The Federal Government has opened applications for the second cohort of its Student Venture Capital Grant, offering up to ₦50 million each to 50 outstanding student-led ventures across Nigeria.
The initiative, also known as the Next Moonshot Initiative, targets student entrepreneurs with innovative Science, Technology, Engineering and Mathematics (STEM)-based business ideas.
Announcing the programme in Abuja, the National Coordinator of the Special Programme Operations and Implementation Unit at the Federal Ministry of Education, Adebayo Onigbanjo, said 50 exceptional ventures would be selected from across the country.
According to him, successful applicants will receive equity-free grants of up to ₦50 million to develop and scale their businesses.
Onigbanjo said the programme aligns with President Bola Tinubu’s Renewed Hope Agenda and forms part of the Ministry of Education’s Nigeria Education Sector Renewal Initiative, particularly its STEM development goals.
He noted that the initiative aims to help young innovators transform promising ideas into viable businesses by providing access to funding and mentorship.
Applications will undergo an initial AI-assisted screening process, followed by evaluation by human assessors. Shortlisted candidates will make virtual presentations before finalists proceed to a three-day boot camp and in-person pitch session.
Beyond funding, selected beneficiaries will receive six months of mentorship from leading organisations, including Lafarge, Cellulant/Childtech, Powerhouse, Co-Creation Hub, LifeBank, Future Africa, GetEquity and One Health.
To encourage participation, the programme team will embark on a nationwide roadshow across selected universities, polytechnics and colleges of education between September 6 and September 30, 2026.
Applications for the second cohort close on September 30, 2026.
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