The Federal Government on Monday launched a N50 million Student Venture Capital Grant to support young Nigerians turning ideas into real solutions on their campuses.
Speaking at the launch in Abuja, Minister of Education Dr. Tunji Alausa said the programme is a direct investment in students with big dreams, and a key part of President Bola Tinubu’s Renewed Hope Agenda for Education.
Alausa said the S-VCG is not just another grant scheme but a platform that finds promising ideas in universities and helps students turn them into viable ventures. Beneficiaries can get up to N50 million in equity-free funding, intensive incubation, mentorship, and access to tools and networks needed to build strong startups.
The programme is being 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.
According to the minister, the opportunity is open to full-time students in federal, state, and private institutions from 300 level and above, while younger students can join as team members.
“The goal is to identify exceptional talent and give them a fair chance to succeed,” Alausa said. “Many great founders didn’t get it right at first. They just needed a spark. This programme is here to ignite that spark and show the world what Nigerian students can do.”
Eligible ideas must come from STEM and Medical Sciences fields and have CAC-registered business names.
Applications will be reviewed rigorously, and shortlisted teams will pitch before a 12-member expert panel. Participants will also receive feedback and may be paired with other teams to boost collaboration and innovation.
Alausa said the scheme will help students turn research into real products, strengthen intellectual property development, and create globally relevant solutions.
“Not every idea will become a startup, but some will become patents and technologies that can make a real difference,” he added.
National Programme Coordinator Adebayo Onigbanjo said the initiative is designed to close the investment gap that often keeps venture capital away from early-stage student ideas. So far, 17,914 applications have been started across 402 schools, with over 1,000 fully submitted.
Former Minister of Power, Prof. Barth Nnaji, praised the initiative, saying it aligns with efforts to deepen scientific research and innovation in Nigeria.
The S-VCG application portal opened on November 17 and will close on January 23, 2026. Evaluation begins immediately after.
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