Federal Government has opened the application portal for the Student Venture Capital Grant (S-VCG), a groundbreaking national initiative aimed at transforming student-driven ideas into commercially viable ventures.
Dr Olatunji Alausa, the Minister of Education, referring to the announcement, pointed to the national importance of the initiative, explaining, “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 in our universities and colleges. This is an equity-free seed investment in Nigeria’s future.”
The mandate of the S-VCG is to ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialization.
The scheme offers up to N50 million in equity-free grants to student founders with innovations in STEMM fields: science, technology, engineering, mathematics, and medical sciences.
Successful applicants will also be absorbed into a comprehensive support ecosystem that includes intensive incubation programs, expert mentorship from seasoned entrepreneurs and industry leaders, and full access to tools, platforms, and resources required to develop as well as scale their startups.
This strategic structure ensures that funded ventures are not only launched but are supported to successfully transition into market-ready enterprises.
Also, to position Nigerian students at the forefront of global innovation, the Ministry is collaborating with Google to integrate advanced technology into the S-VCG application and evaluation process. Through this partnership, Google’s Gemini AI powers custom-built “evaluation agents” embedded directly into the application portal to ensure fair, intelligent, and efficient review of submissions.
Additionally, every applicant who successfully submits a business project or innovation will receive a one-year free Google Gemini Pro license, along with premium learning resources aimed at strengthening their entrepreneurial and technical capabilities.
All eligible Nigerian students enrolled in accredited tertiary institutions are encouraged to apply for this unprecedented opportunity.
RN
