The Federal Government has shortlisted 65 student innovators from over 30,000 applicants nationwide for the final stage of its Student Venture Capital Grant, a programme designed to fund and scale youth-led innovations across Nigeria.
The selection, drawn from 30,639 applications submitted by students in 404 tertiary institutions, signals a highly competitive process aimed at identifying viable ideas with strong growth potential. The initiative, introduced under President Bola Tinubu, focuses on empowering young Nigerians to turn innovative concepts into sustainable ventures.
According to a statement signed by the Director of Press and Public Relations at the Federal Ministry of Education, Folasade Boriowo, the shortlisted candidates are working on solutions in sectors considered critical to national development.
Minister of Education, Maruf Alausa, described the development as a deliberate effort to invest in the country’s future. He said, “The quality and ambition demonstrated by these 65 student innovators is deeply encouraging. Reaching this stage represents a significant milestone, and I look forward to the next phase as these ventures are refined and prepared for scale.”
He added that the programme is building a pipeline of entrepreneurs who can contribute meaningfully to economic growth. “Through this initiative, we are building a strong pipeline of innovators and entrepreneurs who will drive Nigeria’s future growth,” he said.
Launched in December 2025 in partnership with the Bank of Industry, the Student Venture Capital Grant offers up to N50m in equity-free funding to ventures that have reached the commercialisation stage. The funding is expected to help young founders expand their ideas, create jobs and improve economic activity.
The ministry explained that the selection process involved several layers to ensure merit and transparency. Applications first passed through AI-enabled screening to determine eligibility and alignment with programme goals, before undergoing human validation.
Entries that met the criteria were further assessed by a panel comprising representatives from government, academia, industry and the investment community. The evaluation focused on scalability, feasibility, founder capability and impact potential.
The 65 finalists will now proceed to a venture development bootcamp scheduled for March 26 to 29, 2026. During the programme, participants will engage in pitch sessions, workshops and live evaluations, while receiving investor-style feedback to strengthen their businesses.
Final grant recipients will be selected based on their application scores, bootcamp performance and recommendations from the evaluation committee, with successful innovators to be unveiled at an awards event on March 29.
