FG Opens Student Venture Capital Grant, Offers ₦50m Funding to Student

ABUJA, Nigeria – The Federal Government has opened applications for the second cohort of the Student Venture Capital Grant (S-VCG), with up to ₦50 million in equity-free funding available for each of 50 student-led ventures across Nigeria.

The initiative, championed by the Minister of Education, Dr. Tunji Alausa, forms part of the Tinubu administration’s efforts to promote innovation, entrepreneurship and commercialisation of research among students under the Nigeria Education Sector Renewal Initiative (NESRI).

Speaking ahead of the nationwide campus mobilisation campaign scheduled for September 6 to 30, National Project Coordinator of the S-VCG, Adebayo Onigbanjo, said the outreach would encourage students developing solutions in science, technology, engineering, mathematics and medicine (STEMM) to participate in the programme.

The mobilisation campaign will cover nine tertiary institutions across Nigeria’s six geopolitical zones, including the University of Abuja, Nile University, Abubakar Tafawa Balewa University, Bayero University Kano, Kano University of Science and Technology, Federal Polytechnic Nekede, Ambrose Alli University, the University of Lagos and Covenant University.

The programme will also deploy Campus Ambassadors in 20 additional institutions to broaden awareness among students nationwide.

The Ministry of Education has urged vice-chancellors, rectors, provosts, lecturers and student leaders to identify promising innovators and encourage them to apply.

To strengthen transparency and improve the quality of selected projects, applications will undergo AI-assisted screening before assessment by 10 human evaluators.

Shortlisted applicants will make virtual presentations before an evaluation committee, while finalists will participate in a bootcamp and pitch their businesses before venture capitalists, industry experts and academic leaders.

Successful beneficiaries will also participate in a six-month mentorship programme that will connect them with experienced entrepreneurs and organisations across technology, healthcare, logistics, education, agriculture, e-commerce and related sectors.

Partner organisations include Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity and OneHealth.

The second cohort builds on the success of the programme’s inaugural edition, which attracted 17,914 registrations from 404 tertiary institutions across Nigeria within three weeks of opening.

Following AI screening and expert evaluation, 65 finalists participated in a three-day bootcamp in March 2026 before presenting their ventures to investors and industry leaders.

The S-VCG, popularly known as the Next Moonshot Initiative, is implemented by the Federal Ministry of Education in partnership with the Tertiary Education Trust Fund (TETFund), the Bank of Industry (BOI) and the Afara Initiative.

Eligible applicants must be students in Nigerian universities, polytechnics or colleges of education, be at least in 300 level or its equivalent, operate a CAC-registered business and demonstrate that their innovations have progressed beyond the proof-of-concept stage.

Applications remain open until September 30, 2026.