The Federal Government of Nigeria (FGN) has on Monday, 8th December 2025, unveiled a N50 million Student Venture Capital Grant (S-VCG). This is aimed at promoting innovative, cutting-edge research excellence and entrepreneurship drive across Nigeria’s tertiary institutions.
Speaking at the official launch in Abuja, FCT, the Minister of Education, Dr. Tunji Alausa, said that the program aligns perfectly with the President Bola Tinubu’s led adminsiatrtion Renewed Hope Agenda.
According to the Education Minister, the S-VCG is targeted at providing credible opportunities for exceptional talents to build a culture of confidence and showcase their ingenuity and technological drives.
“The S-VCG is structured to identify exceptional talent, give them a fair and credible opportunity to succeed, and inspire thousands of others to believe in their capacity to innovate.
“We know that many successful founders did not thrive on their first attempt. But their journey began with a spark. This programme exists to light that spark, build a new culture of confidence, and showcase to the world the depth of Nigerian ingenuity.
He further stated that the beneficiaries will receive support from the Federal Government to increase their chances of building scalable technological ventures with a great Minimum Viable Product (MVP)
“Beneficiaries of the S-VCG will receive a comprehensive support package tailored to increase their chances of building viable and scalable ventures,” he added.
According to Minister Alausa, the S-VCG is designed to identify high-potential ideas from the tertiary institutions and nurture them into world-class talents.
He said beneficiaries would receive up to N50 million in equity-free seed funding, alongside intensive incubation, expert mentorship, and access to networks and critical startup-building tools.
The initiative is implemented by the Federal Ministry of Education and TETFund, in collaboration with the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google.
Full-time Year three and above students in the Federal, State, and Private tertiary institutions are eligible for the program, while the lower level students are allowed as team members. The Year three students serve as the co-founders, team leaders, or partners of the innovative idea.
According to the program’s overview, the eligible ventures must have a CAC-registered business or company, and they must be in the Science, Technology, Engineering, and Mathematics and Medical Science (STEMMS) fields.
According to the Education Minister, Alausa, every application would undergo thorough evaluation, with shortlisted teams pitching before a 12-member expert panel drawn from academia, industry, venture capital, and government.
Participants would receive feedback and may be paired with complementary teams to encourage collaboration and shared innovation.
He further stated that the S-VCG is expected to accelerate research commercialization, support intellectual property development, and position students to produce high-impact solutions with global relevance.
“Not every idea will become a startup, but some will evolve into patents and licensable technologies capable of significant impact,” he said.
Speaking on the programme overview, the National Programme Coordinator, Special Programme Unit of S-VCG, Mr. Adebayo Onigbanjo, said the programme is designed to ignite student-driven innovation and close the investment gaps that have made venture capitalists hesitant to invest in early-stage university ideas.
According to him, the portal had received 17,914 applications from 402 schools, comprising 346 public and 56 private institutions, noting that over 1,000 applications had actually been submitted.
Also speaking at the event, The Former Minister of Power, Prof. Barth Nnaji, also lauded the innovative idea, noting its alignment with solving societal and global needs will deepen scientific research and innovations.
“This is how students and their mentors can develop impactful inventions that serve global needs but solve local problems,” he said.
The program application portal opened on November 17 and will close on January 23, 2026. The program covers those in the universities, Polytechnics, and Colleges of Education. Individual applicants are also eligible to apply for the program as long as they meet the program’s requirements.
Students from both the private and public institutions are all eligible to apply for the program. The program’s applicants are to submit a comprehensive Business plan that includes their financial forecast analysis, inclusive of the Key Performance Indicators (KPIs).
The S-VCG program is not just looking for projects, but they are scouting for future unicorns from Nigerian higher institutions.
For eligibility and how to apply, check here.
