By Onyeanya Ebere Immaculata
The Federal Government on Monday launched a N50 million Student Venture Capital Grant (S-VCG), to boost innovation and entrepreneurship in tertiary institutions.
The scheme provides equity-free seed funding, mentorship, incubation support, and access to startup-building resources.
Announcing the initiative in Abuja, Minister of Education, Dr. Tunji Alausa, said the programme aligns with President Bola Tinubu’s Renewed Hope Agenda and is designed to identify and grow high-potential student ideas.
The grant is jointly driven by the Federal Ministry of Education, TETFund, the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google.
It is open to full-time students in federal, state, and private tertiary institutions from Year 3 upward, while younger students may join as team members. Ventures must be CAC-registered and STEM or medical-based.
A 12-member panel from academia, industry, venture capital, and government will evaluate shortlisted applicants.
Selected teams may be paired to encourage collaboration and accelerate research commercialisation.
National Programme Coordinator, Adebayo Onigbanjo, said the portal has received 17,914 applications from 402 institutions, with over 1,000 complete submissions.
He noted the programme aims to bridge early-stage funding gaps that hinder university innovators.
Former Minister of Power, Prof. Barth Nnaji, commended the initiative for promoting research-driven, locally relevant solutions.
According to NAN, applications close on January 23, 2026.