The Federal Government of Nigeria (FGN) has launched the application portal for the Student Venture Capital Grant (S-VCG), which is a new initiative designed to fund student-led ventures with up to ₦50 million in equity-free grants.
This development was made known in a statement by Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education.
Speaking at the launch, the Minister of Education, Tunji Alausa, said, “The President has challenged us to look for the next moonshot within our tertiary institutions.
“We are not just looking for projects; we are scouting for future Nigerian unicorns whose roots will be planted right here in our universities and colleges. This is an equity-free seed investment in Nigeria’s future.”
According to the ministry’s statement, “The scheme offers up to N50 million in equity-free grants to student founders with innovations in STEMM fields (Science, Technology, Engineering, Mathematics, and Medical Sciences).”
The statement also noted the collaboration with Google’ Gemini AI to strengthen the program, adding that every applicant would be provided a free one-year Gemini Pro license and premium learning resources.
Students in accredited tertiary institutions are encouraged to apply via svcg.education.gov.ng, and successful applicants would gain access to a support system such as incubation, mentorship, and also access to tools.
The ministry urged applicants to submit proposals that show “scalability, market relevance, and potential to solve critical national or global challenges.”
The S-VCG focuses on full-time undergraduate students in their 300-level and above in any accredited Nigerian tertiary institution.
The initiative is designed to “ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialization.”