The Federal Government has opened the application portal for the Student Venture Capital Grant (S-VCG), a new programme offering up to ₦50 million in equity-free funding to support innovative, student-led ventures across the country.
The announcement was made in a statement by Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education.
The initiative, part of the government’s Renewed Hope Agenda, is designed to help students develop bold ideas into commercially viable, high-impact businesses.
Aiming to Build Nigeria’s Next Generation of Unicorns
Dr. Tunji Alausa, Minister of Education, said the programme reflects the administration’s commitment to nurturing world-class innovators from Nigerian campuses.
“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,” Alausa said.
“This is an equity-free seed investment in Nigeria’s future.”
What the Grant Offers
The S-VCG provides up to ₦50 million to student innovators developing solutions in STEMM disciplines – Science, Technology, Engineering, Mathematics and Medical Sciences.
Beyond funding, beneficiaries will also receive:
- Intensive incubation and accelerator programmes
- Mentorship from seasoned entrepreneurs and industry experts
- Access to tools, labs, and technical resources needed to scale
The Ministry said these support structures are designed to help students build sustainable ventures capable of competing globally.
AI-Powered Evaluation and Google Partnership
To strengthen transparency and ensure objective assessments, the Ministry has partnered with Google, integrating Gemini AI into the application portal to support initial project evaluation.
Every eligible applicant who submits a valid proposal will also receive:
- A one-year Google Gemini Pro license
- Access to premium learning and developer resources
According to the Ministry, this will equip student founders with the same tools used by leading global innovators.
Eligibility and Application Process
The programme, also known as the STEMM Up Grant, is open to:
- Full-time undergraduate students
- In their 300-level and above
- Enrolled in accredited Nigerian tertiary institutions
Applications must show strong innovation potential, scalability, market relevance and the ability to tackle pressing national or global challenges.
Students can apply via: https://svcq.education.gov.ng
Stakeholder Engagement and Implementation Partners
The S-VCG was first announced in July and is being implemented in partnership with the Bank of Industry (BOI) to ensure transparency, accountability and measurable project outcomes.
Ahead of the rollout, the Ministry convened a stakeholder meeting in Abuja involving Vice Chancellors, Provosts, Rectors, student leaders, academic staff and development partners to refine strategies for strengthening student-led innovation across campuses.
