The Federal Government has unveiled the Student Venture Capital Grant (S-VCG), a N50 million initiative created to boost innovation, research excellence, and entrepreneurship across Nigeria’s tertiary institutions.
Announcing the programme in Abuja, the Minister of Education, Dr. Tunji Alausa, described the S-VCG as a strategic investment in young innovators that aligns with President Bola Tinubu’s Renewed Hope Agenda for the education sector.
He explained that the initiative is designed not just as a funding scheme but as a platform to discover high-potential ideas emerging from campuses and to build a strong culture of creativity and enterprise among students.
Beneficiaries of the S-VCG will receive up to N50 million in equity-free seed funding, along with intensive incubation support, expert mentorship, and access to essential networks and startup development tools.
The programme is jointly implemented by the Federal Ministry of Education and TETFund, in partnership with the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google.
It is open to full-time students in federal, state, and private tertiary institutions from 300 level and above, with younger students eligible to join teams.
Dr. Alausa noted that the S-VCG aims to identify exceptional student talent, provide credible opportunities for success, and inspire a new wave of innovation across the country.
He emphasised that some of the world’s most successful founders did not succeed on their first attempt, but their journey began with a spark — one this programme intends to ignite.
According to the minister, eligible ventures must be CAC-registered and rooted in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).
All applications will undergo a rigorous evaluation process, with shortlisted candidates pitching before a 12-member expert panel representing academia, industry, venture capital, and government.
Participants will also receive feedback and may be paired with complementary teams to encourage collaboration and shared creativity.
Dr. Alausa added that the initiative is expected to drive research commercialisation, enhance intellectual property development, and position student founders to deliver globally relevant, high-impact solutions.
While not every idea will become a startup, he noted that some will evolve into patents or licensable technologies with significant value.
Since the portal opened, the programme has recorded 17,914 applications from 402 tertiary institutions—346 public and 56 private—with more than 1,000 completed submissions already received.
Former Minister of Power, Prof. Barth Nnaji, whose board awards an annual $100,000 prize for groundbreaking scientific innovation, commended the initiative.
He highlighted its alignment with national efforts to deepen scientific research, noting that such programmes equip students and mentors to develop inventions that solve local problems while serving global needs.
The application portal opened on November 17 and will close on January 23, 2026, with evaluations commencing immediately afterward.
