The Federal Government has introduced the Student Venture Capital Grant (S-VCG), a national programme designed to support student-led ventures with funding of up to ₦50 million.
The announcement, released by the Federal Ministry of Education, said the scheme is part of the Renewed Hope Agenda and seeks to nurture a generation of student founders capable of shaping the country’s economic direction.
At the briefing, the Minister of Education, Chief Dr. Tunji Alaosa FAMedS, CON, highlighted the purpose of the initiative. “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,” he said.
The grant targets ideas from students working in Science, Technology, Engineering, Mathematics and Medical Sciences. The ministry said the support package combines funding with incubation programmes, mentorship, and access to tools and platforms required for startup growth.
A major feature of the scheme is a partnership with Google, created to strengthen the quality of submissions and expand student access to advanced digital tools. Google’s Gemini AI will drive the portal’s “evaluation agents” that screen applications. Every student who completes a submission will receive a one-year Google Gemini Pro licence and premium learning materials.
The ministry said the collaboration is intended to ensure 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 portal is open to students across accredited tertiary institutions in Nigeria. Applicants are expected to present concepts with clear prospects for scale and relevance to national or global needs.
Applications are to be submitted through the approved website.
