Abuja: The Federal Government has officially opened the application portal for the Students’ Venture Capital Grant (S-VCG), aimed at transforming student-driven ideas into commercially viable, high-impact ventures.
According to News Agency of Nigeria, this is contained in a statement issued in Abuja by Mrs. Folasade Boriowo, Director, Press and Public Relations, Federal Ministry of Education. Boriowo quoted the Minister of Education, Dr. Tunji Alausa, who emphasized that the S-VCG forms a central pillar of the Renewed Hope Agenda. Alausa highlighted the national importance of the initiative, noting that it was designed to cultivate a new generation of Nigerian innovation entrepreneurs capable of redefining the nation’s economic future.
Dr. Alausa shared that the President had challenged the ministry to seek out the next significant innovation within tertiary institutions, aiming to support potential Nigerian unicorns emerging from universities and colleges. He described the scheme as an equity-free seed investment in Nigeria’s future, offering up to N50 million in grants to student founders with innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM) fields.
He further explained that successful applicants would be integrated into a comprehensive support ecosystem that includes incubation programs, expert mentorship from seasoned entrepreneurs and industry leaders, and access to necessary tools and resources for startup development and scaling.
To enhance the initiative’s effectiveness, the ministry has partnered with Google to incorporate advanced technology into the S-VCG application and evaluation process. Google’s Gemini AI will power custom-built ‘evaluation agents’ within the application portal to ensure a fair, intelligent, and efficient review of submissions. Additionally, applicants who successfully submit a business project or innovation will receive a one-year free Google Gemini Pro license and access to premium learning resources to strengthen their entrepreneurial and technical skills.
Dr. Alausa urged all eligible Nigerian students enrolled in accredited tertiary institutions to apply for this opportunity. He advised applicants to submit proposals demonstrating scalability, market relevance, and the potential to address critical national or global challenges. The official application portal is accessible at https://svcg.education.gov.ng.