Fatimah Otunsanya
The Federal Government has opened the application portal for the Student Venture Capital Grant, a new national initiative aimed at supporting student-led innovation with equity-free grants of up to ₦50m.
The announcement was made in a statement issued by the Federal Ministry of Education and signed by Boriowo Folasade, Director of Press and Public Relations on Monday.
At the launch, the Minister of Education, Tunji Alausa, said the initiative was central to the government’s innovation drive.
In his words, “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.”
The ministry said the grant is targeted at students building innovations in STEMM fields, Science, Technology, Engineering, Mathematics and Medical Sciences.
It was stated that the initiative is designed to “ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialisation.”
It added that successful applicants will be placed in a full support system that includes incubation, mentorship and access to tools.
The ministry also announced a partnership with Google to strengthen the programme’s evaluation process.
It stated that one of the objectives is 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 statement further explained that Google’s Gemini AI will power automated evaluation on the portal, and that every applicant will receive a free one-year Gemini Pro licence and premium learning resources.
The portal for applications is now open at svcg.education.gov.ng, and students in accredited tertiary institutions are encouraged to apply.
According to the ministry, applicants are advised to submit proposals that demonstrate “scalability, market relevance, and potential to solve critical national or global challenges.”