Minister of Education, Dr. Maruf Tunji Alausa
FG Launches Student Venture Capital Grant Offering Up to ₦50 Million for Innovations
The Federal Government has officially opened applications for the Student Venture Capital Grant (SVCG), a nationwide initiative providing equity-free funding of up to ₦50 million to student-led innovations and entrepreneurial projects.
The announcement was made on Monday by the Federal Ministry of Education, with a statement signed by Boriowo Folasade, Director of Press and Public Relations. The program is aimed at boosting innovation, fostering creativity, and helping young Nigerians turn their ideas into scalable businesses.
Speaking at the launch, Education Minister Tunji Alausa described the grant as part of the government’s drive to nurture the “next Nigerian Unicorn” from universities and colleges.
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“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,” Alausa said.
The initiative targets students working on projects in STEMM fields – Science, Technology, Engineering, Mathematics, and Medical Sciences – and aims to support ventures that address real-world challenges with commercial potential. Successful applicants will benefit from incubation, mentorship, and access to cutting-edge tools.
In partnership with Google, the program will leverage Gemini AI for automated application evaluation. Each applicant will also receive a one-year Gemini Pro licence and premium learning resources to kickstart their entrepreneurial journey.
The application portal is now open at svcg.education.gov.ng, and students in accredited tertiary institutions are encouraged to submit proposals demonstrating scalability, market relevance, and solutions to critical national or global challenges.
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