The Federal Government has opened applications for the Student Venture Capital Grant, a new programme that offers equity-free funding of up to ₦50m to support innovation in tertiary institutions.
The Federal Ministry of Education announced the launch on Monday in a statement signed by its Director of Press and Public Relations, Boriowo Folasade. The ministry said the grant is part of efforts to promote early-stage ventures built by students in science and technology fields.
At the event, the Minister of Education, Tunji Alausa, said the initiative aligns with the government’s plan to push innovation across universities and colleges. He noted that the President had challenged the ministry to “look for the next Moonshot within our tertiary institutions” and seek out future high-growth companies founded by students.
The grant targets projects in Science, Technology, Engineering, Mathematics and Medical Sciences. According to the ministry, the programme will support ventures that tackle real-world problems and show potential to expand into viable commercial products.
Successful applicants will receive incubation support, mentorship and access to tools. The ministry said this structure would help students develop ideas into market-ready solutions.
It also confirmed a partnership with Google to improve the programme’s evaluation system. Google’s Gemini AI will screen applications on the portal, while all applicants will receive a free one-year Gemini Pro licence and access to premium learning materials.
The application portal is now live at svcg.education.gov.ng. Students in accredited tertiary institutions are eligible to apply. The ministry advised applicants to submit proposals that show a clear path to growth and address national or global challenges.
