The Federal Government has officially opened the application portal for the Student Venture Capital Grant (S-VCG), a fresh initiative designed to support promising student innovators with equity-free funding of up to ₦50 million.

The announcement was made by Boriowo Folasade, Director of Press and Public Relations at the Ministry of Education.

According to the Minister of Education, Chief Dr. Tunji Alausa, the programme is part of a wider push to uncover groundbreaking ideas within Nigerian campuses and turn them into high-impact ventures.

“The President has challenged us to search for the next big global innovation within our tertiary institutions. We are not just seeking projects, but future Nigerian unicorns,” Alausa said.

The grant focuses on students creating solutions in STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences. It is structured as an equity-free seed investment under the government’s Renewed Hope Agenda, first announced in July and launched formally on August 2.

The S-VCG is open to:

Full-time undergraduates from 300-level and above

Students in accredited universities, polytechnics, and colleges of education (public or private)

Individuals or teams whose projects fall within STEMM and have advanced beyond the proof-of-concept stage

Applicants do not need a registered company to apply, but the project must eventually carry a CAC-registered business name.

Successful applicants will receive more than just funding they will also get mentorship, incubation support, and business development assistance. The programme is run in partnership with the Bank of Industry (BOI) to ensure transparency and measurable impact.

The initiative covers student innovators across the 36 states and the FCT, ensuring nationwide participation.

Science: biotech, agriculture, experimental research applications

Technology: software, AI solutions, hardware, digital platforms

Engineering: machinery, sustainable structures, industrial technologies

Mathematics: analytics, modeling, data-driven innovations

Medical Sciences: health-tech, medical devices, public health innovations

Students can apply through the official portal:

https://svcg.education.gov.ng

1. Submit your business

Upload your business concept, pitch video, and funding request on the portal.

2. Application review & feedback

Entries go through several review stages. Even if not selected, applicants get feedback and their projects remain visible on the Innovation Repository.

3. Validation stage

Shortlisted teams refine their ideas, strengthen business models, and prepare for milestone-based support.

4. Receive milestone-based funding

Approved applicants receive funds in tranches as they hit agreed milestones. Progress is monitored transparently throughout incubation.

Early applicants will also receive a one-year Google Gemini Pro & Advanced license to support their work.