The Federal Government of Nigeria has formally activated the application portal for a new nationwide initiative known as the Student Venture Capital Grant, a programme created to provide equity-free financial support of up to Fifty Million Naira to students developing transformative ideas.
Okay News reports that the initiative, unveiled by the Federal Ministry of Education, was announced through an official statement issued by the Director of Press and Public Relations, Boriowo Folasade.
During the launch, the Minister of Education, Tunji Alausa, emphasised that the programme forms a major pillar in the government’s renewed commitment to supporting innovation within Nigerian tertiary institutions. He said, “The President has challenged us to look for the next Moonshot within our tertiary institutions.”
Expanding on the goal, the Minister added, “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 clarified that the grant specifically targets students in STEMM fields, which include Science, Technology, Engineering, Mathematics, and Medical Sciences. Officials explained that the initiative was created to “ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialisation.”
According to the ministry, beneficiaries will be enrolled in a comprehensive support ecosystem comprising mentorship, incubation opportunities, and direct access to technical tools that can accelerate their work.
As part of efforts to strengthen evaluation and transparency, the Federal Ministry of Education announced a strategic collaboration with Google. The statement indicated that this partnership aims 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.”
Furthermore, Google’s Gemini Artificial Intelligence system will automate parts of the project evaluation process on the portal. Every applicant will also receive a complimentary one-year Gemini Pro licence together with premium learning materials to enhance capacity building.
The application portal, svcg.education.gov.ng, is now open, and eligible students from accredited tertiary institutions are encouraged to submit entries. Authorities advised applicants to focus on proposals that demonstrate “scalability, market relevance, and potential to solve critical national or global challenges.”
