FG Opens N50 Million Student Venture Capital Grant to Support Innovation in Tertiary Institutions

FG LAUNCHES ‘NEXT MOONSHOT’ INITIATIVE, OPENS APPLICATION PORTAL FOR N50 MILLION STUDENT VENTURE CAPITAL GRANT (S-VCG)

The Federal Government of Nigeria has opened applications for the Nigeria N50 million Student Venture Capital Grant through the Federal Ministry of Education. The programme supports students who want to turn practical ideas into ventures with strong market potential. The grant aligns with the Renewed Hope Agenda and promotes youth driven innovation intended to strengthen the country’s economic growth.

Speaking at the announcement, the Honourable Minister of Education, Chief Dr. Tunji Alausa FAMedS, CON, underscored the national importance of the initiative. “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,” he stated.

Igniting Innovation with N50 Million Equity-Free Grants

At the heart of the S-VCG is the mandate to ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialization. The scheme offers up to N50 million in equity-free grants to student founders with innovations in STEMM fields Science, Technology, Engineering, Mathematics, and Medical Sciences.

Successful applicants will also be absorbed into a comprehensive support ecosystem that includes:

Intensive Incubation Programs

Expert Mentorship from seasoned entrepreneurs and industry leaders

Full Access to Tools, Platforms and Resources required to develop and scale their startups

This strategic structure ensures that funded ventures are not only launched but are supported to successfully transition into market-ready enterprises.

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Strategic Partnership with Google for a Global Advantage

To position Nigerian students at the forefront of global innovation, the Ministry is partnering with Google to integrate advanced technology into the S-VCG application and evaluation process. Through this partnership, Google’s Gemini AI powers custom-built “evaluation agents” embedded directly into the application portal to ensure fair, intelligent, and efficient review of submissions.

Additionally, every applicant who successfully submits a business project or innovation will receive a one-year free Google Gemini Pro license, along with premium learning resources aimed at strengthening their entrepreneurial and technical capabilities.

Also Read: Top 12 Fully Funded Global Opportunities for Africans 2026/2027 Open Now

According to the Ministry, one of the key objectives of the partnership 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.”

Application Now Open

All eligible Nigerian students enrolled in accredited tertiary institutions are encouraged to apply for this unprecedented opportunity.

The official application portal for Nigeria N50 million Student Venture Capital Grant is now open.

Applicants are advised to submit proposals that demonstrate scalability, market relevance, and potential to solve critical national or global challenges.

Eligibility

• You must be a student currently enrolled in a Nigerian tertiary institution — that includes universities, polytechnics, and colleges of education.
• You must be at least 300 level (or its equivalent) at your institution. however all students can be members of a team led by a 300 level and above student.
• Can students in lower levels apply?
  Yes, but you’ll need to team up with a student in 300 level or above. Your team’s company or project submission must include them as a co-founder or partner.
• We’re looking for ideas, solutions, projects, or businesses that fall under STEMMS — that’s Science, Technology, Engineering, Mathematics, and Medical Sciences.

How to Apply for S-VCG Works

Submit Your Business
Students or teams upload their business details, pitch video, and funding request through the S-VCG application portal.

Get Reviewed & Receive Feedback
Applications go through multiple review rounds. Even non-selected projects receive structured feedback and remain visible in the Innovation Repository.

Also Read: Commonwealth Shared Scholarship 2026/27: Fully Funded Master’s Study in the UK for Developing Countries

Validate & Refine Your Solution
Shortlisted teams work through a structured validation process to refine their solution, strengthen their business model, and prepare for milestone activation.

Receive Milestone-Based Funding
Approved teams unlock funding in tranches upon reaching specific milestones, tracked transparently through the S-VCG system and incubation period.