Nigeria’s Ministry of Education has formally opened the application portal for the Student Venture Capital Grant (S-VCG), a national scheme designed to turn student-developed ideas into commercially viable, high-impact ventures.
The scheme is a key component of President Bola Tinubu’s Renewed Hope Agenda and seeks to nurture a new generation of innovation-driven entrepreneurs across the country.
In a statement issued by the Ministry’s Director of Press, Boriowo Folashade, the Minister of Education, Dr. Tunji Alausa, described the initiative as a direct response to the President’s charge to search for “the next moonshot” within Nigeria’s 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,” Alausa said.
According to the minister, the S-VCG is designed to ignite student-driven innovation by backing ventures with clear potential for scale, market relevance, and real-world impact. It provides up to ₦50 million in equity-free funding for student founders developing innovations in STEMM fields Science, Technology, Engineering, Mathematics, and Medical Sciences.
Beyond funding, successful applicants will enter a robust support ecosystem comprising intensive incubation programmes, expert mentorship, and full access to tools, platforms, and resources required to refine and scale their startups.
“This strategic structure ensures that funded ventures are not only launched but are supported to successfully transition into market-ready enterprises,” Alausa explained.
The grant is open to all eligible students enrolled in accredited Nigerian tertiary institutions. Applications are now being received via the official portal: https://svcg.education.gov.ng.
Applicants are encouraged to submit proposals that demonstrate scalability and the potential to address critical national or global challenges.
As part of efforts to embed world-class technology into the programme, the Ministry announced a partnership with Google, which will integrate advanced digital tools into both the application and evaluation processes.
Through this collaboration, Google’s Gemini AI will power customised evaluation agents on the portal, ensuring fair, efficient and intelligent review of all submissions.
Additionally, every student who successfully submits a project will receive a one-year free Google Gemini Pro licence, as well as premium learning resources to strengthen their entrepreneurial and technical skills.
The Ministry said the partnership is designed to ensure that Nigerian students “begin their entrepreneurial journey with the very best tools available globally.”
“We are building a powerful innovation funnel from idea to market domination,” the statement added.
