FG Opens Application Portal for 50 Million Students’ Venture Capital Grant

The Federal Government has launched the application portal for the Students’ Venture Capital Grant (S-VCG), a major initiative aimed at turning student-led innovations into market-ready, high-impact businesses.

The federal government has officially opened the application portal for the Students’ Venture Capital Grant (S-VCG), a flagship initiative designed to transform student-driven innovations into commercially viable, high-growth ventures.

According to a statement issued on Monday by the Ministry of Education’s spokesperson, Folasade Boriowo, the Minister of Education, Tunji Alausa, described the S-VCG as a strategic pillar of the Renewed Hope Agenda. He emphasized its national importance, noting that it is designed to nurture a new generation of innovation-focused entrepreneurs capable of redefining Nigeria’s economic future.

Mr Alausa highlighted President Tinubu’s directive on the initiative, stating: “The president had 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.”

The grant offers up to N50 million in equity-free funding for student founders working on innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM). Beyond funding, successful applicants will gain access to a robust support ecosystem that includes intensive incubation programmes, expert mentorship from seasoned entrepreneurs and industry leaders, and full access to tools and resources needed to build and scale their startups.

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Alausa stated that this structure ensures that “funded ventures are not only launched but are supported to successfully transition into market-ready enterprises.”

In a significant boost to the programme, the ministry has partnered with Google to integrate advanced technology into the application and evaluation process. He explained that “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 submits an eligible project will receive a one-year free Google Gemini Pro license and access to premium learning resources to enhance their entrepreneurial and technical skills. According to the minister, this partnership ensures that Nigerian students begin their entrepreneurial journey with the best global tools at their disposal.

Mr Alausa urged all eligible Nigerian students in accredited tertiary institutions to apply via the official portal at svcg.education.gov.ng, advising applicants to present proposals that are scalable, market-relevant, and capable of solving critical national or global challenges.