The Federal Government has opened the application portal for the Student Venture Capital Grant, a new national programme that provides equity-free funding of up to ₦50m to support innovation in tertiary institutions.
The Ministry of Education confirmed the launch in a statement signed by its Director of Press and Public Relations, Boriowo Folasade, on Monday.
The initiative is targeted at students developing solutions in Science, Technology, Engineering, Mathematics and Medical Sciences.
During the unveiling, the Minister of Education, Tunji Alausa, said the programme forms part of the administration’s broader push to strengthen innovation across the country.
He noted that the government wants to identify young creators whose ideas can grow into national assets.
He said, “The President has challenged us to look for the next Moonshot within our tertiary institutions. We are not just looking for projects, we are scouting for future Nigerian Unicorns whose roots will be planted right here in our universities and colleges. This is an equity-free seed investment in Nigeria’s future.”
The ministry explained that the grant is designed to support student ventures that offer practical solutions with potential for scale and commercial success. It added that beneficiaries will receive incubation support, mentorship and access to tools.
The ministry also announced a partnership with Google to enhance the evaluation process.
According to the statement, one of the goals is to equip students with global-standard tools as they begin their entrepreneurial journey. It noted that Google’s Gemini AI will power automated assessment on the portal and that every applicant will receive a free one-year Gemini Pro licence along with premium learning resources.
The application portal, svcg.education.gov.ng, is now active. Students in accredited tertiary institutions are encouraged to submit proposals that show clarity, market relevance and capacity to solve national or global challenges.
