The Federal Government of Nigeria has announced the launch of the Next Moonshot initiative and opened the application portal for the Student Venture Capital Grant, a national scheme designed to support student founders with equity-free funding of up to N50 million.
The announcement was made through the Federal Ministry of Education, which described the S-VCG as a major step in advancing innovation, economic development and technology-driven entrepreneurship across tertiary institutions. The initiative aligns with the Renewed Hope Agenda and targets young innovators interested in building commercially viable projects in science, technology, engineering, mathematics and medical sciences.
Speaking during the official unveiling, the Minister of Education, Chief Dr. Tunji Alausa FAMedS, CON, highlighted the importance of the program in shaping Nigeria’s economic future. He said, “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.” His remarks emphasized the government’s commitment to supporting breakthrough ideas that can scale globally.
The S-VCG will provide successful applicants with intensive incubation programs, expert mentorship from industry leaders and full access to tools, platforms and resources required to build market-ready ventures. The Ministry noted that the structure of the grant is designed to ensure that funded startups do not stop at the idea stage but grow into sustainable enterprises capable of addressing real-world challenges.
A strategic partnership with Google has also been integrated into the initiative to strengthen global competitiveness. Through this collaboration, Google’s Gemini AI powers custom evaluation agents within the portal to ensure a transparent and intelligent review of submissions.
Every applicant who completes a submission will receive a one-year free Google Gemini Pro license along with premium learning resources aimed at improving technical skills, digital literacy and entrepreneurial capacity. According to the Ministry, the partnership ensures that “our students begin their entrepreneurial journey with the very best tools available globally. We are building a powerful innovation funnel-from idea to market domination.”
The government confirmed that the application portal is officially open to all eligible Nigerian students enrolled in accredited tertiary institutions. Interested applicants are encouraged to submit projects that demonstrate scalability, market relevance and the ability to solve national or global challenges.
The portal is accessible through the official link at svcg.education.gov.ng, and students are advised to prepare detailed proposals that clearly explain their innovation, target market and growth potential.
Government officials added that the Next Moonshot initiative is expected to stimulate economic growth by encouraging technology investment and expanding access to startup funding for young entrepreneurs. The program is positioned as a venture capital pipeline that strengthens digital innovation and supports students working on solutions with strong market demand, global competitiveness and high potential for expansion.
I’m really very much delighted to see that program is now open, and I’m hoping that this program will help and guide us to make our life better, I really appreciate