The Federal Government of Nigeria has officially launched the Student Venture Capital Grant, an ambitious new programme aimed at supporting student-led innovations and startups. This initiative provides equity-free grants of up to ₦50 million to student entrepreneurs across the country, ensuring they have the financial backing to turn innovative ideas into viable businesses.
The programme, which was announced by the Ministry of Education, specifically targets innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences b. The focus is on encouraging students to develop projects that have the potential to address pressing societal challenges while fostering a culture of entrepreneurship within tertiary institutions.
Education Minister Tunji Alausa emphasized the significance of the initiative, stating: “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.” The grant is intended to support ventures with a clear path to scale and commercialisation, giving students the opportunity to transform their innovative ideas into market-ready solutions.
Full support system for beneficiaries
Beyond financial support, successful applicants will gain access to a comprehensive ecosystem designed to nurture their ventures. This includes mentorship from experienced entrepreneurs, access to incubation centres, and tools and resources to strengthen their business models and operational capabilities. The Ministry also highlighted a strategic partnership with Google to enhance the programme’s evaluation and support systems.
Google’s Gemini AI platform will be used to power automated assessments of applications, ensuring a fair, objective, and efficient selection process. In addition, all applicants will receive a one-year Gemini Pro licence, providing access to premium learning resources and AI-driven tools to help refine their projects and improve their potential for success.
The Ministry explained, “Our goal is to ensure students begin their entrepreneurial journey with the best tools globally. We are building a powerful innovation funnel from idea to market domination.” Applicants are expected to demonstrate scalability, relevance to the market, and the ability to solve critical national or global challenges, positioning them to make significant societal and economic impacts.
How to apply
The application portal for the Student Venture Capital Grant, svcg.education.gov.ng, is now open to students enrolled in accredited tertiary institutions across Nigeria. Interested participants are encouraged to submit proposals promptly, ensuring that all required documentation and information are complete to facilitate smooth evaluation and consideration for funding.
This initiative represents a strategic step by the Nigerian government to foster innovation, support young entrepreneurs, and create opportunities for students to play an active role in the nation’s economic growth and technological development. By combining financial support with mentorship and access to advanced tools, the programme aims to cultivate a new generation of Nigerian innovators capable of building successful startups that can compete on both national and global stages.
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