The Federal Government has opened applications for the Student Venture Capital Grant, a national initiative offering equity-free grants of up to ₦50 million to student-led innovations.
The announcement was made on Monday by the Federal Ministry of Education in a statement signed by Boriowo Folasade, Director of Press and Public Relations.
At the launch, Minister of Education Tunji Alausa said the initiative aligns with the government’s push for innovation within tertiary institutions.
“The President has challenged us to look for the next Moonshot within our universities and colleges. We are scouting for future Nigerian Unicorns,” Alausa said. “This is an equity-free seed investment in Nigeria’s future.”
The grant targets students developing innovations in STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences.
The initiative aims to “ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialisation,” the ministry said.
Successful applicants will benefit from incubation, mentorship, and access to essential tools, providing a structured pathway from idea to market.
The ministry also announced a partnership with Google to enhance the programme’s evaluation process. Google’s Gemini AI will power automated application assessment, and every applicant will receive a free one-year Gemini Pro license and premium learning resources.
Students from accredited tertiary institutions are encouraged to apply at svcg.education.gov.ng, submitting proposals that demonstrate scalability, market relevance, and the potential to address critical national or global challenges.
The initiative reflects the government’s commitment to fostering entrepreneurship and technological innovation among Nigerian students.