Applications for the 2024 Martingale Scholarships are now open. APPLY NOW

About us

We believe that family income should not be a barrier to the pursuit of excellence.

Our mission

Postgraduate degrees are increasingly associated with academic and career advancement. However, student loans often fall short of tuition fees, never mind the cost of living. This puts postgraduate study out of reach for many who cannot fund their studies through financial support from their family.

The Martingale Postgraduate Scholarship is our flagship programme that supports passionate and talented students facing financial barriers to pursue master’s and PhDs and excel in them.

Launched in 2023, the Martingale Foundation is currently incubated by Purposeful Ventures, a not-for-profit with a strong track record of supporting innovation in education and initiatives for young people. We are proudly supported by world leading algorithmic trading company XTX Markets, whose generosity has helped make our scholarships possible.

What is a ‘martingale’?

A martingale is a mathematical concept, our founding subject of interest at Martingale. In probability theory, a martingale is a random process where the expectation of future values is equal to the current value, regardless of all prior values.

We have named the Martingale Foundation after this concept as we believe that students who have excelled in their undergraduate studies should be supported to excel at postgraduate level, irrespective of family income.

‘It’s quite clear that everyone at Martingale wants to give you the opportunity to do your best in the application process as it was very straightforward and well communicated.’


The Martingale Foundation funds and supports a new generation of postgraduates to become STEM leaders.

Through fully-funded scholarships and access to a community of pioneering leaders, we enable students to pursue postgraduate study in STEM subjects at some of the leading research universities in the UK.

What does a Martingale Scholarship include?

A fully-funded scholarship to pursue a master’s degree at one of our partner universities

All tuition fees and research expenses covered, including a tax-free stipend for living costs

Tailored support to apply for a Martingale PhD scholarship

Access to the Martingale Development Programme, including leadership training and access to top academic and industry professionals

Membership of a pioneering community of future STEM leaders

Download the Martingale Scholarship information poster here.


Cassandra Hugill

Chief Executive

Matt Garraghan

Programme Manager

Chloe Slevin

Communications Manager


The Martingale Foundation is here to support candidates in any way you need. We also welcome enquiries from universities, whether about current recruitment activities or future partnership opportunities. If you have a question or message for us, please reach out through the form.

Have questions about applying? Sign up to our online webinar, taking place on the 19th October at 5pm. We will talk through the application process and answer any questions you may have.

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