The Federal Government has launched the N50 million Student Venture Capital Grant (S-VCG) to boost innovation, research, and entrepreneurship across Nigeria’s tertiary institutions. The programme was unveiled on Monday in Abuja by the Minister of Education, Dr. Tunji Alausa, who said it reflects a strategic investment in young innovators under President Bola Tinubu’s Renewed Hope Agenda for Education.
Alausa explained that the programme is not just a grant initiative but a deliberate effort to identify bright ideas within campuses and nurture creativity among students. He said beneficiaries could access up to N50 million in equity-free seed funding, including incubation, expert mentorship, and access to vital startup development tools.
The initiative is jointly driven by the Federal Ministry of Education and TETFund, working with partners such as the Bank of Industry, Afara Initiative, Afrilabs, Entrepreneurship and Skills Development Centre, and Google. According to the minister, the programme is open to full-time students in federal, state, and private institutions from Year 3 upward, although younger students may participate when listed as team members. Eligible ideas must focus on Nigeria’s key development sectors Science, Technology, Engineering, Mathematics, and Medical Sciences.
“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,” Alausa stated. He added that many successful innovators did not achieve success on their first attempt, but their journey often began with a spark. According to him, the programme aims to light that spark and prove the strength of Nigerian ingenuity to the world.
He noted that successful applicants would receive support designed to raise their chances of developing scalable ventures. Alausa also said that eligible ventures must have a CAC-registered business name and demonstrate a strong foundation in STEM and medical fields. Every application will be carefully screened, after which shortlisted teams will pitch before a 12-member expert panel consisting of representatives from academia, industry, venture capital, and government. Participants are expected to receive feedback and may be matched with complementary teams to improve collaboration and shared innovation.
Alausa stressed that the programme intends to speed up research commercialisation, strengthen intellectual property development, and help students create globally relevant solutions. “Not every idea will become a startup, but some will evolve into patents and licensable technologies capable of significant impact,” he said.
Giving an overview of the programme, Mr. Adebayo Onigbanjo, National Programme Coordinator, said the grant seeks to close investment gaps that discourage venture capital investment in early-stage university projects. He revealed that the application portal recorded 17,914 entries from 402 schools, including 346 public and 56 private institutions, while over 1,000 applications have already been successfully submitted.
Former Minister of Power, Prof. Barth Nnaji, whose board awards a 100,000 dollar annual prize for scientific innovation, praised the initiative. He said it aligns with ongoing efforts to deepen research and create inventions with national and global relevance. “This is how students and their mentors can develop impactful inventions that serve global needs but solve local problems,” he noted.
The application portal opened on November 17 and will close on January 23, 2026, after which evaluation will commence. Eligible students are advised to apply through svcg.education.gov.ng.
