Apply: Federal Government Unveils N50m Equity-Free Funding for University and Polytechnic Innovators Students

The Federal Government has introduced a N50 million Student Venture Capital Grant designed to strengthen innovation, research, and entrepreneurship across Nigeria’s higher institutions. The initiative was officially unveiled in Abuja and is positioned as a major investment in student-led creativity and high-impact solutions.

The Minister of Education, Dr. Tunji Alausa, described the programme as a strategic pillar under the administration’s education agenda, noting that it will help unlock the potential of young innovators in universities, polytechnics, and colleges of education nationwide.

According to Alausa, the scheme goes beyond financial support. It provides equity-free seed funding of up to N50 million, intensive incubation, mentorship from seasoned industry professionals, and direct access to networks that can help transform ideas into scalable ventures.

The programme is jointly executed by the Ministry of Education, TETFund, the Bank of Industry, Afara Initiative, Afrilabs, Google, and several entrepreneurship development partners. It is open to full-time students in federal, state, and private tertiary institutions from Year 3 and above, with younger students eligible to participate as part of a team.

Alausa emphasized that the grant aims to identify exceptional talent and give students a fair opportunity to build solutions with global value. He noted that not all ideas will transform into startups, but many will evolve into patents, licensable technologies, and impactful innovations.

Eligible applicants must operate a CAC-registered business and focus on fields such as Science, Technology, Engineering, Mathematics, and Medical Sciences. Every submission will undergo a thorough evaluation process, and shortlisted teams will pitch before a 12-member panel made up of experts from academia, industry, venture capital, and government.

Participants may also receive feedback and be paired with complementary teams to encourage collaboration and cross-disciplinary innovation. The grant is expected to boost research commercialisation and strengthen the country’s capacity to develop homegrown solutions.

The National Programme Coordinator for the S-VCG, Mr. Adebayo Onigbanjo, said the initiative was created to address the limited funding opportunities that university innovators often face. He revealed that the portal has already recorded 17,914 applications from 402 tertiary institutions across Nigeria.

Former Minister of Power, Prof. Barth Nnaji, praised the programme for aligning with national efforts to deepen scientific research and build inventions that meet local and global needs.

The application portal opened on November 17 and will close on January 23, 2026, after which the evaluation stage will begin.