The Federal Government of Nigeria has launched the application portal for the Student Venture Capital Grant (S-VCG), a program designed to support student-led ventures with equity-free grants of up to 50 million. According to a statement by the Federal Ministry of Education, the initiative aims to fund innovative projects in the fields of Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).
The Minister of Education, Chief Dr. Tunji Alausa, emphasized the government’s commitment to nurturing student innovations into commercially viable ventures, stating that the program seeks to identify the next generation of Nigerian entrepreneurs. The S-VCG, also known as the STEMM Up Grant, was first announced in July and is part of the Renewed Hope Agenda.
The grant is open to full-time undergraduate students in their 300-level and above, enrolled in accredited Nigerian tertiary institutions. Successful applicants will not only receive funding but also gain access to mentorship, incubation services, and business development support to help scale their ventures and address real-world challenges. The program is being implemented in partnership with the Bank of Industry to ensure transparency, accountability, and measurable outcomes.
In addition to funding, selected student-led projects will benefit from intensive incubation programs, mentorship from experienced entrepreneurs and industry leaders, and access to tools and resources necessary to scale startups. The Ministry has partnered with Google, utilizing Gemini AI to power evaluation agents embedded in the application portal, to ensure a fair and efficient assessment process. This partnership will also provide successful applicants with a one-year Google Gemini Pro license and access to premium learning resources to enhance their technical and entrepreneurial skills.
The S-VCG program is designed to provide students with the necessary support to turn their innovative ideas into market-ready ventures. The Ministry encourages all eligible students enrolled in accredited tertiary institutions to apply, with proposals demonstrating scalability, market relevance, and the potential to solve critical national or global challenges. With this initiative, the government aims to foster a strong innovation pipeline, from idea to market-ready ventures, and nurture the next generation of Nigerian entrepreneurs.