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The Federal Government, through the Ministry of Education, has officially launched the application portal for the Student Venture Capital Grant (S-VCG), an initiative offering up to N50 million in equity-free grants to student innovators across the nation.
The S-VCG, also known as the STEMM Up Grant, is designed to transform high-potential, student-led innovations into commercially viable, high-impact ventures.
Boriowo Folasade, director of press and public relations at the Federal Ministry of Education, said in a statement that the scheme was described as a direct challenge to the country’s tertiary institutions.
“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,” Tunji Alausa, Minister of Education.
The grant specifically targets full-time undergraduate students in their 300-level and above enrolled in accredited Nigerian tertiary institutions.
The funding is exclusively for student founders with innovations in STEMM fields (Science, Technology, Engineering, Mathematics, and Medical Sciences). Proposals submitted must demonstrate scalability, market relevance, and the potential to solve critical national or global challenges.
Beyond the significant financial backing, successful applicants will be integrated into a comprehensive support ecosystem aimed at ensuring long-term success. This includes intensive incubation programmes, mentorship from experienced entrepreneurs and industry leaders, and full access to necessary tools and resources
To enhance the evaluation process and provide applicants with a global edge, the ministry has partnered with Google. The application portal utilises Gemini AI to power evaluation agents, ensuring fair and efficient assessment.
All applicants who submit valid projects will receive a one-year Google Gemini Pro license and access to premium learning resources to boost their technical and entrepreneurial skills.
The programme is being implemented in partnership with the Bank of Industry (BOI) to guarantee transparency, accountability, and measurable outcomes.
