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By Alebiowu Kehinde
The Federal Government, through the Ministry of Education, has announced the launch of the Student Venture Capital Grant, a major new national initiative aimed at identifying and funding student-led innovation with significant financial support. The application portal for the scheme is now officially open.
The initiative promises equity-free grants of up to ₦50 million for successful student ventures, marking a substantial commitment to fostering entrepreneurship within Nigeria’s tertiary institutions.
In a statement signed by Boriowo Folasade, Director of Press and Public Relations, the Ministry quoted Minister of Education, Tunji Alausa, who positioned the grant as central to the government’s innovation drive.
“The President has challenged us to look for the next Moonshot within our tertiary institutions,” Minister Alausa said. “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.”
The grant specifically targets students developing innovations in STEMM fields: Science, Technology, Engineering, Mathematics, and Medical Sciences. Its core objective is to “ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialisation.”
The Ministry also revealed a strategic partnership with Google to elevate the programme’s standards and evaluation process.
A key feature of the partnership is the integration of artificial intelligence: Google’s Gemini AI will power the automated evaluation system on the application portal. Furthermore, every applicant will receive valuable resources, including a free one-year Gemini Pro license and premium learning materials, ensuring students “begin their entrepreneurial journey with the very best tools available globally.”
Successful applicants will be placed in a comprehensive support ecosystem that includes incubation, mentorship, and access to tools, as the Ministry seeks to build a “powerful innovation funnel from idea to market domination.”
Students in accredited tertiary institutions are encouraged to submit proposals demonstrating scalability, market relevance, and the potential to solve critical national or global challenges via the official portal at svcg.education.gov.ng.
