By Muhammad Mamman
The Federal Government has opened applications for the new Student Venture Capital Grant (S-VCG), a national programme designed to supercharge student-led innovation with equity-free funding of up to ₦50 million per venture.
In a statement issued on Monday and signed by Boriowo Folasade, Director of Press and Public Relations, the Federal Ministry of Education described the initiative as a central pillar of the administration’s Renewed Hope Agenda—aimed at nurturing a fresh generation of innovation-driven entrepreneurs within Nigeria’s tertiary institutions.
According to the Ministry, the S-VCG seeks to transform promising student ideas into commercially viable, high-impact enterprises, with particular focus on STEMM disciplines: Science, Technology, Engineering, Mathematics, and Medical Sciences.
Speaking at the launch, the Minister of Education, Chief Dr Tunji Alausa FAMedS, CON, highlighted the national importance of the scheme.
“The President has challenged us to look for the next Moonshot within our tertiary institutions,” he said. “We are not just looking for projects; we are scouting for future Nigerian unicorns whose roots will be planted right here in our universities and colleges. This is an equity-free seed investment in Nigeria’s future.”
At the core of the programme is a commitment to support student innovators through both funding and a comprehensive development ecosystem. Successful applicants will receive:
- Intensive incubation programmes
- Expert mentorship from seasoned entrepreneurs and industry leaders
- Full access to tools, platforms and resources required to build and scale their ventures
This structure, the Ministry noted, ensures that funded projects do not merely launch but also mature into market-ready enterprises capable of significant economic impact.
In a major technological boost, the Ministry confirmed a partnership with Google, which will integrate advanced AI into the application and assessment process. Custom-built “evaluation agents”, powered by Google’s Gemini AI, will help ensure a fair and efficient review of all submissions. Every applicant who completes the process will also receive a one-year free licence for Google Gemini Pro, along with premium learning resources to strengthen their technical and entrepreneurial skills.
The Ministry emphasised that the collaboration is designed to ensure Nigerian students begin their entrepreneurial journeys with “the very best tools available globally”, positioning the country as a rising hub for world-class innovation.
Applications are now open to all eligible students enrolled in accredited Nigerian tertiary institutions.
Proposals must demonstrate scalability, market relevance and clear potential to address pressing national or global challenges.
The official application portal is: svcg.education.gov.ng.
