FG launches N50m equity-free grant to spark student innovation

The federal government has rolled out a new N50 million Student Venture Capital Grant (S-VCG) aimed at pushing innovation and entrepreneurship across tertiary institutions.

Unveiled on Monday in Abuja, the programme is being championed by the minister of education, Tunji Alausa, who described it as a strategic investment in young people building ideas from campus. He said the initiative aligns directly with the education priorities under President Bola Tinubu’s Renewed Hope Agenda.

Alausa stressed that the grant is not just another funding scheme but a deliberate effort to discover high-potential student ideas, support them with capital, and strengthen a culture of research and enterprise in universities and polytechnics.

Under the arrangement, selected ventures can receive up to N50 million in equity-free seed funding. They will also benefit from incubation support, mentorship from experts, and access to the networks and tools needed to build viable startups.
The programme is being delivered through a collaboration between the education ministry, TETFund, the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google.

Who can apply?

The ministry says the grant is open to full-time students in federal, state, and private tertiary institutions starting from year three, although younger students are allowed as team members. Eligible ventures must also have CAC-registered business names and operate within STEMM fields, science, technology, engineering, mathematics, and medical sciences.

Every application will undergo a detailed review, and shortlisted teams will pitch before a 12-member panel drawn from academia, industry, venture capital, and government. Students can also be paired with complementary teams to encourage collaboration and cross-disciplinary thinking.

FG Opens Application Portal For N50m Student Venture Capital Grant

Alausa said the goal is to give talented students a credible chance to build solutions with global relevance. He noted that many successful founders never got it right on their first attempt, but what mattered was that “their journey began with a spark”. The S-VCG, he explained, is built to light that spark and showcase the depth of Nigerian ingenuity.

The ministry expects the programme to drive faster research commercialization, strengthen intellectual property development, and prepare students to create scalable ventures.

17,914 applications already logged

Adebayo Onigbanjo, national programme coordinator of the Special Programme Unit of the S-VCG, said the response so far shows how hungry Nigerian students are for innovation opportunities. According to him, the portal has recorded 17,914 applications from 402 tertiary institutions, 346 public and 56 private, with over 1,000 fully completed submissions.

Former power minister Barth Nnaji, whose foundation awards an annual $100,000 science innovation prize, praised the initiative and said it aligns with broader efforts to deepen research and technological problem-solving.

The application portal opened on November 17 and will close on January 23, 2026. Evaluation will begin immediately afterward.