The Federal Government has officially opened the application portal for the Student Venture Capital Grant, a national innovation program offering up to ₦50 million in equity-free funding for student-led projects.

The announcement was made through a statement by the Federal Ministry of Education and signed by its Director of Press and Public Relations, Boriowo Folasade, on Monday.

Speaking at the launch, the Minister of Education, Tunji Alausa, said the initiative aligns with President Bola Tinubu’s push to spark groundbreaking ideas in Nigerian tertiary institutions.

According to him:

“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. This is an equity-free seed investment in Nigeria’s future.”

Who the Grant Targets

The ministry explained that the scheme is specifically designed for students working on innovations within STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences.

The goal is to fund solutions with real-world impact, clear potential for growth, and the ability to scale into commercially viable ventures.

Beyond funding, successful applicants will also receive:

Incubation support

Expert mentorship

Access to tools and industry resources

Google Partners with FG for Evaluation

To enhance the integrity and efficiency of the process, the ministry announced a partnership with Google. As part of this collaboration:

Google’s Gemini AI will handle automated screening of applications.

Every applicant will receive a free one-year Gemini Pro licence.

Students will also get access to premium learning resources.

The ministry said this partnership ensures that Nigerian students begin their entrepreneurial journey “with the best tools available globally,” adding that the initiative aims to build a strong pipeline of innovations that can advance from prototypes to market domination.

Application Portal Now Open

The application portal is now live at: svcg.education.gov.ng

Students in accredited tertiary institutions are encouraged to submit proposals that demonstrate:

Scalability

Market relevance

Potential to solve major national or global problems

The Federal Government says the program is part of its broader plan to cultivate homegrown innovators capable of transforming Nigeria’s future.