——– Says the initiative is designed to drive research commercialisation, strengthen intellectual property development, and equip student founders to build globally competitive solutions.
The Federal Government has launched the Student Venture Capital Grant (S-VCG), a groundbreaking N50 million initiative aimed at accelerating innovation, entrepreneurship, and research excellence across Nigeria’s tertiary institutions.
Announcing the programme in Abuja, the Minister of Education, Dr. Tunji Alausa, described the S-VCG as a strategic investment in young innovators, fully aligned with President Bola Tinubu’s Renewed Hope Agenda for transforming the education sector.
He noted that the initiative goes beyond funding, serving as a platform to spotlight high-potential ideas emerging from campuses nationwide.
Through the S-VCG, selected student-led ventures will access equity free seed funding of up to N50 million, in addition to structured incubation, expert mentorship, and entry into top innovation networks.
The programme is jointly implemented by the Federal Ministry of Education and TETFund, with support from the Bank of Industry, Afara Initiative, Afrilabs, Google, and the Entrepreneurship and Skills Development Centre.
Open to full-time students from 300 level and above across federal, state, and private institutions the programme welcomes younger students as team contributors.
To qualify, ventures must be registered with the Corporate Affairs Commission (CAC) and anchored in Science, Technology, Engineering, Mathematics, or Medical Sciences (STEMM).
Dr. Alausa explained that applicants will undergo a rigorous multi-stage evaluation, culminating in live pitches before a 12-member expert panel representing academia, industry, venture capital, and government. Participants will receive detailed feedback, with opportunities for team pairing to encourage collaboration.
While not all ideas will mature into startups, he noted that many may evolve into patents or licensable technologies with significant value.
Since its launch, the S-VCG has attracted 17,914 applications from 402 tertiary institutions across the country, with over 1,000 completed submissions so far.
Former Minister of Power, Prof. Barth Nnaji, lauded the initiative, highlighting its alignment with national goals to deepen scientific research and foster inventions that solve local challenges while addressing global needs. His foundation annually awards a $100,000 prize for groundbreaking scientific innovation.
The application portal, opened on November 17, will remain active until January 23, 2026, after which evaluations will commence immediately.