Federal Government Launches #50m Grant Initiative for Tertiary Students’ Innovation Projects

The Federal Government on Monday launched theStudent Venture Capital Grant (S-VCG), a 50 million naira initiative aimed at promoting entrepreneurship, research innovation across Nigeria’s tertiary institutions.
The Minister of Education, Dr Tunji Alausa speaking on Monday at Abuja described the venture as a means of promoting and encouraging scientific innovations. 

He explained that the S-VCG was more than just a grant scheme, but a platform to raise, develop and discover potential ideas and creativity springing from Nigerian students on campuses.
The initiative is a collaborative effort of the Federal Ministry of Education and TET Fund, in partnership with the Bank of Industry, Afrilabs, Afara Initiative, the Entrepreneurship and Skills Development Centre, and Google.
Recipients of the S-VCG will receive up to #50 million in equity- free seed funding, along with intensive incubation support, expert mentorship, and access to networks and advanced startup tools.
The minister stated the programme  was open to full- time students in federal, state and private tertiary institutions from year three level and above, including younger students as team members.  Also, eligible ventures must be CAC licensed with prior knowledge in Science, Technology, Engineering, Mathematics, and Medical Science (STEMM).

He highlighted that the program’s objective is to recognize outstanding student abilities/talents, offer  genuine opportunities to succeed and stimulate a fresh surge of innovation across the nation.

According to the Minister, all applications will be subject to a thorough evaluation, with shortlisted candidates presenting to a 12- member panel of experts representing  academia, industry, venture capital, and government.  Participants will thereafter receive feedback and might be matched with other teams to boost teamwork and creative exchange.
He added that its expected to propel research commercialization and also equip students to drive global science innovations and develop solutions.

The application portal opened November 17 and will close on January 23, 2026 with assessment  commencing immediately afterward. 
Hitherto, the programme has recorded 17,914 applications from 402 tertiary institutions – 346 public and 56 private  with more than 1,000 completed submissions already received”, the minister said.
Former Minister of Power, Prof. Barth Nnaji, whose panel board honors outstanding scientific breakthroughs with a yearly $100,000 prize commended the initiative.

News Source; TVC News