The Federal Government has officially opened the application portal for S-VCG, the Student Venture Capital Grant (S-VCG), which is a nationwide initiative that provides the possibility of equity-free financing of as much as N50 million for students in Nigerian tertiary institutions. The program focuses on innovative concepts that are based on science, technology, engineering, and mathematics, as well as medical sciences (STEMM), and is designed to help the future generation of entrepreneurs with high impact.
It was announced in an official statement that was signed by Boriowo Folasade, director for Press and Public Relations at the Federal Ministry of Education.
In the words of Minister of Education Dr. Tunji Alausa, the program is a part of the state’s strategy for innovation and is aligned closely with the Renewed Hope Agenda to find and foster innovative ideas from students that are commercially viable.
Alausa claimed that the program represents an open threat to Nigeria’s tertiary institutions:
“We are scouring for the future Nigerian unicorns whose roots are set to be planted in our colleges and universities. This is a non-equity seed investment into the future of Nigeria.”
The program, dubbed The STEMM-Up Grant, is geared towards empowering undergraduates who are full-time and at the 300 level and above at accredited polytechnics, universities, andcolleges of education. The successful applicants will be awarded:
- Up to ₦50 million equity-free funding
- Incubation and mentorship
- Product development support
- Business development and market access
- Investor readiness training
The programme is executed in partnership with the Bank of Industry (BoI) to ensure accountability, transparency, and measurable outcomes.
AI-Powered Evaluation with Google Gemini
In order to improve the efficiency of evaluations and fairness, the Ministry has partnered to improve the efficiency and fairness of evaluations; it partnered with Google in integrating Gemini AI into the screening system. This will allow the review of hundreds of applications and evaluate the applicants based on their innovation power relevant to the market, as well as practicality.
Every applicant is also provided with:
- A one-year Gemini Pro license
- Access to high-quality digital learning resources
This is intended to increase digital literacy as well as support research in the academic field and help with project development.
Eligibility Criteria
Applicants must:
• Be full-time undergraduates in 300 level or above
• Be enrolled in an accredited tertiary institution
• Lead or co-lead an innovation in STEMM fields
• Demonstrate evidence of a scalable, impactful idea
• Present a proposal targeted at addressing local or global challenges
How to Apply for the ₦50 Million Student Venture Capital Grant
1. Visit the Application Portal and click Apply Now
Create an account using valid personal and institutional details.
2. Provide Academic and Project Information
Fill in institution name, level, department, project category, team information, and related details.
3. Upload Your Innovation Proposal
Proposal should contain:
• Problem statement
• Proposed solution
• Prototype or concept description
• Target market
• Scalability strategy
• Expected social or economic impact
4. Upload Supporting Documents
These may include:
• Student ID
• Admission letter or proof of enrolment
• Evidence of previous work or prototype
• Pitch deck or concept note
5. Complete the Screening Assessment
Applicants may undergo an AI-assisted evaluation that reviews clarity, innovation, and feasibility.
6. Await Shortlisting
Experts at the Ministry and BoI will review AI-shortlisted applicants. Additional information may be requested.
7. Participate in Pitch Sessions
Shortlisted candidates will take part in mentorship sessions, technical reviews, and pitching.
8. Grant Award and Disbursement
Successful candidates will receive:
• Up to ₦50 million equity-free funding
• Incubation support
• Mentorship and product development guidance
Disbursement will be milestone-based.
Summary Table
| Category | Details |
|---|---|
| Programme Name | Student Venture Capital Grant (S-VCG) / STEMM Up Grant |
| Funding Amount | Up to ₦50 million equity-free |
| Eligible Applicants | 300-level and above undergraduates |
| Eligible Fields | Science, Technology, Engineering, Mathematics, Medical Sciences |
| Support Package | Funding, incubation, mentorship, digital tools |
| Evaluation Partner | Google (Gemini AI) |
| Implementation Partner | Bank of Industry |
| Application Portal | svcg.education.gov.ng |
Conclusion
The Student Venture Capital Grant is a major step in empowering Nigeria’s innovative entrepreneurs. With mentorship, financial aid, and AI-driven evaluation,the Federal Government aims to identify innovative solutions led by students that are capable of becoming Nigeria’s next successful ventures.
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