Dr. Tunji Alausa, minister of Education, speaking at the launching of N50 million Student Venture Capital Grant (S-VCG)
The federal government has launched a N50 million Student Venture Capital Grant (S-VCG) to promote innovation, research, and entrepreneurship among tertiary students in Nigeria.
Speaking in Abuja, Minister of Education Tunji Alausa said the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda for Education and represents a national investment in young innovators.
Beneficiaries will receive up to N50 million in equity-free seed funding, alongside mentorship, incubation, networking, and startup tools. The programme targets full-time students at federal, state, and private universities from year three onward, with younger students permitted as team members. Ventures must be CAC-registered and STEMM-focused.
Applications are evaluated, and shortlisted teams pitch before a 12-member panel from academia, industry, and government. The S-VCG aims to accelerate research commercialisation, support intellectual property development, and nurture high-impact, globally relevant solutions.
Over 17,900 applications have been received from 402 institutions, with more than 1,000 formally submitted. The application portal, opened on November 17, will close on January 23, 2026.
Stakeholders, including the Bank of Industry, TETFund, Afara Initiative, Afrilabs, and Google, are collaborating to ensure successful implementation and cultivate a vibrant culture of creativity and enterprise among Nigerian students.
