The Federal Government of Nigeria has launched the N50 million Student Venture Capital Grant (S-VCG), aimed at empowering Nigerian students in tertiary institutions to transform innovative ideas into scalable, market-ready businesses.
The S-VCG is part of the Renewed Hope Agenda and is designed to nurture a new generation of Nigerian entrepreneurs capable of reshaping the nation’s economic landscape.
Speaking at the announcement, the Honourable Minister of Education, Tunji Alausa, said the scheme targets student founders with 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. 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.”
In a statement issued by the ministry’s spokesperson, Boriowo Folasade, on Monday, the ministry announced that the application portal for the grant is officially open to all eligible students enrolled in accredited tertiary institutions.
“The official application portal is now open at https://svcg.education.gov.ng. Applicants are advised to submit proposals that demonstrate scalability, market relevance, and potential to solve critical national or global challenges,” the statement reads.
According to the ministry, successful applicants will receive up to N50 million in equity-free grants and will be integrated into a comprehensive support ecosystem that includes intensive incubation programs.
Other supports include expert mentorship from industry leaders and full access to the tools and platforms required to develop and scale their ventures.
To position Nigerian students at the forefront of global innovation, the Ministry is partnering with Google to integrate advanced technology into the S-VCG application and evaluation process.
Through this partnership, Google’s Gemini AI powers custom-built “evaluation agents” embedded directly in the portal to ensure fair, intelligent, and efficient review of submissions.
Additionally, every applicant who successfully submits a business project or innovation will receive a one-year free Google Gemini Pro license, along with premium learning resources to strengthen their entrepreneurial and technical capabilities.
According to the Ministry, one of the key objectives of the partnership is to ensure that “our students begin their entrepreneurial journey with the very best tools available globally. We are building a powerful innovation funnel—from idea to market domination.”
