The Federal Government, through its Ministry of Education, has unveiled a N50 million Student Venture Capital Grant (S-VCG) aimed at supporting innovative businesses by students in tertiary institutions.
The S-VCG forms a central pillar of the Renewed Hope Agenda and is designed to cultivate a new generation of Nigerian innovation entrepreneurs capable of redefining the nation’s economic future.
The grant, part of the government’s “Next Moonshot” initiative, is intended to help student innovators develop their ideas into commercially viable ventures.
Speaking at the announcement, the Minister of Education, Tunji Alausa, stated that the scheme targets student founders with innovations in STEMM fields, Science, Technology, Engineering, Mathematics, and Medical Sciences, underscoring the national importance of the initiative.
“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,” he said.
In a statement on Monday, the Ministry’s spokesperson, Boriowo Folashade, announced that the application portal has been opened, urging eligible students enrolled in accredited tertiary institutions to submit their proposals.
“All eligible Nigerian students enrolled in accredited tertiary institutions are encouraged to apply for this unprecedented opportunity. 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,” it satted.
The Ministry added that successful applicants will also be absorbed into a comprehensive support ecosystem, including intensive incubation programs.
Other support includes expert mentorship from seasoned entrepreneurs and industry leaders, as well as full access to tools, platforms, and resources required to develop and scale their startups.
This strategic structure ensures that funded ventures are not only launched but also supported to successfully transition into market-ready enterprises.
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 into the application 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 key objective 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.”
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