FG opens portal for N50m students’ venture capital grant

The Federal Government has launched the application portal for the Students’ Venture Capital Grant (S-VCG), a scheme designed to turn innovative student ideas into commercially viable ventures.

According to Folasade Boriowo, spokesperson for the Ministry of Education, the initiative is a key component of the Renewed Hope Agenda.

The Minister of Education, Tunji Alausa, said the programme aims to nurture a new generation of innovation-driven entrepreneurs capable of reshaping Nigeria’s economic future.

“The president challenged us to look for the next moonshot within our tertiary institutions. We are not just seeking projects; we are searching for future Nigerian unicorns.

“This is an equity-free seed investment in Nigeria’s future,” he said.

The S-VCG offers grants of up to N50 million to student founders with groundbreaking ideas in Science, Technology, Engineering, Mathematics and Medical Sciences (STEMM).

Beneficiaries will also gain access to a full support system, including incubation programmes, expert mentorship from industry leaders, and essential tools and resources to scale their startups.

Alausa added that the ministry is partnering with Google to enhance the application and evaluation process.

Through the collaboration, Google’s Gemini AI will power custom “evaluation agents” on the portal to ensure fair and efficient review of submissions.

All applicants who successfully submit a project will also receive a one-year free Google Gemini Pro license and premium learning resources to boost their entrepreneurial and technical skills.