The Federal Government has opened applications for the Student Venture Capital Grant (S-VCG) designed to support high-impact innovations developed by students in Nigerian tertiary institutions.
FG, in a notice obtained by RoundReports revealed that the grant offers up to N50 million in equity-free funding for student-led ventures, particularly in STEMM fields like Science, Technology, Engineering, Mathematics and Medical Sciences.
The Education Ministry said the initiative is part of efforts to nurture a new generation of innovation-driven entrepreneurs under the Renewed Hope Agenda.
Announcing the initiative, the Minister of Education, Chief Dr Tunji Alausa, said the programme was designed to uncover breakthrough ideas within university and college communities.
"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. This is an equity-free seed investment in Nigeria’s future," he said.
According to Alausa, successful applicants will gain access to incubation programmes, mentorship from industry experts and the tools needed to build market-ready products.
He further asserted the structure was designed to ensure that funded ventures have support beyond the initial grant phase.
The Ministry has also entered into a partnership with Google to integrate artificial intelligence tools into the application and evaluation process.
Google’s Gemini AI, it insisted, will power "evaluation agents" embedded in the portal to help review submissions.
Each applicant who completes a submission will also receive a one-year Google Gemini Pro licence and access to specialised learning materials, according to the notice.
Officials stated the collaboration was intended to equip students with world-class digital tools at the start of their entrepreneurial journey.
Notably, it added that applications are open to students enrolled in accredited Nigerian tertiary institutions.
The proposals are expected to demonstrate scalability, market relevance and the potential to address national or global challenges.
Interested applicants can apply through the official portal at svcg.education.gov.ng.
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