The Federal Government has thrown open the doors to what is being described as one of the most ambitious student-innovation programmes in Nigeria’s history, with the launch of the Student Venture Capital Grant (S-VCG) — offering equity-free grants of up to ₦50 million to student founders across the country.
The announcement came on Monday through an official statement signed by Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education, marking a defining moment in the government’s push to cultivate a new wave of homegrown innovators.
According to the statement, the S-VCG is a flagship element of the Renewed Hope Agenda, designed to transform brilliant student-led ideas into commercially viable, high-impact ventures capable of reshaping Nigeria’s economic future.
Speaking at the unveiling, the Minister of Education, Chief Dr. Tunji Alausa, FAMedS, CON, said the programme is modeled to unlock the “next generation of Nigerian unicorns” straight from the nation’s campuses.
> “The President has challenged us to look for the next Moonshot within our tertiary institutions,” the Minister declared. “We are not just looking for projects; we are scouting for future Nigerian Unicorns… This is an equity-free seed investment in Nigeria’s future.”
Up to ₦50 Million Equity-Free Grants for Student Innovators
At the core of the scheme is a bold commitment: to fund student innovations addressing real-world challenges in STEMM fields — Science, Technology, Engineering, Mathematics, and Medical Sciences.
Beyond funding, successful applicants will gain access to a full suite of support, including:
Intensive incubation programmes
Expert mentorship from seasoned founders and industry leaders
Tools, platforms, and resources needed to build and scale market-ready startups
The Ministry described the initiative as a “strategic innovation funnel” designed to move ideas from concept stage to market domination.
Google Joins as Technology Partner
In a major boost, the Ministry also revealed a partnership with Google, which will power the application and evaluation process through Gemini AI-driven assessment agents embedded within the portal.
Every applicant who completes a submission will receive:
A one-year free Google Gemini Pro license
Access to premium learning and entrepreneurial development resources
The Ministry said the goal is to ensure Nigerian students begin their innovation journey “with the very best tools available globally.”
Portal Now Live
All eligible students enrolled in accredited tertiary institutions nationwide are encouraged to apply.
The official application portal is now open at: svcg.education.gov.ng
Applicants are advised to submit proposals with clear scalability, market relevance, and the ability to address critical national or global challenges.
With this launch, the Federal Government says it is placing Nigerian students at the frontline of global innovation — and backing their dreams with capital, technology, and a clear path to scale.
About The Author
