leap from his earlier project, Lock&Stock, which sought to address the issue of digital distraction among students by incentivizing them to stay off their phones.

Fernandes’ journey commenced during his university years when he observed the pervasive use of smartphones during lectures.

This observation propelled him to research the addictive nature of phone use and engage in discussions with peers about possible solutions.

This led to the inception of Lock&Stock in September 2017, following his return from the University of Iowa.

The concept behind Lock&Stock involved students locking their phones to earn virtual currency, which they could later redeem for discounts and offers from partner brands.

Initially launched with 24 partner companies, Lock&Stock expanded significantly, accumulating over 80,000 users and 1,200 partner brands by the end of 2018.

Recognizing the opportunity to expand their initiative beyond merely reducing screen time, Fernandes and his team allowed students to use their earned virtual currency, or ‘keys’, for scholarship opportunities.

By 2020, Lock&Stock facilitated over $1 million in scholarship funding, reflecting an increase in the platform’s impact on reducing students’ financial burdens.

In response to the growing demand for accessible student financial aid, SecureMyScholarship was launched in October 2021, streamlining the process specifically for scholarships.

The pivot involved transitioning from running both platforms to focusing solely on SecureMyScholarship, which by 2023 had disbursed $6.3 million in scholarships worldwide.

Fernandes’ path to entrepreneurship included initial funding from familial sources, with his father providing the first round of investment.

However, securing external funding was a challenging process that involved nearly 100 discussions before attracting their first significant investor.

This investment was critical in propelling the startup forward.

In a competitive startup landscape, SecureMyScholarship differentiates itself by maintaining a customer-centric model, deeply examining the needs and desires of students to ensure that the platform resonates with its user base.

As of February 2025, the platform achieved a notable milestone of securing $10.4 million in scholarships.

Currently, SecureMyScholarship has a dedicated team of approximately 20 individuals operating across 13 cities globally, continuing its mission to enhance scholarship accessibility for students.