The Federal Government has launched the application portal for the Student Venture Capital Grant (S-VCG), an initiative that provides equity-free funding of up to ₦50 million to support student-led businesses.
The announcement was made by Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education.
According to the Minister of Education, Chief Dr. Tunji Alausa, the programme is part of the government’s commitment to identifying and supporting high-potential innovations emerging from higher institutions.
> “The President has tasked us with finding the next major breakthrough within our tertiary institutions. We are not just seeking projects—we are searching for future Nigerian unicorns that will be nurtured in our universities and colleges. This is an equity-free seed investment in Nigeria’s future,” he stated.
The grant targets student innovators in STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences—providing financial support of up to ₦50 million.
Originally announced in July and officially launched on August 2, the S-VCG (also called the STEMM Up Grant) forms part of the government’s Renewed Hope Agenda, aimed at transforming student innovations into commercially viable ventures with real social and economic impact.
Eligibility is limited to full-time undergraduate students in 300-level and above across accredited Nigerian tertiary institutions. Successful applicants will also gain access to mentorship, incubation programmes, and business development support to help scale their solutions.
The initiative is being implemented in collaboration with the Bank of Industry to ensure transparency, accountability, and measurable project outcomes.
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