The federal government has launched a N50 million Student Venture Capital Grant (S-VCG) to promote innovation, research excellence, and entrepreneurship across Nigeria’s tertiary institutions. The programme aims to empower 250,000 students in its first cohort, with over 100,000 already enrolled and receiving training in 1,620 centres nationwide.
Unveiling the initiative in Abuja, Minister of Education, Dr. Tunji Alausa, described the S-VCG as a strategic step to nurture young innovators and strengthen the national innovation ecosystem. The application portal, which opened on November 17, will close on January 23, 2026, after which evaluation will commence.
Alausa said the programme aligns with President Bola Tinubu’s Renewed Hope Agenda for Education and is designed to identify high-potential ideas on campuses while fostering creativity, enterprise, and economic independence among students. Beneficiaries will receive up to N50 million in equity-free seed funding, alongside intensive incubation, mentorship, and access to startup-building tools and networks.
The initiative is jointly implemented by the Federal Ministry of Education and Tertiary Education Trust Fund (TETFund), in collaboration with 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 and above, with younger students allowed as team members.
“The S-VCG is structured to identify exceptional talent, give them a fair and credible opportunity to succeed, and inspire thousands of others to believe in their capacity to innovate,” Alausa said. Eligible ventures must have a CAC-registered business name and focus on Science, Technology, Engineering, Mathematics, or Medical Sciences. Shortlisted teams will pitch before a 12-member expert panel from academia, industry, venture capital, and government, with selected participants possibly paired with complementary teams to encourage collaboration.
Mr. Adebayo Onigbanjo, National Programme Coordinator, said the initiative seeks to ignite student-driven innovation and address investment gaps that have hindered early-stage university ventures. The portal has so far received 17,914 applications from 402 institutions, with over 1,000 fully submitted.
Former Minister of Power, Prof. Barth Nnaji, commended the initiative, highlighting its potential to deepen scientific research and produce inventions that solve local problems while meeting global needs. The S-VCG is expected to accelerate research commercialisation, support intellectual property development, and position students to create high-impact solutions with global relevance.
