The Federal Government of Nigeria has launched an application portal for the Student Venture Capital Grant (S‑VCG), a program that offers equity‑free grants of up to 50 million naira to support student‑led ventures. According to a statement from the Federal Ministry of Education, the initiative targets innovative projects in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).
Minister of Education Chief Dr. Tunji Alausa highlighted the government’s commitment to nurturing student innovations into commercially viable businesses, noting that the program seeks to identify the next generation of Nigerian entrepreneurs. First announced in July as part of the Renewed Hope Agenda, the S‑VCG—also called the STEMM Up Grant—is open to full‑time undergraduate students in their 300‑level or higher, enrolled in accredited Nigerian tertiary institutions.
Successful applicants will receive funding as well as 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 financial support, selected projects will benefit from intensive incubation programs, guidance from experienced entrepreneurs and industry leaders, and access to tools and resources needed to grow startups. The Ministry has partnered with Google, using Gemini AI to power evaluation agents embedded in the application portal, ensuring a fair and efficient assessment process. This collaboration will also provide awardees with a one‑year Google Gemini Pro license and premium learning resources to enhance their technical and entrepreneurial skills.
The S‑VCG program is designed to give students the support required to turn innovative ideas into market‑ready ventures. The Ministry encourages all eligible students at accredited tertiary institutions to apply, submitting proposals that demonstrate scalability, market relevance, and the potential to solve critical national or global challenges. Through this initiative, the government aims to build a strong innovation pipeline—from idea to market‑ready product—and nurture the next generation of Nigerian entrepreneurs.
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