The Federal Government has opened the application portal for the Student Venture Capital Grant (S-VCG), a new nationwide initiative aimed at supporting student-led innovation with equity-free grants of up to ₦50 million.
The announcement was made on Monday in a statement issued by Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education.
According to the Ministry, the scheme is a central component of the Federal Government’s Renewed Hope Agenda, targeting students in tertiary institutions with innovative ideas capable of becoming commercially viable ventures.
Government Seeks “Next Nigerian Unicorns”
The Minister of Education, Chief Dr. Tunji Alausa (FAMedS, CON), said the initiative is designed to identify breakthrough ideas from Nigerian campuses.
“The President has challenged us to look for the next Moonshot within our tertiary institutions,” Alausa said. “We are scouting for future Nigerian Unicorns whose roots will be planted in our universities and colleges. This is an equity-free seed investment in Nigeria’s future.”
Grant Targets STEMM Innovators
The S-VCG will provide funding for innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).
The Ministry said the grant aims to support student-led ventures addressing real-world challenges with potential for scale and commercialization.
Beneficiaries will also receive additional support, including:
Intensive incubation programmes
Mentorship from experienced entrepreneurs and industry experts
Access to tools and resources needed to develop and scale their startups
Google Partners on Evaluation Process
To enhance the credibility and efficiency of the screening process, the Ministry announced a partnership with Google. The tech company’s Gemini AI will power custom “evaluation agents” built into the application portal to ensure transparent and intelligent assessment of submissions.
Each applicant who completes a valid entry will also receive a one-year free Google Gemini Pro license along with premium learning resources to strengthen their technical and entrepreneurial skills.
Portal Now Open
The Ministry urged all eligible students in accredited tertiary institutions to apply and submit proposals showcasing innovation, market relevance, scalability, and potential for national or global impact.
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Applications are now open on the official portal: svcg.education.gov.ng