The federal government has introduced the ₦50 million Student Venture Capital Grant (S-VCG), a new initiative aimed at empowering innovative students and propelling student led startups nationwide.
The minister of education, Tunji Alausa, on Monday, December 8, launched the initiative in Abuja as part of president Bola Tinubu’s renewed hope agenda, which seeks to empower young people and boost innovation across the country.
Alausa explained that the S-VCG is designed to nurture student-led startups by offering funding, mentorship, incubation, and increased visibility.
“Beneficiaries will receive up to ₦50 million in equity-free seed funding, along with an intensive incubation programme and mentorship from experienced entrepreneurs and industry experts,” he said.
The grant is open to students in federal, state, and private tertiary institutions from 300 level and above including master’s and PhD candidates.
However, applicants must have Corporate Affairs Commission (CAC) registered businesses and projects in the STEMM fields: Science, Technology, Engineering, Mathematics, and Medical Sciences.
The application portal, which opened on 17 November, will close on 23 January 2026.
Shortlisted applicants will move to a second stage, where they will pitch their business ideas to a panel of 12 industry professionals.
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