FG rolls out N50m venture capital grant to power student-led innovation

The Federal Government has launched the application portal for the Students’ Venture Capital Grant (S-VCG), a new initiative designed to convert student-led innovations into commercially viable, high-impact enterprises.

Announcing the rollout in a statement on Monday, Minister of Education, Tunji Alausa, described the scheme as a key component of the Renewed Hope Agenda and a strategic investment in Nigeria’s next generation of innovation-driven entrepreneurs.

Alausa said the programme provides up to N50 million in equity-free funding for student founders developing solutions in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).

Beyond funding, beneficiaries will receive structured incubation support, expert mentorship, and access to technical resources needed to scale their ventures.

“The president challenged us to find the next moonshot within our tertiary institutions.

“We are scouting for future Nigerian unicorns whose roots will be planted in our universities and colleges.

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

To enhance transparency and efficiency, the Ministry of Education has partnered with Google to integrate advanced technology into the application process.

The portal now uses Google Gemini AI-powered evaluation agents to review submissions.

Every successful applicant will also receive a one-year free Google Gemini Pro license and premium learning materials to strengthen their technical and entrepreneurial skills.

Alausa urged eligible students enrolled in accredited tertiary institutions to apply through the official portal: https://svcg.education.gov.ng, and to submit proposals that demonstrate scalability, market relevance, and the potential to address pressing national or global challenges.