KEY POINTS
- The grant provides up to N50 million in equity-free funding for student ventures.
- Beneficiaries receive mentorship, incubation, and access to networks and startup tools.
- The programme targets STEM-focused students and supports research commercialisation.
The Federal Government has unveiled a N50 million Student Venture Capital Grant (S-VCG) aimed at fostering innovation, research excellence, and entrepreneurship across Nigeria’s tertiary institutions.
The programme seeks to nurture young innovators and accelerate the commercialisation of research. Speaking at the launch in Abuja on Monday, Education Minister Dr. Tunji Alausa described the S-VCG as more than a funding scheme, emphasizing that it represents a strategic national investment aligned with President Bola Tinubu’s Renewed Hope Agenda for Education.
Equity-Free Funding and Mentorship for Student Innovators
The initiative provides up to N50 million in equity-free seed funding to selected student ventures. Beneficiaries will also gain intensive incubation, expert mentorship, and access to networks and startup-building tools. The programme targets full-time students in federal, state, and private tertiary institutions from Year 3 and above, with younger students permitted as team members.
Alausa said the grant is designed to identify exceptional talent and inspire thousands of students to believe in their innovative potential. “We know many successful founders did not thrive on their first attempt, but their journey began with a spark. While this programme exists to light that spark,” he said.
The Federal Ministry of Education and TETFund jointly implement S-VCG in collaboration with the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google.
Furthermore, eligible ventures must have a CAC-registered business name and focus on Science, Technology, Engineering, Mathematics, or Medical Sciences. A 12-member expert panel of academics, industry professionals, venture capitalists, and government representatives will evaluate applications. Shortlisted teams will pitch their ideas, and organizers may pair them with complementary teams to encourage collaboration.
Thousands of Applications Already Received
Mr. Adebayo Onigbanjo, National Programme Coordinator for S-VCG, said the programme had already received 17,914 applications from 402 institutions, including 346 public and 56 private schools. More than 1,000 applications were formally submitted for review.
Former Minister of Power Prof. Barth Nnaji, who chairs a board awarding $100,000 annually for scientific innovation, praised the initiative, noting its potential to deepen scientific research and drive locally relevant solutions with global impact. The application portal opened on November 17 and will close on January 23, 2026, with the evaluation process beginning immediately after.
Alausa said the programme aims to accelerate research commercialisation, foster intellectual property development, and position students to deliver high-impact solutions. “Not every idea will become a startup, but some will evolve into patents and licensable technologies capable of significant impact,” he added.
The S-VCG also represents a major step in bridging the funding gap that has historically limited early-stage student innovations from attracting venture capital.
