The Federal Government has launched the Student Venture Capital Grant, a new scheme offering equity-free funding of up to ₦50 million to startups founded and run by students.
Announced by the Ministry of Education, the initiative focuses on supporting groundbreaking ideas in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).
Education Minister Tunji Alausa emphasized the ambition behind the programme, stating:
“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.”
The grant is targeted at student ventures tackling real societal issues with strong potential for growth, commercial viability, and long-term impact, essentially helping young innovators move from concept to market.
Full Support for Selected Startups
Successful applicants will receive more than funding. They will gain access to mentorship, incubation programs, and technical resources designed to elevate their solutions.
The ministry also revealed a key partnership with Google to enhance the screening process. Google’s Gemini AI will be used for automated evaluations, and every applicant will get a one-year Gemini Pro license, complete with advanced learning tools.
According to the Ministry,
“Our goal is to ensure students begin their entrepreneurial journey with the best tools globally. We are building a powerful innovation funnel from idea to market domination.”
Applicants, it added, should showcase strong scalability, market value, and the capacity to solve significant national or global problems.
How to Apply
The application portal svcg.education.gov.ng is currently open to all students enrolled in accredited tertiary institutions.
Prospective applicants are encouraged to submit early and ensure all required documents and details are correctly provided for a seamless assessment process.
