FG Opens Application Portal For N50m Student Venture Capital Grant

The Federal Government has officially opened the application portal for its Student Venture Capital Grant (S-VCG), a new funding scheme that offers up to N50 million in equity-free capital to student-led innovations across Nigerian tertiary institutions.

The Ministry of Education announced the rollout in a statement signed by Boriowo Folasade, Director of Press and Public Relations, noting that the scheme is designed to turn student ideas into commercially viable, high-impact ventures.

According to the ministry, the programme is a key part of the administration’s Renewed Hope Agenda, with a strong focus on supporting innovations in STEMM fields — Science, Technology, Engineering, Mathematics, and Medical Sciences.

“The President has challenged us to look for the next moonshot within our tertiary institutions,” Minister of Education, Chief Dr. Tunji Alausa, said. “We are scouting for future Nigerian unicorns, and this grant is an equity-free investment in the country’s future.”

Funding and Support Structure

Beyond the N50 million grant, successful applicants will gain access to a full support ecosystem, including:

• Intensive incubation and acceleration programmes
• Mentorship from industry leaders and seasoned entrepreneurs
• Access to tools, technical resources, and business development support

The ministry said the support package is meant to help student ventures mature into sustainable, market-ready startups capable of scaling beyond the campus environment.

AI-Powered Evaluation With Google Partnership

To strengthen the credibility of the selection process, the government partnered with Google to embed Gemini AI evaluation agents directly into the application portal. The system will help screen and assess submissions for fairness and efficiency.

Every applicant with a valid submission will also receive a one-year Google Gemini Pro licence, along with premium learning resources aimed at improving technical and entrepreneurial skills.

Eligibility And Application Requirements

The S-VCG — also known as the STEMM Up Grant, is open to full-time 300-level and above students enrolled in any accredited Nigerian tertiary institution. Proposals must show strong market relevance, scalability, and the ability to address significant national or global problems.

Applications can now be submitted via the official portal: https://svcq.education.gov.ng

Implementation And Oversight

The programme is being implemented in partnership with the Bank of Industry, a move the ministry says will ensure transparency, accountability, and measurable outcomes.

Prior to the launch, the government held a high-level stakeholder meeting in Abuja with Vice Chancellors, Provosts, Rectors, development partners, student representatives, and academic leaders to align on strengthening innovation across Nigerian campuses.