The Federal Government has officially opened the application portal for the Student Venture Capital Grant (S-VCG), a landmark initiative designed to turn student innovations into commercially viable startups.
The programme represents a key component of the Renewed Hope Agenda, targeting the growth of a new generation of Nigerian innovators and future industry leaders.
Announcing the launch, the Minister of Education, Dr. Olatunji Alausa, highlighted the strategic national importance of the scheme.
“The President has challenged us to look for the next Moonshot within our tertiary institutions. We are not just looking for projects; we are scouting for future Nigerian Unicorns,” he said. “This is an equity-free seed investment in Nigeria’s future.”
The S-VCG aims to fuel student-driven solutions to real-world problems, providing up to ₦50 million in equity-free funding for innovations in STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences.
According to the Minister, beyond funding, successful applicants would be integrated into a robust support ecosystem that would offer intensive incubation programmes, mentorship from top entrepreneurs and industry experts, as well as access to tools, platforms, and technical resources needed to build and scale their ventures
“This structure ensures that selected startups are not only funded but guided toward becoming market-ready enterprises.”
“To strengthen the programme’s technological edge, the Ministry of Education has partnered with Google to integrate advanced AI into the application and evaluation process. Using Gemini-powered evaluation agents, submissions will be reviewed more fairly, intelligently, and efficiently.”
“Additionally, every applicant who successfully completes their submission will receive a one-year free Google Gemini Pro license, along with premium learning resources to support their entrepreneurial growth.”
“The Ministry encourages all eligible Nigerian students in accredited tertiary institutions to take advantage of this unprecedented opportunity to transform their ideas into scalable, impactful ventures,” the minister concluded.
