The Minister of Education, Dr. Maruf Olatunji Alausa, has officially launched the Student Venture Capital Grant (S-VCG) programme aimed at funding student-led ventures with up to N50 million in equity-free grants, with a deadline for applications fixed for January 23.
The minister officially launched the S-VCG programme in Abuja on Monday, attended by Nairametrics.
“It is therefore my pleasure, to the benefit of all Nigerian students and to the Glory of God that I formally declare the S-VCG programme open,” the minister said.
Nairametrics previously reported that on November 17, 2025, the ministry launched the application portal for the S-VCG as part of the Renewed Hope Agenda aimed at nurturing student innovations into commercially viable, high-impact ventures.
What the Minister Is Saying
The minister told the audience that while not every idea will become a startup, the ministry hopes that some of the innovations that emerge from the programme will evolve into patents and licensable technologies with potential for significant local and global impact.
He highlighted that shortlisted teams will pitch before a 12-member panel comprising representatives of the Research, Innovation & Commercialization Committee, the Bank of Industry, venture capital and private equity professionals, Afara Initiative, tertiary institutions’ professors, and the Federal Ministry of Education.
He highlighted that the formal launch of this landmark initiative speaks directly to the future of Nigeria and the central mission of this administration.
He explained that the programme aims to ignite innovation, institute research excellence, and kick-start a vibrant entrepreneurial culture across tertiary institutions.
“Every business submission will be thoroughly evaluated, and applicants will receive feedback to help refine and strengthen their ideas for subsequent cycles. More importantly, this programme will accelerate research commercialization and the development of Intellectual Property (IP),” he stated.
The minister noted that applications will close on 23rd January 2026, urging all eligible students across universities, polytechnics, and colleges of education to take advantage of the opportunity.
More Insights
On his part, the Special Adviser to the President on Media and Public Communication, Sunday Dare, stressed that venture capitalism has long been dominated by the private sector, and venture capital has been growing slowly in Nigeria.
He added that it is a major milestone for the Ministry of Education to step into venture capitalism.
He described the development as an important innovation targeted at broader areas of learning, beyond the usual focus on fintechs and startups.
What You Should Know
The S-VCG, also known as the STEMM Up Grant, was first announced in July this year and was scheduled 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.
