FG opens portal for N50m student venture grant

The Federal Government has opened the application portal for the Student Venture Capital Grant (S-VCG), a programme designed to support student-led ventures with equity-free grants of up to ₦50 million.

The initiative was announced in a statement by Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education.

According to the Minister of Education, Chief Dr. Tunji Alausa, the programme is part of the government’s effort to discover high-potential innovations within higher institutions.

“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 whose roots will be planted right here in our universities and colleges. This is an equity-free seed investment in Nigeria’s future,” he said.

The Ministry noted that the grant provides up to ₦50 million to student innovators in STEMM fields—Science, Technology, Engineering, Mathematics, and Medical Sciences.

The S-VCG, also known as the STEMM Up Grant, was first announced in July and officially launched on August 2. It forms part of the government’s Renewed Hope Agenda, aimed at nurturing student innovations into commercially viable, high-impact ventures.

The grant specifically targets full-time undergraduate students in 300-level and above across accredited Nigerian tertiary institutions. Successful applicants will also receive mentorship, incubation support, and business development services to scale their ventures and tackle real-world challenges.

The programme is being implemented in partnership with the Bank of Industry to ensure transparency, accountability, and measurable outcomes.

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