I don't think it excludes them and in the text it says, " The NASA Startup Studio is intentionally designed to be completed alongside a full-time job or MBA program, as participants need to commit an average of 15 hours per week."

So certainly at least some students can participate.

Hi there! As of now, we typically don't accept undergraduate students. However, students that are in post-secondary degrees can participate. We've had plenty of current MBA and grad school students participate

Joining a startup that's involved should work