Apply Now: FG Opens Application Portal for ₦50m Student Innovation Grant Under New Venture Capital Scheme

The Federal Government has officially opened the application portal for the Student Venture Capital Grant, a national programme designed to support student innovators with equity-free funding of up to ₦50 million.

The announcement was issued by the Federal Ministry of Education, confirming that the initiative is now live and accepting submissions from students in accredited tertiary institutions.

Speaking at the launch of the programme, the Minister of Education, Tunji Alausa, described the initiative as a major step toward strengthening Nigeria’s innovation ecosystem. He stated that the government is committed to discovering groundbreaking ideas within universities and colleges and positioning young Nigerians to build globally competitive ventures.

According to him, the President has directed the education sector to identify and support transformative student projects with the potential to scale into major tech-driven enterprises. He noted that the new grant represents an equity-free investment in the country’s future innovators.

Grant Targets STEMM Innovators Nationwide

The ministry explained that the fund is specifically targeted at students developing projects in Science, Technology, Engineering, Mathematics, and Medical Sciences. It added that the programme aims to support ventures designed to solve real-world problems with strong prospects for commercialisation and long-term growth.

Successful applicants will receive more than financial support. The initiative includes business incubation, expert mentorship, access to development tools, and a structured innovation pipeline to help students move from concept to market-ready solutions.

Ministry Partners With Google for AI-Powered Evaluation

As part of efforts to ensure a transparent and efficient selection process, the government announced a partnership with Google. Through this collaboration, Google’s Gemini AI will handle automated preliminary evaluations on the application portal.

Every applicant will also receive a free one-year Gemini Pro licence along with premium learning resources to support their entrepreneurial growth.

The ministry noted that the goal is to provide Nigerian students with world-class tools to begin building and refining innovative ideas capable of achieving market leadership.

Application Portal Now Open

The portal for the Student Venture Capital Grant is open at svcg.education.gov.ng. Eligible students are encouraged to apply and submit proposals that demonstrate strong market relevance, scalability, and the capacity to address critical national or global challenges.

The government emphasized that the programme is part of a broader push to empower young innovators, stimulate job creation, and strengthen the country’s technology and research landscape.