Acknowledge authenticity of scholarship? (5)

I believe the answer is:
grant
This clue could be a double definition.
'acknowledge authenticity' is the first definition.
'grant' can be an answer for 'acknowledge' (I've seen this in another clue). I am not sure about the 'authenticity' bit.
'scholarship?' is the second definition.
(I've seen this in another clue)
'of' is the link.
Can you help me to learn more?
(Other definitions for grant that I've seen before include "Formally give (a right)" , "Present" , "Agree to - bursary" , "Give or allow as a privilege" , "former president" .)
