The Federal Government has officially opened the application portal for the Student Venture Capital Grant (S-VCG), a programme designed to support student-led innovations with equity-free funding of up to ₦50 million. The initiative is part of the Renewed Hope Agenda and aims to transform brilliant campus projects into high-impact businesses that can compete locally and globally.
The announcement was confirmed by the Federal Ministry of Education, stating that the scheme is structured to empower students with funding, mentorship, incubation support, and access to world-class learning tools.
The Minister of Education, Chief Dr. Tunji Alausa, emphasized that the government is committed to discovering “the next Moonshot” from Nigeria’s tertiary institutions. According to him, the goal is not only to fund projects but to identify future unicorns—large, scalable businesses that can emerge from innovation hubs on Nigerian campuses.
The grant targets students working on solutions in STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences. These sectors were selected to encourage ideas that solve real problems and can grow into sustainable enterprises.
In addition to the funding, successful student founders will gain access to:
• Intensive incubation and business development programmes
• Mentorship from industry leaders and experienced entrepreneurs
• Tools and resources to strengthen their innovations
• Technical support to prepare their projects for real market conditions
To further improve fairness and efficiency, the Ministry partnered with global technology companies to integrate AI evaluation tools into the application portal. Qualified applicants will also receive a one-year Google Gemini Pro licence along with premium learning resources. This will help students develop stronger prototypes, sharpen digital skills, and scale their ideas with global-standard tools.
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Eligibility Criteria
The S-VCG grant is open to full-time undergraduate students enrolled in accredited Nigerian tertiary institutions. Students in 300-level and above are especially encouraged to apply, and proposals must demonstrate scalability, market relevance, and the ability to tackle significant local or global challenges.
The initiative is being implemented in partnership with the Bank of Industry (BOI) to ensure transparency, accountability, and measurable results. Before the programme launch, top stakeholders including Vice Chancellors, Provosts, Rectors, student leaders, and development partners convened in Abuja to fine-tune strategies that will support student-driven innovation across the country.
How to Apply
Students interested in the grant can access the official portal through the link below:
Applicants are advised to prepare a clear, well-structured proposal that highlights the problem being solved, the uniqueness of their idea, its market potential, and how the funds will be used to achieve measurable results.
This grant represents one of Nigeria’s boldest efforts to support young innovators and build a strong innovation ecosystem directly from its tertiary institutions. Students with viable ideas are encouraged to apply early before the portal closes.
