By Gabriel Ameh
Abuja, Nigeria — The Federal Government has officially unveiled a N50 million Student Venture Capital Grant (S-VCG), a landmark initiative designed to strengthen innovation, research excellence, and entrepreneurship across Nigeria’s tertiary institutions.
Speaking at the launch ceremony in Abuja on Monday, the Minister of Education, Dr. Tunji Alausa, described the new programme as “a strategic national investment in young innovators”, fully aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda for Education.
Dr. Alausa explained that the S-VCG goes far beyond ordinary grant support. Instead, it is a comprehensive innovation pipeline aimed at discovering high-potential ideas on university and polytechnic campuses, nurturing creativity, and empowering students to build viable, globally relevant ventures.
According to the minister, beneficiaries will receive up to N50 million in equity-free seed funding, as well as intensive incubation support, expert mentorship, and access to networks, tools, and resources needed to transform ideas into scalable solutions.
The initiative is jointly implemented by the Federal Ministry of Education and TETFund, in partnership with the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google.
Eligibility and Application Process
Dr. Alausa disclosed that the programme is open to full-time students in federal, state, and private tertiary institutions, beginning from Year 3 and above, while younger students may participate as members of a team.
To qualify, ventures must be registered with the Corporate Affairs Commission (CAC) and rooted in STEM and Medical Sciences fields including technology, engineering, biotech, health innovation, and related areas.
Applications will undergo rigorous evaluation, with shortlisted candidates pitching before a 12-member expert panel drawn from academia, industry, venture capital, and government. The panel will provide feedback and may merge complementary teams to promote collaboration and shared innovation.
Alausa noted that the programme aims to accelerate research commercialisation, strengthen intellectual property development, and inspire a new generation of Nigerian innovators.
“Not every idea will become a startup, but many will evolve into patents and licensable technologies capable of significant impact,” he said.
17,914 Applications Already Logged
National Programme Coordinator of the S-VCG, Mr. Adebayo Onigbanjo, revealed that the application portal has already recorded 17,914 pre-applications from 402 tertiary institutions comprising 346 public and 56 private schools with over 1,000 complete applications submitted.
He said the programme aims to close the investment gap preventing venture capitalists from funding early-stage student ideas, thereby igniting a new wave of campus-driven innovation.
Also speaking, former Minister of Power, Prof. Barth Nnaji, commended the initiative, noting its alignment with broader efforts to deepen scientific research and innovation in Nigeria.
“This is how students and their mentors can develop impactful inventions that serve global needs while solving local challenges,” Nnaji said.
The application portal, according to the News Agency of Nigeria, opened on November 17 and will close on January 23, 2026, with evaluation slated to begin immediately afterward.
