…offers equity-free funding for innovators
The Federal Government has opened the application portal for the Student Venture Capital Grant (S-VCG), an initiative offering up to ₦50 million in equity-free funding to student innovators across Nigeria’s tertiary institutions, aimed at transforming campus-born ideas into commercially viable, high-impact ventures.
In a statement issued by the Director of Press & Public Relations at the Federal Ministry of Education, the government described the S-VCG as a central pillar of the Renewed Hope Agenda, aimed at nurturing a new generation of innovation-driven entrepreneurs within Nigeria’s tertiary institutions.
Speaking on the announcement, Tunji Alausa, Minister of Education, said the initiative represents a direct investment in the nation’s future.
“The President has challenged us to look for the next Moonshot within our tertiary institutions,” he stated. “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.”
He explained that at the core of the programme is an offer of up to ₦50 million in equity-free grants to student founders developing innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).
The grant is targeted at ventures capable of addressing real-world challenges and demonstrating strong potential for scale and commercialisation.
The minister also said that beyond funding, successful applicants will be integrated into a robust support ecosystem comprising intensive incubation programmes, expert mentorship from seasoned industry leaders, and full access to essential tools and platforms needed to develop and scale their startups.
The ministry noted that this structure ensures that funded ventures progress from ideation to market-ready enterprises.
As part of efforts to strengthen the initiative, the Ministry announced a strategic partnership with Google, enabling the tech giant to deploy its advanced Gemini AI technology into the S-VCG application platform.
Google’s custom-built “evaluation agents” will support a fair and efficient review process, while every applicant who submits a valid innovation proposal will receive a one-year free Google Gemini Pro license and premium learning resources to sharpen their technical and entrepreneurial skills.
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According to the Ministry, the collaboration is intended to give Nigerian students a global competitive edge.
“Our goal is to ensure that students begin their entrepreneurial journey with the very best tools available globally. We are building a powerful innovation funnel, from idea to market domination,” the statement added.
The government encourages all eligible students enrolled in accredited tertiary institutions to apply for what it describes as a transformative opportunity.
Applications are now open via the official portal.
