The Federal Government has launched the application portal for the Student Venture Capital Grant (S-VCG), a programme aimed at funding student-led ventures with up to N50 million in equity-free grants.
This was disclosed in a statement by Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education.
The S-VCG is part of the Renewed Hope Agenda and seeks to nurture student innovations into commercially viable, high-impact ventures.
“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 whose roots will be planted right here in our universities and colleges. This is an equity-free seed investment in Nigeria’s future,” the Minister of Education, Chief Dr. Tunji Alausa, said.
Grants and support ecosystem
The ministry noted that the scheme provides up to N50 million in equity-free grants to student innovators in STEMM fields.
“The scheme offers up to N50 million in equity-free grants to student founders with innovations in STEMM fields (Science, Technology, Engineering, Mathematics, and Medical Sciences),” they added
In addition to funding, successful applicants will have access to:
- Intensive incubation programmes
- Mentorship from experienced entrepreneurs and industry leaders
- Full access to tools and resources necessary to scale startups
The Ministry emphasized that these measures are intended to ensure student ventures are market-ready and positioned for long-term success.
- To give students a global edge, the Ministry partnered with Google, using Gemini AI to power evaluation agents embedded in the application portal for fair and efficient assessment.
- Applicants who submit valid projects will also receive a one-year Google Gemini Pro license and access to premium learning resources to enhance technical and entrepreneurial skills.
- The Ministry added that students will begin their entrepreneurial journey with top-tier global tools, creating a strong innovation pipeline from idea to market-ready ventures.
All eligible students enrolled in accredited tertiary institutions are encouraged to apply. Proposals should demonstrate scalability, market relevance, and the potential to solve critical national or global challenges.
The application portal is accessible at https://svcq.education.gov.ng
What you should know
The S-VCG, also known as the STEMM Up Grant, was first announced in July this year and was set to formally commence on August 2.
The grant specifically targets full-time undergraduate students in their 300-level and above across accredited Nigerian tertiary institutions. Selected student-led projects will also gain access to mentorship, incubation services, and business development support to help scale their ventures and address real-world challenges.
The programme is being implemented in partnership with the Bank of Industry to ensure transparency, accountability, and measurable outcomes.
In preparation for the rollout, a high-level stakeholder engagement was held in Abuja, bringing together Vice Chancellors, Provosts, Rectors, student leaders, academic staff, and development partners. The discussions focused on strengthening student-led innovation across Nigeria’s tertiary institutions.
