The Federal Government has officially opened the application portal for the Student Venture Capital Grant (S-VCG), a groundbreaking national initiative aimed at transforming student-driven ideas into commercially viable and high-impact ventures.

The S-VCG forms a central pillar of the Renewed Hope Agenda and is designed to cultivate a new generation of Nigerian innovation entrepreneurs capable of redefining the nation’s economic future.

In a statement on Monday by the Director of Press, Folasade Boriowo, speaking at the announcement, the Minister of Education, Dr. Tunji Alausa, underscored the national importance of the initiative.

“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,” he stated.

At the heart of the S-VCG is the mandate to ignite and support student-driven innovation by funding ventures that address real-world challenges with clear potential for scale and commercialisation.

The scheme offers up to N50 million in equity-free grants to student founders with innovations in STEMM fields — Science, Technology, Engineering, Mathematics and Medical Sciences.

Successful applicants will also be absorbed into a comprehensive support ecosystem that includes intensive incubation programmes, expert mentorship from seasoned entrepreneurs and industry leaders, full access to tools, platforms and resources required to develop and scale their startups.

This strategic structure ensures that funded ventures are not only launched, but are supported to successfully transition into market-ready enterprises.

To position Nigerian students at the forefront of global innovation, the ministry is partnering with Google to integrate advanced technology into the S-VCG application and evaluation process.

Through this partnership, Google’s Gemini AI powers custom-built “evaluation agents” embedded directly into the application portal to ensure fair, intelligent and efficient review of submissions.

Additionally, every applicant who successfully submits a business project or innovation will receive a one-year free Google Gemini Pro licence, along with premium learning resources aimed at strengthening their entrepreneurial and technical capabilities.

According to the ministry, one of the key objectives of the partnership is to ensure that “our students begin their entrepreneurial journey with the very best tools available globally. We are building a powerful innovation funnel—from idea to market domination”.

All eligible Nigerian students enrolled in accredited tertiary institutions are encouraged to apply for this unprecedented opportunity through https://svcg.education.gov.ng.

Applicants are advised to submit proposals that demonstrate scalability, market relevance and potential to solve critical national or global challenges.